PRODUCT LAUNCH
Visa one-time password for
e-commerce
Go deeper with GlobalData
Thailand’s Kasikornbank has teamed
up with Visa in Thailand to release a mobile phone based one-time
password that allows customers to authenticate transactions when
they use their Visa card for purchases over the internet.
The service utilises Verified by
Visa, an online authentication platform, and provides cardholders
an increased level of protection when they shop online. The
enhanced Verified by Visa service uses a one-time password which is
sent to a cardholder’s designated mobile number via a text
messaging service.
The cardholder uses this one-time
password when making payments to verify his or her identity, making
online shopping services more secure and eliminating the need for
the cardholder to remember their password.
Visa country manager South East
Asia Peter Maher said: “Visa research shows that Verified by Visa
is one of the most popular payment security measures used by
consumers across the Asia Pacific region in the past 12 months.
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By GlobalData“By offering Verified by Visa with
one-time passwords, Kasikornbank becomes the first bank in Thailand
as well as South East Asia to add this extra layer of security –
not to mention peace of mind – for consumers making online
purchases, regardless of whether they shop locally or
overseas.”
MERGERS AND
ACQUISITIONS
Monitise moves into
Asia-Pacific region
Monitise, the UK based mobile money
networks and technology specialist, has announced a 50/50 joint
venture agreement with First Eastern Mobile Investments, part of
the First Eastern Investment Group (First Eastern), in order to
develop mobile banking, payment and related services in the
Asia-Pacific region.
The move represents a significant
opportunity for Monitise to extend its Mobile Money Manager
technology platform into these key strategic markets.
Monitise has over twom registered
customers and the live services it offers to them include checking
balances, being alerted to transactions on their accounts, paying
bills and sending money to friends and family around the world, all
securely from a mobile phone.
Each of these existing services
will be available to the joint venture and a range of new ones will
be developed in line with consumer demand and local market
requirements.
STRATEGY AND
TRENDS
Visa rolls out chip and PIN
across NZ
Visa has announced plans to switch
all New Zealand Visa cards over to chip and PIN technology over the
next four years in a bid to reduce fraud on its cards.
Visa country manager for New
Zealand Sean Preston, said: “From April 2010, all new Visa credit
cards issued in New Zealand will feature secure embedded smart
chips to give New Zealanders a higher level of confidence in the
security of their transactions.
This will be followed by the
upgrade of Visa debit and reloadable prepaid cards from April
2012.”
Signatures at the checkout will no
longer be valid from 2012, however signatures would still be
accepted on overseas-issued mag-stripe or chip cards.
The switch is part of a security
agenda that also includes initiatives to enhance the security of
online transactions.
Cardholders will be enabled to use
a Verified by Visa password when shopping over the internet.
Online retailers will be required
to capture the three-digit cardholder verification number when
processing transactions, while small and medium sized businesses
will be required to enhance their levels of data security.
PRODUCT LAUNCH
Same-day issuance at Citibank
Hong Kong
Citibank has launched Hong Kong’s
first Same-day Card Issuance Service available in branches, which
reduces the current credit card approval cycle from days to an
hour.
To celebrate the introduction of
the new service, Citibank rewards the customers who successfully
apply and collect the designated card at branch on the card
approved date with an instant offer of supermarket shopping voucher
and a welcome offer of up to 60,000 Rewards Points.
Citibank GCG director of cards
business Neil Gardner said: “Thanks to the advancement of
technology and the extended service hours of our branches to 7pm,
we are very proud to provide unparalleled flexibility and
convenience to our customers, so that they can instantly enjoy our
shopping, dining and travel privileges.”
In 2006, the instant issuance
service was available at a Citibank credit card mobile van parked
at Langham Place and circulated in different parts of Hong
Kong.
PRODUCT LAUNCH
Visa all-in-one prepaid card
for youth Olympics
Visa has launched its first prepaid
card that combines payment, transit fare and event ticketing
features.
The Visa Prepaid card’s functions
include payment for trips on Singapore’s public transportation
system, making purchases at Visa merchants, as well as serving as a
ticket for entry to the opening and closing ceremonies for the
inaugural Youth Olympic Games (YOG) in Singapore.
Visa collaborated with local
banking partner DBS Bank and public transport system EZ-Link to
bring together various applications onto the card.
The Singapore Youth Olympic Games
Organising Committee will conduct a ballot for tickets to the
Opening and Closing Ceremonies for two weeks beginning 23 April,
after which successful applicants will receive the card.
Cardholders can load value into the prepaid card at all DBS ATM
kiosks, through DBS’ online banking website and at AXS stations
across the city state of Singapore.
STRATEGY AND
TRENDS
ANZ stops all mobile banking
bar iPhone
Australia’s ANZ bank will
discontinue all mobile banking services other than its text banking
and iPhone specific offerings from 14 May, according to a letter
sent to customers.
According to zdnet.com.au, the
reasons behind the bank’s decision include the decreased popularity
of the ANZ M-Banking service as well as the fact that the same
functionalities can be accessed via the ANZ TXT Banking, ANZ
Internet Banking and ANZ Phone Banking services.
ANZ M-Banking, which first appeared
in a 2008 pilot, was devised to let customers check account
balances, view mini statements, transfer money and receive alerts.
However, in a statement the bank says the majority of the features
can be accessed through its text and internet services.
This has contributed to just 0.6% of ANZ’s Internet banking
customers using M-Banking, according to a statement sent to
ZDNet.
