Bank of America and FitPay extend contactless payment capabilities
Bank of America and FitPay, Inc., a wholly-owned subsidiary of NXT-ID, Inc. announced an agreement to extend contactless payment capabilities to a range of new devices, giving Bank of America customers more payment options and accelerating the adoption of new payment devices.
This collaborative effort enables Bank of America customers to use their credit or debit cards to make secure contactless payments directly from devices that are integrated with the FitPay[TM] payment platform at NFC-enabled point-of-sale locations and more than 9,000 Bank of America ATMs.
“As digital payments evolve, our goal is to give Bank of America customers access to payment options that are easy to use and highly secure,” said Mark Monaco, Head of Enterprise Payments at Bank of America. “Working with FitPay will allow our customers to use a range of new contactless payment devices to improve the payment experience, provide a high level of security, and fit seamlessly into any lifestyle.”
B2BPay, winner of BBVA Open Talent Global Fintech for Companies Competition
BBVA has named B2BPay as the winner of its Open Talent Global Fintech for Companies competition. From hundreds of entries into this specific segment, the team of judges selected B2BPay as their champion because of the way their solution enables SME businesses to grow internationally and trade with greater ease.
B2BPay, which is based in Finland, describes their product as a “B2C product – virtual bank accounts for companies that export into Europe. We provide SMEs that export to Europe with Virtual bank accounts.”
Their solution gives companies, once the required due diligence checks have been cleared, a virtual IBAN number for a virtual bank account. That bank account can then be used to receive payments from other companies across the EU with the funds then transferred to the company’s local bank account.
ANZ Bank rolls out Voice ID for mobile payments
ANZ will be the first Australian bank to roll out Voice ID technology on mobile banking enabling customers to complete higher value transactions conveniently and securely.
With Voice ID, ANZ customers can now make ‘Pay Anyone’ payments of more than $1000 on their mobile without needing to log into internet banking, or remember additional passwords or PINs, or visit a branch. They can also use Voice ID to make BPAY payments of more than $10,000 on their mobile.
Commenting on the announcement, Managing Director Customer Experience and Digital Channels, Peter Dalton said: “This is a significant security update that will make it easier for our customers to complete high value transactions on their smartphones.
“Customers increasingly want the convenience of banking on their digital devices and this solution delivers that with the added level of voice biometric security.
MoneyGram MobilePass Significantly Expands to 35,000+ U.S. Locations
MoneyGram announces the significant expansion of its award-winning MoneyGram MobilePass service to thousands of U.S. agent locations.
In addition to the company’s other digital solutions, including kiosks, moneygram.com, and send to account, MoneyGram MobilePass provides customers with another choice to make sending money easier.
MoneyGram MobilePass was initially launched as a pilot program inside more than 3,000 U.S. agent locations in 2016. The product allows customers to initiate a transaction on their mobile device or online and complete the transaction at any one of MoneyGram’s agent locations in the U.S.
“We are excited to extend our MoneyGram MobilePass service to our entire MoneyGram network in the U.S. which gives our customers convenience and flexibility to send money however they choose and whenever they want – it’s truly MoneyGram their way,” said Pete Ohser, MoneyGram’s head of revenue for the Americas and Europe. “Innovation is at the core of our business and the ability to fuse digital solutions with a strong physical network of agent locations around the world sets MoneyGram apart from our competitors. MoneyGram MobilePass is another example of our commitment to connecting friends and family around the world in any way that is convenient for them.”
