French startup Lydia announced it has raised $45 million in a Series B funding round led by Chinese multinational conglomerate Tencent. Though relatively small with only 90 employees, mobile payment app Lydia is wildly popular in France, with 3 million users in the country and 5,000 people signing up every day. A large portion of…
Juniper Research has released a new report that predicts that there will be more than 161 million contactless Point-of-Sale (POS) terminals in use by 2024, more than doubling the total number of such terminals in 2019. There are currently around 78 million contactless POS terminals in circulation. POS terminals without contactless capabilities will be rapidly…
Facebook has officially launched Facebook Pay, its own competitor to online payment services like Apple Pay, Google Pay and Venmo. Despite the problems the social media giant is facing with its Libra cryptocurrency — PayPal recently announced they would be leaving the founding group of Libra, leading to the exit of Visa, Mastercard, eBay and…
“At its outset, PartX’s platform revolves around the tokenization of payment card details, which helps to secure digital transactions.” Nxt-ID, the parent company of wearable payments specialist Fit Pay, is launching a spinoff subsidiary that will manage its IoT payments activities. The spinoff, which was recently approved by Nxt-ID’s Board of Directors, will be called…
“For transactions requiring stronger authentication […] it supports two-factor authentication via SMS, as well as biometric authentication including facial, fingerprint, and voice recognition.” Adyen is staking claim to being the first payments platform provider to deliver a system that offers passive authentication for transactions based on EMVCo’s 3DS 2.0 protocol. The system is designed to…
