Tag Archives: mobile

Say Bye to Swipe-and-Sign Credit Cards!

7 Feb

chip and pinOctober 2015, has chosen to say bye to the swipe-and-sign of a credit card transaction.

Beginning from the next year, in all major countries where people do insert card into a slot and enter a PIN number, now won’t signing those credit card receipts. The reason behind this major step is to stop the world’s credit card fraud and brought more and more attention to the recent large-scale theft of credit card data from retailers.

In the Senate Judiciary Committee meeting in U.S., executives told the senators that once the country act on the new system- which includes credit cards embedded with a microchip containing security data- these kinds of hacking attacks will be much more difficult to pull off.

The changeover is coming through: both MasterCard and Visa, and both have set October, 2015 as an important deadline in the switch. But why has it taken this long, and how will the changeover work for card users and businesses?

Talk with MasterCard’s company expert Carolyn Balfany about new payment system, known as EMV that will end up swipe-and-sign and starting chip-and-PIN. Here’s what she had to say.

She said by answering the question “Why U.S. has taken so much longer to accept it?”, firstly there were higher fraud rates in some markets and they wanted to make this move to combat fraud. Secondly this system can operate in offline mode– the card and the terminal can authorize a transaction independent of communication with the bank’s systems.

By answering about the “liability shift” she said:

 Whenever card fraud happens, we need to determine who is liable or responsible for the costs. When the liability shift happens, what will change is that if there is an incidence of card fraud, whichever party has the lesser technology will bear the liability.

So if a merchant is still using the old system, they can still run a transaction with a swipe and a signature. But they will be liable for any fraudulent transactions if the customer has a chip card. And the same goes the other way – if the merchant has a new terminal, but the bank hasn’t issued a chip and PIN card to the customer, the bank would be liable. This way, we’re not shifting fraud around within the system; we’re driving fraud out of the system.

“How will it actually happen?” while answering she said still lot of work on this that has already happened. For merchants, the terminals and equipments are available to accept the new cards. Banks already issued cards with the chip to customers who travel abroad. Mostly consumers know how to use it. Overall some media coverage and awareness is required to explaining the system and all the benefits, and obviously how to use it.

While answering our last question about benefits other than security, she said:

With keep in mind that it is the establishment of technological platform for the next generation of payments and not only limited to chip and PIN cards, it also includes things like contactless payments at same level of security. Now account can be resident in multiple places with tag affixed to your phone or on your key ring.

This article is originally posted on The Wall Street Journal.


Say Hello To, World’s First Transparent Tablet !

3 Jan

We’ve generally seen transparent displays and tablets in sci-fi movies; however they don’t exist in all actuality at the moment. Till now, you’ve been able to utilize the front of your smartphone’s display for input, isn’t that so?

Grippity claims to be the world’s first transparent tablet to accompany two-sided touch controls. It is partially transparent which will give you a chance to communicate with its screen from both sides and utilize each of the ten fingers at the same time.

Grippity claims to be the world's first see-through tablet to come with two-sided touch controls.

Grippity claims to be the world’s first see-through tablet to come with two-sided touch controls.

The upper part of the gadget is murky and permits for thumb input. And it’s lower portion which comprises of a semi-transparent, capacitive, double sided, multi-touch display. This board measures 7 inches and releases visuals in 800 x 480p resolutions. When you sit to watch the video, then you’ll see that it could feel like to a greater extent a gaming controller in the hands than a tablet.

Consistent with Discovery News, the Grippity tablet right now runs on Android Jelly Bean 4.2 with 4GB space that could be reached out to 32 GB, it could be tweaked to run KitKat as well.

The Grippity tablet supports both Wi-Fi and Bluetooth, and likewise accompanies IR blaster that permits it to function as a remote control.

As Grippity is running Android, you can download or develop applications for your particular necessities. You can check out the video below to know more about Grippity or visit the Kickstarter project page.

grippity video

 Samsung additionally patented a technology for a transparent touch screen that might allow users to control the device from both the sides.

The report said that the cost of the Grippity tablet isn’t clear yet, user can pay 235 dollars to hold a slate for delivery by October 24, 2014 and timely risers can preorder the tablet for 159 dollars.

Posted By: Pooja Runija

‘Cardless ATMs’ Using Smartphone Apps- A Latest Test by City National Bank (CNB)

18 Oct

atm in mobileCity National Bank is testing cardless money access at ATMs. City National Bank will be the first fiscal organization located in Las Vegas, which permit clients to get money utilizing an application on their smartphones. It plans to starts a far reaching pilot test of the application that when finished will permit customers to gain entrance to their money without their debit cards when they get to machines.

The Los Angeles-based bank, with nine extensions in Nevada and $27.4 billion in holdings, said the application permits a customer to connect with the ATM from the privacy and security of their mobile gadgets, and stage a transaction before venturing up to the ATM.

The cardless ATM access from City National Bank is relied upon to be accessible in Las Vegas one year from now and soon in different nations with this ability, getting money at an ATM completely happens through a mobile application, with the special case of administering the cash. It likewise shuts a “major hole in the move from plastic to digital wallets.”

Wintrust Financial Corp. in Chicago is near finishing it’s testing of its new Cardless Cash Access brass. It wants 20 percent of its mobile banking clients will be “open to collaborating with their phones to gain cash”, City National Bank (CNB) and BMO Harris Bank are utilizing the same technology.

The bank is currently in its third test with 400 members, incorporating representatives and clients, utilizing Cardless Cash Access. The bank’s choice was part of a broader mobile wallet system since “mobile wallets are inescapable. The beginning sentiment in regards to this is “overwhelmingly positive” and researcher objective is to “pull in a more youthful demographic.”

How it works?

City National Bank’s application will tackle iPhone and Android phones. The application verifies a client on his or her smartphone.

After a buyer interfaces a debit card to a mobile application, he or she can tap on the application to select the account and amount of the withdrawal. The point when at the ATM, the customer sweeps a QR code on the ATM screen and, inside seconds, the money is administered and an e-Receipt is sent to the phone.


To decline cheating, security is given through the application’s validation and enrollment of a client’s smartphone, which takes out the danger of card skimming and duplicity episodes.

“With the burgeoning of debit and access to money at purpose of deal, financial organizations are searching for approaches to expand the utility of the ATM,” and cardless access not just furnishes a secure and simple approach to acquire cash “however acquaints with the customer another way of taking a gander at ATM utilize.” said by Vince Hruska, senior vice president and head of product system at City National Bank (CNB).

google-wallet 3

Posted By: Pooja Runija