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Uber will pay drivers and couriers after every trip
Uber is making a bigger push into payments and financial services by setting up a division called Uber Money. Among the initiatives Uber has in store is paying its more than 4 million drivers and couriers after each ride. It plans to do so through its no-fee mobile bank account, which it's integrating into the Uber Driver app.
Amazon reportedly wants its digital wallet in brick-and-mortar stores
Amazon wants its Amazon Pay digital wallet to be accepted in brick-and-mortar stores, and it's offering merchants incentives in order to make that happen, the Wall Street Journal reports. According to sources familiar with the matter, the company is currently focusing on gas stations, restaurants and other merchants that wouldn't see Amazon as a business rival, offering them lower payment-processing fees and marketing services to get them on board. If successful, Amazon would be able to expand its Pay service beyond online transactions, which it's primarily used for now.
Code mistake freezes up to $280 million in digital currency
Imagine if one person's code error deprived you of a pile of money, and there was no guarantee you'd get your funds back. Wouldn't you be hopping mad? That's how many cryptocurrency owners are feeling right now. The digital wallet company Parity is warning users that a large volume of Ethereum funds have effectively been frozen after code contributor devops199 claims to have accidentally deleted the library needed to use multi-signature wallets (those that require more than one signature to move funds) created after July 20th. Devops triggered a long-unpatched bug that turned Parity's wallet contract into a standard multi-signature wallet, making every wallet "suicide" and erase the guiding library code.
Clever SIM sticker makes no-signal mobile payments possible
Mobile wallets aren't just for getting in and out of Starbucks that bit quicker. In several parts of the world, many people rely solely on mobile wallets for all their financial needs. These are particularly prevalent in Kenya, for example, where 58 percent of adults manage their money with mobiles. And we're not talking about smartphone apps and contactless payments here, but simpler systems like M-Pesa that work on feature phones and verify transactions via SMS messages. These are entirely reliant on the presence and performance of mobile networks, though, which a project called DigiTally is trying to address with a SIM sticker that lets users make and receive payments when there's no network connection whatsoever.
Delaware wants to put your driver's license on your phone
For all the recent talk of moving to digital wallets, you can't really ditch the old-school kind yet -- you still need to carry physical copies of your driver's license and other forms of ID. If you live in Delaware, though, you may eventually have one less reason to worry when you leave your purse or wallet at home. The state's Senate recently passed a resolution asking the Division of Motor Vehicles to research a digital driver's license that you would store in an app on your phone. While many of the details still have to be worked out, you'd use some kind of biometric security (such as your face, fingerprint or voice) to get access on top of a code. There's no timetable for when Delaware would test these licenses, but it may not take long given that the state's development partner, MorphoTrust, has been working on the technology for a while.
Starbucks wants you to use its app for payments in other stores
Starbucks' mobile apps could soon let you buy much more than your next grande latte. The coffee shop's digital lead, Adam Brotman, tells Recode that the coffee shop giant is talking to companies about using its app for payments and loyalty programs in other stores. He's not naming any would-be allies, but the strategy would turn a fairly ordinary restaurant app into more of a universal digital wallet that just happens to focus on drinks. And even if that doesn't pan out, Starbucks is still committed to expanding the role of its software -- it's determined to offer coffee pre-orders across the US, regardless how long it takes to make the feature work.
China UnionPay and Intel join forces for secure mobile payment
At IDF's second-day keynote in Beijing today, Intel announced its collaboration with bank card giant China UnionPay for secure mobile payment, with the latter utilizing Intel's Identity Protection Technology and also its distribution of the Hadoop software framework for datacenters. With UnionPay being China's top bank card organization boasting a total of 3.5 billion cards to date, this is obviously a big deal for Intel both locally and around the world -- at least in the 141 countries and regions where UnionPay is accepted, according to Executive Vice President Chai Hongfeng. Chai also used his stage time to show off UnionPay Quick Pass, China's very own NFC payment service with over 1.1 million local POS terminals as of December 2012. The exec used none other than Intel's developer device to buy its Corporate Vice President Doug Fisher a can of "Mountain Doug" (we would've preferred "Chai Tea" instead), but of course, HTC beat Intel to it with the joint launch of mobile Quick Pass back in August 2011. Anyhow, there's a press release after the break.
Visa's V.me digital wallet service graduates from beta with 53 banks, 23 retailers on board
After roughly a year since its unveiling, Visa's digital payment platform V.me has emerged from beta with support from a total of 53 banks, including PNC and U.S. Bank, and 23 retailers. If V.me has escaped your memory thanks to the proliferation of electronic payment options, you'd be forgiven. For those in need of a refresher, the service lets users check out at participating online stores using a one-click solution that remembers credit card details from multiple providers (American Express, Discover, MasterCard and Visa) in addition to billing and mailing addresses. Visa's Global Head of eCommerce, Jennifer Schulz, told TechCrunch that the firm is planning on making mobile apps and bringing the service to checkout terminals next year. How does the company plan on standing out from the sea of options? Visa's banking on its brand-name and ability to spread the service far and wide. If V.me has piqued your interest, leap past the break to catch the full list of supported banks and retailers. [Image credit: Philip Taylor, Flickr]
iCache Geode digital wallet hands-on (video)
The iCache Geode was easily the most impressive use of technology that we saw during CTIA 2012. It's the epitome of how a fantastic tech idea can be translated to real-world use in a very classy and clever way. At its heart it is extremely simple: take all your existing credit, debit and loyalty cards, save them in a secure way and be able to use any of them without actually having the original cards handy. The system is comprised of a housing for the iPhone coupled with an app, an E Ink display on the rear, a fingerprint scanner, the GeoCard, and a magnetic stripe reader that is capable of quickly reading in your card details and saving them. Using the Geode is a two-step process -- scan all your cards into the device with an included scanner attachment, then using the iPhone app select your method of payment and the GeoCard in the housing is instantly programmed. Pop the card out, tap it on a solid surface to activate it and spend your money. Loyalty cards are equally easy to use: select one of them in the app and its barcode is written to the E Ink display on the Geode's rear surface. Of course iCache has considered the security implications and has addressed them in a few different ways. The iPhone doesn't store any of your card details as they're kept in the housing itself. On launch the app does a hardware check to be sure nothing's been tampered with, asks for a fingerprint scan and the card programming only lasts for a user-defined period of time after you've tapped it on the table. Click on through for a video demo of the whole ride.
MasterCard introduces PayPass Wallet Services, Online and API at CTIA 2012
MasterCard's PayPass is certainly one of the bigger players in the contactless payment scene. But, simply putting a few thousand branded payment terminals in stores across the nation isn't enough. The next step is expanding that empire, not only in terms of locations and handsets, but by turning the phone into just an accessory in a larger ecosystem. PayPass Wallet Services is a new umbrella product that includes an online payment system, a branded service and an API that allows developers to integrate PayPass into their own proprietary offerings. Simply put, PayPass is no longer a product, but a platform. The service remembers not only credit cards, but shipping addresses and other identifying info that streamlines the shopping process, while the API means that others can build value added offerings around PayPass. There's even a dedicated Android app. The company is hoping to have the system ready for a broad roll out by the third quarter of the year. When that time comes, a pile of partners have pledged to support it in various ways. The names on that list should ring at least a few bells: Intel, Barnes & Noble, Newegg, MLB and American Airlines. It all seems pretty impressive (though, we'll reserve judgement till we get to try it out). Your move, Google. Zachary Lutz contributed to this report
PayPal's Digital Wallet lets you decide how you empty yours (video)
PayPal has been helping us pay for those impulse purchases for a long time, but now its forthcoming Digital Wallet could see it popping up on our bank statements a whole lot more. Speaking with eBay Ink, PayPal's Sam Shrauger gave a quick demo of some of the new features. As well as the regular payment handling, you'll be able to register gift vouchers, coupons, loyalty points and store credit cards all under one account. This sounds tidy, but more interesting is the ability to change how you pay for something (say, from credit to debit card) up to seven days after the fact. If you want to keep those big purchases on the Amex, that's no problem either, with configurable rules letting you assign different cards to different spending situations, including setting your own custom payment plans. It's not all about buying either, with savings also getting the digital treatment, that's if you haven't doled it all out on gadget rarities. The service is expected to land in May, in the meantime see the new features via the videos after the break.
Visa aims at developing countries with new international prepaid mobile payment service
Shortly after announcing its new digital wallet service V.me for developed markets, Visa also made a presence at Mobile Asia Congress in Hong Kong to promote its new prepaid mobile money platform aimed at the under-banked and the unbanked consumers. By utilizing its recently-acquired Fundamo (which currently has more than 10 million mobile payment subscribers), Visa aims to leverage on the vast number of mobile phone users in developing countries -- many of whom are already using local but carrier-bound mobile payment systems -- in order to offer a globally interoperable mobile payment network. This overlaying platform is said to be more secure, much cheaper and more convenient than the likes of Western Union, especially when you can simply make mobile-to-mobile payments when sending money across countries. Nigeria and Uganda will be the first nations to get a taste of this early next year courtesy of telecommunications provider MTN Group, and eventually more developing countries in Africa, Asia and Latin America will join the list. Full press release after the break. %Gallery-139688%
Visa dubs upcoming digital wallet service 'V.me,' looks to differentiate product line
You may be using a Visa digital wallet next year, even if the brand name says otherwise (my Visa account was hacked twice in the past 18 months to procure vast amounts of premium shampoo and Xbox Live account add-ons, so maybe it's a good thing). Recently, the company announced that it will be using the name V.me to distinguish its upcoming digital wallet from its other services. The service, which is expected to launch in early 2012 following a private beta period, will allow customers to fund the account via their Visa card, a MasterCard account or their bank account. Taking a lead from competitors such as PayPal, Amazon.com and American Express, customers will be able to log in through a user name and password as opposed to keying in their 16-digit account number each time. A PayPal-esque send and receive money feature is also in the works, allowing for users to shoot money to each other on the fly. The company has also stated that it will be developing mobile-friendly applications for shopping from a smartphone or a tablet, the apps eventually allowing people to pay using near-field technology. And if someone can buy $500 worth of premium shampoo on an innocent man's card just by pointing their smartphone on it, that's technology in action.
Visa gets Bank of America on board for mobile payments trial, starting in New York next month
It didn't take long for Visa to react to the three-headed beast of AT&T, T-Mobile and Verizon entering the mobile payments arena. The world's foremost payment processing company has just announced that it's about to start a trial of its contactless payment system in partnership with Bank of America. Kicking off in the New York area this September and lasting through the end of the year, the scheme will most likely involve the MicroSD NFC communicator and In2Pay iPhone case that DeviceFidelity has been developing for Visa. No disclosures are being made on the size of this pilot scheme, though we're told that only a "select" group of employees and customers will be getting the mobile payment chips. Don't worry if you miss out on this one, though, as a similar trial is scheduled to begin in October with US Bancorp. That should give you enough time to turn yourself into a high-rolling select customer, right?
Japan to push its whiz-bang handsets overseas
With Japanese handset sales declining pretty much across the board (thanks, lower subsidies!), it follows logic that the government and Japanese-based handset makers would look internationally to pick up the slack. In a rather vague report, we're told that the nation is hoping to push its technologically advanced mobiles in other countries, though it'll have a tough time marketing mobile TV without sufficient infrastructure. One of the token handsets chosen to lead the parade is a Sony-made "wallet phone," which is only described as having cashless technology built in. Color us (very) mildly enthused.
