Iris-Scanning Biometric Verification Goes Live with Exclusive Visa Card
A spherical biometrics device called the Orb can scan a user’s iris to enroll them in an identity verification program that offers various perks. The project is facilitated by World, a company co-founded by OpenAI CEO Sam Altman. According to CNBC, six Orb locations are launching in the U.S., including Austin, Atlanta, Los Angeles, Nashville, […]
Apple Loses Payments Battle with the EU; Is X Next?
A video game maker has helped The European Union’s Digital Markets Act (DMA) claim its first major victory. Apple will now be required to allow sellers using its App Store to mention or link to alternative storefronts or other payment offers. Previously, Apple customers could only complete purchases through the App Store, where Apple takes […]
The Warning Signs Looming Over Credit Card Lending
The credit card industry seems headed for uncharted waters. Inflation, better than a year ago, remains high. Nonetheless, consumers are tamping down discretionary spending as the fears of a recession loom. Government jobs—a traditionally safe, well-paying sector—are under extreme pressure, and border states and the manufacturing sector are wary of the impact of tariffs. In […]
Google Wallet Adds Digital ID Support and Expands its Reach
For users in the UK and certain U.S. states, Google Wallet is introducing digital ID support designed that could ease travel disruptions and streamline age-restricted purchases. In Arkansas, Montana, Puerto Rico, and West Virginia—states which already offer government-issued digital IDs—residents will be able to add their identification to their digital wallet. Meanwhile, users in Arizona, […]
Mastercard’s Stake in Corpay Allows It to Workshop New Cross-Border Offerings
Mastercard has acquired a 3% minority stake in payments platform and network Corpay, which processes large-ticket payments in over 160 currencies worldwide. The partnership positions Corpay as the exclusive provider of currency risk management and integrated large-ticket cross-border payment solutions for Mastercard’s financial institution customers. The collaboration aims to streamline customer access to a […]
Where Can Financial Institutions Turn for Guidelines in Cyber Resiliency?
Regulation continues to recede from the realm of cybersecurity, leaving organizations to fill these gaps on their own, using their own knowledge bases. The onus now falls on the financial services industry to self-govern and for cybersecurity leaders to come up with their own standards to ensure best practices. In 2024, the nonprofit organization MITRE […]
Biometrics Could Change How Patriots Fans Pay at the Stadium
Gillette Stadium, home of the NFL’s New England Patriots, will soon install a range of biometric systems for fans, including ticketless entry and hands-free concessions stands. The stadium’s facial recognition system will be provided by NWN, which already supports credentialing and access control at the venue. The Kraft Group, which owns both the Patriots and […]
How AI Agents Are Managing Shopping and Payments
Artificial intelligence is already shaping the shopping experience with personalized recommendations, but Mastercard’s Agent Pay gives AI a more active role. For example, a consumer hosting a large event, like a birthday party, could chat with AI about themes and items they need. An AI agent would then shop for those items and provide data […]
Sports and Entertainment Venues Can Be a Proving Ground for Payments
A cursory survey of sports venues will reveal fields sponsored by Citi, Chase, PNC, and Truist—just within Major League Baseball alone. However, the connection between payments and the arenas and stadiums that host events runs much deeper than naming rights. With a captive audience of thousands, there’s a strong opportunity to drive loyalty and revenue, […]
Cashless Payments Are a Boon for Vending Machines
Consumers spent more than $3.5 billion at food and beverage vending machines in 2024, a 15% increase over 2023. While vending machines were initially thought to be poorly suited for credit cards and digital payments—due to concerns over transaction fees on small purchases—the opposite has proven true. Indeed, cash-operated vending machines are quickly becoming a […]