Tino Herold’s Post

🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: Bizum is launching its NFC payment system, to compete with Apple Pay and Google Pay. It will be called 𝗕𝗶𝘇𝘂𝗺 𝗣𝗮𝘆. You can send money instantly to a contact using Bizum without fees. Bizum can also be used for payments in stores, functioning like a debit card. Even Amazon recently adopted it. By 2025, you will also be able to use Bizum just like we currently use Apple Pay or Google Wallet. Most Spanish banks are part of this platform, which has announced the development of a contactless mobile payment system set to arrive on smartphones in 2025. This will be called 𝗕𝗶𝘇𝘂𝗺 𝗣𝗮𝘆 and will use NFC technology in phones to handle transactions via existing payment terminals, linking the payments directly to Bizum accounts. According to the company, Bizum Pay will not only allow users to utilize their Bizum accounts but will also support cards from other banks that are part of the platform. When making a payment, users can choose which account or card the money will come from. Source (Spanish): https://lnkd.in/dvKi27Dr Are we going to see NFC P2P payments similar to Apple Tap To Cash (see example below👇) in Spain in 2025 as well? Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]

🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: Bizum is launching its NFC payment system, to compete with Apple Pay and Google Pay. It will be called 𝗕𝗶𝘇𝘂𝗺 𝗣𝗮𝘆. You can send money instantly to a contact using Bizum without fees. Bizum can also be used for payments in stores, functioning like a debit card. Even Amazon recently adopted it. By 2025, you will also be able to use Bizum just like we currently use Apple Pay or Google Wallet. Most Spanish banks are part of this platform, which has announced the development of a contactless mobile payment system set to arrive on smartphones in 2025. This will be called 𝗕𝗶𝘇𝘂𝗺 𝗣𝗮𝘆 and will use NFC technology in phones to handle transactions via existing payment terminals, linking the payments directly to Bizum accounts. According to the company, Bizum Pay will not only allow users to utilize their Bizum accounts but will also support cards from other banks that are part of the platform. When making a payment, users can choose which account or card the money will come from. Source (Spanish): https://lnkd.in/dvKi27Dr Are we going to see NFC P2P payments similar to Apple Tap To Cash (see example below👇) in Spain in 2025 as well? Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] …more

🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: Bizum is launching its NFC payment system, to compete with Apple Pay and Google Pay. It will be called 𝗕𝗶𝘇𝘂𝗺 𝗣𝗮𝘆. You can send money instantly to a contact using Bizum without fees. Bizum can also be used for payments in stores, functioning like a debit card. Even Amazon recently adopted it. By 2025, you will also be able to use Bizum just like we currently use Apple Pay or Google Wallet. Most Spanish banks are part of this platform, which has announced the development of a contactless mobile payment system set to arrive on smartphones in 2025. This will be called 𝗕𝗶𝘇𝘂𝗺 𝗣𝗮𝘆 and will use NFC technology in phones to handle transactions via existing payment terminals, linking the payments directly to Bizum accounts. According to the company, Bizum Pay will not only allow users to utilize their Bizum accounts but will also support cards from other banks that are part of the platform. When making a payment, users can choose which account or card the money will come from. Source (Spanish): https://lnkd.in/dvKi27Dr Are we going to see NFC P2P payments similar to Apple Tap To Cash (see example below👇) in Spain in 2025 as well? Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] Credits to: Marcel van Oost

🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: Bizum is launching its NFC payment system, to compete with Apple Pay and Google Pay. It will be called 𝗕𝗶𝘇𝘂𝗺 𝗣𝗮𝘆. You can send money instantly to a contact using Bizum without fees. Bizum can also be used for payments in stores, functioning like a debit card. Even Amazon recently adopted it. By 2025, you will also be able to use Bizum just like we currently use Apple Pay or Google Wallet. Most Spanish banks are part of this platform, which has announced the development of a contactless mobile payment system set to arrive on smartphones in 2025. This will be called 𝗕𝗶𝘇𝘂𝗺 𝗣𝗮𝘆 and will use NFC technology in phones to handle transactions via existing payment terminals, linking the payments directly to Bizum accounts. According to the company, Bizum Pay will not only allow users to utilize their Bizum accounts but will also support cards from other banks that are part of the platform. When making a payment, users can choose which account or card the money will come from. Source (Spanish): https://lnkd.in/dvKi27Dr Are we going to see NFC P2P payments similar to Apple Tap To Cash (see example below👇) in Spain in 2025 as well? Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]

🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: Bizum is launching its NFC payment system, to compete with Apple Pay and Google Pay. It will be called 𝗕𝗶𝘇𝘂𝗺 𝗣𝗮𝘆. You can send money instantly to a contact using Bizum without fees. Bizum can also be used for payments in stores, functioning like a debit card. Even Amazon recently adopted it. By 2025, you will also be able to use Bizum just like we currently use Apple Pay or Google Wallet. Most Spanish banks are part of this platform, which has announced the development of a contactless mobile payment system set to arrive on smartphones in 2025. This will be called 𝗕𝗶𝘇𝘂𝗺 𝗣𝗮𝘆 and will use NFC technology in phones to handle transactions via existing payment terminals, linking the payments directly to Bizum accounts. According to the company, Bizum Pay will not only allow users to utilize their Bizum accounts but will also support cards from other banks that are part of the platform. When making a payment, users can choose which account or card the money will come from. Source (Spanish): https://lnkd.in/dvKi27Dr Are we going to see NFC P2P payments similar to Apple Tap To Cash (see example below👇) in Spain in 2025 as well? Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] …more

Curve Pay is coming to #iOS in the EU to compete with #ApplePay. It offers a lot of attractive features, such as a way for card issuers to bypass the 15 bps fee that Apple charges per transaction, as well as the ability to use funding sources that would otherwise not be accepted by a particular merchant. This is a major concession by Apple; however, as Eric Grover and I point out, Apple has a way of making life difficult for competitors despite such concessions and may be able to duplicate some of this functionality in ApplePay, which already has a way to pick alternative funding sources and is adding #BNPL. Still, it's great to see more competition in #digitalwallets coming to iOS. #mobilewallets

#apple & #payments IMPORTANT Apple has staved off massive European Commission fines by agreeing to open up the NFC chip technology that enables iPhone users to make contactless payments to third-party providers. The EC says it has made the commitments offered by Apple legally binding under EU antitrust rules, resolving an antitrust case and avoiding a fine that could run into the billions of dollars. The 10-year commitment is largely based on an offer made by Apple in January which sees the US tech giant allow third-party mobile wallet and payment service providers to access and interoperate the NFC functionality on iOS devices through a set of APIs free of charge, without having to use Apple Pay or Apple Wallet. Apple will create the necessary APIs to allow equivalent access to the NFC components in the Host Card Emulation (HCE) mode, a technology issued to securely store payment credentials and complete transactions, without relying on an in-device secure element. The agreement covers all third-party mobile wallet app developers established in the European Economic Area and all iOS users with an Apple ID registered in the EEA. In addition, Apple will not prevent the use of these apps for payments in stores outside of the EEA. Apple also promising to allow the defaulting of preferred payment apps, access to authentication features such as FaceID, and a suppression mechanism. The tweaks extend the possibility to initiate payments with HCE payment apps at other industry-certified terminals, such as merchant phones or devices used as terminal. They also remove the requirement for developers to have a licence as a PSP or a binding agreement with a PSP to access the NFC input. In addition, Apple will allow NFC access for developers to pre-build payment apps for third party mobile wallet providers. https://lnkd.in/eaEUDq9X

Apple Settles EU Case By Opening Its iPhone Payment System To Rivals: The European Commission has approved Apple's commitments to open its "tap to pay" iPhone payment system to rivals, avoiding a potentially hefty fine. The Guardian reports: Regulators had accused Apple in 2022 of abusing its dominant position by limiting access to its mobile payment technology. Apple responded by proposing in January to allow third-party mobile wallet and payment service providers access to the contactless payment function in its iOS operating system. After Apple tweaked its proposals following testing and feedback, the commission said those "final commitments" would address its competition concerns. "Today's commitments end our Apple Pay investigation," Margrethe Vestager, the commission's executive vice-president for competition policy, told a press briefing in Brussels. "The commitments bring important changes to how Apple operates in Europe to the benefit of competitors and customers." Apple said in a prepared statement that it is "providing developers in the European Economic Area with an option to enable NFC [near-field communication] contactless payments and contactless transactions" for uses like car keys, corporate badges, hotel keys and concert tickets. [...] Apple must open up its payment system in the EU's 27 countries plus Iceland, Norway and Liechtenstein by July 25. "As of this date, developers will be able to offer a mobile wallet on the iPhone with the same 'tap-and-go' experience that so far has been reserved for Apple Pay," Vestager said. The changes will remain in force for a decade and will be monitored by a trustee. Breaches of EU competition law can draw fines worth up to 10% of a company's annual global revenue, which in Apple's case could have amounted to tens of billions of euros. Read more of this story at Slashdot.

Finally: Apple iOS opened up #NFC channel to third parties! I remember since mid 2010s, we've had designed several NFC-based use cases and products in #Banking #Payment and #Authentication sectors, that were all limited by #iOS NFC exclusivity with #ApplePay. Given considerable smart devices and users' TAM on Apple/iPhone, that barrier led tech-providers (including my team and colleagues at the time) to collectively escalate to EU and finally after so many years of legislative efforts, the channel is now open this year to foster a democratic non-monopolistic competition and innovation. I hope that this extends to other channels, brands, and markets such as North America as well. This is the first major milestone! My personal takeaway is that we sometimes need to be more patient with technological trajectory and adaptation, and despite delays, to work hard toward what makes perfect sense and be proactive. #Digitization and #mobilepayments are yet other examples.

In Cyprus, the strong tourism sector favors internationally recognized cards like Visa and Mastercard. Growing smartphone use and a young demographic are contributing to the rise of mobile wallets. Cards: Visa and Mastercard lead, covering about 60% of online and point-of-sale transactions. Cash: Still commonly used, particularly for smaller transactions, with around 30% market share in everyday transactions. E-wallets: Mobile and digital wallets like Apple Pay are growing and hold about 10% of the market, driven by increasing smartphone adoption and the convenience of contactless payments.