Alipay Trials Face Recognition, FB Messenger Pay, SXSW, New Apps, and the World this Week

March 20, 2015     By : Ocean

Here’s what you missed on LTP this past week, March 16, 2015 – March 19, 2015:

Alibaba Poised to Make Face Recognition a Key Biometric Authentication Feature for Alipay

E-commerce Giant Alibaba is adding a facial recognition feature dubbed “Smile to Pay” to its mobile payments service Alipay.

Is Square Shifting Focus Away from Consumer Oriented Services?

Square is shutting down Square Order, an app that allows consumers to pre-order food and beverages for pickup from local merchants. This may be in favor of a different system, as Square recently acquired Caviar, which connects restaurants with an outsourced delivery service.

4 Big Payments News Alerts from India

  • RBI removes the stringent two-factor authentication for low denomination payments
  • Axis Bank, MasterCard and Vayana Network look to solve business payment issues
  • Paytm, is now offering IMPS as part of its payments platform, to allow its mobile wallets to transfer money to any bank account and in real time
  • Nuspay to Bring Tokenized Payment Solution to India

Payments and Commerce at South by South West #SXSW

We covered all the relevant payments and digital commerce news from SXSW, including a comprehensive compilation of the finalists in their accelerator.

Etsy, Independent Merchants, TouchSuite, & Other Supporters of Apple Pay

Apple Pay’s list of supporters is growing larger everyday. Here is a list of some recent additions to the Apple Pay family:

  • Apple Pay is now available on all TouchSuite Firefly POS Products
  • Etsy to add Apple Pay to Etsy App
  • Apple is focusing on independent merchants as it continues to promote Apple Pay

PayPal’s Deep Learning, Artificial Neural Network Algorithms to Fight Fraud

PayPal is adopting the “Deep Learning” approach to strengthen its cyber security, thus making itself a more difficult target for cyber-attacks. Deep Learning systems utilize an artificial neural network of algorithms to learn and adopt.

Banks are Exiting the Remittance Business

Banks are not very keen on growing the remittance business. We have compiled a list and analysis of banks around the world that have closed their remittance services. Regulatory, policy, and business model issues, among other things, are causing problems on a micro and macroeconomic level.

Starbucks Starts Deploying “Mobile Order & Pay” at 650 Outlets

Starbucks customers across the U.S. can now order their favorite beverage from their phone, and it will be ready and waiting for them at a specified Starbucks location. The service, called “Mobile Order & Pay”, is seamlessly integrated into Starbucks’ mobile app and rewards loyalty program as well.

Lyft Wants to Provide Multiple Payment Options, Includes Google Wallet

Lyft users can now pay for rides using Google Wallet. At the end of each ride, passengers can add a tip, then submit their payment. Lyft recently added OneTouch support to it’s app, and may continue adding support for other mobile wallets.

It’s Time Swiss Watch Makers Start Thinking About Watch Payments

Swatch, the popular Swiss watchmaker, is planning to release a new line of smart watches that will incorporate NFC to enable mobile payments, dubbed “Swatch Touch”. With the line between fashion and technology blurring as a result of the recent popularity of wearables, Swiss watch makers are feeling the heat.

Facebook Messenger Will Now Have Person To Person Payments

Facebook has now integrated a payment feature into its Messenger app. On other global platforms, this has been done many times before, but within the U.S. this is a pioneering capability.

Physical Tender May Soon Be a Thing of The Past

IBM is rumoured to be in talks with central banks about the creation of a “blockchain” based currency. Blockchain is the concept that powers Bitcoin. This project is currently in early stages of development.

Xiaomi Wallet Brings “Interest” to Consumers

Xiaomi, a smartphone company, is looking to make bold moves in the mobile wallet space. They have already partnered with financial institutions in an effort to work towards these goals. As seen in larger smartphone brands, entering the mobile wallet space seems to be a new focus for these companies.

The Future is Coming Very Soon – From QSR to Retail

Here are a few use cases highlighting the next generation of retail experiences:

  • eBay’s Smart Dressing Room
  • McDonald’s Future Vision for its Dining Rooms
  • Macy’s Smart Fitting Room
  • Zebra’s BLE Powered Digital Displays
Stay Fresh on FinTech. Get our Daily Insights.

Ocean

Ocean is studying Journalism, International Studies, and Japanese at the University of North Carolina at Charlotte. He is very interested in East Asian history and Pop-Cutlure, particularly concerning Korea, India, and Japan. Ocean has great interest in a vast range of technologies and enjoys reading up on cutting edge developments in his free time.