Secure Transactions News
Some news from the Secure Transactions Industry are here. A lot more are in Smart Insights Weekly.
The Chinese government has opened market access to credit card firms such as Visa and Mastercard and others. While this may be a be a victory for the entering companies, investors have seen this play out before only to find many restrictions for the US card networks present in the country, according to Dow Jones Newswire.
According to David Jones, a writer of the paypers.com, once PSD2 (revised payment directive) is implemented into national law by member states by January 13th 2018, European banks will be required to open up and provide third party providers (TPPs) access to customer accounts. What this means for online security is that under PSD2, consumers will be able to visit third-party sites and allow them to view and act on their bank accounts.
As there’s been a lot of hype around the embedded SIM (eSIM), IHS Markit, an information and analytics expertise, doesn’t see the incorporation of eSIMs into cellular handsets coming anytime soon from Tier 1 suppliers like Apple, Samsung and Huawei until 2019. Rather, eSIM incorporation is likely to happen first with Tier 2 and 3 handset suppliers as part of small-scale introductions to test the market.
Gemalto's embedded Secure Element (eSE) - a smart chip with a secure OS and applications - will soon be integrated into the recently launched Samsung Galaxy S8 in selected markets, says Finextra. It has been embedded in other Samsung smartphones including the Galaxy A series globally and the Galaxy C series in China. This solution supports Samsung Pay including transit and ticketing in selected markets.
Gemalto's embedded Secure Element (eSE), a smart chip with a secure OS and applications, will soon be integrated into the recently launched Samsung Galaxy S8 in selected markets. It has been embedded in other Samsung smartphones including the Galaxy A series globally and the Galaxy C series in China.
New South Wales (NSW) police have charged three men with compromising 45 bank accounts through the card emulation function used for mobile payments to make AUD 1.5 million (EUR 1 million) in fraudulent purchases across Sydney, according to PaymentsSource.
Gemalto announced its Q1/2017 results
Singapore’s M1 is to be acquired by China Mobile or global equity firms, whereby according to Reuters, the competing firms are among the companies being considered by Singapore-based operator M1’s top shareholders as potential buyers of their stake. Combined, the 61% stake is worth SGD 1.14 billion (EUR 746 million) based on M1’s market value of more than SGD1.91 billion (EUR 1.25 billion).
The European Commission has cleared the proposed acquisition of France-based Morpho by Advent International of the US (cf. Smart Insights Weekly #16-40). The approval is conditional on the divestiture of Morpho’s payment smart card business in France.
The US Department of Customs and Border Protection (CBP) anticipates numerous changes, as it is using advanced technology, such as biometrics, to confirm identity, further facilitate and secure travel, and meet the demands of increased travel to the United States.