NXT-ID demos smart wallet at CES 2016

NXT-ID exclusively demonstrated its electronic wallet product to BiometricUpdate.com earlier this month at the 2016 Consumer Electronics Show in Las Vegas. The company claims that its Wocket product is the smartest electronic wallet a consumer can ever own. Designed to protect identity and replace old wallets, the product works by allowing users to simply swipe and save their payment card profiles into the Wocket product, which are immediately secured with a PIN and biometric voice print technology. According to NXT-ID,

Dinube provides mobile biometric payment system to European supermarket chain

European payment network Dinube announced it has provided European supermarket chain BonPreu with a digital payment system that uses tokenization, Near Field Communication (NFC) technology and biometric fingerprint security. Available at 170 of BonPreu’s locations, the new payment system effectively enables consumers to replace credit/debit cards with their smartphones. Available from today at 170 new locations, the BonPreu chain is the latest European retailer to integrate Dinube as its next-generation, digital payment network. The solution was developed by MIT graduate

WPG expects second quarter sales to increase by 8-13 percent

Taiwan-based IC distributor WPG Holdings announced that it expects its revenue for the second quarter of 2015 to see an 8.3-12.9% growth rate, while revenues at sister firm WT Microelectronics are forecast to see a 3.3% increase over the previous quarter, according to a report by Digitimes. First-quarter revenues for both WPG and WT Micro were at the low end of their projections. However, both firms believe that semiconductor inventory levels are improving and the demand is gradually rising. WPG

Afghan Wireless to distribute government salaries via biometric mobile payment system

Afghan mobile carrier Afghan Wireless Communication Company (AWCC) announced that the government is deploying its biometric mobile payment system to distribute salary payments to employees across Afghanistan, according to a report by the Telecom Paper. The digital payments project stems from a partnership between AWCC, the Ministry of Finance, New Kabul Bank, Maiwand Bank and the United States Agency for International Development, which provided initial start-up funding for the project. AWCC’s MyMoney platform is a biometrics-based application that ensures that

Google developing API layer to support Android mobile payments

Google has announced at Mobile World Congress that it is currently developing a new mobile payment system called Android Pay that will compete with Apple Pay, according to a report by The Verge. Speaking at the conference, Google SVP Sundar Pichai explained that Android Pay would not be a new product, but instead an “API layer” that allows third-party companies to support secure payments on Android devices via both online and physical storefronts. “We are doing it in a way

Ionosys combines a watch and fingerprint reader for biometric authentication

French startup Ionosys is now offering SmartSafe, a new biometric watch with fingerprint recognition for two-factor authentication, according to a report by Tom’s Guide. Ionosys CEO Stephane Blondeau demonstrated how SmartSafe works at this week’s CES 2015. First, the user must strap on the wrist piece, dubbed “Ionoki,” then swipe their finger across the fingerprint reader, which is called “Ionogo.” As a security precaution, users are required to reswipe their fingers every time they put on the watch. Once the

Mastercard, Zwipe unveil fingerprint authenticated contactless payment card

Mastercard has partnered with Zwipe to launch what it claims to be the world’s first fingerprint authenticated payment card, according to a report by IBTimes UK. Using the fingerprint sensor, the Zwipe MasterCard card authenticates contactless payments and can be easily integrated with other payment technologies. “Biometrics makes it very simple and convenient for consumers,” Ajay Bhalla, president of enterprise security solutions at MasterCard, told the IBTimes UK. “Passwords are inconvenient, they’re a big hassle and they get compromised. We

Use of biometrics gets lower transaction fees for Apple Pay merchants

Apple announced that it is allowing Apple Pay merchants to pay card present rates (aka cardholder present) for all transactions consumers make in store using their mobile phones, which will save them as much as 1.25 percent on each transaction, according to a report by PYMNTS.com. Apple Pay’s cardholder present rates of 1.5 percent is considerably less than card not present rates, which can command 2.75 percent or more per transaction. The lower transaction fee can be attributed to Apple’s

Idiap engineers developing vein reading biometric wristwatch

Engineers from the Idiap Research Institute are currently developing a new vein reading biometric watch called BioWatch, enabling users to own and control the watch themselves. Joe Rice – touted as the inventor of vein recognition – has partnered with Matthias Vanoni and the engineers at Idiap in Martigny, Switzerland to develop a personal worn biometric system that will secure people’s transactions. At the core of BioWatch is the wrist vein reader, a wearable technology that reads the vein pattern

Apple partners with Visa, Mastercard and American Express for iPhone wallet

Apple is partnering with credit card companies, financial institutions and retailers to enable iPhone users to make secured mobile payments, according to a report by Bloomberg. The partnership, which includes Visa, MasterCard and American Express, will be officially announced on September 9, along with details about the new iPhone 6, according to the report which cites an unnamed source familiar with the situation. The iPhone 6 will enable users to easily make secured mobile payments by including a near-field communication