The regulation will drastically impact the financial eco-system and infrastructure for banks, fintechs and businesses using payments data. The revised Payment Services Directive PSD2 aims to better align payment regulation with the current state of the market and technology, and introduces security requirements for the initiation and processing of electronic payments, as well as for the protection of consumers' financial data. It also recognizes and regulates Third-Party Providers TPPs that are allowed to access or aggregate accounts and initiate payment services. This will shake up the payments market, particularly in the ecommerce space, by encouraging greater competition, transparency and innovation in payment services.
Since they were introduced a decade ago, contactless card popularity has grown to the point where they account for around a third of all card purchases — up from one in 10 in While this growth is impressive, it is hardly surprising.
Initially, the rollout of contactless cards was met with a lukewarm reception, marred by fears around data privacy and the risks associated with cards being stolen. Transport for London became the poster child of contactless — from Oyster cards to contactless payment cards and, more recently, NFC.
The challenge subsequently was how to grow the popularity of contactless nationwide — something that continues to this day to a much lesser extent.
There were also difficulties on the merchant side — upgrading POS terminals, installing software, producing new signage and pushing contactless consumes a great deal of time and resources, particularly in the adoption of an as-yet-unproven technology.
However, the growth of contactless cards has still been undeniably rapid thanks to their overruling convenience. Research from ClearScore suggests that contactless cards make consumers spend more money in-store which, coupled with the availability and variety of smaller and cheaper contactless POS terminals, makes this payment type an attractive proposition for merchants of all sizes.
When you combine this with more recent innovations like the introduction of contactless ATMs, as well as an inevitable raising of the contactless limit in the near future, this growth is unlikely to slow any time soon.
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This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.The Samsung TecTile NFC tag stickers use MIFARE Classic chips. This means only devices with an NXP NFC controller chip can read or write these tags. At the moment BlackBerry phones, the Nokia Lumia (August ), the Google Nexus 4, Google Nexus 7 LTE and Nexus 10 (October ) can't read/write TecTile stickers..
MIFARE Classic encryption has been compromised; see below for details. About MAS.
The Monetary Authority of Singapore is the central bank of Singapore. Our mission is to promote sustained non-inflationary economic growth, and a sound and progressive financial centre. Innovision Research & Technology plc. Near Field Communication in the real world – part I Contents Near Field Communication in the real world – part I profit industry association, the NFC Forum, to advance the use of NFC technology The underlying layers of NFC technology are ISO, ECMA and ETSI standards.
Because NFC is . The new European regulation is a fundamental piece of payments legislation in Europe, which entered into force in January The regulation will drastically impact the financial eco-system and infrastructure for banks, fintechs and businesses using payments data.
Here you will find AMCAT Quantitative Aptitude Sample Papers, Questions with Answers.
Q1. In a kilometre race, if A gives B a 40 m start, A wins by 19 s. This is an exhaustive, comprehensive and accurate list of all the handsets that are available around the world.
NFC World’s NFC phones list is mirrored all over the web but since it is a living document you should check this page for the latest information.