Latest news with #contactlessPayments
Coin Geek
03-06-2025
- Business
- Coin Geek
Apple expands 'Tap to Pay' functionality in Europe
Getting your Trinity Audio player ready... As the race for point-of-sale solutions heats up, Apple (NASDAQ: AAPL) is keen on seizing market share by extending its 'Tap to pay' capability to new European countries. According to a company statement, Apple's contactless payment functionality will be available in eight more European nations. Per the report, merchants in Belgium, Croatia, Denmark, Cyprus, Iceland, Greece, Malta, and Luxembourg will have access to the feature. The Tap to Pay feature will allow merchants to receive customer payments by tapping cards or digital wallets on the merchants' iPhones. Apple says the contactless payment feature will lean on near-field communication (NFC) technology without additional hardware. 'No additional hardware is needed, so merchants can accept payments from wherever they do business,' read the statement. Apple is collaborating with payment service providers and app developers to extend the reach of the Tap to Pay functionality. Fintech firms in the new regions can integrate the Tap to Pay feature in the iOS versions of their apps, improving the ability of merchants to receive payments. Several payment platforms across the eight new EU countries have supported the Tap to Pay feature. Global payment processing company Adyen will support the Tap to Pay feature in all countries except Greece, with European neobank Viva making an expansive presence in the list. Other worthy mentions include Revolut, Stripe, and Worldline, with Apple confirming that PayPal (NASDAQ: PYPL) and NBG Pay will offer support. Furthermore, the statement notes that contactless cards from leading payment networks like Mastercard (NASDAQ: MA) and Visa (NASDAQ: V) will be compatible with the Tap to Pay feature. However, Apple does not mention stablecoins or digital asset payments for the Tap to Pay feature. Apple has been throwing its weight behind NFC payments, famously extending its proprietary feature to third parties in the EU. Tap to Pay functionality race heats up Apple faces stiff competition from other technology giants in the race for contactless payments. Samsung (NASDAQ: SSNLF) has unveiled its Tap to Pay capabilities for digital wallets, supporting Samsung devices and cards that are not assigned to digital wallets. Google Wallet (NASDAQ: GOOGL) has joined the race with a contactless payment offering for kids, extending the scope to wearable tech like smartwatches. Rising contactless payments are tipped to contribute toward the anticipated $3 trillion in U.S. digital payment volume in 2025. Digital wallet adoption in Australia surges to a new all-time high Elsewhere, while Australia's local payment system is one of the most advanced in the world, new data indicates that digital wallet adoption is on the rise. GlobalData reported that digital wallet usage in Australia has surged to a new peak, growing by 32.2% over the last year. Per GlobalData's Payment Instrument Analytics, the total transaction volumes from digital wallets in Australia rose from AUD 126 billion (US$83.2 billion) to AUD 166 billion (US$110 billion). The spike in digital wallet adoption in Australia is not a flash in the pan but a combination of several key factors. GlobalData lead banking analyst Shivani Gupta revealed that the main factor is changing consumer behavior, with mobile-based payments reaching a peak. Furthermore, digital wallet service providers have been increasing their market share in Australia since 2020. Currently, Google, Apple, and Samsung are jostling for market share, luring consumers and merchants with advanced functionalities. For example, Gupta cites Google Wallet's dual network debit card feature, which is designed to support payments via local and international networks. Others are turning to contactless payment functionalities, with Apple and Samsung gaining traction with their Tap to Pay features. Digital wallets are onboarding millions of Australians with the additional functionality of QR codes and stablecoin functionalities, streamlining payments for consumers and merchants in the country. 'Like many markets in Asia Pacific, digital wallet adoption is on the rise in Australia, supported by rising consumer preference for mobile payments, and [the] proliferation of digital wallet brands such as Google Pay, Apple Pay, and Samsung Pay,' said Gupta. These factors have sent digital wallet metrics in Australia through the roof. According to the Reserve Bank of Australia (RBA), nearly 40% of all card transactions in the country are processed through digital wallets. Per the report, the trend is tipped to continue well beyond 2030 at a compound annual growth rate (CAGR) of 13.7%. The forecast predicts digital wallet transaction volumes to reach AUD 336.1 billion (US$221 billion) by 2030. Rising adoption rates across the Asia Pacific The Asia Pacific is the fastest-growing region for digital wallet adoption globally, led by China and India. However, Hong Kong and Singapore are contributing to the soaring metrics with a report tipping digital wallets to surpass credit card use in Hong Kong. Across the region, cash usage has fallen, fuelled by meteoric digital wallet adoption levels. While the private sector is leading the charge, governments are leveraging digital wallets in the region to disburse funds to citizens, pushing the functionality beyond payments. Watch: New age of payment solutions title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
FF News
28-05-2025
- Business
- FF News
Adyen Enables Tap to Pay on iPhone in Seven Additional European Markets
Adyen , the global financial technology platform of choice for leading businesses, has officially enabled Tap to Pay on iPhone in seven new markets: Belgium, Croatia, Cyprus, Denmark, Iceland, Luxembourg, and Malta. The functionality allows businesses such as Suitsupply, an international men's fashion brand with more than 100 stores worldwide, to enable iPhones to accept contactless payments without the need to purchase or manage additional hardware. By expanding Tap to Pay on iPhone to new markets, Adyen continues to provide best in class solutions for in-person payments. 'With Tap to Pay on iPhone, we're enabling a secure, scalable and smooth payment process for merchants and their customers that enhances the shopping experience, rather than interrupting it,' said Alexa von Bismarck, President EMEA at Adyen. ' The in-store experience remains a key touchpoint between consumers and brands, so we're proud to be expanding this offering to even more countries today in partnership with Apple'. 'Tap to Pay on iPhone has been a key component in delivering a best-in-class checkout experience for our customers,' said Valentijn Bolle, IT Product Owner at Suitsupply. 'We've already implemented Tap to Pay on iPhone in every available country, equipping more than 2000 Style Advisors with their own personal device for this purpose. Together with Adyen, we're looking forward to providing this seamless, flexible and efficient payment experience to even more customers across the globe.' Tap to Pay on iPhone accepts all forms of contactless payments, including contactless credit and debit cards, Apple Pay, and other digital wallets, using only an iPhone and a supporting iOS app — no additional hardware or payment terminal needed. Using an iPhone XS or later, running the latest version of iOS, at checkout, merchants will simply prompt the customer to hold their contactless payment method near the merchant's iPhone, and the payment will be securely completed using NFC technology. Tap to Pay on iPhone will enable Adyen's customers to stay at the forefront of innovation by: Simplifying in-person payments by removing the dependence on payment hardware to accept transactions, providing a complementary way to accept payments for line-busting. Getting up and running quickly with installation and onboarding, allowing businesses to scale up their payment operation. Providing safe and fast checkout experiences that increase mobility on location. Allowing for a convenient and secure way to pay for customers since transactions are encrypted and payment data is protected by the same technology that makes Apple Pay private and secure. Tap to Pay on iPhone uses the built-in features of iPhone to keep business and customer data private and secure. When a payment is processed, Apple does not store card numbers or transaction information on the device or on Apple servers. To learn more, visit here . Companies In This Post Adyen
Finextra
27-05-2025
- Business
- Finextra
Adyen enables Tap-to-Pay on iPhone in seven new European markets
Adyen, the global financial technology platform of choice for leading businesses, has officially enabled Tap to Pay on iPhone in seven new markets: Belgium, Croatia, Cyprus, Denmark, Iceland, Luxembourg, and Malta. 0 The functionality allows businesses such as Suitsupply, an international men's fashion brand with more than 100 stores worldwide, to enable iPhones to accept contactless payments without the need to purchase or manage additional hardware. By expanding Tap to Pay on iPhone to new markets, Adyen continues to provide best in class solutions for in-person payments. 'With Tap to Pay on iPhone, we're enabling a secure, scalable and smooth payment process for merchants and their customers that enhances the shopping experience, rather than interrupting it,' said Alexa von Bismarck, President EMEA at Adyen. 'The in-store experience remains a key touchpoint between consumers and brands, so we're proud to be expanding this offering to even more countries today in partnership with Apple'. 'Tap to Pay on iPhone has been a key component in delivering a best-in-class checkout experience for our customers,' said Valentijn Bolle, IT Product Owner at Suitsupply. 'We've already implemented Tap to Pay on iPhone in every available country, equipping more than 2000 Style Advisors with their own personal device for this purpose. Together with Adyen, we're looking forward to providing this seamless, flexible and efficient payment experience to even more customers across the globe.' Tap to Pay on iPhone accepts all forms of contactless payments, including contactless credit and debit cards, Apple Pay, and other digital wallets, using only an iPhone and a supporting iOS app — no additional hardware or payment terminal needed. Using an iPhone XS or later, running the latest version of iOS, at checkout, merchants will simply prompt the customer to hold their contactless payment method near the merchant's iPhone, and the payment will be securely completed using NFC technology. Tap to Pay on iPhone will enable Adyen's customers to stay at the forefront of innovation by: Simplifying in-person payments by removing the dependence on payment hardware to accept transactions, providing a complementary way to accept payments for line-busting. Getting up and running quickly with installation and onboarding, allowing businesses to scale up their payment operation. Providing safe and fast checkout experiences that increase mobility on location. Allowing for a convenient and secure way to pay for customers since transactions are encrypted and payment data is protected by the same technology that makes Apple Pay private and secure. Tap to Pay on iPhone uses the built-in features of iPhone to keep business and customer data private and secure. When a payment is processed, Apple does not store card numbers or transaction information on the device or on Apple servers.
The Sun
13-05-2025
- Business
- The Sun
Major change to ALL checkouts across UK as key deadline passes in huge shake-up for shoppers
SHOPPERS across the UK are facing a major shift at supermarket checkouts. At the centre of the shake-up is the £100 spending cap that has quietly shaped daily purchases. 2 The Financial Conduct Authority (FCA) has closed a consultation that could lead to the removal of the current contactless cap, impacting customers at Tesco, Sainsbury's, Asda, Morrisons and other major supermarkets and retailers. The change, if approved, would affect millions of transactions each day and could make paying quicker and more convenient. At present, contactless payments are capped at £100, meaning anything over that requires chip and PIN or an alternative method. The consultation, which ended on 9 May, was part of wider work announced in January aimed at modernising the UK's payment system and supporting economic growth. It followed a letter sent to Prime Minister Sir Keir Starmer by FCA chief executive Nikhil Rathi, outlining steps to support innovation in financial services. Mr Rathi said removing the limit would offer greater flexibility to both customers and retailers, and bring the UK in line with other countries, particularly the United States, where such limits do not apply. David Geale, executive director of payments and digital assets at the FCA, said: 'Currently 85 per cent of people in the UK make contactless card payments each month. "This is the perfect opportunity to explore whether we can improve and increase trust in the UK's payments system.' The Treasury has also expressed support for the move. Economic Secretary Emma Reynolds described the review as a 'welcome step' that could give families 'more flexibility when making purchases safely.' Despite the possible changes, the FCA confirmed that consumer protections will remain in place. If a contactless card is lost or stolen and used fraudulently, banks will still be required to refund the customer under current legislation. However, there are some concerns about the impact on fraud levels. Jana Mackintosh, managing director of payments and innovation at UK Finance, said: 'Having a contactless limit is important in terms of fraud prevention, but we believe overall limits and the number of times a customer needs to enter a PIN should be determined by industry rather than the regulator.' Retailers have generally welcomed the idea, suggesting that lifting the cap could help reduce queues at busy times and make shopping even more efficient. Some shoppers, however, have raised concerns about security and spending control. The FCA has not yet confirmed whether the limit will be removed or simply raised, but a decision is expected later this year after reviewing responses to the consultation. For now, the £100 limit still applies, but shoppers should stay alert to future updates as a major change to the way we pay could be just around the corner. 2
Independent Singapore
13-05-2025
- Business
- Independent Singapore
American Express cards will be accepted on public transport starting May 15
SINGAPORE: On Tuesday (May 13), the Land Transport Authority (LTA) and American Express issued a joint news release announcing that commuters on public transport may begin using their American Express cards for contactless payments beginning this Thursday (May 15). 'This will provide greater convenience and choice for public transport commuters,' the news release reads. This development will benefit not only locals but tourists as well, since payment systems will accept cards issued by American Express and cards issued by its partner banks in Singapore and other countries. Additionally, commuters may add their American Express cards to their mobile wallets. They do not need to pre-register their cards for public transport rides. This means that they won't need to bring or take a travel card when getting around Singapore or top up stored-value travel cards before going out. 'We are proud to partner with the LTA to bring more contactless payment options to Singapore commuters as this form of payment becomes increasingly popular. For our local and overseas Card Members, including those of our third-party partners, this brings greater convenience as they can now tap, pay, and ride across the ever-expanding bus and train network in Singapore. 'It is important for us to provide our Card Members a seamless payment experience wherever they live, work, and play, and enabling them to use their cards on public transportation worldwide is essential,' said Marlin Brown, American Express Country Manager for Singapore. The LTA added that commuters using American Express will be charged the same fares as those using stored-value travel cards, such as EZ-Link and NETS FlashPay cards. They will also not need to pay any additional fees. Similar to retail transactions, the charges for public transport rides will be seen in the commuter's credit, charge, debit, or prepaid card bills. As for commuters with a SimplyGo app account, they will be able to use the SimplyGo mobile app to check their travel expenses and history. They will also be given the option to receive push notifications for fares incurred after each trip. 'Commuters who carry more than one contactless bank card or travel card are reminded to take out the card they wish to use before tapping at the fare reader, and to use the same card to tap in and out, to avoid charges to multiple cards,' the joint statement added. /TISG Read also: Here's Why You Should Start Considering An American Express (AMEX) Credit Card
