28 October 2016
Below are our top reads from the last seven days of industry news*. Every Friday we'll publish our picks from industry developments, stories and announcements right here so you can keep you up to date with what's happening in payments here and overseas.
If you'd like to have our top reads emailed to you every Friday, let us know by emailing email@example.com
ASB digital piggy banks to help Kiwi kids save
ASB has sent out 50,000 digital piggy banks to customers to encourage Kiwi kids to save. The piggy bank, dubbed Clever Kash, uses bluetooth technology to allow people to swipe coins and notes from their mobile phone app onto a screen on Kash’s belly. The screen updates in real time, showing children (and their parents) their savings account balance.
IBM tackles mobile payments
IBM has launched IBM Pay at the Money 20/20 conference in Las Vegas this week. Since IBM does not make phones, it is relying on Watson, IBM’s artificial intelligence, to provide a point of difference. IBM has also partnered with General Motors to create OnStar Go, a digital dashboard for vehicles that will let drivers pay for fuel, coffees, or parking from the dash. Michael Aaron from IBM will be joining us on the second day of The Point 2016 to talk about how IBM is taking payments to the next level.
R3 opens up blockchain code to the public
R3 has made the code for its blockchain platform publically available in an attempt to create an industry standard blockchain platform. R3 believes it’s better for banks and other financial institutions to develop products that sit on top of this platform, as it will stop the creation of different platforms that will become isolated and unable to communicate with each other.
What you need to know about Australia’s New Payments Platform
Australia’s New Payments Platform (NPP) is still on track to being operational in the second half of 2017. NPP is a collaboration between industry players and will deliver a new set of real time payments rails and overlay services. Find out more about Australia’s NPP from Chair, Paul Lahiff, at the second day of The Point 2016.
And in the race of digital innovation between card schemes…
Visa explores B2B payments using blockchain; digital wallets
In the US Visa has partnered with Chain to pilot a new B2B payment platform using blockchain, called Visa B2B Connect. They reckon the new platform should provide accurate costings, faster transaction times, and more transparency. Visa has also announced that it will open its Visa Checkout platform to partners with Google’s Android Pay being among those taking advantage of this new open platform.
Mastercard builds partnerships for digital expansion
Also in the US, Mastercard will be partnering with Microsoft, Google, and Samsung to integrate Masterpass into digital wallets. The move will let users of Google Wallet, Android Pay, or Samsung Pay shop at online stores that accept Masterpass from early next year. Mastercard has also announced a partnership with Kasisto to build a bot that will answer customers’ questions and solve their problems through Facebook messenger. Separately, Mastercard is also teaming up with Fit Pay to bring contactless payments to wearable and Internet of Things devices.
*These articles cover a range of topics from broad payments industry news here and overseas. They do not represent the views of Payments NZ and are not endorsements.