Topic “VDEP”

Exclusive: Visa Locks Out Third-Party Token Service Providers; Sets Dates for Ending Support for Alternate PANs

NFC TIMES Exclusive – Unlike at least some other major networks, including Mastercard, Visa has shown no intention of allowing third-party token service providers to tokenize Visa-branded cards, requiring nearly all issuers to use Visa’s own Visa Token Service, or VTS, sources told NFC Times.

Visa Policy on Alternate PANs Leaves Cardholders Out in the Cold in Taiwan

NFC Times Exclusive – Fourteen banks in Taiwan launched mobile payments using host card emulation late last week or plan to do so in coming weeks, but none of the cards that the banks’ customers can load into their new Android wallet apps will sport the Visa logo–one of the two main bank card brands in Taiwan. 

Analysis: Visa Provides One of Canada’s Largest Banks Tokenization and Apparently Some HCE Services

NFC Times Exclusive Insight – Toronto-Dominion Bank, one of Canada’s largest banks, is the first in the country to adopt Visa's tokenization technology and the third outside the U.S. that have been announced so far using the payment scheme’s tokenization service.

Visa Contends Move to Phase Out Alternate PANs Needed to Expand Range of Payments Devices

Mar 8 2016

NFC Times Exclusive Insight – Visa says its move to phase out bank-issued alternate PANs and promote tokenization as specified by EMVCo–including its own Visa Token Service–is an effort to capitalize on the proliferation of Internet of Things devices that could be used for payments. 

MasterCard Tokenization Launch Matches Visa’s, as Both Schemes Make Play for Mobile Transactions

NFC Times Exclusive Insight – MasterCard Worldwide Tuesday announced its hub-like commercial tokenization program, Digital Enablement Express, a widely expected move that matches a similar service that rival Visa introduced in late May, Visa Digital Enablement Program, or VDEP. Like VDEP, MasterCard’s new tokenization program has signed up Google and Samsung for their respective payments services, though neither MasterCard nor Visa has announced that Apple would join.

Samsung Announces Dates for Payments Launch; Signs Up for Visa Tokenization Program

NFC Times Exclusive Insight – Samsung Electronics today released exact dates for when it plans to launch its mobile-payments service, Samsung Pay–Aug. 20 in South Korea and the U.S. on Sept. 28–while saying it also intends to roll out the service in the UK, Spain and China.

Apple Announces Addition of Nonpayments Applications, First International Expansion for Apple Pay

Jun 11 2015

NFC Times Exclusive Insight – Apple today announced major new updates to Apple Pay, including the addition of store credit, debit and loyalty cards in the U.S., expansion of the mobile-payments service to its first overseas market, the UK, and a renaming of the wallet app itself from Passbook to Wallet.

HEADLINE NEWS

Apple Touts Strong Growth of Apple Pay Globally, though Again Fails to Release Actual Transaction Figures

NFC TIMES Exclusive Insight – Apple said the number of Apple Pay users doubled globally while transactions tripled during the last quarter, but the company did not release many details explaining reasons for the increases and again released no actual figures on Apple Pay usage.

Contactless Payments Continues to Grow for Transport for London, Helped by Fare Capping

NFC TIMES Exclusive Insight – Transport for London this week was again trumpeting its move to open-loop fare collection with contactless credit and debit cards and applications on NFC phones–noting that contactless payments now accounts for half of all pay-as-you-go metro and rail rides in and around the UK’s capital.

Visa and Mastercard Hope New Online Payments Spec Will Accelerate Rollout of Tokens; U.S. Merchant Group Blasts Network Move as Anticompetitive

Apr 26 2018

NFC TIMES Exclusive Insight – Major card networks Visa and Mastercard hope a new technical framework for online transactions they are backing from their jointly owned EMVCo specifications group will help them keep more transactions on their networks, amid growing competition for mobile and other digital payments and lackluster take-up of the networks’ respective online digital wallets, Visa Checkout and Masterpass.

Second Smartwatch Supports Fitbit Pay, but Payments Service Remains Fragmented

NFC TIMES Exclusive Insight – Struggling wearables maker Fitbit on Monday began selling its second smartwatch, the Fitbit Versa, supporting its NFC-enabled Fitbit Pay service, but not all versions of the new device support NFC in the U.S.

WeChat Pay Touts Access by Merchants to Consumer Data, Messaging Channel

Apr 10 2018

NFC TIMES Exclusive Insight – Both Ant Financial and Tencent Holdings have used their hundreds of millions of users, ready access to Chinese bank accounts, billions of yuan in subsidies for merchants and consumers and protected market status in China against Western competitors to build a combined mobile payments business valued in the trillions of U.S. dollars in transactions.

Regulations Take Effect in China to Limit Risk of Static QR Codes Used by Alipay, WeChat Pay and Others

Apr 4 2018

NFC TIMES Exclusive Insight – Daily limits on QR code- and bar code-based transactions in China have taken effect–mainly hitting Ant Financial and its rival Tencent Holdings­, providers of respective digital payments services Alipay and WeChat Pay.  

Apple Pay Finally Enables Transit Ticketing in Beijing and Shanghai, but It May be Too Late to Turn Back QR Code-Based Wallets

NFC TIMES Exclusive Insight – After being beaten by rival handset makers Huawei, Xiaomi and even Samsung to the launch of NFC transit ticketing in China, Apple today finally began enabling riders in two major cities, Beijing and Shanghai, to tap to pay fares using closed-loop transit ticketing cards.

China UnionPay Seeks to Bolster Use of Brand for Mobile Payments Overseas; Will It Make a Difference?

NFC TIMES Exclusive Insight – China’s dominant bank card network, UnionPay, which is badly losing its battle for mobile payments market share among Chinese consumers to rivals Ant Financial and Tencent Holdings–both at home and abroad–is taking steps to try to gain some ground.

Japan Begins Overdue Move to Standard NFC Acceptance

NFC TIMES Exclusive Insight – Japan was the first country to roll out contactless-mobile payments–starting in 2004–but it still does not accept standard, internationally interoperable NFC payments to any real extent, unlike most developed markets.

Google Seeks to Sign Up More Merchants for Tez App in India as Competition Heats Up

Mar 21 2018

NFC TIMES Exclusive Insight – SINGAPORE: Google is seeking to sign up more small merchants and encourage more retail payments with its Tez mobile payments service in India, an app now mainly used for peer-to-peer funds transfers.

Apple Pay Could Get More Single-Tap Rewards in Next Few Months but Technology is Not Proving Easy to Roll Out

NFC TIMES Exclusive – Restaurant loyalty platform vendor Punchh could enable its delayed single-tap loyalty and rewards service with Apple Pay in the second quarter of this year at as many as six quick-service and fast-casual restaurant chains, the vendor told NFC Times.