Secure Transactions News
Some news from the Secure Transactions Industry are here. A lot more are in Smart Insights Weekly.
China UnionPay announced its chip card technology licensing cooperation with seven members of the Asian Payment Network (APN). Major switch networks in Singapore, Thailand, South Korea, Malaysia, Indonesia and the Philippines will adopt UnionPay chip card standard in card acceptance and issuance.
According to a survey conducted by The Strawhecker Group (TSG), 44% of US card-accepting merchants have EMV terminals. TSG also found that only 29% of US merchants are actually able to accept chip-based transactions. Not all merchants have activated EMV POS systems despite having them in place.
Google has announced multiple additions to its product lineup, including its new Pixel smartphone, its new Google Assistant, new offers for connected home and Daydream View VR headset, among others.
The suspense is over! Safran announced having received from Advent International a firm and irrevocable offer to acquire Safran's Identity and Security (I&S), previously known as Morpho, activities (cf. Smart Insights Weekly #16-39) and having entered into exclusive negotiations on this basis.
Apple Pay launched in Russia on October 4th, 2016, according to Vedomosti.
Earlier, on September 29th, 2016, Samsung Pay has also launched in Russia.
Intelling published a new Smart Insights Report “Invisible payments key to omni-channel commerce” that conducts a detailed analysis of this emerging market segment – invisible payments.
Safran is selling its biometrics and secure transactions business (cf. Smart Insights Weekly #16-27) and is expected to close the deal by the end of the month, according to a new Reuters report.
Transport for London (TfL) has announced its contactless ticketing system is set to be used by other major cities across the globe as part of a deal worth up to GBP 15 million (EUR 17.5 million). TfL signed a deal with Cubic Transportation Systems (CTS), a business unit of Cubic Corporation, allowing them to adapt the capital’s contactless ticketing system worldwide. It is the first of a number of planned agreements to sell TfL’s expertise both at home and abroad.
Japanese technology company SoftBank Group Corp. is buying Britain's ARM Holdings for EUR 28.8 billion. The bid represents a 43% premium to the ARM share price at close of trading on Friday last week and the ARM board has recommended shareholders accept it.
The recommended cash deal underlines the desire of SoftBank, which also owns struggling US telecommunications company Sprint, to expand in the "Internet of Things".
According to The Observatory for Payment Card Security’s “2015 Annual Report,” fraud losses on transactions conducted in France fell for the second year running, declining from EUR 235 million (representing a fraud rate of 0.043%) in 2014 to EUR 225 million (0.040%). And for the first time since the Observatory was established in 2001, fraud decreased in France across all three major transaction categories, namely point-of-sale (POS) payments, withdrawals and card-not-present (CNP) payments.