Fintech, Finance, Technology, Banking Highlights – 23 October 2017
Precise Biometrics announces new powerful solution for biometric payment cards
In the run up to Money 20/20 in Las Vegas, Precise Biometrics announces a powerful and efficient upgrade of its market-leading fingerprint solution for smart cards that will lower total product costs, supporting the growth of biometric payment cards.
The upgrade of Precise Biometrics’ industry-leading fingerprint solution, Precise BioMatch Embedded, supports even smaller fingerprint sensors with an area down to 30 mm2 and constrained MCU’s that enable power efficient biometric smart cards, while meeting the biometric performance requirements set by the payment card industry. By enabling the use of smaller sensors, the total product costs can be decreased. The software solution will be available for customers in December 2017.
“Consumers are eager to start using biometric payment cards as seen from the first market trials earlier this year. Our enhanced fingerprint solution will accelerate the introduction of biometric smart cards by lowering total product costs and maintaining high biometric performance,” said Hakan Persson, CEO of Precise Biometrics.
Alipay makes inroads into US with JPMorgan Chase deal
Alipay, the world’s leading third-party payment platform, today announced they are working with JPMorgan Chase, a global financial leader, toward a relationship by which Chinese consumers traveling in North America would be enabled to pay using their Alipay Mobile Wallet at Chase merchant clients.
Alipay is China’s leading online payment provider and the primary means of online and mobile payments for Chinese consumers. With four million Chinese consumers predicted to visit North America this year alone, the proposed relationship would expand the places where Chinese shoppers can use their Alipay Mobile Wallet at the register.
“We are always looking for ways to deliver more value to our merchants and bring them closer to their customers,” said Pablo Simone, head of product and strategy for Chase Merchant Services. “A relationship with Alipay would create opportunities that enable Chinese tourists to transact in a way they are familiar with.”
Citibank Extends Quick Lock Convenience to Debit Cards
Citibank has made it more convenient to protect your bank account by extending the popular Citi Quick Lock feature to debit cards, making it possible for both banking customers and credit cardmembers to quickly and easily lock their cards online or via its mobile app if a card is misplaced.
The functionality, first made available to credit cardmembers last year, provides peace of mind, helping ensure that no unauthorized transactions are made while a debit card or credit card is misplaced. When locked, new transactions are blocked while previously approved recurring payments continue without disruption. Customers can easily unlock their accounts just as quickly whenever they want.
“Citi is constantly looking for ways to make banking more convenient by connecting with our customers when and how they want to be served, especially with respect to security and protection,” said Elyse Lesley, Head of Digital, Client Experience, Marketing & Analytics, U.S. Retail Bank and Mortgage. “Since our customers are increasingly active on mobile or online, we’re giving them another tool to directly control their account activity across the bank.”
Fintech Parcela Já & Banco BNI Europa Partner on Installment Loans
Banco BNI Europa and Parcela Já, Portuguese Fintech, have entered into a partnership to launch an innovative solution for the Portuguese market, which aims to enable any retailer to offer its customers the instalment of any purchase without costs to the consumer.
This product is open to all consumers with a credit card. To benefit from this service, the final customer will only have to make the purchase with his usual credit card, deciding at the terminal, at the time of purchase, the instalment he intends to make, between 2 and 12.
According to Pedro Pinto Coelho, Banco BNI Europa’s CEO: “This service will allow the merchant to boost their sales significantly and the consumer to increase their purchasing power. The solution will be available to all merchants that join the service, and the customer only have a credit card. In this service Banco BNI Europa anticipates the value of the sale to the shopkeeper and Parcela Já will manage the instalments. “
