Wednesday, September 23, 2020

Peer-to-peer payments could come to Apple Pay

Weeks after word that Google intends for the old Google Wallet app to live on as a peer to peer payment tool, Apple has been granted a patent for its own person-to-person payments technology. Indications are galore that it may come to Apple Pay.

The patent describes a system whereby one device user can send a payment to another user’s device securely and at no cost.

“In particular, an individual using an electronic device [phone, tablet, laptop] may identify another proximate electronic device of a counterparty in a financial transaction, and may provide an encrypted payment packet to the other electronic device,” the patent reads.

Device A can send a token to the email account in Device B, where the user can choose to accept the payment by activating the token.

If and when the payee accepts the payment on his or her device, that device then sends the original information packet and another encrypted information packet to a “third party” that completes the transaction. That third party might be either the payor or payee’s bank, or a third-party financial institution.

The patent states that the communication method used by the two devices could be near-field communications (NFC) or Bluetooth technology.

The patent states that the devices on both ends of the transaction might use biometric sensors (fingerprint readers, most likely) to authenticate the users. The users might also be asked to enter a PIN code.

MOST READ

Carrefour Bahrain Introduces ‘Click and Collect’: The Latest Innovation for Faster and More Flexible Online Shopping

Carrefour, operated by Majid Al Futtaim in the Kingdom of Bahrain, is introducing Click and Collect, a new service that will give online shoppers...

Health Minister urges compliance to reduce COVID-19 infections

Health Minister Faeqa bint Said Al-Saleh urged full compliance with the mandatory precautionary measures to curb the spread of the novel coronavirus (COVID-19). She called...

Interior Minister: valid PCR certificates for entry to Bahrain via causeway

The Interior Minister General Shaikh Rashid bin Abdullah Al Khalifa said that Polymerase chain reaction (PCR) certificates accredited by the Saudi Health Ministry within 72...

The Avenues-Bahrain 3rd Year Anniversary Celebration

The Avenues-Bahrain is celebrating its 3rd year anniversary since opening its doors to the public on the 29th of October 2017. The Avenues –...

BD 150,000 ‘Shop & Win’ anniversary bonanza

Lulu Hypermarket is celebrating its 13th anniversary of being a retail leader in the Kingdom of Bahrain with a grand ‘Shop and Win’ e-raffle...

SCE launches training course for radiological and nuclear emergencies

The Supreme Council for Environment (SCE)’s CEO Dr. Mohammed Mubarak bin Dainah, launched the national training course on responding to radiological and nuclear emergencies. The...

HH Shaikh Nasser bin Hamad receives INJAZ Bahrain Board Chairperson

Representative of His Majesty the King for Humanitarian Work and Youth Affairs His Highness Shaikh Nasser bin Hamad Al Khalifa received Board Chairperson of...

Bahrain marks World Patient Safety Day

Bahrain joins the world in marking the World Patient Safety Day observed on September 17. This year's theme is “Health Worker Safety: A Priority...

Bahrain exports BD190 Million Worth of Products of National Origins during August 2020

The Information &eGovernment Authority (iGA) issued its foreign trade report of August 2020, encompassing data on the balance of trade, imports, exports (national origin),...

Gulf Air Appoints Bahraini Country Manager in Kuwait

Gulf Air, the national carrier of the Kingdom of Bahrain, announces that it has appointed Mr. Mohamed Ibrahim Al Hamer as a Country Manager...

Loan payment deference to help citizens, SMEs

The banks’ response to defer loan payments until the end of the year is a continuation of the initiatives in the financial and economic...

The aftermath of a historic night for BRAVE CF and Arab MMA

BRAVE Combat Federation’s vision of globalizing the sport started within the Arab world, which was often overseen by many other organizations, and to provide...

Gulf Air Resumes Direct Flights to Dhaka

Gulf Air, the national carrier of the Kingdom of Bahrain, announces that it has resumed its direct flights to and from Dhaka’s Hazrat Shahjalal...

GLOMAT – The First Thai-Bahrain Hybrid Virtual Business Meeting

The Royal Thai Embassy, in cooperation with the Office of SMEs Promotion (OSMEP) Thailand, Institution of Small and Medium Enterprises Development of Thailand and...

Health Ministry: target of 6000 volunteers reached

A total of 6000 people hailing from different nationalities have volunteered for the phase III COVID-19 vaccine clinical trials. The Ministry of Health has announced...