Tag: nfc technology

An Australian financial institution has launched a mobile payments service for consumers.

Bendigo Bank, in partnership with Samsung Electronics Australia and Community Telco Australia, an Adelaide Bank telecommunication subsidiary, has released a retail point of sale (POS) mobile payment solution called “redy”, which gives consumers the capability of making a payment and even donating to a local charity by scanning unique QR codes.

Customers can make payments via their Apple or Android mobile devices.

To make a payment, consumers must first download the redy app, which is required in order to be able to scan the quick response code that is displayed on the Samsung redy tablet located at the POS. Bendigo Bank patrons can connect the redy app directly to their savings account. Those who are not clients of the financial institution can link the app to their MasterCard or Visa account.

To help ensure the security of customers, every QR code is uniquely and automatically generated by Bendigo Bank’s system each time a new transaction is processed. In addition, the receipts from transactions remain on the app, so the customer’s personal data and shopping information is not distributed to the merchant.

Furthermore, redy is not only an efficient shopping service. In addition to enabling customers to make convenient purchases, it also rewards them with “creds”. This is a virtual currency that consumers earn in real time. The value of “creds” received per transaction is half a percent of each transaction. Customers can use this virtual money in more than one way. They can save the currency and use it at a later time to make purchases with businesses that support the redy service. They may also donate “creds” to a local initiative or charity.

QR codes seemed like a more logical solution to NFC Technology.

According to David Joss, CEO of Community Telco Australia, Bendigo Bank chose QR codes over near field communication (NFC) technology or Bluetooth low energy technology due to the fact that QRcodes can be scanned by all mobile devices, which allows more mobile users to benefit from the service. Not every smartphone on the market is equipped with the necessary tech to support NFC or Bluetooth. This makes the app more open.

New report highlights the features of the upcoming iPhone 6

New information concerning the iPhone 6 has been released in a report from Venture Beat. The information comes from an as yet unidentified source that claims to have inside knowledge concerning Apple’s operations. The report adds fuel to the already widespread rumors concerning the forthcoming iPhone 6, such as its operating system, and its viability in mobile payments. Notably, the report suggests that the new iPhone will be equipped with NFC technology, which is something Apple has avoided in the past.

New iPhone to finally support NFC technology

According to the report, the iPhone 6 will support NFC technology. Apple had been leery of the technology in the past because of security concerns regarding mobile payments. These concerns seem to have been allayed, however, as the company now believes that NFC may be suitable for a new form of commerce. The technology will allow the iPhone 6 to facilitate mobile payments and support a variety of mobile wallets and similar applications.

Mobile security may be less of an issue thanks to biometric technology

The report notes that the iPhone 6 is slated for launch in fall of this year and will be equipped with the iOS 8 operating system. The device will feature wireless charging technology, a bigger and more durable screen, and several other hardware upgrades over its predecessor. The device will also be equipped with Apple’s new biometric sensors, which may be why the company is so keen to support NFC technology as biometrics will help made mobile payments more secure.

Apple finds a solution to its security concerns regarding mobile payments and consumer protection

Apple had opted not to rush into the emerging mobile money scene in order to avoid the pitfalls that other large companies have fallen victim to. Security has been a major issue in the mobile space and large companies have failed to find ways to sidestep some simple problems when it comes to providing consumers with protection against exploitation. With biometric technology, Apple may have found a way to alleviate the security problem.