mobile payment

Samsung Pay apparently just turned one year old

Samsung Pay apparently just turned one year old

It definitely doesn’t feel like it, especially for users in the US, but Samsung has just triumphantly announced that its mobile payment system, Samsung Pay, has just reached its first birthday. Of course, it was launched first in South Korea and took a few months before spreading out to other markets like the US. Within that time, Samsung boasts that it has already made nearly 100 million transactions in its seven current countries, which is no small feat considering who Samsung Pay is up against.

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Samsung Pay MST tech shown to be susceptible to theft, fraud [UPDATE]

Samsung Pay MST tech shown to be susceptible to theft, fraud [UPDATE]

Samsung Pay has surprisingly been enjoying a significant amount of popularity and support in the US, rivaling even Apple Pay. Part of its success can perhaps be attributed to its Magnetic Secure Transmission or MST, a technology it acquired from LoopPay, which allows Samsung Pay to be used with traditional magstrip-based terminals. It seems, however, there might be a very high price to pay for that convenience. In a talk at the Black Hat security conference in Las Vegas, researcher Salvador Mendoza showed how easy it was to steal Samsung Pay's MST data so that hackers and thieves can use credit card data with almost no restrictions.

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Apple Pay goes live in France and Hong Kong

Apple Pay goes live in France and Hong Kong

Apple Pay is now available in France and Hong Kong, allowing Apple users in both countries to use the company’s mobile payment system. As with Apple Pay in other supported countries, those in France and Hong Kong can use certain banking cards to make payments using their Apple Watch or iPhone; in France, MasterCard and Visa debit cards can be used, while in Hong Kong some MasterCard and Visa payment cards are supported, as well as American Express credit cards.

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Android Pay begins its Asian expansion with Singapore

Android Pay begins its Asian expansion with Singapore

On the heels of Samsung launching its own Samsung Pay system in Singapore, Google is now announcing the availability of Android Pay in the same city as well. Largely considered to be tech capital of Southeast Asia, Singapore enjoys being usually the first target of new technologies and platforms in the region. Now Android users in the country will be able to test the promised hassle free benefits of not having to get out your wallet to pay for your next coffee or next McDonald's buy.

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Microsoft Wallet tap to pay is officially out, for Insiders

Microsoft Wallet tap to pay is officially out, for Insiders

It's finally here. Microsoft has finally announced its formal entry into the mobile payments market. Or rather, as Microsoft calls it, cloud-based payment. As reported before, Microsoft Wallet is the new Windows 10 Mobile app that will enable this tap to pay feature for a very select few Lumia models. But since Microsoft has partnered directly with MasterCard and Visa, it means that any contactless payment terminal automagically supports Microsoft Wallet as well. Plus, it supports rewards and loyalty cards right off the bat as well.

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Windows 10 Mobile is getting its own Tap to Pay feature

Windows 10 Mobile is getting its own Tap to Pay feature

There might be some hope for Windows 10 Mobile after all. Well, at least as far as catching up to the big players in the mobile payment race. An internal build of the OS revealed a new feature in the Wallet app that adds not just the ability to pay for purchases via NFC but also to include loyalty and membership cards. Perhaps even better, Microsoft's mobile payment system might be immediately compatible with most, if not all, existing NFC terminals in the market.

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US Bank, MasterCard now supports Android Pay, Samsung Pay

US Bank, MasterCard now supports Android Pay, Samsung Pay

The initial furor over competing mobile payment systems may have died down just a wee bit, but that's because they're silently working to rope in support from more financial institutions and merchants. Although some might consider non-Apple Pay systems to not be that popular, that doesn't necessarily translate to reality. Take for example the recent announcement from US Bank that embraces both Android Pay and Samsung Pay, enabling the two mobile payment methods for the bank's MasterCard holders.

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CurrentC “Apple Pay rival” practically closes its doors

CurrentC “Apple Pay rival” practically closes its doors

Poising your new, still unproven, product as a rival of an existing popular one is a sure way to get noticed, one way or another. But it also sets up expectations that you not be able to meet, ending up with more than just egg on your face. That is pretty much what is happening now to CurrentC, the Merchant Customer Exchange's (or MCX) supposed Apple Pay/Android Pay rival. On its web page, CurrentC testers are not only informed that the beta test ends on June 28, but also that all accounts will be disabled.

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LG Pay “White Card” to be first to have integrated circuit

LG Pay “White Card” to be first to have integrated circuit

By the time LG Pay fully launches later this year, it will probably the youngest and smallest in the still budding mobile payments market. However, it could come with an ace that will, at least in theory, trump even giants like Apple Pay and Samsung Pay. Already leaked before was the "White Card" that will be used with LG Pay, practically a programmable card that can be used on traditional terminals. This would be the first time an integrated circuit or IC will be used in a card for a mobile payment system.

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Fitbit’s Coin acquisition paves way for fitness band mobile payments

Fitbit’s Coin acquisition paves way for fitness band mobile payments

Coin, a four-year-old company that has developed technology for making mobile payments, was acquired by Fitbit this week. The acquisition will give Fitbit access to Coin’s intellectual property pertaining to its wearables payment platform, and will also bring some of Coin’s ‘key personnel’ to Fitbit. The deal spells the end to Coin’s payment products, but opens the door to mobile payments for Fitbit’s own customer base.

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Bank of America’s Cardless ATMs now support Android Pay

Bank of America’s Cardless ATMs now support Android Pay

Google didn't make much of a big splash about Android Pay at I/O 2016, but Bank of America isn't going to let the conference pass without putting a word in. Going on stage with Google senior director for Android Pay Pali Bhat, BoA's head of digital banking Michelle Moore made the big announcement Android Pay users have been hoping for since the beginning of the year. At least those with Bank of America debit cards among them. Now they safely and conveniently withdraw cash from select ATMs without having to whip out their cards or even their wallets.

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Samsung Pay finally supports membership, loyalty cards in US

Samsung Pay finally supports membership, loyalty cards in US

These days, and especially in the US, purchasing items is no longer just a simple case of handing over the exact amount in exchange for a product. A lot of times, discounts or deals are applied via membership perks or loyalty incentives. To put it in perspective, Samsung says that an average American household juggles around 30 loyalty cards, which all add up to bulking your wallet. As part of its mission to digitize money, Samsung Pay is finally getting support for those loyalty cards to make shopping in the US even more convenient.

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