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Retail

MCX Partners Begin Blocking NFC Payments Including Apple Pay

October 28, 2014

NFC Payment Terminal

Following the launch of one of the most publicized contactless payment systems to date, two major retailers have turned off their NFC payment terminals. Most CVS’s and Rite Aids have been able to accept NFC based payments for a while now. Users with Google Wallet or a NFC equipped credit/debit card have been able to checkout for sometime without any issue and Apple Pay users were initially able to utilize the service. Several days after the launch of Apple Pay though, CVS and Rite Aid have blocked all NFC payments. The reasoning seems to be the companies’ participation in Merchants Customer Exchange (MCX). MCX is a consortium of merchants who are currently developing their own payment system, called Current C. Current C utilizes a QR code to make payments and requires  

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by Doug Parker
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Retail

Final: A Credit Card Aimed To Eliminate Number Theft

October 10, 2014

Final Credit Card EMVWhile Apple and Google are pushing contactless payment as the most secure method to make a credit card transaction, Final is preparing to introduce a more tangible solution. The company’s EMV (Chip and PIN) credit card creates a new number for every merchant where you use the card. For example, any time you go to a Home Depot the card uses one number but when you go to Bloomingdale’s it will use a different number. These numbers can be revoked by the user at any time and new numbers can be assigned. So if your card number is stolen from one merchant, you can easily kill just that number without messing up accounts you have with other merchants. All aspects of Final can be controlled and monitored from your smart phone including notifications of suspicious purchases. Final expects to launch a beta of the card early 2015.You can sign up for a chance to be part of the beta now on the company’s website. Head past the break for a video: 

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by Doug Parker
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Future of Mobile Payments
Retail

The Future Of Payments And Your Wallet

September 23, 2014

CardFor both in-store and online retailers, there is a race going on to redefine the future of payments and your wallet. With another major retailer, Home Depot, announcing a massive security breach that compromised up to 56 million payment cards, it is clear that the safety of traditional payment systems continues to be in question. How safe is your personal information and how will these new payment methods improve security?

Between credit and debit card transactions, $12 billion dollars changes hands everyday in the US. This represents around 200 million transitions, of which almost all card-present transactions are done through the magnetic strip. By today’s standards magnetic stripe cards are dinosaurs. Originally developed in 1969, the technology achieved mass production in 1971. Since that time very little has changed with them or about how we conduct transactions.

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by Doug Parker
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Retail

Macy’s Announces Further iBeacon Roll Out And Apple Pay

September 17, 2014

Shopkick iBeacon

Macy’s this week announced it is expanding its iBeacon partnership with Shopkick to roll out 4000 additional iBeacons to retail locations across the US. Last November, the partnership was announced along with a trial of the technology at the department store’s NYC and San Francisco flagship locations. iBeacons use Bluetooth LE to trigger micro-location specific services and actions on your phone. Once you have the Shopkick app on your phone (iOS or Android 4.3+) and enter a Macy’s, you are presented with notifications about the merchandise in the department you are entering, including sales or items you have previously “liked.” View Shopkick’s video past the break that explains how Macy’s utilizes iBeacons. In addition to expanding the roll out of iBeacons, Macy’s formally announced that it is planning to support Apple Pay and plans to release more information in October. These announcements come as Macy’s is trying to improve its shopping experience, with new apps and services such as same day online-order pickup.

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by Doug Parker
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Retail

Apple Announces Apple Pay, Includes Macy’s and Bloomingdale’s

September 9, 2014

Apple Pay iPhone 6

During Apple’s big iPhone event today, the company unveiled its version of contactless payment. The feature will roll out in October and will be exclusive to the iPhone 6 and iPhone 6 Plus. Cards are added by taking a photo of them and then Apple checks with the credit card provider to authenticate that it is yours. In order to make a payment via Apple Pay, the user does not need to load an app or turn on the phone, instead simply press the Touch ID home button and the phone will gently vibrate to acknowledge successful payment. Apple is also hoping to address security concerns related to contactless payment.

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by Doug Parker
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Retail

Nordstrom Rumored To Use New NFC Payment Technology

September 8, 2014

Near Field Communication TerminalIf the rumors are correct, tomorrow Apple will unveil NFC payments as part of the next version of the iPhone. Nordstrom has been rumored to be an early partner with Apple in regards to the payment system and to be ready to updated point-of-sale systems across their stores. With existing NFC payment systems, information is transmitted freely between the device and terminal. Apple reportedly is planning on utilizing a tokenization system it developed that allows for unique encryption of your sensitive information as it is transmitted between the device and terminal. The token changes for every transaction made. If true, this modification to NFC payments would provide significantly more security and help address fraud concerns.

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by Doug Parker
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Retail

iBeacon Gains “Made For iPhone” Specifications As Rollout Continues

February 25, 2014

Estimote Beacons

 

Today Apple introduced specifications for Bluetooth LE devices that utilize the company’s iBeacon API.  iBeacon is a proximity based communication method between mobile devices and beacons; it allows for everything from alerts about sales when you enter a store to enabling transactions.  By applying to participate in Apple’s Made For iPhone (MFi) program, developers of beacons agree that their device conforms to Apple’s standards for the broadcast of necessary Bluetooth LE signals; in return developers are granted access to use the “iBeacon” trademark with their device.  The good news, according to Beekn.net, is that there doesn’t seem to be anything out of the ordinary or proprietary about Apple’s specifications, presumably allowing Bluetooth LE Android and Windows phones and tablets to play nice.  iBeacon is currently deployed in a small number of stores and is about to launch in 20 Major League Baseball stadiums.

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by Doug Parker
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