This week’s global payments report hits Australia, Asia, U.K., Hong Kong and China.
National Australia Bank Pushing Android NFC Payments
The National Australia Bank (NAB) has updated its mobile banking app to enable Visa Debit account holders to make tap-and-go payments, reports ZDNet.
“The technology is currently limited to those with a near-field communication (NFC)-enabled Android smartphone that is running KitKat 4.4 and above,” the story said. “As this is the first release of NAB Pay, the bank said future updates will make the facility available to other card types.”
Asian Shoppers Driving Global Stat: 34 Percent Online Transactions Now Mobile
Asian markets took an outsized amount of influence on the global stats, reported Finextra.
“The increase is driven particularly by major Asian-based payment methods including JCB, UnionPay, and Alipay. JCB recorded the highest share of mobile payments across all the payment methods analyzed, with 54 percent of payments on the Adyen platform made on a mobile device, up from 47 percent last quarter,” the story said. “Alipay increased to 44 percent (up from 35 percent), and UnionPay to 31 percent (from 23 percent).”
U.K. Banks Change Rules For Reimbursing Errored Online Payments
The circumstances are limited, but in cases where there is no dispute, the funds now have to be replaced within 20 working days, reports Finextra.
“When you notify your bank or building society that you have made an electronic payment to the wrong account, your bank will commence action on your behalf within a maximum of two working days,” the story said. “Where your bank finds clear evidence of a genuine mistake, they will contact the receiving bank on your behalf with a request to prevent the money being mistakenly spent. As long as the recipient does not dispute your claim, you will subsequently receive a refund of the protected funds within 20 working days from when you notified your bank.”
Hong Kong’s Joint Electronic Teller Services Limited Launches P2P Service
JETCO worked with 12 Hong Kong banks that will allow customers to transfer funds solely with the recipient’s mobile number, noted CIOAsia.
“No top-ups will be required as the service is directly linked to the consumer’s bank account. In terms of security, the service features bank grade security measures such as end-to-end encryption and a dynamic pin pad to offer a high standard of protection to users,” the story said. “Participating banks include Bank of China (Hong Kong), Bank of Communications, the Bank of East Asia, China CITIC Bank International, China Construction Bank (Asia), Citibank, Dah Sing Bank, DBS Bank, OCBC Wing Hang Bank, Shanghai Commercial Bank, Standard Chartered Bank, and Wing Lung Bank.”
China Merchants Bank Partners For Mobile Payments
China Merchants Bank Co Ltd is partnering transport firm Didi Kuaid in a substantial mobile payment play, reports China Daily.
“The two have inked a comprehensive partnership, which includes a strategic investment bythe former in the latter. Under the partnership, CMB will become the first bricks-and-mortarbank that can offer in-app credit card payments to Didi users,” the story said. “At present, users of Didi can only choose third-party payment solutions like WeChat Payment and Alipay to pay cab fares.”