The card will use fingerprint recognition to verify the identities of card holders and will be accepted at Mastercard payment terminals.

The sensor will be embedded on the device and will negate the need for a PIN when authorising purchases. Mastercard aims to leverage its cybersecurity expertise and global payments network to boost cardholder security via this biometric solution.

The card will first be launched in South Korea and will be initially offered to corporate clients that have more frequent international transactions. Samsung will begin issuing corporate cards to South Korean customers later in 2021.

– Thepaypers –

In 2018, cashless payments exceeded cash payments in the U.K. for the first time, as the use of banknotes and coins fell a substantial 15 percent.

NEXT Biometrics (Oslo Bors: NEXT), a global leader in fingerprint sensor technology, today announced the company is joining with MK Group to launch an R&D program for biometric smart cards for banking and other applications. The program will integrate NEXT’s large-area fingerprint sensors into MK Group’s next generation smart card products. Vietnam-based MK Group is the leading provider of smart cards and digital security solutions for financial, telecommunication and retail enterprises in Vietnam and one of the largest in South East Asia.

The percentage of payments made with a mobile phone in UK stores has jumped from 1.3% in Q3 2016 to 5.6% in Q3 2018, an analysis of 190m card transactions has shown. Compared to this time last year, the volume of contactless mobile payments has increased by 60%.

For payments under the £30 contactless payments limit, the number of transactions accounted for by mobile payments increased from 1.8% in Q3 2016, to 4.6% in Q3 2017 and then 7% in Q3 2018, the analysis by Cardlytics found.

“The biggest beneficiaries of growing mobile payments are quick-service merchants who have introduced contactless payment methods,” the company says. “This includes quick-service-restaurants (11.3%), coffee shops (11%), public transport (11%) and bars and pubs (9.25%).

“This reflects that mobile payments are used more readily at merchants that people visit on a daily basis and wish to pay more expediently, while less popular amongst bigger-ticket, one off purchases.”

“London is by far the biggest adopter of mobile pay, accounting for 7% of payments less than £30 and 5.7% of all transactions – at least 2% higher than any other region,” Cardlytics adds.

“Outside of London, east of England and the rest of the south east have been the fastest movers, with 3.3% and 3.2% of all transactions respectively carried out via Apple, Google or Android pay. Yorkshire ranks fourth with 2.9%.”

“The huge growth in contactless payments has been well documented, and we’re now seeing mobile payments making a big contribution to that growth, often at the expense of cash,” says Duncan Smith, commercial director at Cardlytics.

– Nfcworld – 

JP Morgan Chase, the largest card issuer in the U.S., will roll out Visa contactless payment cards — including debit, credit and co-branded cards — to millions of the bank’s cardholders starting later this year, according to a press release from the bank.

Starting with Chase Freedom Unlimited and Chase Slate customers, the bank will issue Visa contactless Tap to Go credit cards to all new cardholders and to existing cardholders receiving reissued cards.

All Chase credit cards will have Tap to Go capabilities by the first half of 2019. Chase will roll out Tap to Go to all debit card holders during the second half of 2019, the release said.

The contactless payment feature means that cardholders need only tap their card on the contactless-enabled card reader to pay for their purchase at millions of retailers and other outlets. The dual interface cards use RFID and secure EMV chip technology to generate a one time code to secure the payment information, Chase said.

– atmmarketplace.com –