This week’s global payments news takes us to the Netherlands, France, India and Brazil.
MasterCard’s Selfie—And Other Biometric—Authentication—Trials Do Well With The Dutch
As MasterCard promises to continue and extend its selfie biometric authentications trials in various countries, it found impressively positive results in one region. Dutch participants, given the option of either a fingerprint or a selfie in lieu of a password during a six-month trial, decidedly went bio.
“Nine out of 10 participants indicate that they would like to replace their password with biometric identification definitively. Almost 75 percent of users are convinced that biometric payments will decrease fraud,” said a MasterCard statement.
MasterCard has promised to now launch biometrics “in the U.S., Canada and parts of Europe in the summer of 2016.”
Visa Checkout Launching Across Europe and India
Visa is rolling out Visa Checkout to France, India, Ireland, Poland, Spain and the United Kingdom later this year, the card brand announced.
“The incredible growth in connected commerce makes this the perfect time to bring Visa Checkout to the hundreds of millions of connected consumers using mobile devices across Europe and India today,” said Sam Shrauger, senior vice president of digital solutions, Visa Inc. “Following the successful launch and growth of Visa Checkout in many countries last year – including Brazil, China, Mexico, New Zealand and Singapore — we’re continuing our momentum in 2016, with the long term vision of making it easier for consumers to use their Visa cards on any device, anywhere in the world.”
Paytm Close To Awarding Rs 125 Crore Outsourcing Deals For Payment Bank
Paytm is close to finalising technology outsourcing contracts worth Rs 125 crore to manage the back-end for its payments bank which the company expects to roll out in August, according to a report in The India Times.
“IT firms including Infosys, Wipro, TCS, Oracle and HP have bid for the contracts which are likely to be allotted in the next one week,” the story said. “The deal will mainly cover core banking, fraud detection and security.”
Wirecard Buys Brazilian Online Payments Firm For 23.5 Million Euros
German payment services payment provider Wirecard said on Monday (Feb. 22) that it had purchased smaller Brazilian peer Moip Pagamentos SA from venture capital fund Ideiasnet SA and management for 23.5 million euros ($26 million) in cash, according to a report from Reuters.
“As part of the deal, Wirecard may owe further earnout payments totaling up to 13.5 million euros, based on Moip reaching certain financial results in 2016, 2017 and 2018 fiscal,” the story said.
Dream Payments Launches Mobile Merchant Services Platform for Banks and Merchant Acquirers
Dream Payments, a Toronto based fintech solution provider and payment cloud operator, announced ON Tuesday (Feb. 23) the launch of the Dream Mobile Merchant Services Platform. The platform enables banks and merchant acquirers to provide businesses of all sizes with an entire suite of mobile merchant services, including mobile point of sale applications, payment terminals, merchant onboarding, secure payment processing, and business analytics.
“Banks and acquirers now have the ability to rapidly deliver mobile merchant services to business customers,” said Brent Ho-Young, CEO of Dream Payments, in a statement the company issued. “With Dream, banks and acquirers can finally attract and provide mobile payment services to businesses through a cloud-based, cost effective, and flexible platform.”