The Future of Digital Payments

Total Page:16

File Type:pdf, Size:1020Kb

The Future of Digital Payments March | April 2016 | paymentscardsandmobile.com in this issue Card Notes The changing global risks landscape in 2016 Real-time payments The need for speed Issuing & acquiring The future of the merchant payment ecosystem Contactless How UK payment habits The future of compare internationally digital payments The payments landscape beyond 2016 Let’s shape your future Enter the customer-centric digital world Merchant Services & Terminals Leveraging the customer engagement Mobility & eTransactional Services Enabling strategic digital transformation Financial Processing & Software Licensing Combining Innovation and Agility with Industrial payment processing Visit us at Money 2020 Europe 2016 Booth #A14 worldline.com Let’s shape your future Enter the customer-centric digital world www.paymentscm.com March | April 2016 Volume 8, Number 2 Editor-in-chief and publisher Alexander Rolfe Merchant Services Tel +44 1263 711 800 & Terminals [email protected] Editor If it ain’t digital and it ain’t fast, don’t bother! Leveraging Joyrene Thomas the customer Tel +44 1263 711 800 engagement [email protected] In this issue of PCM we acknowledge that three years in the Contributors payments industry is a very long time. The first findings of the Digital Joyrene Thomas Payments Report show just how far we have moved as an industry Head of Business Development and how the once-great have fallen. Wendy Sanders Tel +44 1263 711 801 In particular it is clear from the report that the once-strong and influential mobile Fax +44 1263 456 100 network operators have fallen from prominence in the digital wallet space and are [email protected] largely seen as being irrelevant in the conversation. Notably the payment networks, Mobility General Manager banks and handset manufacturers are seen as being the strongest in this area. The & eTransactional Gemma Haywood report offers a rich seam of insight into the three main regions in the world and Tel +44 1263 711 800 compares the various trends that are expected to unfold at different times across Services Fax +44 1263 456 100 those regions. Enabling strategic [email protected] Subscriptions and General Meanwhile the real-time payments conversation has moved into top gear. The need digital transformation Kaye Skinner for speed and for systems that are capable of delivering near real-time payments Tel +44 1263 711 800 Fax +44 1263 456 100 has never been greater. There are currently 18 deployments of real-time payments [email protected] systems around the world with a pretty even split by region — and more are in the Address planning stage with a super-system being discussed for the Eurozone. Payments Cards and Mobile The Stable, Hall Yard With so much going on and with speed and momentum building, it’s never been a Kelling, Holt more interesting time to be in payments. Financial Processing NR25 7EW & Software Licensing United Kingdom Cover, Design and Origination Adam Unsworth Combining Innovation Alexander Rolfe, and Agility with Printing Editor-in-chief and publisher, Industrial payment Micropress Printers Payments Cards & Mobile processing All rights reserved. No part of the publication may be reproduced or transmitted in any form without the publisher’s prior consent. Editorial Advisory Board While every care is taken to provide accurate information, the publisher cannot accept John Berns June Felix Visit us at Money 2020 liability for errors or omissions, no matter how President – Europe, Verifone Europe 2016 caused. Managing Partner, Accourt Payment Cards and Mobile™ Sylvie Boucheron-Saunier Denise Gee Booth #A14 is owned and published by General Manager, Continental Europe, ACI Director, Magna Carta PaymentsCM LLP ISSN 1759-829X Robert Courtneidge Simon Hardie Global Head of Cards and Payments, Director, Magna Carta worldline.com © PaymentsCM LLP 2016 Locke Lord contents news in brief 25. €1 billion revenue from mobile features wallets in Europe from 2021 6-7. The payments world in 60 days Mobile wallet transaction numbers in the 16. COVER STORY: European Union will experience a CAGR of card notes The future of digital 61.8 percent over 2016-2021, ensuring the payments revenue for the payments industry will pass 8. The changing global risks the €1 billion bar by 2021. landscape in 2016 Advancements in digital The increased likelihood of the top risks technology continued to shape regulation materialising is shaping the global risk the payments industry in 2015 agenda, according to the Global Risks as mobile, online and other 26. EU Commission and US agree Report 2016 from the World Economic digital forms of payments EU-US Privacy Shield Forum. moved into the mainstream. On 02 February 2016 the European Commission and the US announced a 9. EU Commission pushes for faster 20. Real-time political agreement on a new framework adoption of Anti-Money Laundering payments: The need for transatlantic data flows. Directive for speed The fourth EU Anti-Money Laundering (EU AML) Directive came into force in June Consumer-facing technology 2015, meaning member states have two brands have done much to years to transpose the provisions into reset customer expectations national law. around speed, what are the implications for the payments 12. Digital ready, steady, go industry? The journey to digital money is a long one without quick fixes. However the digitisation of money flows has a positive mobile payments impact on financial inclusion, and on governments, businesses and consumers. 13. GSMA announces IOT guidelines 28. Global mobile payment market The GSMA has published new to reach $620 billion in 2016 12. Apple and FBI face-off guidelines designed to promote the With major smartphone brands Apple and It has been billed variously as a battle secure development and deployment Samsung making a big entrance into the of privacy versus security, or security of services for the growing Internet of mobile payment business, the total revenue versus surveillance, Things (IoT) market. of the worldwide mobile payment market as the world’s in 2015 reached $450 billion. biggest brand issuing & acquiring and the FBI face off 24. The future of the merchant against each payment ecosystem another. There is a clear strategic need for acquirers, particularly in Europe, to 13. Cybercrime look beyond payments and payment underground split along national processing for new sources of revenue. 29. UK banks could lose 45 percent lines of their customers to alternative Cybercrime is a large, present and 25. Card payments in Asia Pacific set financial institutions evolving threat to all organisations to double to $19.5 trillion by 2020 A new study by Personetics has revealed operating online. In 2015, global security The value of card payments in Asia that nearly half of traditional UK bank software company, Trend Micro, Pacific grew by 25 percent in 2014 to customers could switch their current published a series of reports examining reach $9.0 trillion, accounting for just account to an alternative financial the cybercrime undergrounds ofvarious under half of the global total card institutions (AltFI) such as a challenger bank, countries. expenditure. retailer, or FinTech companies. 04 payments cards and mobile | March | April 2016 www.paymentscm.com contents contactless 36. Amazon acquires India’s 39. BIXOLON releases SPP-R200III Emvantage Payments Bluetooth and WiFi printer 30. How UK payment habits Amazon’s investment in the Indian BIXOLON has announced the launch of compare internationally e-commerce market has continued with the SPP-R200III 2-inch, WiFi and Bluetooth Payments UK, the trade association for the the e-tailer announcing it has agreed a Printer with NFC for POS, payments and payments industry, has published a second deal to acquire local online payments firm, auto-ID markets. report in its World Class Payments series, Emvantage. titled: How consumers around the world contracts make payments. 41. MasterCard reportedly bids £1 30. Cash remains king - despite billion for VocaLink explosive contactless growth MasterCard has reportedly drawn up plans LINK figures reveal that cash withdrawals for a takeover of VocaLink, the bank- from LINK ATMs in 2015 amounted to a 36. Omni-channel payments: myth owned company which handles £6 trillion- record £128 billion. or reality? worth of payments in the UK each year. The top technology challenges 31. Global mobile proximity payment retailers face around omni-channel are 41. TSYS deal for card issuers and users to surpass 1 billion by 2019 incompatible systems, data integration and merchants to combat fraud Mobile proximity payments are the the ability to track customers, according to TSYS announced an agreement with smallest, but fastest growing segment for new research from ACI Worldwide. Ethoca, a provider of collaboration-based mobile payments, according to global technology that enables card issuers and analyst firm Ovum. products e-commerce merchants to help minimise card-not-present fraud, recover lost 31. Android Pay to hit UK in March – 39. Megafon quits mobile payment revenue and eliminate chargebacks. LG Pay delayed platform Android Pay, Google’s Megafon, the Russian mobile operator, has 41. Wirecard acquires Brazilian mobile payments reportedly shut down its mobile payment online payment service provider service, is set to launch platform Megafon Money. Wirecard has acquired all shares of the in the UK in March Brazilian company Moip Pagamentos S.A., 39. Google launches face biometrics a fast-growing internet payment service pos terminals payment app provider founded eight years ago. Google has launched a new app 34. The POS of the future called Hands Free that does not require conferences The point of sale (POS) of the future will be you to take your phone out of your pocket. more intelligent and powerful. It will also be 42. Conference season kicks off more functionally-rich, value-adding and PCM kick-started its 2016 conference cloud-based. season with two great events. e-commerce 39. Powa Technologies sells business 36.
Recommended publications
  • In This Issue
    Welcome to the January edition of ACT News. This complimentary service is provided by ACT Canada; "building an informed marketplace". Please feel free to forward this to your colleagues. In This Issue 1. Editorial - payment innovation: where is the bar? 2. Desjardins and MasterCard bring new payment options to Canadians 3. Nanopay acquires MintChip from the Royal Canadian Mint 4. Canadian payments market transition: a study by the Canadian Payments Association 5. Suretap and EnStream take big steps forward with Societe de Transport de Montreal in mobile ticketing 6. New credit union association launches in Canada: Canadian Credit Union Association 7. Global study shows increasing security risks to payment data and lack of confidence in securing mobile payment methods 8. Samsung Pay to move online in 2016 9. Elavon delivers Apple Pay for Canadian businesses 10. Beware alleged experts’ scare tactics on mobile payments 11. Ingenico Group accelerates EMV and NFC acceptance in unattended environments with new partner program 12. Paynet delivers a safer payment service with Fraudxpert to its customers 13. VeriFone expands services offering for large retailers in the US and Canada with agreement to acquire AJB Software 14. VISA checkout added to Starbucks, Walmart, Walgreens 15. Gemalto is world's first vendor to receive complete MasterCard approval for cloud based payments 16. ICC Solutions offers a time-saving method and free guide for training staff to process card payments correctly ready for the new year! 17. Walmart adds masterpass as online payment method 18. Equinox and ACCEO partner to deliver integrated retail payment solution 19. UL receives UnionPay qualification for Chinese domestic market 20.
    [Show full text]
  • List of Brands
    Global Consumer 2019 List of Brands Table of Contents 1. Digital music 2 2. Video-on-Demand 4 3. Video game stores 7 4. Digital video games shops 11 5. Video game streaming services 13 6. Book stores 15 7. eBook shops 19 8. Daily newspapers 22 9. Online newspapers 26 10. Magazines & weekly newspapers 30 11. Online magazines 34 12. Smartphones 38 13. Mobile carriers 39 14. Internet providers 42 15. Cable & satellite TV provider 46 16. Refrigerators 49 17. Washing machines 51 18. TVs 53 19. Speakers 55 20. Headphones 57 21. Laptops 59 22. Tablets 61 23. Desktop PC 63 24. Smart home 65 25. Smart speaker 67 26. Wearables 68 27. Fitness and health apps 70 28. Messenger services 73 29. Social networks 75 30. eCommerce 77 31. Search Engines 81 32. Online hotels & accommodation 82 33. Online flight portals 85 34. Airlines 88 35. Online package holiday portals 91 36. Online car rental provider 94 37. Online car sharing 96 38. Online ride sharing 98 39. Grocery stores 100 40. Banks 104 41. Online payment 108 42. Mobile payment 111 43. Liability insurance 114 44. Online dating services 117 45. Online event ticket provider 119 46. Food & restaurant delivery 122 47. Grocery delivery 125 48. Car Makes 129 Statista GmbH Johannes-Brahms-Platz 1 20355 Hamburg Tel. +49 40 2848 41 0 Fax +49 40 2848 41 999 [email protected] www.statista.com Steuernummer: 48/760/00518 Amtsgericht Köln: HRB 87129 Geschäftsführung: Dr. Friedrich Schwandt, Tim Kröger Commerzbank AG IBAN: DE60 2004 0000 0631 5915 00 BIC: COBADEFFXXX Umsatzsteuer-ID: DE 258551386 1.
    [Show full text]
  • How Financial Technologies Are Revolutionizing the Financial Industry
    HOW FINANCIAL TECHNOLOGIES ARE REVOLUTIONIZING THE FINANCIAL INDUSTRY Lucie Duval Dissertation submitted as partial requirement for the conferral of Master in Finance Supervisor: António Freitas Miguel, Assistant Professor of Finance, Department of Finance, ISCTE Business School September 2016 NIZING THE THE FINANCIAL NIZING INDUSTRY Lucie Duval LOGIES ARE LOGIESREVOLUTIO ARE HOW FINANCIALTECHNO Abstract Financial technologies (fintech) have known an incredible exposure over the last years, attracting investments of large billions of dollars. Fintech can be seen as the match between finance and technology and they are imposing a way of thinking in all the branches of the financial industry. The main aim of this dissertation is to study how the financial technologies are revolutionizing the financial industry. After the financial crisis of 2008, customers have changed their ways of seeing “Finance” and, more particularly, “Banks”, looking for products and services responding to their needs. Moreover, the financial crisis has highlighted a relevant number of dysfunctions of the banking sector and on the financial regulation. Regulators have strengthened their requirements for banks, particularly in their relations with clients. These have opened a breach for Fintech companies and they are using it. Fintech companies rely on a different value proposition to clients that is based on a timesaving, fast and clear experience. Indeed they are proposing majors innovation in products and also in the processes. Fintech companies have put the customer back at the center of all their attention; customer becomes again the top priority. Financial technologies have already revolutionized the finance industry even if their impact on the market, for the moment may still be seen as trivial.
    [Show full text]
  • Novi Načini Poslovanja Banaka Na Primjeru Zagrebačke Banke D.D
    Novi načini poslovanja banaka na primjeru Zagrebačke banke d.d. Maričić, Ivan Master's thesis / Diplomski rad 2018 Degree Grantor / Ustanova koja je dodijelila akademski / stručni stupanj: University North / Sveučilište Sjever Permanent link / Trajna poveznica: https://urn.nsk.hr/urn:nbn:hr:122:771432 Rights / Prava: In copyright Download date / Datum preuzimanja: 2021-10-05 Repository / Repozitorij: University North Digital Repository SVEUČILIŠTE SJEVER SVEUČILIŠNI CENTAR VARAŽDIN DIPLOMSKI RAD br. 233/PE/2018 NOVI NAČINI POSLOVANJA BANAKA NA PRIMJERU ZAGREBAČKE BANKE D. D. Ivan Maričić Varaždin, ožujak 2018. SVEUČILIŠTE SJEVER SVEUČILIŠNI CENTAR VARAŽDIN Studij Poslovna ekonomija DIPLOMSKI RAD br. 233/PE/2018 NOVI NAČINI POSLOVANJA BANAKA NA PRIMJERU ZAGREBAČKE BANKE D. D. Student: Mentor: Ivan Maričić, 0361/336 D izv. prof. dr. sc. Ante Rončević Varaždin, ožujak 2018. Predgovor U ovom radu želi se ukazati na važnost novih tehnologija u bankarskom poslovanju koje svakodnevno mijenjaju načine poslovanja, načine komunikacije i načine razmišljanja. S jedne strane postoji tehnologija koja, htjeli to ili ne, sve više zauzima prostora u našoj svakodnevnici koju čini praktičnijom i lakšom dok s druge strane je servis bez kojeg je danas teško zamisliti bilo kakav razvoj ili proces, servis koji nije vidljiv, a svi ovisimo o njemu – bankarski servis. Ovaj rad na temu Novi načini poslovanja banaka na primjeru Zagrebačke banke d.d. ukazati će koje su to nove tehnologije u primjeni, što se to promjenilo, čega nije bilo prije i što je ili će biti u novom poslovanju banaka, odnosno Zagrebačke banke d.d.. Sažetak Četvrta industrijska revolucija (Industrija 4.0) ili integrirana industrija internet stvari i internet usluga postaje sastavni dio poslovanja svakog poduzeća.
    [Show full text]
  • January 2016 Innovation Grows Where Mpos Goes
    JANUARY 2016 INNOVATION GROWS WHERE MPOS GOES The mPOS market in America alone is expected to grow at a CAGR of 51% during the forecast period 2016-2020. That’s largely contingent on prolific growth in the number of mobile phones and the payment methods it enables. However, the length and breadth of mPOS’ potential can be reached only if hardware innovation keeps up with software applications. Mobile point of sale is essential for growing micro- merchants, but the technology isn’t always accessible to them. Verifone’s latest platform could be a case in point to take innovation further and make it accessible where it matters. Erik Vlugt, VP of Global Products at Verifone, recently discussed with MPD CEO Karen Webster how Verifone plans to change the space with the recent release of its new e265 mPOS platform. e265 marks “a continued investment on Verifone’s part in mobile POS in general,” Vlugt said, calling it “one more product in our digital line.” “We are committed to the wonderful world of mPOS -- and that’s not going to change; we see huge growth there globally,” Vlugt added. In this particular case, as Vlugt explained, the e265 is based on a proven platform called the e355, which has been very successful with larger retailers in the market, especially in the integrated space. “We are now taking a lot of those same benefits and features to smaller segments as well,” said Vlugt. “The smaller segments typically have a Verifone payment terminal, which has served them well over time, but in some cases these merchants want to add more functionality to overall customer engagement including things they’re doing on tablets and handheld devices.” These sorts of engagement activities may include loyalty, other commerce applications, things with price checking and so on.
    [Show full text]
  • EMV: the Aftermath Survey Results Click Here to Learn This Report Includes: Current Estimates on EMV Market More
    Mar. 4th, 2016 Edition #496 Highlights This Week... Categories Breaking Down Apple's iPhone Fight with the U.S. Government Featured Credit Unions Feeling Pinch in Wendy's Breach Financial Services Set for a Fundamental Shake-Up Mobile Payments & President Barack Obama Nominates Robert O. Carr Bitcoin to Serve on National Infrastructure Advisory Council Bitcoin's Nightmare Scenario Has Come to Pass Regulation & Security American Express' Digital Wallet Patent Promises to Economy Innovate Loyalty Rewards TSG Promotes Andrew Nuss to Director of Marketing Payments Press Dwolla Fined $100,000 for Misleading Data Security Claims Want to Advertise in NF? NEW eReport - EMV: The Aftermath Survey Results Click here to learn This report includes: current estimates on EMV market more. readiness, current and historic expectations for future EMV market readiness, use of EMV-related fees, chargeback issues, impact of the media on EMV efforts, EMV This Day implementation pain points, and aggregated respondent in History: 1933 demographics. FDR Inaugurated On March 4, 1933, at the Click here for a sample. height of the Great Depression, Franklin Delano Roosevelt is Purchase now for $795. inaugurated as the 32nd In case you missed it: TSG's EMV Aftermath Infographic president of the United States. In his famous inaugural address, delivered outside the east wing of the U.S. Capitol, Roosevelt outlined his "New Deal"-an expansion of the federal government as an instrument of employment opportunity and welfare-and told Americans that "the only thing we have to fear is Featured fear itself." Although it was a rainy day in Washington, Breaking Down Apple's iPhone Fight With the U.S.
    [Show full text]
  • Payment and Settlement Systems of the Bank for International Settlements and the International Organization of Securities Commissions
    The Central Bank of the Russian Federation Payment and Settlement PSS Systems Analysis and Statistics No. 41 The National Payment System in 2012 2013 © The Central Bank of the Russian Federation, 2007 107016 Moscow, Neglinnaya St., 12 Prepared by the Bank of Russia National Payment System Department E-mail: [email protected] The survey was prepared for print by the Periodicals Division of the Bank of Russia Press Service The survey is available on the Bank of Russia website at: http://www.cbr.ru THE NATIONAL PAYMENT SYSTEM IN 2012 ANALYSIS AND STATISTICS – No. 41. 2013 Contents INTRODUCTION .............................................................................................................................7 CHAPTER I. PAYMENT SYSTEMS .....................................................................................................9 I.1. Payment systems registered by the Bank of Russia ............................................................10 Box 1. Payment systems’ importance criteria ........................................................10 Box 2. The National Settlement Depository ............................................................12 I.2. The Bank of Russia Payment System ................................................................................19 I.2.1. Functionality and services provided by the Bank of Russia .........................................19 I.2.2. Interaction with the Federal Treasury and other federal executive bodies ....................23 I.2.3. Quantitative and qualitative characteristics of
    [Show full text]
  • 10 Things You Can Do to Avoid Fraud Credit Builder Loans
    MoneyLineLine 10 THINGS YOU CAN DO TO AVOID FRAUD CREDIT BUILDER LOANS EMBRACE OUR eSERVICES JULY 2020 PHILADELPHIA FEDERAL CREDIT UNION If you spot a scam, report it at ftc.gov/ complaint. Your reports help the FTC and other law 10 THINGS YOU CAN DO TO AVOID FRAUD enforcement investigate scams and bring crooks Crooks use clever schemes to defraud millions of people every year. ! to justice. They often combine new technology with old tricks to get people to send money or give out personal information. Here are some practical tips to help you stay a step ahead. Spot imposters. Scammers often pretend to be someone you trust, like a government official, a family member, a charity or a 1 company you do business with. Don’t send money or give out personal information in response to an unexpected request – whether it comes as a text, a phone call or an email. Consider how you pay. Credit cards have significant fraud Do online searches. Type a company or product name into protection built in, but some payment methods don’t. Wiring your favorite search engine with words like “review,” “complaint” 5 money through services like Western Union or MoneyGram 2 or “scam.” Or search for a phrase that describes your situation, is risky because it’s nearly impossible to get your money back. like “IRS call.” You can even search for phone numbers to see That’s also true for reloadable cards (like MoneyPak or Reloadit) if other people have reported them as scams. and gift cards (like iTunes or Google Play).
    [Show full text]
  • LG V60 Thinq 5G
    ENGLISH USER GUIDE LM-V600VM OS: Android™ 11 Copyright ©2021 LG Electronics Inc. All rights reserved. MFL71797801 (1.0) www.lg.com Important Customer Information 1 Before you begin using your new phone Included in the box with your phone are separate information leaflets. These leaflets provide you with important information regarding your new device. Please read all of the information provided. This information will help you to get the most out of your phone, reduce the risk of injury, avoid damage to your device, and make you aware of legal regulations regarding the use of this device. It’s important to review the Product Safety and Warranty Information guide before you begin using your new phone. Please follow all of the product safety and operating instructions and retain them for future reference. Observe all warnings to reduce the risk of injury, damage, and legal liabilities. 2 Table of Contents Important Customer Information...............................................1 Table of Contents .......................................................................2 Feature Highlight ........................................................................5 Camera features ................................................................................................... 5 Audio recording features ....................................................................................10 LG Pay ..................................................................................................................12 Google Assistant .................................................................................................14
    [Show full text]
  • REAPCHAIN.Inc Contents
    REAPCHAIN.Inc Contents 1. Abstract 03 2. ReapPay Business Overview 04 2-1. Overview and status of the simple payment/remittance market 2-2. Simple payment/remittance market technology overview 2-3. Necessity of ReapPay 3. Definition of service (business) content and technology 11 3-1. O2O platform service - ReapPay / ReapPick / ReapOrder 3-2. O2O platform additional service - Integrated settlement and sales omission prevention service/ Next day payout (pre-settlement) service/Customized advertisement (Push) service 3-3. Cryptocurrency deposit and microloan service 3-4. Overseas simple payment and remittance service 4. ReapPay Ecosystem 23 4-1. ReapPay Ecosystem 4-2. Use of ReapPay for Pay 4-3. Business and revenue model 4-4. ReapPay Reward Policy 5. Target market and entry strategy 28 5-1. Global market status 5-2. Chinese market analysis and commercialization strategy 5-3. Detailed strategy for entering China - Establishment of foreign-funded companies and partnerships with local companies 6. Expected Sales and Profitability 34 6-1. Expected sales and profits according to the strategy to enter China 6-2. Expected domestic sales and revenue 1. Abstract 1. Abstract With the development of digital technology and various changes in the financial system, we are now living in a society where mobile payments such as Internet banking, Samsung Pay, and Alipay are common. However, the modern financial system has various side effects such as security, information cost, transaction stability, and maintenance cost due to its centralized system, and enormous technical and cost matters must be maintained and built. In other words, since the current financial payment system consists of a complex network that is organically coupled with each other, such as various institutions and companies, it is necessary to build a payment system that is compatible with each other, an authentication system for internal information exchange, and a messaging network.
    [Show full text]
  • Credit Card Conversion
    ® visacredit card conversion visa® business credit card member resource guide what you’ll find inside: The conversion of Service 1st Federal Credit Union’s Visa® Platinum and Business Credit Cards is scheduled to occur on Sunday, May 16, 2021. We are excited to bring you a card with more benefits and added security. Our primary goal is to make this a smooth transition. Our Resource Guide includes important dates, benefit information, a link to your Visa® Guide to Benefits and a comprehensive list of frequently asked questions. If you have a question that isn’t covered within our guide, don’t hesitate to call our Contact Center at 800.562.6049. • Communication Timeline - page 1 • Member Resources and Reference Materials - page 2 • Credit Card Benefits - page 3 • Frequently Asked Questions - page 4 mark your calendar! We want to make sure you are informed every step of the way. Below are a few dates to keep in mind as we get closer to the conversion date in May. • April 7 - May 17 - If you need to request a name or address change at this time, please note that it will be processed but not visible to you until after May 17, 2021. • Now - May 14, 2021 - If you need to request a temporary increase or update your phone number, you can do so through May 14, 2021 or on/after May 17, 2021. • April 27, 2021 – May 7, 2021 – Watch your mailbox! Your new card will be on its way! • May 13, 2021 – This is the last date to access the EZ Card site.
    [Show full text]
  • October 2015 Cover Story
    OCTOBER 2015 COVER STORY Six different letters of the alphabet are turning the mPOS segment on its head these days: EMV and NFC. iZettle announced in late June that it would be the first to NFC enable its mPOS reader which was EMV-enabled from the start. As a technology company headquartered in Sweden, for its mPOS solution to work, that was a critical requirement, but its announcement in July was intended to signal its compatibility with Apple Pay, which launched in July in the U.K. Then, later that summer, Square announced that it would NFC enable dongles for micro- merchants to use. EMV was something it had incorporated into its readers earlier in the year and its newfound embrace of NFC was intended to also ride the “Pay” bandwagons in the U.S. – Apple and Android. Square also said that it planned to give away 250k of them to give micro- merchants the same acceptance leg up that larger retailers have in accepting not only chip payments but mobile-enabled EMV payments. And just this week, PayPal threw its mPOS hat into the EMV/NFC ring. PayPal Here, which, today, is compatible with iOS and Android devices, now accepts chip cards (both EMV chip-and-PIN and EMV chip-and-signature), magnetic stripe and NFC transactions, including Apple Pay, Android Pay and Samsung Pay, along with other NFC-enabled devices and cards. All of this is part of PayPal’s plan to integrate payments within a more tailored solution for retailers. A recent study shows that mPOS will juxtapose the proliferation of mobile services in retail — for pushing offers, tracking inventory and sales.
    [Show full text]