NFC World

Countries with digitised and innovative economies are more likely to be developing central bank digital currency (CBDC) projects while those with a larger informal economy are tending to focus on creating retail CBDCs, a working paper published by the Bank for International Settlements (BIS) reports. ‘Rise of the central bank digital currencies: drivers, approaches and […]

The Banco Central do Brasil has formed a study group to evaluate the benefits and challenges of issuing a central bank digital currency (CBDC) in the country. The 12-member intergovernmental group will assess how a CBDC could complement Brazil’s existing payments ecosystem and evaluate its potential economic and social impact. It will also identify security

Public transport users in the Canadian city of Saskatoon will soon be able to plan their journeys, get real-time updates, pay their fares and connect their bus journeys to complementary door-to-destination transport options in a single app that combines mobile ticketing with Mobility-as-a-Service (MaaS). The new Saskatoon Transit mobile app will allow passengers to pay

Indian telecommunications giant Reliance Jio has begun piloting Jio Pay, a new UPI-enabled payments service which includes support for both NFC and QR mobile payments. Jio Pay supports all the features of the National Payment Corporation of India’s united payments interface (UPI) real-time payment system, including transfer service Pay Through VPA (Virtual Payment Address) and

Spanish banking group BBVA is to pilot a service which will enable merchants to accept contactless payments on their Android smartphones without the need of additional hardware. The proof of concept pilot will integrate fintech company Rubean’s PhonePOS solution into the merchant apps of up to 2,000 of BBVA’s merchant clients in Spain, allowing them

Users of Singapore mobile network operator Singtel’s Dash mobile wallet can now earn reward points for each in-store and online payment and every overseas remittance they make using the service. The Dash Rewards programme allows customers to redeem points and use them to pay for Singtel mobile services or exchange them for vouchers from more

The Central Bank of Azerbaijan has raised the limit for all contactless card transactions and contactless ATM withdrawals in the country from 50 manats (US$29.40) to 100 manats (US$58.80). The increase has come in response to the Covid-19 pandemic, but also supports “the strategy of expanding the contactless card infrastructure in the country,” the bank

UMB Bank customers in the US can now opt to use their rewards points balance to pay for any in-store purchases they make with their UMB Visa debit or credit card. Customers taking advantage of the new option make a purchase in the usual way. They then receive a real-time notification via SMS or email

Bank customers in India will soon be able to book, pay for and receive railway e-tickets for use on their mobile device through their mobile banking app. The functionality will also allow them to check alternative travel options, seat and berth availability and the status of their booking. Banks will be able to offer the

The number of passengers using the Omny contactless payment service to pay for journeys on the New York City subway has risen by 168% since August 2019 and by 50% since May this year, New York’s Metropolitan Transportation Authority (MTA) reports. In all, the service has recorded more than 16m taps since its launch in