Welcome to our weekly round-up of all the latest news and research from the world of payments.
1. Apple Pay starts surfing the web
That’s right, come Autumn time, Apple customers will be able to use Apple Pay to make e-commerce payments on the Safari browser – but only on Mac computers (obviously). Until now, Apple Pay was only available in iOS and in stores that accepted contactless mobile payments.
When visiting the webpage of a participating merchant store on Safari, a ‘Pay With Safari’ button will appear at the checkout stage. By clicking it, Apple’s Continuity feature will pull up a notification on your phone and ask you to authenticate the purchase using the Touch ID feature.
Source: Apple Website
2. Tesco Bank works with MasterCard on mobile payments
Tesco Bank and MasterCard have entered into a strategic partnership to focus on mobile and digital payments. The bank said the partnership is designed to identify and deliver new safe and secure digital payments solutions for customers when shopping in-store, online and on mobile devices.
“Tesco has recognised how important mobile and digital payments are for customers. As today’s shopper’s shift between online, mobile and in-store transactions depending on the circumstances, this partnership will strengthen Tesco’s payment offerings with new safe, secure and convenient solutions for customers,” said Mark Barnett, President of MasterCard UK & Ireland.
3. Travelex launched ‘Supercard’ to cut overseas spending fees
Travelex has partnered with Germany’s Wirecard to introduce a new MasterCard and app product that avoid overseas debit and credit card roaming fees and charges when spending abroad. The ‘Supercard’ connects all existing credit and debit cards (up to five) in one card solution which will be chip and pin protected.
“The card solution is highly innovative and Wirecard are providing all aspects of the payment, risk management and processing technology,” said Jack Harris, Vice President Financial Institutions Europe. Check out the video of how it works:
4. Bank of Tokyo-Mitsubishi is trialling its own digital currency
This week, the Bank of Tokyo-Mitsubishi confirmed reports that it is currently in the middle of testing its down digital currency and is using blockchain technology, reports Reuters.
“Regarding the speculation (in) media reports, these reports are not based on any announcement by MUFG, and the details have not been decided. However we can only say that it’s true that MUFG is conducting demonstration experiments on the ‘Coin’ within the company utilizing a block chain technology,” the bank’s spokesman said in an emailed statement to Reuters. The report, originally published in the Japanese newspaper Asahi Shimbun, said that Japanese customers would be able to withdraw money from their bank accounts using mobile phones where the exchange rate is 1 MUFG=1 Yen.
5. Samsung Pay goes down under
Samsung has launched its mobile payment service in Australia, just over a month after Apple finally managed to break down the resistance of Australia’s Big Four banks. Samsung Pay will be available starting today on compatible Samsung smartphones including the Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+, Galaxy Note 5, Galaxy S7 and Galaxy S7 edge.
At launch, Samsung Pay partners in Australia will be American Express and Citibank. Citibank credit card cardholders as well as American Express Issued Card Members will be able to use Samsung Pay, with a compatible Samsung smartphone, at participating retailers.
Loot, the smartphone banking app aimed at helping millennials stay on top of their finances, has finally launched this week and started to open accounts of the 25,000 people on its waiting list.
Amazon have recently launched their new in-store innovation service, Amazon Go.