Visa Taps the Cloud for New Mobile Payment System
Visa today introduced a cloud-based mobile payment system that can be used by retailers and financial institutions to add wave-and-pay functionality to their apps, services, and retail locations. Most mobile payment systems rely on the customer's financial data being stored in a secure chip on the phone, which is then accessed during sales transactions. Visa's new system stores the customer's financial details in its own cloud thanks to Android's Host Card Emulation (HCE) feature. According to Visa, "HCE allows any NFC application on an Android device to emulate a smart card" so the user can make tap-and-go payments. The new system works in conjunction with Visa's existing payWave terminals. Visa is releasing the initial standard for NFC cloud-based mobile payments today, and will add support for QR codes and in-app payments down the road. Visa eventually plans to release an SDK so its clients can write their own cloud-based payment applications. Separately, MasterCard announced a similar HCE-based initiative that it is working on with Capital One in the U.S. and Banco Sabadell in Europe. MasterCard expects to publish its standards by June. Both companies hope to expand the use of smartphones - rather than actual credit cards - to make retail payments.
Moto's new g-series phones bring up-to-date features, upgraded specs, and clean Google software to three models ranging from $200 to $300. This year's series moves to a notched-screen design, steps up to a Qualcomm Snapdragon 632 processor, and supports USB-C across the board.
May 27, 2020
This summer, Samsung will launch Samsung Money by SoFi, a new financial product integrated with Samsung Pay. Like Apple Card, Samsung Money can be used as a payment method with the wallet app (Samsung Pay), the account is managed within the wallet app, and the product also includes a physical payment card.
Nov 18, 2020
Google today launched a major revamp of its Google Pay app with a new interface and several major new features. Instead of a stack of cards and list of transactions, the new interface centers around the people and businesses you exchange money with, with a conversation-style interface for each person, group, and business.
Feb 11, 2020
Samsung today announced its new flagship phones for 2020: the Galaxy S20, Galaxy S20+, and Galaxy S20 Ultra. In the US, all three models support 5G and are powered by Qualcomm's newest top-end Snapdragon 865 chipset paired with 12 GB of LPDDR5 RAM.
Jun 18, 2019
Facebook today announced Libra, a new digital currency that aims to combine the best features of other cryptocurrencies in order to be more consumer-friendly. The currency will be administered by the Libra Association, a new non-for-profit based in Geneva.