3 big stories have hit the news in the past week:
1. Verifone join mobile chip and PIN revolution (EDIT – VERIFONE HAVE WITHDRAWN THIS PRODUCT)
If you read my last post you will know there is a mobile chip and PIN revolution taking place. Verifone, the worlds leading provider of chip and PIN machines, are the latest to release a mobile chip and PIN device. Their offering is called SAIL. Here’s what you need to know:
- Works with any iOS, Android of Windows phone or tablet
- Device connects to the phone’s audio jack. Can be clipped onto the back of the phone or connected via a cable
- Connects to the merchant account via an app and the mobile signal
- Available worldwide
2. RBS and Natwest trial mobile payments
RBS and Natwest have announced the launch of Touchpay, a contactless payments solution for the iPhone 4 and 4S. Touchpay works by attaching an NFC enabled cover to your iPhone which allows you to make payments of £20 or less at mobile contactless enabled terminals.
1000 devices are being rolled out initially with a view to general release on successful completion of the trial. RBS and Natwest customers will need an iPhone 4 or 4S, the NFC enabled cover and the free app to make payments. To make a payment the phone just needs to be waved near to the terminal and a payment is made, no PIN is required. Customers can also track payments using the Touchpay app.
3. Biometric payments trials
Payments which are verified using fingerprints rather than chip and PIN are currently being trialled in France. The technology works using NFC and a biometric verification system. To make a payment the customer needs to be in possession of their bank card however, they don’t need to remove it from their pocket as verification is made via their fingerprint. The tech is currently being trialled for 6 months at 2 locations in France and plans are already in place for US trials.
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