“‘Dude, if that portfolio ever makes money, I’m buying you a beer,’ an employee at the card department of a big bank texted a Goldman staffer… Citigroup was in advanced negotiations with Apple for the card but pulled out amid doubts that it could earn an acceptable profit on the partnership, according to people with […]
Banks balk at Apple Card business Read More »
“Smartphone digital wallets offered by Google, Apple and other technology giants will put A$22bn of revenue across the major Australian banks at risk, according to Morgan Stanley… Its analysts came to that figure after looking into how a banks’ payments capability influences decisions relating to other products. This includes transaction accounts that give major banks
Analyst: Rise of OEM Pay smartphone wallets to cost banks US$15bn — in Australia alone Read More »
By: Dan Balaban NFC TIMES Exclusive Insight – While open-loop transit payments services, such as one being launched this week by New York’s Metropolitan Transportation Authority, get most of the attention, most public transit agencies and operators do not plan to accept credit and debit cards directly for payment of fares anytime soon. Related stories,
In North America, Many Cities Not Ready for Open-Loop Payments Read More »
“Following about 18 months of secretive development with Apple and Goldman Sachs, Mastercard is ready to bring the same offering to other issuers. Its platform carries over many of the features that Apple Card users will get, according to Chris Reid, Mastercard’s executive vice president of cyber intelligence and data services for North America.” Read
Mastercard to make Apple Card technology available to other issues Read More »
“Facebook wants to create a digital currency that provides affordable and secure ways of making payments, regardless of whether users have a bank account. The social networking site, which owns WhatsApp and Instagram, is hoping to disrupt existing networks by breaking down financial barriers, competing with banks and reducing consumer costs.” Read the rest of
Facebook to roll out GlobalCoin digital currency in ‘a dozen countries’ next year Read More »
By: Dan Balaban NFC TIMES Exclusive Insight – Unlike in most developed countries in Europe and Asia, in the U.S., only a small percentage of the population regularly uses mass transit. But New York City is an exception, with more than 4 billion transit trips per year in the metropolitan area–seven times greater than in the
“Ticketek, the Australian leader in ticketing, announced today, Suncorp Stadium in Brisbane, is Australia’s first sport and entertainment stadium to offer convenient and fast contactless tickets on iPhone and Apple Watch… Contactless tickets on iPhone and Apple Watch will be rolled out to further venues across Australia in the coming months.” Read the rest of
iPhone NFC ticketing goes live at Brisbane’s Suncorp Stadium Read More »
“The Payment Systems Vision 2021, with its 36 specific action points and 12 specific outcomes, aspires to (a) enhance customer experience, including robust grievance redressal; (b) empower payment system operators and service providers; (c) enable the payments ecosystem and infrastructure; (d) put in place forward-looking regulations; and (e) undertake risk-focused supervision.” Read the rest of
India sets out plans for a cash-lite society Read More »
By: Dan Balaban NFC TIMES Exclusive – Another one of Australia’s big four banks, National Australia Bank, has given in to pressure from customers and has agreed to support Apple Pay. Related stories, automatically selected: Aussie Banking Group: Apple Holding Issuers ‘Hostage’ with Its Restrictive NFC Policies Australian Banks Form Bloc to Counter Apple’s ‘Divide-and-Conquer Strategy
By: Dan Balaban NFC TIMES Exclusive Insight – Another one of Australia’s big four banks, National Australia Bank, has given in to pressure from customers and has agreed to support Apple Pay. Related stories, automatically selected: Aussie Banking Group: Apple Holding Issuers ‘Hostage’ with Its Restrictive NFC Policies Australian Banks Form Bloc to Counter Apple’s ‘Divide-and-Conquer
