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Westpac trials HCE digital wallet technology

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Westpac is trialling Host Card Emulation  mobile payments (HCE digital wallet), the first bank in New Zealand to actively do so and one of only a handful of banks globally to be using the innovative ‘digital wallet’ technology. The three month trial, which uses Carta Worldwide HCE technology, enables credit and debit card details to be securely stored in a… Continue reading >>

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Facebook gets busy in payments

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Social network giant Facebook is testing a “buy” button which would enable users to purchase products featured on advertisements or page posts on the social network. Users can pay with a card that Facebook has already on file or enter new details and save them for future use. No payment details are shared with advertisers. Initially, the feature is only… Continue reading >>

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Monitise share price slumps on revenue slash

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Global mobile money specialist Monitise has seen its share price plummet more than 15% today after the company issued a trading update stating that its revenue growth this year would be lower than previously forecasted. Monitise said full year revenue would be between 31% and 33% (£95 million and £97 million), lower than the 40% it stated in March. This… Continue reading >>

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UK legislate on mobile cheque deposit

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The UK government is hoping to resist the slide of cheque usage by allowing a system that will allow people to pay using mobile cheque deposit by taking a photo on their smartphone. Rather than go to the bank in person, customers will be able to photograph the cheque, and send it electronically. The government says the idea has been… Continue reading >>

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Mobile banking – South Africa unpicking the lock?

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South Africa’s telco’s have been trying for some time to unpick the mobile banking lock, but they have not been able to repeat the successes they have had in countries such as Tanzania, Uganda and Kenya. But MTN, working with Pick n Pay (a Tesco equivalent), may have found the key to success domestically. This week, the mobile operator and… Continue reading >>

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BBVA and Visa launch first commercial HCE mobile payments

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BBVA is the first global banking group to commercially launch mobile HCE mobile payments based on new cloud-based payment specifications from Visa. The new cloud-based system will allow BBVA customers with NFC-enabled Android handsets to make contactless purchases by simply downloading an updated version of the BBVA Wallet app. BBVA Wallet, which already has more than 200,000 users, operates in… Continue reading >>

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Android malware hits South Korean mobile banking customers

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Android malware, a malicious software that can imitate legitimate online banking applications is hitting customers in South Korea, with thousands of devices infected in the last week, according to a Chinese mobile security company. Cheetah Mobile, formerly known as Kingsoft Internet Security Software, wrote that the banking malware masquerades as a popular game or tool on third-party Android application markets. Google checks… Continue reading >>

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Amazon phone set to ignite mobile banking market

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Amidst mixed reactions and a media storm, Amazon has launched its smartphone. John Legere, T-mobile USA’s outspoken CEO took to Twitter before the launch to complain about press reports that Amazon’s first smartphone, which has just been unveiled in the US will be available exclusively through AT&T. “Exclusivity sucks for customers. Exclusivity on @ATT sucks for the industry,” Legere wrote… Continue reading >>

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Orange, BNP Paribas extend mobile banking in Africa

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Orange and the BNP Paribas group are offering retail banking customers in Africa direct access between their BNP Paribas account and their Orange Money account through their mobile phones. The new service is available in Côte d’Ivoire and will be extended to other countries in which BNP Paribas and Orange Money are present, particularly Senegal. The service allows customers of BNP… Continue reading >>

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Mobile banking Trojan mutates with ransomware features

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An Android mobile banking Trojan program originally designed to steal mobile banking credentials from Russian users has been found in the wild and has been retrofitted with ransomware functionality to infect US users with photos of its victims to intimidate them into paying a fictitious FBI fine. Known as Svpeng, the Trojan program was first detected almost a year ago… Continue reading >>

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