Apple launched Apple Pay on Sept. 9, 2014. It became available on Oct. 20 of that year. As the two-year mark approaches for Apple Pay, the contracts written with financial institutions back then will start to expire. And with it the 15 basis points Apple gets for including the banks’ cards in theirRead More
Post Tagged with: "patents"
Say goodbye to the 16-digital credit card number. MasterCard today was awarded a patent for what it calls “variable length bank identification numbers.” Essentially, the patent protects a computer system developed by MasterCard, one of the world’s largest payment networks, to assign account numbers that are not 16 digits long. The patentRead More
Banks still have an advantage over Facebook, Twitter, and Snapchat in the payments industry when it comes to one thing: trust.