SoftBank chief executive Masayoshi Son invested $164 million in startup Mapbox, which is used by Lyft drivers, Snap and Mastercard, and in the process revealed his plans for his nearly $100 billion Vision Fund. The Fund, which includes money from Saudi Arabia and others, is aimed at preparing for new paradigms in work, medicine and so on that will occur due to artificial intelligence. Son believes in Singularity, the idea that robots will change the work force and machines will become smarter than people. Continue reading SoftBank’s Masayoshi Son Reveals His Plan for Vision Fund

Apple instituted a privacy technology, called differential privacy, that enables its software to understand users without spying on their activities. Now, Microsoft and Uber are also trying out the same technology. While differential privacy reportedly can keep data anonymous, experts warn that it’s becoming easier than ever to identify people from anonymous data sets. That includes biometrics; Citigroup has abandoned a project begun in 2015 to allow customers to scan their irises to access their accounts at an ATM. Continue reading Apple, Microsoft, Uber Turn to New Data Privacy Technology

MasterCard just added its digital wallet MasterPass to Facebook Messenger, which will let consumers easily place online orders on the service. MasterPass is already available with FreshDirect and Subway, but is in its early stages of rollout. In related news, PayPal Holdings, which last year said would unveil its payment services on Facebook Messenger, will now unveil it on Alphabet’s Android Pay. Visa and MasterCard are also focused on expanding the consumer and merchant use of their digital wallets. Continue reading MasterCard Introduces Digital Wallet to Facebook Messenger

Chat is the latest significant tool in enterprise, as evidenced by Facebook’s introduction of Workplace by Facebook, a version of its social network for organizations, and Microsoft’s new Office 365 productivity tool Microsoft Teams. More such chat tools come from HipChat and Slack Technologies, the latter of which counts four million daily active users and is valued at $3.8 billion. Facebook also opened Messenger for businesses to build virtual assistants, and developers have already built more than 33,000 so-called chatbots. Continue reading Group Chat, Chatbots Gain Traction as Business Applications

Uber Technologies, MasterCard and the Alabama Department of Revenue are among the handful of companies and government agencies beginning to use selfies, rather than passwords, as proof of identity. Smartphone cameras take better quality photos than before and facial recognition software is more accessible and affordable, which makes this a new option. But some experts in cybercrime aren’t as sanguine, worried that this way of proving identity is riddled with both security and privacy issues. Continue reading Uber and MasterCard Moving to Selfies for Identity Verification

Out of Messenger’s one billion users, 300 million people are now using its audio and video calling features every month. This represents tremendous growth from Facebook’s first trials with VoIP audio for Messenger in 2013, and video calling in mid-2015. More recently, Facebook launched Instant Video for live connections in Messenger and group audio calling, with hints on plans to introduce group video calling. The idea is that multimedia options will always be part of the ongoing conversation. Continue reading Facebook Messenger Unveils Native Bot Payments, Webview

In addition to its 2.2 million square feet of exhibit space and product showcases, CES offers nearly 300 conference sessions covering the gamut of consumer technology. Its 36 different conference tracks explore industry sectors from Automotive to Wireless. These conference sessions leverage the presence of more than 48,000 senior-level executives and government officials, many of whom participate on panels or present as subject matter experts. ETC will cover the most relevant sessions from Las Vegas, January 5-9. Continue reading CES: Conference Tracks Explore Breadth, Depth of Innovation

Apple is in talks with banks to develop a new payment service to allow an iPhone user to send money to another iPhone user, most likely bypassing Visa and MasterCard by working directly with banks. The talks are at an early stage and no one involved would comment on the evolution of the plan. But multiple sources confirm Apple’s talks with the country’s largest banks and that the company is serious about moving forward. Unknown is whether credit card companies are engaging Apple or waiting for the company to contact them. Continue reading Apple in Talks with Banks About New Money-Transfer System

With the introduction of credit cards with an embedded security chip, the banking and retailing industries are battling over issues of security, fraud and the cost of adoption. For years, European banks have issued credit cards with both the chip and a PIN; U.S. banks are foregoing the PIN and relying solely on the chip and an in-person signature. Retailers argue they are absorbing the high cost of adopting the chip technology and paying interchange fees, without reaping any of the benefits of lower fraud. Continue reading Retailers and Banks Battle Over Adoption of Chip Technology

Google now offers Android Pay, a mobile phone payment service similar to Apple Pay. Android Pay works with Visa, American Express, Discover and MasterCard and can be used at more than one million retail locations in the U.S. Android Pay requires a phone that runs Android 4.4 KitKat or newer and has a Near Field Communication (NFC) chip, a feature of most Android phones in the last three years. Android Pay, available in the Google Play app store, will come preloaded in new Android phones. Continue reading Google Unveils Android Pay, Improvement Over Google Wallet

Meerkat has launched a new real-time video feature called Cameo that allows users to invite friends on the mobile app to take over their live streams. The new feature could lead to an interesting opportunity for brands to work with celebrities and social influencers. For example, a company such as Red Bull could promote upcoming livestreams with their sponsored extreme-sports athletes. Fox, Hulu, MasterCard, Southwest Airlines and The Weather Channel are among those already signed up to use Cameo. Continue reading New Meerkat Feature Makes Real-Time Video More Interactive

MasterCard plans to test a new program this fall that will experiment with using facial scans to approve online purchases. Consumers will photograph themselves with their smartphones at checkout, an approach MasterCard believes will be easier than remembering passwords. The company also believes it will help combat fraud. While SecureCode was used in 3 billion transactions last year, passwords can still be forgotten, intercepted or stolen. As a result, a number of companies have been turning to biometrics as a solution. Continue reading MasterCard to Test Using Facial Scans for Purchase Approvals

Official FIDO certification for 31 products — from physical devices to login services — has been issued to 18 companies, marking the first certification under the new spec that aims to foster alternatives to password authentication and provide new opportunities for interoperating services. Systems compatible with FIDO can accept logins from any certified device, such as a fingerprint reader or voiceprint detector. Google’s all-purpose login service was certified as a universal two-factor server, and Yubico received certification for two USB security keys. Continue reading FIDO Certification is First Step for a World Without Passwords

Banks are scrambling to tighten security measures as Apple’s mobile payments service experiences a growing incidence of fraud. Criminals are lifting credit card numbers and stealing identities through Apple Pay by reportedly exploiting vulnerabilities in the verification process. Some banks may make it too easy for customers to authenticate numbers when adding cards. According to one expert, fraud may account for about 6 percent of Apple Pay transactions, compare to only 0.1 percent of credit card-swiping transactions. Continue reading Apple Pay Mobile Payments Service Experiences Growth in Fraud

As concerns continue to rise regarding credit card theft and data breaches, Visa and MasterCard have separately announced new plans to increase the security of their customer data. The world’s two largest payment networks will expand their cybersecurity measures for online transactions through new tokenization and biometrics verification technologies. The announcements coincide with increased efforts by the federal government and numerous industries to combat future cyberattacks. Continue reading Visa and MasterCard Unveil Features to Combat Cyberattacks