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June 11, 2012

Apple Previews Passbook App in iOS 6

Apple logo 140pxApple today announced key features of iOS 6, including an wallet-like app called "Passbook" that will be used to hold "boarding passes, movie tickets, retail coupons, loyalty cards, and more", all things that it refers to as "passes".

Quick summary of key features: The app uses 2D barcode technology to present passes to the merchant, merchants can update things like "available balance" and " current points" in the background, and geolocation technology is used for relevancy within the Passbook app.

Apple demonstrated how the available balanced on your Starbucks card would be updated automatically within Passbook upon completion of a purchase. In related news, Apple also announced they now have over 400 million cards on file in iTunes.

NCR Mobile Cash Withdrawal at ATMs

Ncr logo 140pxNCR has announced that it will provide new software that will allow consumers to initiate cash withdrawals from their bank accounts on mobile devices and then complete those transactions at an ATM by scanning a 2D barcode.

NCR Mobile Cash Withdrawal will make ATM transactions faster and more secure by removing cards and PINs from the process at the ATM. The entire transaction, while the consumer is in front of the ATM, can take less than 10 seconds.

This video at the NCR website pretty much explains how it would work. NCR is looking for beta partners.

Strategic Review of Innovation in the Payments System

Reserve bank australiaThe Reserve Bank of Australia has released the conclusions of its Strategic Review of Innovation in the Payments System. The Review was announced in May 2010, with the aim of identifying areas in which innovation in the Australian payments system may be improved through more effective cooperation between stakeholders and regulators.

A key objective is the establishment of a system that would provide real-time retail payments, with real-time funds availability, by the end of 2016. This type of system has been a focus of innovation in a number of other countries.

First Data Releases May 2012 SpendTrend

First data logo 140x60pxFirst Data has released its First Data SpendTrend analysis for the full month of May 2012 compared to May 2011.

May's same-store dollar volume growth increased 7.0% year-over-year, up from April’s growth of 5.7%. Although consumers continued to spend at a healthy clip early in the month, activity did slow as the month progressed. Transaction growth in May held fairly steady at 5.9%.

SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.

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