Data Security for Payment Processing

A space I worked in for a while.  There is a lot of security that is required.  

Data Security Rules Instituted for U.S. Payment Processing System  By ZDNet  July 9, 2021

New data security rules governing the payment system that facilitates direct deposits and direct payments for nearly all U.S. bank and credit union accounts are now in effect.

The National Automated Clearinghouse Association (NACHA) stipulates that an account number used for any Automated Clearinghouse (ACH) payment must be rendered indecipherable while stored electronically.

This mandate is applicable to any facility where account numbers related to ACH entries are stored.

NACHA has instructed ACH originators and third parties that process over 6 million ACH transactions annually to render deposit account data unreadable when stored electronically, recommending measures that include encryption, truncation, tokenization, and destruction.

The regulator said access controls like passwords are unacceptable, but disk encryption is permitted, provided additional and prescribed physical safeguards are implemented.

in ZDNet  ... 

Palm Swipe Scanning at Whole Foods

 We experimented with a number of ID/payment methods.   From Iris to thumbprint to Face.   But not palm swipe scanning, installed at Wholefoods now. Contact-less.

Amazon to let Whole Foods shoppers pay with a swipe of their palm   By Jeffrey Dastin

 (Reuters) - Amazon.com Inc said it is rolling out biometric technology at its Whole Foods stores around Seattle starting on Wednesday, letting shoppers pay for items with a scan of their palm.

The move shows how Amazon is bringing some of the technology already in use at its namesake brick-and-mortar Go and Books stores to the grocery chain it acquired in 2017.

The system, called Amazon One, lets customers associate a credit card with their palm print. It offers a contact-less alternative to cash and card payments, Amazon said.  .... " 

Alexa Will Voice Pay for Gas

Been looking for how services like Amazon Alexa can add to automotive experiences.  Well here is the newest, just announced:

Safe. Simple. Swift.

Now, you can use your Echo Auto or other automotive device with Alexa Built-in to safely and easily pay for gas at Exxon and Mobil stations nationwide. No need to swipe your card, enter your zip code, or touch the keypad the next time you fuel up your car. Secured by Amazon Pay, it’s simple and safe. No additional sign-up required. Just pull up to the pump and say, “Alexa, pay for gas.”

Try it out now

1. Pull up to the pump at your Exxon or Mobil gas station.
2. Using your Echo Auto or other automotive device with Alexa Built-in, say, “Alexa, pay for gas.”
3. Follow Alexa’s prompts to activate the pump.
4. Fuel up and be on your way! Payment is handled automatically after fueling.

Wal-Mart Launches Freight and Payment Blockchain Network

Walmart continues work in the space.  Here again covering tracking, payment processing and dispute analysis.   Good example to track further.  More at the link.

Walmart launches ‘world’s largest’ blockchain-based freight-and-payment network
Walmart Canada's blockchain hits the sweet spot for the supply chain industry as it solves issues such as invoice dispute resolution and real-time data distribution.  By Lucas Mearian  in Computerworld

The Canadian division of Walmart has launched a blockchain-based supply chain that includes freight tracking and payment processing for 70 trucking companies whose goods are transported to more than 400 retail stores.

The system is now live and all of Walmart Canada's third-party freight carriers are scheduled to be on the network by Feb. 1, 2020, the company said in a statement. Walmart claims the blockchain network is the largest of its kind in the world, a claim not disputed by industry analysts. .... " 

Alexa Course for In-Skill Purchasing

Amazon is crowd sourcing Alexa skills for its infrastructure.   Have worked my way through several training outlines like the below.  Which show the direction they are moving, worth a look.    Still not what I would call very serious AI,  would like it to include skill capabilities that are more remarkable and smart.   Including the exchange of payment also complicates the design and regulation.

New Alexa Skills Training Course: How to Design for In-Skill Purchasing  Justin Jeffress

We’re excited to introduce our new Alexa Skills course, How to Design for In-Skill Purchasing. This free course outlines the best practices for designing a great monetized Alexa skill experience.

Optimize Your Voice Experience for In-Skill Purchasing

In order to effectively monetize your Alexa skills, you need to design an experience that inspires your customers to continue using your skill over and over. While a portion of the experience depends on the technical implementation (code, information architecture, APIs, etc.) it can only go as far as your voice interaction design. So we created a design-focused course to help you design a skill with in-skill purchasing. You’ll learn what makes great premium content, when to make offers, how to write offers, how to handle transitions to and from the Amazon Purchase flow, and how to provide access to purchases.

By completing this course, you’ll be equipped with the knowledge to design and optimize your skill for in-skill purchasing.

Course Components:

Introducing Our Use Case
Offer the Right Premium Content
Make an Offer at the Right Time
Write Effective Upsells
Make a Smooth Handoff
Provide Access to Purchases
Wrapping Up & Resources  ... '

Hand Scanning Payments at Whole Foods

Another payment simplification idea from Amazon.

Amazon Tests Tool That Scans Your Hand to Let You Pay at Whole Foods 
The Telegraph (U.K.)
By James Cook
September 4, 2019

Amazon is reportedly testing a hand-scanning payments system to enable shoppers to pay for groceries. Shoppers using the Orville system hold their hands before a camera; the system measures the size and shape of the hands to confirm their identity and allow the purchase to proceed. Amazon reportedly plans to implement the system in U.S. Whole Foods stores in the coming months (the retail giant bought the supermarket chain in 2017).  ... " 

Facebook Teams to Produce Cryptocurrency

Whats the ultimate of this?  Payment/Procurement angle?  Examining.  Note the broad number of participants.  And will also include the ability to integrate secure smart contracts.

Facebook launches cryptocurrency with Visa, MasterCard, Uber, and others  Facebook plans to bring payments to Whatsapp and Messenger in 2020.   By Timothy B. Lee in  ArsTechnica

Facebook is leading a broad coalition of companies and organizations launching a new cryptocurrency, the company announced on Tuesday. The cryptocurrency, called Libra, will be backed by a basket of conventional currencies and other stable assets, preventing the wild price swings that have plagued bitcoin and most other cryptocurrencies.

The new cryptocurrency will serve as the foundation for a new payment feature for Facebook Messenger and the Facebook-owned Whatsapp. Facebook says it is creating a new subsidiary called Calibra to oversee its payment initiatives. This is partly to reassure people who are concerned about Facebook's privacy record. .... 

 .... Facebook and the Libra Association released a lot of information on Tuesday morning, and I haven't read it all. There's a new programming language called Move that's optimized for secure smart contracts. There's an in-depth explanation of the Libra blockchain. And there's more information about how Libra's peg to conventional currencies will work. Stay tuned for a much deeper dive into Facebook's ambitious new platform in the coming days. ... ' 

IOTA Zeus for Retail Payment

A somewhat unexpected application for the novel IOTA 'blockchain' approach.  Following.

Zeux App Enables Use of IOTA For Cryptocurrency Payments at Retail Stores
By Gabriel M

The crypto payments startup Zeux has recently affirmed that it would team up with IOTA (MIOTA) in order to list the token for crypto payments at retail stores. According to the reports, the service will be available with stores that accept Samsung Pay and Apple Pay.

Zeux has revealed the partnership via social media, affirming that IOTA payments will be added for the new token and that people will be able to use it with several different merchants. At the moment, Zeux has a FCA regulatory license and this is probably part of the changes due to its upcoming launch in the European Union next month.

The company is also planning to launch its services in the United States soon. According to the announcements, a big number of shops from grocery stores to coffee shops will be able to receive payments using Zeux.  .... " 

Blockchains for Fees, Payments.

Been asked to look at real, novel, unique applications of Blockchain technology.     Will be posting them here ongoing.   Comments are welcome.   Do also pass along  any I have not seen.

Singapore's Biggest Online Mall Fights Alibaba With Blockchain 
Bloomberg
By Yoolim Lee

Entrepreneur Ku Young Bae, who founded Singapore's biggest e-commerce company, has launched a plan to bring blockchain efficiency to e-commerce. His Qoo10 online mall in January established a separate marketplace called QuuBe using the distributed ledger technology, which allows Ku to eliminate the fees he currently charges merchants to sell products on the site. Ku also is developing a blockchain-based payment system to draw new shoppers, in which buyers and sellers use tokens called Q*coins, which are stored in a digital wallet in the QuuBe app. The Q*coins are pegged to the U.S. dollar and are fully convertible with no extra fees, and Ku expects their value will appreciate as their circulation spreads. Said Ku, “This is my attempt to shift the paradigm and level the playing field. There hasn’t been any radical innovation in the e-commerce industry—with services largely resembling one another.” .... "

Japans Rush to Consumer Cryptocurrency

A serious step forward, heading towards the olympics.  Premature?

Will People Ditch Cash for Cryptocurrency? Japan Is About to Find Out 
Technology Review by Mike Orcutt

Japan's prime minister Shinzo Abe wants 40% of payments in that country to be cashless by 2025; in August, the Japanese government announced plans to offer tax breaks and subsidies for companies that embrace cashless systems. Methods like credit card payments and quick response codes would qualify under Abe's cashless plan, but some of Japan's financial leaders think the way to move Japan away from cash is through blockchain. Researchers from Mitsubishi UFJ Financial Group (Japan’s largest bank) and Akamai are working to build a blockchain-based consumer payment network before the 2020 Summer Olympics. In testing, the researchers claimed their system can handle more than 1 million transactions per second, with each transaction confirmed in two seconds or less; eventually, they said, it could eventually achieve 10 million transactions per second.  .... '

Blockchain Network Seeks to Rival VisaNet

Though there has been considerable hype and value slipping in Cryptocurrencies,   Blockchain architectures are still getting lots of serious minded attention.    Good to stay connected.   Note in particular the transaction speeds sought.  Here the latest:

MIT, Stanford and others to build blockchain payments network to rival VisaNet

Seven universities are collaborating to create a blockchain-based online payment system that will solve issues of scalability, privacy, security and performance, enabling up to 10,000 transactions per second.
           
 By Lucas Mearian in Computerworld  .... 

Bitcoin for Real World Payments Drops 80%

Ultimately Bitcoin has to be usable for real-life exchange.  Its use there has dropped considerably.   More evidence towards a cryptocurrency winter.  At least until capabilities and regulation catch up.  Note in particular the mention of better infrastructure.

Bitcoin for payments a distant dream as usage dries up    By Tom Wilson in Reuters

LONDON (Reuters) - The use of bitcoin for commercial payments has dropped dramatically this year, even as the original digital coin starts to fulfill one of the basic features of any payment currency: stability.

The value of bitcoins handled by major payment processors shriveled nearly 80 percent in the year to September, data from blockchain researcher Chainalysis shows. That suggests the cryptocurrency is struggling to mature from speculative asset to a serious alternative to state-issued money.

Months of relative calm in bitcoin prices after the wild swings of last winter had fueled hopes it would become widely used for payments, its intended purpose.

But its collapse in use as a payment currency has instead left big finance and crypto insiders eyeing better technological infrastructure to help bitcoin take off as a way to pay.  .... " 

See also:   Top 5 Crypto Performers Overview: XEM, Ripple, EOS, Bitcoin, IOTA  ... 

Kroger Does Mobile Payments

Surprised this has taken this long, getting to be an expectation in retail:

JPMorgan Strikes Deal With Kroger for Mobile Payments
By Jennifer Surane  and Craig Giammona in Bloomberg

" ... Kroger Co., the largest U.S. supermarket chain, will begin offering JPMorgan Chase & Co.’s Chase Pay mobile wallet in certain markets beginning next year, the two companies said Tuesday in a statement. The partnership will be Kroger’s first venture into mobile payments as the retailer seeks to bring its shopping experience into the digital age. ... " 

Global Payment Systems

How can you help your local online business go global?
By Caroline Bullock
Technology of Business reporter

But then he came across a Dutch payment company, Adyen, whose payment processing platform harnesses machine learning to customise the payment method depending on which country the buyer is in.

Adyen's clients include heavyweights such as Netflix, Uber and Spotify, so Mr Whiteoak was surprised to find out how affordable its service was, with a minimum monthly invoice of $100 (£75) and transparent per-transaction processing and commission charges.

"Before we started selling outside of the UK we had a turnover of around £6.5m," he says. "Last year we posted 10.9 million, and with the bulk of our sales coming from overseas, this growth is directly linked to our ability to offer local payment methods."

Sales have grown 125% over the last three years, he says, proving that knitting and crochet is big business. .... "

Fashionable Contactless Payment

Interesting aspect, a sort of tagging, but with fashion it seems.

Timex's new watch collection includes contactless payment straps
Barclaycard's bPay contactless chips are hiding under the leather.  ....  " 

By Jamie Rigg, @jmerigg  in Engadget.

Buy with a Smile

KFC Just Started Letting Customers Pay In a Way That Could Change Everything    By Chris Matyszczyk   in Inc.  ....

Never, though, has one of the monolithic fast food brands tried what this KFC is doing.

As the South China Morning Post reports, a KFC-owned restaurant called KPRO -- an oddly healthy place that serves salads, panini and fresh juice -- is allowing customers to pay with a smile.

I tried getting away with something similar in one or two restaurants during my teens. It didn't work well, as the owners quickly demanded, well, money. Or else.

Here, though, you walk up to a large screen. You use a touchscreen to select the very healthy food you'd like to quickly consume.   Then you click on the Smile To Pay feature.   It uses facial recognition to decide who you are. .... " 

Also, more detail in The Verge.

Walmart Mobile Pay Success

My question about mobile pay systems got me a note that pointed to this article on the success of Walmart Pay.  And its position behind systems from Samsung and Apple.    But still not ubiquitous. From Engadget:

Walmart Pay will hook new users with instant access to its credit card

A third party study shows more people use Walmart's payment system than Android's.

When Walmart debuted its own in-house mobile payments service last year, the company was not afraid to roll it out quickly. Walmart Pay arrived in 4,600 stores nationwide in under two months, proving the retail giant could still be nimble -- especially if the result meant moving customers through the checkout line faster. And it paid off: according to a third party study, just eight months after launch the QR code-based system was the third most used mobile wallet after Samsung Pay and Apple Pay. Now the company is giving customers even faster ways to part with their cash.  ...." 

Why Don't We Pay for Everything via our Phones?

Payment via smartphone is still not near ubiquitous?    Heard a presentation nearly ten years ago saying it was about to happen.  I still don't do it.  Don't know many who do.  Should be easy and safe.  Why is the adoption so slow?   Something to learn from that.

Wal-Mart Launches Walmart Pay

Payment systems can link together payment, behavioral segmentation, loyalty and mobile engagement channels.    Opportunity to link in new kinds of analytics is considerable.

In Retailing Today:
Shoppers at Walmart stores will soon be able to pay with their smartphones as the retailer has developed a unique solution to become the newest entrant in the crowded world of mobile wallets.

Branded as Walmart Pay, the service is a uniquely Walmart solution to the rapidly evolving world of mobile payments that is likely to increase downloads and utilization of the retailer’s mobile app. By adding payment functionality to its app, Walmart said it is the only retailer to offer its own payment solution that works with any iOS or Android device at any checkout lane, and with any major credit, debit, pre-paid or Walmart gift card. ... " 

Wallet is Marketing Platform of the Future

In Adage:  Wallet as marketing platform.    And as more interaction occurs in the aisle, it is likely the power of this will expand.  " ....  Last year, just 14% of marketers and digital business executives used mobile wallets to engage with their customers. Fast forward to this year, when 27% plan to add mobile wallets to their marketing tool kit. Why the shift? As consumer usage begins to reach critical mass over the next three years, mobile wallets will see an integration of value-added services that push the platform beyond payments. The result will be a new marketing channel. ... "