Latest news with #contactlesspayments
RNZ News
3 days ago
- Business
- RNZ News
Can the national ticketing project get back on track?
The nationwide ticketing project would allow NZers to tag on to buses, trains and ferries using contactless payments. File photo. Photo: RNZ / Rebekah Parsons-King The long awaited $1.4 billion national ticketing project needs to get back on track, says the transport minister, with Waka Kotahi advice earlier this year seen as "overly optimistic" about the project's viability. Meanwhile, the US firm responsible for its development has seen its credit rating drop this month. The nationwide ticketing project would - for the first time - allow New Zealanders to easily tag on to buses, trains and ferries using contactless payments across the country. In 2022 an almost $500 million was signed with US defence contractor Cubic to deliver the plan, with rollout having started in December with a pilot on Route 29 in Christchurch. It has since fallen behind targets to be piloted in other parts of the country, due to technical complications with the project. In April , Auckland councillor Andy Baker said it may be time for the city to walk away from the plan and Auckland Mayor Wayne Brown told RNZ he was very concerned about it. It was meant to be on public transport across the country by the end of next year, but a review of the project has been launched, and a revised rollout plan was due to be announced in August. In a briefing document to Transport Minister Chris Bishop from NZTA Waka Kotahi in February, the transport agency was positive about the project's rollout. "The NTS project is on target to be completed on time and within budget". The paper did note that there were some time and budget pressures with the payment overhaul, but further information on this was redacted in the document. When RNZ approached Bishop's office with the briefing he said although the Christchurch pilot showed "some promising signs", he was concerned about the project. "I believe NZTA may have been overly optimistic in their evaluation of the project's viability moving forward in their briefing from February." Bishop said he had met with the NTS governance group to stress the significant investment in the payment plan and "encourage them to exercise leadership to get the project back on track". "The group has commissioned an independent review into the project to identify opportunities for improvement in the programme, and I expect to receive a copy of its findings in July, along with a plan to deliver the project." He was advised that its budget was not an issue. In a response to RNZ, NZTA Waka Kotahi said the NTS Governance Group was working to address challenges with complex parts of the technology. "In May 2025 the NTS Governance Board commissioned an independent review of the programme to provide an independent assessment on the current plan, the challenges for delivery and approach to managing programme delays, and to support the successful delivery of the NTS programme. "The independent review is expected to be completed with a final report presented to the NTS Governance Board at the end of July 2025." US defence and transport contractor Cubic has developed the ticketing overhaul with Waka Kotahi. On 9 July the financial agency Fitch Ratings downgraded the company's credit rating from B negative to triple C negative - rating which indicated that there was a substantial credit risk for the technology business. The change was due to the company completing a restructure of its debt. In a statement to RNZ, Cubic said that it had reached an agreement with its financial sponsors and lenders that would enhance its liquidity, strengthen its capital structure and position it to accelerate its strategic investments. Both the transport minister and NZTA Waka Kotahi would not comment on whether they were concerned about the company. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Finextra
15-07-2025
- Business
- Finextra
MB Way enables NFC payments on iPhone
MB WAY, Portugal's leading mobile payment app, is now the first euro-denominated application in Europe to offer NFC (Near Field Communication) payments on iOS devices. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. iPhone users can now make secure, contactless payments directly with MB WAY, marking a significant step forward in the evolution of mobile payments in Europe. This development follows the enforcement of the EU's Digital Markets Act (DMA), which requires Apple to grant third-party apps access to the iPhone's NFC chip - a functionality previously restricted to Apple Pay. With this update, MB WAY users on iOS can now enjoy the same seamless contactless experience already available to Android users since 2017. 'This is a breakthrough moment for digital payments in Portugal and across the EU,' says Madalena Cascais Tomé, CEO of SIBS. 'By enabling NFC payments on iPhone, MB WAY ensures a consistent and inclusive user experience across platforms - reinforcing our commitment to innovation, convenience, and freedom of choice. We believe this evolution strengthens the European digital economy and sets a precedent for fairer access to key mobile technologies. At SIBS, we remain focused on developing secure, interoperable, and future-proof solutions that simplify everyday life for people and businesses.' Launched by SIBS in 2015, MB WAY has grown into the comprehensive and most widely used mobile payment solution in the Euro Zone. It allows users to make instant transfers, shop online, create and manage virtual cards, split bills, and pay in-store via QR code or contactless technology. With more than 6,5 million users, more than 1bi transactions yearly, and widespread acceptance across PSPs and merchants, MB WAY has become the preferred consumer mobile solution in Portugal and plays a central role in the Europe's digital economy. With this new functionality, MB WAY further strengthens its position as a benchmark for user-centric, interoperable payment solutions in Europe. QR code payments remain available in the app and continue to offer a convenient alternative for everyday transactions. MB WAY and SIBS are also founding members of EuroPA (European Payments Alliance) - an initiative that brings together national payment solutions from across Europe to create a unified, interoperable payment network. The goal of EuroPA is to enable users to make cross-border payments using their local apps, fostering a more connected and competitive European payments landscape.
Globe and Mail
10-07-2025
- Business
- Globe and Mail
Buy 3 AI-Powered Giant Financial Transaction Services Stocks for 2H25
The financial transaction services industry is expected to benefit from expanding transaction volumes resulting from the widespread adoption of digital means. The ongoing digitization movement across the globe is a major catalyst for this industry. In addition to global digitization, the financial transaction services providers are expected to benefit from the rising adoption of contactless and cross-border payments, resilient consumer spending and strategic growth through mergers and acquisitions (M&A). Advancements in technologies like BNPL, biometrics and cryptocurrency are also expanding market reach and boosting revenues. At this stage, we recommend three financial transaction services bigwigs with a favorable Zacks Rank. These companies are increasingly adopting high-end artificial intelligence (AI) technologies to provide a secure, top-quality service. These companies are: Visa Inc.V, Mastercard and PayPal Holdings Each of our picks currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Financial Transaction Services Industry Thriving Resilient consumer spending has benefited providers of financial transaction services, contributing to increased transaction volumes and higher revenues. The continued growth of e-commerce, supported by broader Internet penetration and widespread smartphone use, will likely sustain strong consumer spending. Moreover, continued technology investments and expected interest rate cuts support long-term growth and innovation across the space. The Zacks-defined Financial Transaction Services industry is currently within the top 18% of the Zacks Industry Rank. Since the Internet Software industry is ranked in the top half of Zacks Ranked Industries, we expect it to outperform the market over the next three to six months. The chart below shows the price performance of our three picks in the past three months. Image Source: Zacks Investment Research Visa Inc. Visa's strong market position is underpinned by consistent volume-driven growth, acquisitions and technological leadership in digital payments. Expansion in cross-border volumes, rising digital transactions, and investments in AI and stablecoin infrastructure enhance V's prospects. Visa's strategic acquisitions and alliances are fostering long-term growth and consistently driving revenues. V is fueled by continued increases in payments, cross-border volumes and sustained investments in technology, and is witnessing significant profit growth. The ongoing shift to digital payments is advantageous for Visa, with strong domestic volumes supporting its overall performance. With fraud cases on the rise and AI adoption increasing, V's services are in high demand. V has embedded AI and generative AI into over 100 products, primarily for fraud prevention and cybersecurity. Visa has invested $3.5 billion in rebuilding its data platform. V's technology helps prevent $40 billion in fraud attempts annually. Through strategic diversification, innovation, and AI-driven security, V is well-positioned for long-term growth. Visa has an expected revenue and earnings growth rate of 10.2% and 12.9%, respectively, for the current year (ending September 2025). The Zacks Consensus Estimate for current-year earnings has improved 0.1% in the last 30 days. Mastercard Inc. Mastercard's acquisitions are helping it to grow addressable markets and drive new revenue streams. We expect MA's net revenue to rise 13% year over year in 2025. The accelerated adoption of digital and contactless solutions is providing an opportunity for MA's business to expedite its shift to the digital mode. Strong cash flow supports its growth initiatives. Mastercard is aggressively adopting AI technologies to enhance security and customer experiences. MA is using AI in five different aspects of its operations. First, fraud detection and prevention. Second, optimize the payment processing services. Third, customer experience personalization. Fourth, deeper analysis of customer behavior using predictive AI analytics tools. Five, use of high-end AI technologies to enhance merchant services. Mastercard has an expected revenue and earnings growth rate of 13.1% and 9.7%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.1% in the last seven days. PayPal Holdings Inc. PayPal Holdings is benefiting from robust growth in total payment volume. Strengthening customer engagement on PYPL's platform is a major positive. Venmo's improving monetization efforts and rising adoption rate across various platforms are aiding total active accounts growth. The solid momentum of core peer-to-peer and PayPal Checkout experiences is a tailwind. Well-performing merchant services are also a positive. Strengthening presence in both the United States and international markets is contributing well. Accelerating transaction revenues of PYPL are likely to continue driving the top line. PayPal is significantly leveraging AI across its platform to enhance fraud detection, personalized experience and operational efficiency. PYPL's agentic AI ecosystem enables the company to simplify and streamline integration across all its services. PayPal Holdings has an expected revenue and earnings growth rate of 3.7% and 8%, respectively, for the current year. The Zacks Consensus Estimate for the current-year earnings has improved 2.2% in the last 30 days. Higher. Faster. Sooner. Buy These Stocks Now A small number of stocks are primed for a breakout, and you have a chance to get in before they take off. At any given time, there are only 220 Zacks Rank #1 Strong Buys. On average, this list more than doubles the S&P 500. We've combed through the latest Strong Buys and selected 7 compelling companies likely to jump sooner and climb higher than any other stock you could buy this month. You'll learn everything you need to know about these exciting trades in our brand-new Special Report, 7 Best Stocks for the Next 30 Days. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research ( Zacks Investment Research
Zawya
10-07-2025
- Business
- Zawya
Google Pay - a contactless payment option for Oman's Android users
Muscat: Google recently announced the start of Google Pay or Google Wallet in two new countries, Lebanon and Oman, which can be used via Android phone devices. While making an announcement, the company said Google Pay allows people to pay and make secure purchases in stores (where contactless payments are accepted), in apps, and on the web. Cardholders will also be able to store credit or debit cards for Google Pay within Google Wallet, a digital wallet. Cardholders can make safer payments with multiple layers of security for transactions by using a virtual card number (a token), device-specific, that is associated with a dynamic security code that changes with each transaction. In Oman, Users can utilize Google Pay to make purchases through websites and mobile applications that support the service. However, features like sending money to friends or paying for services are not supported in Oman. For now, only Sohar International Bank has enabled Google Pay for customers, allowing them to make contactless payments using their Android phones. This service is available for international debit, credit, and prepaid cardholders. To use Google Pay, customers need to add their card to the Google Wallet app. Last year, with the launch of the Apple Pay service, the Sultanate of Oman joined the rest of the GCC markets that enable people to make online and offline payments via mobile devices. Unlike Samsung Pay, Google Pay will be available for all Android mobile users with versions Android 9 or higher. Mohammed bin Saif al Manji of TechOneFive, an initiative group promoting awareness of new technologies, stated, "Digital payments in Oman are gaining remarkable momentum, driven by the Central Bank of Oman (CBO)'s proactive efforts to promote a cashless society through initiatives such as mobile wallets, QR code payments, and robust card tokenization frameworks. The launch of Samsung Pay in April 2024 and Apple Pay in September 2024 marked key milestones in this journey. The recent support for Google Pay adds another secure and convenient option for users across the Sultanate. These platforms empower consumers to make contactless payments seamlessly using their smartphones and smartwatches. Many Omani banks have integrated these solutions, enabling customers to link their debit and credit cards effortlessly. This aligns directly with Oman Vision 2040, which emphasizes digital transformation and sustainable economic modernization.' 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Yahoo
04-07-2025
- Business
- Yahoo
Curve Pay expands tie-up with Thales for digital wallets on iOS
UK-based digital wallet provider Curve has expanded its collaboration with payment solutions provider Thales. The partnership enables Curve customers to utilise NFC payment functionality directly within the Curve App, facilitating contactless payments in-store on both iOS and Android devices. The service is supported by Thales' D1 platform, a cloud-based system that allows for real-time operation and integration with existing payment infrastructures. Curve CEO and founder Shachar Bialick said: 'Our collaboration with Thales marks a significant step in providing users with a seamless, secure, and innovative payment solution. 'By building robust guardrails into Curve Pay, powered by Thales' industry-leading platform, we're not just safeguarding transactions, we're empowering our customers to take full control of their financial lives.' The D1 platform's technology enable customers to digitise a payment card through a mobile wallet, providing instant payment services without the need for additional hardware. This feature is now available to Curve's user base in Europe, which exceeds six million. Thales digital payment services director François Chaffard said: 'Our collaboration with Curve Pay is a clear example of how innovative fintechs and trusted technology partners can shape that future together. 'By integrating our D1 platform, we're enabling a new level of freedom and flexibility for mobile NFC payments - without compromising on security or compliance.' In May, Curve announced the launch of Curve Pay for iOS users, utilising the iPhone's NFC interface, which was opened following the European Commission's ruling on competition. "Curve Pay expands tie-up with Thales for digital wallets on iOS " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
