Proposed law requires Apple Pay users show photo ID

From Splash Gear –

“Apple Pay, Apple's new wireless, NFC payment method, is a clear step towards a future where customers no longer have to deal with pulling a card out of their wallet, typing PIN numbers, or signing receipts when making payments. We just tap/swipe our phones and we're done. But one lawmaker doesn't like that idea and still wants us to continue digging in our wallets at the register. Missouri's Joshua Peters (D) from the House of Representatives has proposed a law that requires a photo ID be shown by anyone making a smartphone-based payment.”

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EMV Is No Payment Security Panacea

From eSecurity Planet -

“On Oct. 1, 2015, the U.S. will become the last G20 country to transition to EMV technology, which leverages a chip in the payment card instead of a magnetic stripe to authenticate a transaction.

The benefit of EMV lies in the dynamic nature of the data; because the chip creates a unique code for each transaction, it isn’t possible for criminals to use stolen credit card numbers to create fake EMV cards like they can with magnetic strip cards.

As Ovum senior analyst Kieran Hines notes, it’s not going to be an easy or inexpensive change to make. "Migrating to the EMV standard involves replacing or modifying all mag-stripe only credit and debit cards, as well as the PoS (point-of-sale) terminals and ATMs that they are used in," he says.”

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Chicago-Area Bank Rolls Out Smartphone ATMs

From 5NBC Chicago -

“Say goodbye to ATM cards and hello to your smartphone.

Rosemont-based Wintrust Financial started 2015 off with a technology statement, rolling out 190 “cardless cash” ATMs that allow customers to withdraw cash with their smartphones, the Chicago Tribune reported.

The machines will use software from FIS, a technology provider, to make the transactions possible.

According to the Tribune, customers can use their mobile app to set how much money they want to withdraw from an ATM. Once at the ATM, they sign into the app on their phone using a four-digit password, select the cardless cash option, which will open their camera and take a photo of a QR code on the ATM. Once they snap the photo, they then submit it to the app and the ATM will dispense their cash and send a receipt to their device.”

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Israeli bank faces cyber-crime threat

From Payment Eye

“In what could be one of the biggest cases of cyber extortion in Israel, eight former Bank Leumi employees threatened to sell information about two million of the bank’s credit card accounts unless they were paid a ransom.

Seven of the suspects were arrested over the weekend, and the eighth, the suspected ringleader extradited from Thailand, landed in Ben Gurion airport on Sunday and will face charges with his fellow conspirators.

The eight had obtained the identity numbers and three-digit security code that appear on the back of credit cards for two million holders of the bank’s Leumi Card. While the suspects could have made online or telephone purchases with this information, Leumi Card said that no accounts had been compromised.”

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Apple Pay Mobile Payments Set to Launch in the US October 20

Apple has announced that customers can start making payments with the touch of a finger on Monday, October 20, when Apple Pay becomes available in the US. Apple Pay offers an easy, secure and private way to pay using Touch ID on the iPhone 6 and the iPhone 6 Plus in stores and within apps. Users of the just-announced iPad Air 2 and iPad mini 3 will be able to use Touch ID on their devices for Apple Pay within apps. The new service will be enabled by a free software update to iOS 8.

“Our team has worked incredibly hard to make Apple Pay private and secure, with the simplicity of a single touch of your finger,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “The reaction to Apple Pay has been amazing. We continue to add more Apple Pay ready banks, credit card companies and merchants, and think our users will love paying with Apple Pay.”


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Kenya's matatu bus system to go cashless

From BBC News

“Public transport in Kenya is going cashless as buses switch to new electronic fare payments.

From now on, the country's famously chaotic matatus, the minivans and buses that are used widely by Kenyan commuters, have been instructed to change to the new system.

But a Tuesday deadline for all buses to implement the cashless payments, or face fines, has been relaxed.

The sector's regulator has said that adoption will be gradual.

At least three companies are already using the new fare system, which operates in a similar way to London's Oyster card, with passengers pre-loading plastic cards with money and swiping them across a reader on board.

Customers can top up at agents, or by using mobile phone money transfer service M-Pesa.”

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Russia to introduce national payment card

From Paymenteye

“The Central Bank of Russia has revealed plans to launch a national payment card that will both rival Visa and Mastercard and create more choice for consumers, according to the country’s officials.

The card, which is the first of its kind in Russia, will use technical infrastructure provided by one of the country’s existing payment systems, with Sberbank’s Pro100 and Zolotaya Korona both being considered as partners. The latter, which means “Golden Crown”, was developed by the Centre of Financial Technologies Group, based in Russia. The chosen operator will clear payments made within Russia using the national card system, but the card will also be valid for payments abroad.”

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