Today we pay at POS terminals, online, P2P, via our banking app, through bill pay systems and international remittances, with cards, QR codes, voice, CVC, PIN and a blink of the eye – in each case through a different user interface. The result is an inconsistent and at times confusing experience. The authentications and consent methods are different in every case, with more to come, only adding to the confusion and security issues.
Showcased were dynamic CVC (now you really need your card with you), QR codes (no authentication at all), and even paying via a virtual reality headset. The most obvious (yet absent) choice was Bluetooth LE (BLE) which is supported in close to 100% of all smartphones delivered today. The OS “war” is now a two-horse race, and those wanting to offer their own payment systems on iOS will need to resort to non-NFC methods.
For more on this story visit the following link: Mobile payments: Have the card schemes stopped innovating?
Source: Blue Chain