Here’s How the Security Behind Apple Pay Will Really Work

From Bank Innovation

“Apple Pay was introduced by the giant technology company only three days ago, and already there are a number of questions about it — mostly from the financial technology industry.

Specifically, many fintech insiders are wondering how exactly Apple Pay works, and what are its security features. And, no, watching a demo of Apple Pay doesn’t quite cut it.

Bank Innovation turned to one of Apple Pay’s partners, MasterCard, for the lowdown. In an interview with Bank Innovation, Jorn Lambert, group executive of digital channels at MasterCard, shared the technical details for how Apple Pay will work when it is launched next month.”

read more>>

Barclaycard unveils contactless wristband

From Finextra

“Barclaycard is preparing to jump on the wearable tech bandwagon through the launch of a contactless payments wristband.

Barclaycard has been trialing the bpay bands over the last two years at music festivals. After each event, the bands were deactivated but next year will see a full-scale roll out of the technology.

The bands will enable users to make low-value payments through the tap of a wrist at over 300,000 spots in the UK, including in shops, bars and on London's public transport system.”

read more>>

The future of public transport payments

Shashi Verma, Director of Customer Experience at Transport for London (TfL), talks about the Future Ticketing Project, mobile payments and working with Visa Europe.

What Banks Can Learn from Disney's Payments

From American Banker

“Disney World's efforts to test its payments wristband involve patience, investment in technology and a lot of marketing. PaymentsSource editor Daniel Wolfe recently visited the amusement park and has some lessons for banks and other payments companies that want to succeed in similar innovation.”

watch video>>