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Covid-19 has accelerated the trend towards contactless cash withdrawals in Switzerland, according to SIX, which says that more than a third of machines in the country are now equipped with QR code readers while another 20% have NFC readers. 
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Chinese giant UnionPay is making its way to North America through the launch of its QuickPass HCE-based contactless mobile payments service in Canada.
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Olympic and Paralympic Games sponsor Visa is handing out NFC-enabled rings to favoured athletes competing in Rio this summer, enabling them to mak
Vineet Anand's insight:
Visa is adding 4000 NFC terminals across RIO avenues to facilitate contactless payments. 45 athletes (wonder why so small a number) will be provided rings with NFC chips... having applied NFC to cufflinks, bracelets, straps, gloves, and now rings will assess customer affinity to such products. Apple and other Watches with NFC have seen limited traction for contactless in US - its a journey for contactless.
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Wells Fargo has built a new mobile wallet that enables customers to carry out NFC-based in-store payments as well as ATM transactions with thei
Vineet Anand's insight:
Wells Fargo embraces Android NFC phone users for store payments and ATM. Interestingly 40% of WF ATM's will be NFC enabled by end of the year!
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More than 3.2 million journeys have been made on London's transport network by passengers tapping in and out with a mobile device, new figures reveal.
Vineet Anand's insight:
Tfl reports 1 million contactless journeys a day with 300 million executed since launch in Dec 2012. Mobile payments now make 3.5% of all contactless and the numbers are growing. Customer adoption from tap&go cards to mobile phones is a faster path than experienced in US, where EMV and NFC has been slow to make it way to market! US will continue to be far behind developed markets like UK and Australia for contactless and phone pay adoption.
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Fit Pay, a wearable payments startup founder by former Visa and CyberSource executives, has raised $3.1 million in a seed funding round led by Germany's Giesecke & Devrient.
Vineet Anand's insight:
Fit Pay raises seed funding led by G&D. Platform enables wearable OEM to add contactless payment capabilities!
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Finextra: MasterCard is looking to bring payments to a wide array of fitness bands, smart watches and other wearable devices through a partnership with consumer electronics and financial software startup Coin.
Vineet Anand's insight:
Following Barclays and Visa foray into wearables, MasterCard patterns with a number of companies including Coin, Moov using MDES.
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Finextra: Card scheme China UnionPay has teamed up with over 20 local banks to launch an HCE-based contactless mobile payments service.
Vineet Anand's insight:
CUP to launch mobile HCE tokenized payment solution in collaboration with 20 local banks!
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Finextra: Spectacular growth in the volume and value of contactless payments across the European Union during 2014 has set the scene for a mass-market breakthrough over the coming years as new mandates by Visa and MasterCard accelerate the roll out of new cards and terminals across the region.
Vineet Anand's insight:
New mandates from Visa and MasterCard to drive usage and issuance of contactless cards. MasterCard and Visa have both mandated that new terminals should be capable of accepting contactless transactions by the beginning of 2016 and all existing terminals should be converted by the beginning of 2020.
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Finextra: MasterCard is looking beyond cards and mobile phones, launching a programme that will let partner firms turn anything from purses to keyfobs to jewellery in contactless payments devices.
Vineet Anand's insight:
MasterCard launches program to drive wearables and IOT for contactless payments.
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Finextra: Apple and Google may have boosted awareness of mobile payments in North America over the last year, but actual usage has remained flat, according to a survey from Accenture.
Vineet Anand's insight:
Accenture survey of 4000 mobile users affirms other research for mobile payments in NA:
Merchant acceptance across with NFC devices is another factor for slow adoption. EMV / NFC terminals are across only 40% of merchants today in a market of ~23 million merchant terminals. UK will steer ahead of US market with its 400k merchants with contactless terminals and nearly 3 in 5 cards are used for contactless transactions. Wearables will see a faster adoption in UK vs. US driven by consumer high use of contactless cards already.
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Norwegian startup Zwipe, which is taking aim at payment card PIN codes and passwords with an embedded fingerprint reader technology to authenticate card..
Vineet Anand's insight:
Zwipe fingerprint cards to launch in a European market in partnership with MasterCard Q1/2016!
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Finextra: Swatch has teamed up with China UnionPay and Bank of Communications to introduce a watch with inbuilt contactless payments functionality.
Vineet Anand's insight:
Swiss watchmaker Swatch launches NFC enabled watch models in partnership with CUP and BOC. Future launches in Switzerland and US!
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Finextra: Over 180 million journeys have been made using contactless payments on London's transport network in the first year since its launch, accounting for one-in-seven of all such transactions in the UK.
Vineet Anand's insight:
Contactless payments on rise with 180 million transactions during the 1st year of London Transport Network. The spend on contactless has doubled since last year with PS2.5 billion spend during the 1st half of 2015!
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Finextra: Google has begun rolling out Android Pay in the US, enabling users to make instore mobile NFC payments at more than a million locations across the country.
Vineet Anand's insight:
Android Pay launched in US market without much noise and fanfare unlike Apple Pay. NFC enabled devices on all US mobile carriers to support Android Pay, as part of the Softcard deal. SamsungPay will be soon launching in US.
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Finextra: While Barclays continues to drag its heels on mobile payments via iPhones, it is set to become the first UK bank to introduce contactless payments from any NFC-enabled Android phone.
Vineet Anand's insight:
Barclaycard offers UK's 1st Android phone NFC payment application. Two features include: 1. transaction values raised to PS100 with use of PIN instead of standard PS30; and 2. lost and stolen card replaced with virtual card to allow continuity of NFC app usage. No news on Barclayscard joining iPhone payment ecosystem yet!
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Finextra: Visa has installed its payWave application on Russia's popular Qiwi e-wallet, putting mobile contactless payments into the hands of millions of Russian consumers.
Vineet Anand's insight:
Welcome news for Qiwi or Visa or both! I will go with both & big win towards integrating the HCE NFC payments with Qiwi Wallet. Qiwi has more than 17 million users and 100,000 kiosks across Russia. Visa payWave will get a big boost in Russia with this launch for contactless mobile payments.
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Finextra: Having finally embraced near field communication technology with the launch of its payments service, Apple has joined the NFC Forum as a sponsor member.
Vineet Anand's insight:
Apple becomes a sponsor member of NFC forum! Apple Pay has given Apple insight in the need for specifications to have interoperability across devices, providers, and services.
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Finextra: Contactless is the new normal in Europe, with more than a billion tap-and-go purchases worth EUR12.6 billion on Visa cards in the last 12 months.
Vineet Anand's insight:
131 million Visa contactless cards in Europe that generated EUR 12.6billion with more than a billion transactions. UK leading the way of issued cards and terminals. Apple Pay, Android Pay and Samsung Pay will drive greater usage via mobile and wearables!
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Finextra: Brits spent more than £600 billion on cards last year, with the number of purchases made with plastic soaring thanks in part to the rapidly growing popularity of contactless payments.
Vineet Anand's insight:
Londons public transport drives contactless adoption in 2014 - 31 million transactions. 75% of payments at retailers were using either debit or credit card across 1.1 million retail locations.
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Vineet Anand's insight:
RBC mobile payment solutions leveraging HCE!
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Following new agreements with Visa and Carta Worldwide, bank card payments via Vodafone Wallet will be enabled in European markets from the second quarter of 2015 onward.
Vineet Anand's insight:
We have seen a number of MNO driven wallet initiatives that have fallen off the tracks due to lack of traction from customers in various countries. Customers will help unlock the larger questions in NFC SIM: 1. trust and prefer a MNO driven wallet for retail transactions; or 2. Trust your current banking partner wallet to drive retail transactions, extend the existing card brand driven wallet to be used for NFC transactions??
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Finextra: Some of New Zealand's biggest banks and telcos have joined forces to launch Semble, a SIM-based NFC mobile payments service.
Vineet Anand's insight:
HCE has been proving a good degree of success giving banks to set them free from telco based SIM NFC solutions, Softcard has reflected that despite best efforts telco - network initiative has its own set of challenges. Semble does not appear any different from previous SIM NFC efforts; maybe it can work for NZ being a smaller market size compared to US and other European countries. Banks are giving up a lot of direct customer interface to SIM NFC solution, which can be avoided using HCE allowing them to focus on direct customer interaction. Products like Apple Pay and Samsung Pay will operate using their own interface; will create confusion in minds of consumer - why go with a MNO based SIM solution than rather go with a device / phone consumer prefers to purchase and use the app that connects them with the bank. It will interesting to watch customer uptake of Semble!!
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Finextra: Commonwealth Bank of Australia is working with MasterCard to use host card emulation to extend the availability of its mobile contactless payments service.
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Apple's "Spring Forward" event yesterday (March 9) provided more than just a dose of promotional jargon for its new lineup of products like the gold Macbook and
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
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The Payments ecosystem is evolving at an unprecedented pace driven by mobile, cloud computing, start-up's challenging the behemoths, and new technologies. My personal collection of curated stories and blogs.
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Contactless cash ATM's gaining mainstream adoption during the pandemic. Global demand for contactless cash withdrawals via NFC or QR is gaining ground since the pandemic started - and while digital transactions have increased, the demand for cash remains high.