Topic “Tokenization”

Exclusive: Group of Major U.S. Banks Presses Visa to Open up Tokenization

NFC TIMES Exclusive – Some of the largest banks in the U.S. have been pressing Visa to allow them to tokenize their Visa-branded cards for mobile payments through a token service provider set up by their trade group, The Clearing House, which is owned by such major U.S. issuers as JPMorgan Chase, Wells Fargo, Capital One and Bank of America, NFC Times has learned.

Taiwan’s Domestic Debit Network to Launch Token Service Provider

Mar 29 2017

NFC TIMES Exclusive – TAIPEI, Taiwan: A number of Taiwanese banks plan to enable customers to load their debit card credentials into an HCE-enabled mobile wallet app starting this month, following the launch last year by the banks of HCE-enabled credit card payments, NFC Times has learned.

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.

Exclusive: What Tokenization Fees from Visa Might Look Like for Issuers

NFC TIMES Exclusive – While Visa has said it is waiving tokenization fees for issuers that join its commercial tokenization hub, VDEP, and use its Visa Token Service, some observers believe the network will charge the fees sooner or later.

Australian Domestic Debit Network Nears Launch of Token Service Provider to Compete with Visa and Mastercard

NFC TIMES Exclusive – Australia’s largest domestic debit network, eftpos, plans to launch its overdue tokenization service commercially by the second quarter, likely serving at least one of the country’s big four banks for its HCE mobile wallet and one or more of the “Pays” wallets, such as Android Pay and possibly Apple Pay, NFC Times has learned.

Analysis: Trends to Watch This Year in Tokenization, HCE, ‘Pays’ Wallets, Wearables and More

NFC Times Exclusive – The coming year will see the major networks continuing to dominate tokenization, even though at least a few more domestic payments schemes will begin tokenizing cards.

American Express Launches Amex Pay in the UK, in Addition to Canada

NFC Times Exclusive – American Express has quietly launched its HCE-enabled mobile payments service in the UK, along with its launch in Canada, which it announced Wednesday, NFC Times has learned.

Visa Blocks Singaporean Bank UOB from Using Own TSP to Tokenize Visa Cards for Apple Pay

Nov 1 2016

NFC Times Exclusive – When United Overseas Bank in Singapore launched its mobile wallet app with host card emulation, UOB Mighty, in November of 2015, it was the first bank outside of the U.S. to use the Visa Token Service, Visa’s on-behalf-of tokenization service.

Visa, Mastercard Set Deadlines for Ending Support for Alternate PANs

NFC Times Exclusive – Both Visa and Mastercard have set deadlines for ending support for alternate PANs that a number of banks are issuing for their mobile payments apps, as the schemes continue to push their own tokenization services to issuers, NFC Times has learned.

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. 

HEADLINE NEWS

In-Depth: Government Regulation of Mobility-as-a-Service Seen as Necessary to Encourage Widespread Adoption

Apr 16 2020

NFC TIMES Exclusive Insight – Government legislation will likely be needed for widespread adoption of Mobility-as-a-Service, or MaaS, to occur, according to UK-based Juniper Research, which believes that the regulations will be necessary to force MaaS providers, including transit service providers, to work together, as well as to persuade users to get out of their cars to cut carbon emissions.

Apple Pay Expands Support for Interoperable Closed-Loop Transit Cards in China, Though Not First NFC Pays Wallet to Do So

NFC TIMES Exclusive Insight – Apple on Wednesday expanded support for closed-loop transit payments across China, incorporating China’s T-Union interoperable transit cards in its Apple Pay service.

Insight: Virus Adds Urgency to Increasing Contactless Limits but Won’t Necessarily Drive Growth in Acceptance

NFC TIMES Exclusive Insight – While the Covid-19 virus outbreak is building awareness for contactless and NFC payments and is accelerating the increase in already low contactless transaction limits in Europe, it remains to be seen how much it will convince more merchants to accept contactless in the U.S.

Exclusive: After 10 Months, Sales of Public Transit Tickets in Uber App Still Make Up Small Share of Mobile Ticketing in Denver

Mar 24 2020

NFC TIMES Exclusive – Since last May, when ride-hailing service Uber officially began enabling customers to book and pay for public transit tickets in Denver directly in the Uber app, use of the service remains relatively low, accounting for less than 3% of all mobile tickets purchased by customers of Denver public transit agency RTD, NFC Times has learned.

Former Garmin Pay Technology Providers Sue Device Maker Claiming Unpaid Millions, Though Offer Scant Proof of Claims

NFC TIMES Exclusive –  The founders of former payments wearables provisioning company Fit Pay, which was acquired last September for $3.3 million by smartwatch and fitness band maker Garmin, have sued the device maker and two other parties, claiming they are owed millions in missed earn-out payments.

Helsinki to Roll Out Multimodal Contactless EMV Fare Payments, with Plans for Daily and Weekly Fare Capping

Mar 12 2020

NFC TIMES Exclusive Insight – The Helsinki Regional Transport Authority plans to accept contactless EMV payments on its multimodal system, including its buses, metro, trams and ferries. The rollout, expected to be completed in 2023, will also support daily and weekly fare capping.  

Transport for London’s Lucrative Sponsorship Deal with Google Shows Value of ‘Point of Sale’ Real Estate at Fare Gates

NFC TIMES Exclusive insight – Transport for London’s recent deal with Google to put the Google Pay Logo on more than 5,600 contactless gate readers across the large London Underground network is not the first time that the London transit authority has rented out its prime payments real estate to sponsors. Nor is it the only transit agency that has profited from sponsorship deals tied to its contactless EMV transit payments services. 

Amazon Launches Largest Checkout-Free Store; Clerks and POS Terminal Vendors Need Not Worry…Yet

NFC TIMES Exclusive Insight – Ecommerce giant Amazon expanded its no-checkout concept to its first “full-sized” supermarket Tuesday, in its headquarters city of Seattle, enabling shoppers to scan an app upon entering, pull products off of shelves and “just walk out,” with hundreds of cameras and numerous sensors having recorded everywhere the shoppers went in the store and everything they put into their shopping carts. A card on file in the app is charged as the customers leave.

Czech Banks See Growing Use of NFC Wallets with Smartphones and Wearables for Contactless Payments

Feb 18 2020

NFC TIMES Exclusive Insight – Banks in the Czech Republic say they are seeing significant and growing use of NFC-enabled smartphones and wearables, ranging from 6% to nearly 25% of all contactless payments–three banks told NFC Times–although a large majority of consumers continue to tap their contactless cards, not NFC devices, for in-store payments.

Brussels Transit Operator Sees Need for Global Interoperability of Fare Payments; Compares Benefits to Mobile Roaming

NFC TIMES Exclusive Insight – The head of information systems for a major European transit operator says he believes public transit agencies should support interoperable fare payments globally, like mobile network operators offer roaming when their customers travel abroad.

Oyster Card Here to Stay Despite Strong Growth of Contactless Fare Payments in London

NFC TIMES Exclusive Insight – As more and more transit authorities globally seek to emulate Transport for London’s success in gaining widespread adoption for contactless open-loop fare payments, they should take note that London’s closed-loop Oyster card remains popular, even among visitors to the city.

In-Depth: Tokenization Figures Demonstrate Majority of Mobile Payments Conducted Online

NFC TIMES Exclusive Insight –  Recent research and forecasts have confirmed what industry observers already knew: Despite concerted efforts by the Pays wallets to gain widespread use of mobile payments in the U.S. at the physical point of sale, the large majority of mobile payments are conducted online, not by tapping NFC phones or wearables in stores.