5.31.19 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
As New York begins its test of new contactless transit payments, Apple is luring agencies to its new fast-track metro boarding technology.
Called Express Transit, it's an Apple Pay feature that was embedded into iOS 12.3 last month, reports iDropNews. The feature allows commuters to enter public transit via an iPhone without requiring Face ID or Touch ID to confirm the payment, eliminating a step at the turnstile.
The feature is part of the New York test, and is also deployed in Portland, Ore., Japan, Beijing and Shanghai. Apple is also in discussions with London's transit agency, which has supported Apple Pay for three years, with deployment of Express Transit expected in the next few months, reports The Verge.
Pittsburgh is joining New York, Denver, Portland and other cities in adopting mobile payments for transit.
The city's Port Authority, which overseas metropolitan transit in the Pittsburgh area, plans to deploy a smartphone payment system by early 2020, reports the Pittsburgh City Paper.
The payment system will support cards, Apple Pay and Google Pay with buses coming online first. Pittsburgh's light rail system, which needs more work to upgrade for contactless payments, will come later.
Spanish biometric authentication company FacePhi has built a base for "selfie pay" and similar identity technology in its home market with a deployment at CaixaBank, and the vendor is branching out to new markets.
FacePhi has opened a new office in Pangyo, South Korea's main technology hub, and has hired Dongpyo Hong to lead the unit, reports FindBiometrics.
Dongpyo is the founder and CEO of GlobalPD, a consulting firm that specializes in fintech, internet of things, and mobile technology; and is the vice chair of the FIDO Alliance's Korea working group.
The PSD2 compliance rush is attracting security firms and their investors as banks shell out for IT upgrades.
Logalglobe and NZ Holtzbrinck Ventures have invested about $6 million into Yapily, a London-based open banking specialist that's also backed by Transferwise co-founders Taavet Hinrijus and Ott Kaukver.
Yapily sells an API to connect third parties to bank development systems — the core of PSD2's open data requirements — and is on path to reach 500 bank clients by the end of the year, Finextra reports.
From the Web
A staggering three quarters of Brits are not paying with cash
Yahoo News | Thu May 30, 2019 - Research by OneBuy, based on Worldpay’s latest Global Payments Report, has revealed Brits’ favorite ways to pay, establishing just how tech and money-savvy UK consumers are when faced with the prospect of a changing world. Debit cards are still the preferred payment method of Brits, representing 32% of all e-commerce payments and 55% of all in-store transactions.
Payments giant Stripe hires Google veteran to head Dublin base
Yahoo News | Thu May 30, 2019 - Stripe, the San Francisco-based payments platform owned by two Irish brothers, has hired Google veteran Matt Henderson to head its newly expanded Dublin engineering hub. Henderson, who led the search giant’s strategy for scaling the Google Play app store, previously led Amazon’s marketplace strategy in Europe, and founded shopping platform Rangespan, which was acquired by Google in 2014.
Western Union launches online money transfer service in Thailand
Verdict | Thu May 30, 2019 - Western Union has gone live with its online international money transfer service in Thailand. Customers in Thailand can now make remittances using the Western Union mobile app or transactional website. Users can make payments natively within the digital channels.
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