Topic “Tokenization”

EMVCo to Release Overdue Tokenization Updates This Year; But Unclear if Major Update Planned for 2015

NFC Times Exclusive – Commercial standards organization EMVCo says it will publish what are considered overdue updates to its tokenization specification before the end of the year, though the organization is releasing few specific details overall, and it’s unclear whether there will be a major update to the specification this year, NFC Times has learned.

Tokenization from Visa and MasterCard Will be Tough Sell in Such Markets as Turkey, which Could Opt for Alternate PANs

NFC Times Exclusive – Turkish banking group BKM and at least some Turkish banks are among those planning to support their own form of tokenization–alternate PANs–for early and perhaps later rollouts of NFC mobile payments–a move that could put a crimp in the tokenization plans of the major payments schemes, Visa and MasterCard Worldwide.

Samsung Announces Dates for Payments Launch; Signs Up for Visa Tokenization Program

NFC Times Exclusive Insight – Samsung Electronics today released exact dates for when it plans to launch its mobile-payments service, Samsung Pay–Aug. 20 in South Korea and the U.S. on Sept. 28–while saying it also intends to roll out the service in the UK, Spain and China.

TSM Banking Group Joint Venture Accepts Bids for HCE and Tokenization

Aug 5 2015

NFC Times Exclusive – Taiwan’s TSM banking joint venture has received proposals from at least four vendors to supply a wallet platform with host-card emulation, as well as tokenization technology, as the group seeks to expand its thus far little-used TSM platform to offer its member banks the ability to launch cloud-based NFC payments by the end of 2015, NFC Times has learned.

GSMA, Telcos Consider Common Platform to Support Tokenization on SIMs

NFC Times Exclusive – Mobile operators are considering shopping for technology to launch a common platform to request tokenized payment cards from such providers as MasterCard Worldwide and Visa and to load the tokens onto their NFC SIM cards, NFC Times has learned.

Visa and MasterCard Change Strategy on Tokenization Fees; Observers See Gambit to Lock in Market

NFC Times Exclusive Insight – Visa maintains that its offer to waive tokenization fees for the long term is designed to simplify the connections between thousands of card issuers and such wallet providers as Google and, perhaps later, Apple, thus driving widespread rollouts of mobile-payments services.

Taiwan Banking Joint Venture to Request Tenders for HCE and Tokenization Platform

NFC Times Exclusive Insight – Taiwan’s banking joint venture, Taiwan Mobile Payment Co., has disclosed that it will issue a request for tenders for a host-card emulation and tokenization platform, with plans calling for the technology to be made available to Taiwanese banks for mobile-payments launches by the end of the year.

Apple Announces Addition of Nonpayments Applications, First International Expansion for Apple Pay

Jun 11 2015

NFC Times Exclusive Insight – Apple today announced major new updates to Apple Pay, including the addition of store credit, debit and loyalty cards in the U.S., expansion of the mobile-payments service to its first overseas market, the UK, and a renaming of the wallet app itself from Passbook to Wallet.

Dateline Australia: Reality Check for Apple in Efforts to Expand Apple Pay

Jun 7 2015

MELBOURNE, SYDNEY, Australia – NFC Times Exclusive: On the face of it, Australia would seem like an ideal market for Apple to expand its Apple Pay service outside of the U.S. After all, iPhone market share here now hovers around 40%, usage rates of contactless payment at retail are the highest in the world and major banks are eager to roll out mobile payment.

UPDATED: Visa, MasterCard Tout Tokenization as Android Pay Gears Up; Likely Long-Term Play for Schemes

Jun 5 2015

UPDATED: NFC Times Exclusive Insight – Relatively little noticed amid the widespread coverage of Google’s unveiling of its new Android Pay platform last week are the continued tokenization plays by major payment networks, Visa and MasterCard Worldwide, including Visa’s announcement of a new tokenization program and pricing policies, geared toward such platforms as Android Pay. 

HEADLINE NEWS

UK Tram Riders Take to Tapping with NFC phones to Pay for Fares, According to Early Results

NFC TIMES Exclusive – Transport for Greater Manchester, which last month launched open-loop payments on its large Metrolink tram network, said Thursday that contactless credit and debit cards and NFC wallets accounted for a combined 170,000 rides during the first four weeks of the service.

In-Depth: NFC Wallet Use for Open-Loop Transit Grows but Still Makes Up Relatively Small Share of Contactless Payments

NFC TIMES Exclusive – When New York City transit officials announced Tuesday that the 1 millionth ride paid for through their new OMNY open-loop payments service had arrived ahead of schedule, they also proudly noted that 80% of the contactless payments had come from NFC wallets, not physical bank cards. 

PayPay Gets Off to Quick Start as One of Many Digital Payments Services in Cash-Loving Japan

NFC TIMES Exclusive Insight – As Japan continues to fight what to date has been a losing battle against cash, an announcement by the joint venture behind QR code-based payments service PayPay offers a little bit of encouragement. 

Research Firm Projects Use of NFC Mobile Wallets in U.S. to Remain Disappointing This Year

NFC TIMES Exclusive Insight – As Apple Pay approaches the fifth anniversary of its launch in the U.S., there is more research showing that most American consumers simply don’t see the value of tapping to pay with NFC-based payments services. 

In-Depth: Five Years After Transport for London Launched Contactless Across Its Transit Network, UK Open-Loop Rollout Remains Uneven

Aug 15 2019

NFC TIMES Exclusive Insight – Five years ago next month, Transport for London introduced open-loop contactless payments across its transit network, including metro, trams and commuter rail, following an earlier launch on buses. The service now accounts for more than half of all pay-as-you-go journeys and has become a global showcase for the technology.

Apple Again Promises to Push Transit Ticketing as It Seeks Broader Adoption of Apple Pay

NFC TIMES Exclusive Insight – While noting to financial analysts late Tuesday that Apple Pay is now approaching 1 billion transactions per month globally and is in 47 markets, perhaps Apple CEO Tim Cook’s most significant comments about Apple Pay this week was to again emphasize that Apple wants to enable users to routinely tap to pay for bus, subway and other transit rides with their iPhones and Apple Watches. 

Chinese Mega Wallets Continue to Expand QR Code-based Transit Ticketing, while Major Agencies in West Stay with NFC

NFC TIMES Exclusive Insight ­– China’s mega-mobile wallet providers have continued their rollouts of transit payments in China, with Tencent Holdings announcing Tuesday that two years after launching its first QR-code-based WeChat “Ride Code” service in Guangzhou, total users for its transit payments services has reached 100 million.

Sydney Transit Authority Gives Users of Contactless Bank Cards Nearly All Discounts They Get with Closed-Loop Opal Cards

Jul 29 2019

NFC TIMES Exclusive Insight – Transport for New South Wales, Australia, the authority that oversees transit in and around Sydney, has taken a step toward phasing out its closed-loop contactless Opal fare card, today extending nearly all of the discounts it offers on Opal to users of open-loop Visa- Mastercard- and American Express-branded contactless cards.

In-Depth: 2020 Could Mark Landmark Year for Contactless Payments in U.S.

NFC TIMES Exclusive Insight– October will mark the fifth anniversary of the launch of Apple Pay in the U.S., Apple’s first country for its groundbreaking NFC payments service. 

Filings Point to Plans for Global Expansion of Apple Card and Apple Cash

NFC TIMES Exclusive Insight – Following Apple’s imminent entry into the credit card business in the U.S. with its planned Apple Card, the tech giant is showing signs it is looking to roll out the branded credit card in a number of other countries, as well.

Analysis: It's Likely Too Little, Too Late for LG Pay

Jul 25 2019

NFC TIMES Exclusive Insight – It was the fall of 2015, and interest in the Pays wallets was burgeoning. Google and Samsung had each launched their respective payments services in September of 2015 in the U.S., following introduction of Apple Pay a year earlier.

Apple Pay to Finally Support Octopus Card in Hong Kong, as Competition Grows in Market

NFC TIMES Exclusive Insight –  Apple Pay will offer support for Hong Kong’s popular closed-loop contactless transit and retail payments card Octopus later this year, adding a much-needed service to an Apple Wallet that launched three years ago in Hong Kong for credit and debit payments at retail.