Articles about payments

Person using a card reader

Lloyds Bank payments glitch frustrates merchants

Lloyds Bank has admitted that unspecified technical problems affected the operation of its Cardnet payment system on Tuesday. The UK bank denied suggestions that it had suffered a cyber attack. The Register learnt of a potential issue after a reader got in touch to say that many chip-and-PIN terminals were not working for …
John Leyden, 20 Sep 2017
Vodafone adds payment cards to mobile wallet

UK not as keen on mobile wallets as mainland Europe and US

The UK is lagging behind other countries in mobile wallet adoption, according to a new survey out today. Consumers in the US and Europe are catching up with those in fast-growing economies in Asia and Latin America where mobile wallets have already become the dominant payment platform, according to an online survey of 6,000 …
John Leyden, 5 Sep 2017
Apple

Wallet-snatch hack: ApplePay 'vulnerable to attack', claim researchers

Black Hat USA Security researchers say they have come up with two separate "attacks" against ApplePay, highlighting what they claim are weaknesses in the mobile payment method. One of the attacks developed by the white hats, and presented at Black Hat USA yesterday, requires a jailbroken device to work, but the other assault does not. In …
John Leyden, 28 Jul 2017
Woman uses card reader at coffeee shop. Photo by Shutterstock

Why being late isn't fatal for Samsung Pay

Samsung has finally launched its mobile payments service, Samsung Pay, in the UK. The chaebol acquired the technology by buying LoopPay and launched the service in South Korea in August 2015. It seems odd that you still have to swipe a Nectar card separately after you've done your contactless payment thing with your phone or …
Andrew Orlowski, 17 May 2017
Mobile banking, image via Shutterstock

Visa cries foul over Euro regulator's stronger authentication demands

The EU banking regulator’s plans to reduce fraud by obliging the use of passwords, codes or a card reader to authenticate electronic payments above 10 euros have drawn fire from the payments industry. Visa and others argue that mandated authentication checks put forward by the European Banking Authority risk disrupting online …
John Leyden, 23 Nov 2016
Vodafone adds payment cards to mobile wallet

Europe loves to pay by bonk* - survey

Consumers use of a mobile device – either a smartphone, tablet or wearable – to make payments has tripled over the past year, according to a Visa-backed survey. The number of Europeans regularly using a mobile device for payments has tripled from 18 per cent to 54 per cent since 2015, according to the results of an online poll …
John Leyden, 12 Oct 2016
Mobile banking, image via Shutterstock

Not enough competition in payment processing tech, thunders regulator

A UK government regulator is calling for greater competition in banking payment infrastructure provision. The Payments Systems Regulator’s (PSR) market review into the ownership and competitiveness of infrastructure that supports the three major UK payment systems – Bacs, Faster Payments Service (FPS), and LINK – concluded …
John Leyden, 29 Jul 2016

You really do want to use biometrics for payments, beam banks

Two in three European consumers actively want to use biometric technology when making payments, according to a new Visa-sponsored survey. Nearly three in four (73 per cent) see two-factor authentication – where a form of biometrics is used in conjunction with a payment device – as a secure payment authentication method. More …
John Leyden, 14 Jul 2016

Google's Android Pay hits Australia

Android Pay has launched in Australia, with ANZ Bank being the first of the Big Four able to use the phone-only facility. The technology allows mobile payments to be made directly from mobile phones in what payment security types say is a boon to anti-fraud initiatives. It is live for Australia's ANZ Bank, Macquarie, MyState …
Darren Pauli, 14 Jul 2016
Microsoft Wallet

Microsoft hops onboard bonk-to-pay bandwagon

Microsoft has launched its entry into the near-field communications (NFC) mobile payments space. The Microsoft Wallet app will allow Windows Mobile users whose phones are equipped with NFC hardware to link their bank accounts and credit cards to their handsets for retail transactions. Currently, the Wallet app is limited to a …
Shaun Nichols, 22 Jun 2016
Mechanical hands produce gold bars on assembly line. Photo by Shutterstock

What's Zuck planning with his Facebook bots? Maximum $ilo revenue

Analysis Facebook smashed through expectations for its first quarter of the year. A surge in mobile ads saw revenue up 52 per cent to $5.38bn while the user base grew to 1.65 billion – 22 per cent of the world’s population, and extracting every byte of data (and every penny from those bytes) from that existing user base is the company' …
Bitcoin is the future of money CC 2.0 by Jonathan Waller https://www.flickr.com/photos/whitez/

Reformed LulzSec hacktivist joins payments firm

Updated A payments firm has hired reformed LulzSec hactivist Mustafa Al-Bassam (formerly known as tFlow) for a new blockchain research project. London-based payments group Secure Trading has taken on Al-Bassam to help develop a platform that applies the verification benefits of blockchain technology in order to improve the visibility …
John Leyden, 16 Mar 2016
Selection of Australian banknotes

RSA: Fraud may double as 2017 Oz snap bank transfers cut safety nets

Australia's long-awaited instant bank transfer reform will result in more fraud attempts and fewer theft recoveries according to RSA fraud boffin Tim Dalgleish. The reforms known as the New Payments Platform (NPP) is slated for operation late next year and is designed to push the antipodean banks to innovate, while providing …
Darren Pauli, 16 Feb 2016
Parliament in the clouds

GDS to handle Govt payments? What could possibly go wrong?

Be afraid. The previous government’s “elite digital team” which so brilliantly borked most of Whitehall’s websites, and that failed to meet its own targets, may be put in charge of handling real money: your money. New Cabinet Office Minister Matthew Hancock hinted at the opportunity at a gentle public grilling today. Although …
Andrew Orlowski, 22 May 2015
Samsung Galaxy S5

Got a Samsung Galaxy S5? Crooks can steal your fingerprint – claim

RSA 2015 Malware can snaffle fingerprints used to unlock Samsung Galaxy S5 smartphones thanks to a security blunder, researchers claim. The vulnerabilities, due to be discussed at the RSA security conference in San Francisco this week, may be present in non-Samsung Android mobiles, too. Today's smartphones recognize their owners' …
John Leyden, 23 Apr 2015
Funny money from south of the river

BONK for CASH in Brixton and help us EAT the RICH

The Brixton Pound (B£), the private currency for denizens of the slightly more affordable bit of earth next to Clapham, is to adopt near field communications, or NFC, payments. The area – which has become so painfully fashionable the locals are fighting back against poshos buying all the houses – has had its own currency for …
Simon Rockman, 22 Dec 2014

Routine WHAT NOW? Bank of England’s CHAPS payment system goes TITSUP

The CHAPS system used to handle most bank-to-bank transfers in the UK has collapsed, with all mortgage payments currently on pause. We were told that the problem was due to an update over the weekend, when the details of new CHAPS users were being added and old ones removed. This is meant to be a routine operation, but a …
Jasper Hamill, 20 Oct 2014
Apple iPhone 6

Apple's iPhone bonk to 'Pay' app launches on Monday

Update Cupertino's plans to dominate the world of pay-by-bonk have been exposed following the leak of what appears to be a TOP-SECRET Apple Pay training manual. All Apple staffers will apparently take part in an hour's training on the new bonk-to-pay system, which is expected to be launched later this month following an event on 16 …
Jasper Hamill, 13 Oct 2014

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