
GoNow eWallet card
Digital Life Technologies is piloting its GoNow eWallet card, a programmable magnetic stripe card that receives commands from an eWallet via a mobile phones. The company claims that the solution is being trialled by a major bank and a direct-to consumer eWallet issuer.
The card can be programmed by an eWallet and then swiped at the POS, contactless terminal or ATM without the need to update the existing payment infrastructure. The GoNow eWallet can become any credit, debit, loyalty or stored value card in a consumer’s eWallet. Users will also be able to add cards from a physical wallet to an eWallet via a magnetic stripe card reader that connects through the phone’ audio jack.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more