Apple And Google Explore Blockchain To Roll Up Their Wallets, Credit Cards Under Threat
Wallets of various descriptions have come into vogue of late. Some of these wallets are run by large IT companies like Apple and Google, whilst others are run by financial institutions such as the banks. Then there are the likes of Paypal who also have a stake in the whole wallet business. These wallets exist in different forms and shapes and while some are only payment apps, others feature contactless payment technology which allow people to pay for things at shops. The underlying technologies for these wallets range from QR, NFC, Wi-Fi, Bluetooth etc. Surge in payment apps. According to....
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In February, Bitcoin Magazine reported Google's preliminary announcement of Android Pay. In June, we reported the official announcement of Android Pay at the annual Google I/O event on May 28 and 29, where Google revealed more information on its upcoming payment platform. On Thursday, September 10, Google announced that it is beginning to roll outAndroid Pay. "We'll be rolling out gradually over the next few days, and this is just the beginning," notes the announcement. "We will continue to add even more features, banks and store locations in the coming months, making it even easier to pay....
For the time being, Bitcoin and other cryptocurrencies remain a high-value target for criminals. Fake Bitcoin wallets are a real threat to the cryptocurrency ecosystem. Mainly the Apple App Store seems to allow illegitimate wallets more often than not. A total of six new false wallets has been added to the Apple App Store over the past few days. Bitcoin users need to be aware of these issues and make sure they only install legitimate offerings. Six new malicious wallets on the Apple App Store is quite a significant development. Not in a positive manner by any means, though, as the....
Russians cashed out over $1.3 billion from banks on the first day of Russia’s invasion of Ukraine, the largest amount since the onset of COVID-19. Several Russian banks that have been sanctioned over Russia’s “special military operation” in Ukraine will no longer support major payment services like Apple Pay and Google Pay.Russia’s second-largest bank, VTB — as well as other banks like Sovcombank, Otkritie, Novikombank and Promsvyazbank — are on the list of companies sanctioned by the United States, the Bank of Russia confirmed on Friday.Users of debit and credit cards issued by these....
A company based out of New York City called HyprKey aims to accomplish a three-factor level of security that credit cards, Apple Pay, CurrentC and Bitcoin haven’t. The day of paying for goods and services with our mobile devices instead of swiping credit cards is dawning. Apple Pay links customers’ credit cards to their mobile payment system, their ads seem to be everywhere, and their presence is increasing in stores. “Other attempts at tokenization of virtual credit cards have raised processing fees for merchants and wallet platforms. HYPR-3 seeks to lower them by reducing fraud. By....
Near Field Communications (NFC) is a modern technology that allows communication between two electronic devices without an internet connection. There are many reasons why NFC is beneficial to consumers but as with many modern technologies; it doesn’t come without its risks. Platforms such as Apple Pay and Google Wallet both use NFC and the added convenience is by far the most popular advantage, as NFC makes it quick and easy for people to make purchases from their contactless cards or their mobile phone. The benefits. Let’s take a look at how NFC technology is used and how it is....