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Tag: Code

  • Boosting Transparency and Trust: Singapore FinTech Association Launches Payments Code of Conduct

    Boosting Transparency and Trust: Singapore FinTech Association Launches Payments Code of Conduct

    The Singapore FinTech Association (SFA) has introduced a voluntary code of conduct for payment service providers (PSPs). This sets new industry standards intended to bolster transparency, protect consumers, and build trust within the Singaporean payments sector.

    The Payments Industry Code of Conduct is accessible to a range of organizations. These include holders of major and standard payment institution licenses, money-changing licensees, and exempt payment service providers providing regulated fiat currency payment services in line with Singapore’s Payment Services Act.

    Increasing Transparency and Consumer Protection

    The code sets robust guidelines across several crucial areas, which include pricing transparency, fair advertising, fraud prevention, card dispute liability, data protection, and operational resilience.

    Companies who choose to adhere to the code are obliged to disclose the total cost of transactions upfront. This includes all fees, exchange rates, and mark-ups. The code discourages hidden fees and deceptive “zero-fee” advertising claims, while advocating for robust fraud prevention measures and more robust customer protections.

    Adherence to the code is voluntary and based on self-assessment. Companies who opt to adopt the code can publicly declare their compliance for one year before undergoing a reassessment.

    Enhancing Trust in Digital Payments

    The SFA stated that the code is intended to supplement existing regulatory requirements under the Payment Services Act and the Monetary Authority of Singapore’s regulations, not replace them. As the payments industry evolves, the code will be regularly revised.

    “Payments play a significant role in the daily lives of people in Singapore. Consumers have a right to know exactly how much they are paying and what protections they have,” stated Holly Fang, president of the Singapore FinTech Association. “From an industry perspective, it elevates the level of trust, which is the foundation of successful businesses.”

    According to SK Saraogi, the outgoing co-chair of the SFA Payments Subcommittee and CEO of Wise Asia Pacific, increased pricing transparency will empower consumers to make better-informed decisions. This will also encourage fair competition among payment providers.

    Jeremy Tan, CEO of Liquid Group and co-chair of the SFA Payments Subcommittee, believes this initiative will boost confidence in digital and cross-border payments. It will also solidify Singapore’s status as a global leader in payments and fintech.

    Questions & Answers

    What is the purpose of the Payments Industry Code of Conduct?
    The code aims to bolster transparency, consumer protection and trust within Singapore’s payments sector.

    Who can adhere to this new code of conduct?
    The code is accessible to organizations such as holders of major and standard payment institution licenses, money-changing licensees, and exempt payment service providers operating under Singapore’s Payment Services Act.

    What does the code mandate for participating companies?
    The code requires these companies to disclose all transaction costs upfront, discourage hidden fees and deceptive advertising claims, and promote robust fraud prevention measures and more robust consumer protections.

  • Google Messages Ends QR Code Pairing: What it Means for Your Web Setup

    Google Messages Ends QR Code Pairing: What it Means for Your Web Setup

    Google Messages is set to eliminate its QR code pairing feature for the web, opting instead for Google Account log-in as the sole method of access. The change will enhance the stability and functionality of the Google Messages for Web feature.

    Google Messages: An Evolution

    Google Messages for Web is a popular and convenient feature, allowing users to send and receive texts from their computers, thus eliminating the need to constantly check their phones. Up till now, the feature offered two ways to connect to a computer: scanning a QR code with a phone or logging in through a Google Account.

    The QR code method, which has been part of the feature since its launch, is quite straightforward. Users open the app and scan the QR code displayed on their computer screens. This method requires neither passwords nor accounts, simplifying the connection process.

    A Shift in The Connection Process

    However, Google has decided that the QR code pairing method is insufficient and will cease to be an option. Instead, Google Account log-in will become the only way to access the Messages feature on the web.

    While this change may seem like a minor adjustment, its impact is significant. When a Messages session is linked to a Google Account rather than just a phone, the connection becomes more stable. Currently, if a phone loses signal or restarts, the web session can be disrupted. However, account-based sessions are more resilient to these problems.

    Fostering Device-to-Device Continuity

    This modification aligns with Google’s recent focus on strengthening its apps around the Google Account. The tech giant is striving to achieve the seamless, device-to-device continuity Apple has enjoyed with iMessage for years. This shift in Google Messages for Web brings the feature closer to this goal, transforming it from a remote display for a phone into an independent application.

    Questions & Answers

    What is the main change announced for Google Messages for Web?
    Google has decided to remove the option to access Google Messages for Web via QR code, shifting to Google Account log-in as the sole method of access.

    How does this change affect the stability of the Messages feature?
    When a Messages session is linked to a Google Account rather than a phone, the connection becomes more stable and resilient to disruptions like signal loss or phone restarts.

    What is the broader strategy behind this change?
    This change aligns with Google’s efforts to foster seamless, device-to-device continuity across its applications, similar to what Apple offers with iMessage.

  • ACCC finds Brownes Dairy in breach of Dairy Code

    ACCC finds Brownes Dairy in breach of Dairy Code

    Brownes Dairy has been penalised $22,200 by the ACCC over two breaches of the Dairy Code of Conduct last year. Last year, the WA dairy producer published two standard form milk supply agreements on its website which failed to specify key terms such as a definite end date of the supply period, and allowing the company to unilaterally vary the terms of the agreement.

    “It is critical that processors take active steps to ensure compliance with the Dairy Code so that farmers have the certainty and transparency in relation to milk supply agreements that the Code is intended to provide,” said ACCC deputy chair Mick Keogh.

    “One of the requirements of the Dairy Code is that processors ensure their milk supply agreements are compliant before publishing them on their websites, and in this instance, Brownes Dairy published two supply agreements that were allegedly non-compliant with the code.”

    Under the code, most dairy processors are required to publish on their websites, every June 1 a standard-form milk-supply agreement to cover all the circumstances in which they intend to purchase milk in the coming financial year. This allows farmers to compare processors’ minimum prices and contract terms.

    According to a statement from the ACCC, Brownes Dairy addressed its breaches in the 2021-22 agreements published last month and has undertaken to write to farmers that it had contracts with, advising that it will only exercise its rights under existing agreements to the extent they are consistent with the terms of these new agreements.

    “Ensuring compliance with the Dairy Code remains an ACCC priority. We are continuing to assess agreements published on June 1 this year, and any identified breaches may result in the ACCC taking enforcement action where appropriate,” said Keogh.

  • GS25 opens futuristic c-store concept

    GS25 opens futuristic c-store concept

    South Korean convenience-store chain GS25, owned by GS Retail, has opened a futuristic convenience store without a checkout counter in Jung District, Seoul this week.

    The store, which is located in the headquarters building of a local credit card company BC Card, is similar to Amazon Go, checkout-free offline malls in the US.

    One can enter the convenience store by scanning a BC Paybook QR code from BC Card’s mobile payment app at the speed gate.

    When customers enter the store, 34 ‘deep-learning cameras’ will recognise their behaviour. In addition, some 300 weight sensors installed throughout the store detects the number of items that customers choose.

    When a customer chooses their purchases and exit the speed gate, all the items will be automatically paid for through a payment system using artificial intelligence (AI) technology, and a mobile receipt will be issued.

    A video-recognition speaker is also installed, where a pre-set voice will guide the customers through speakers. If customers are standing at some point or do a particular action, the speaker will provide assistance.

    In the future, the company will gradually introduce technologies that guide customers to promotions when they approach a presentation product stand.

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  • Singapore Airlines, Silkair and Vistara to expand codesharing to international flights

    Singapore Airlines, Silkair and Vistara to expand codesharing to international flights

    Passengers traveling with Singapore Airlines (SIA), Silkair and Vistara will have more international flight options as the Singaporean flag carrier and its regional arm, Silkair, signed an agreement with Indian carrier Vistara to expand codesharing to international routes.

    Under the expansion of an existing codeshare agreement which covers Indian domestic flights, SIA and Silkair will add nine new codeshare destinations within India on Vistara-operated flights. The following destinations will be added: Chandigarh, Dibrugarh, Jammu, Leh, Pune, Raipur, Ranchi, Siliguri and Srinagar. SIA will add its ‘SQ’ designator code to Vistara’s new international flights.

    Vistara will add its ’UK’ designator code to SIA and Silkair-operated flights between Singapore and eight destinations in India, including Ahmedabad, Bengaluru, Chennai, Cochin, Hyderabad, Kolkata, Mumbai and New Delhi. As part of the arrangement, Vistara will codeshare on services to more than 40 destinations from Singapore to Australia, New Zealand, Cambodia, Indonesia, Malaysia, Vietnam, Thailand, Taiwan, Japan and the US.

    “These codeshares will be implemented in phases and are subject to regulatory approvals,” reads a press release from the airline.

    “We’re happy to deepen this strategic partnership which means a more seamless flying experience for travelers from India to destinations across Asia, Oceania and the United States,” said Vistara’s chief strategy officer Vinod Kannan.

    The codeshare flights will progressively be made available through SIA and Vistara booking channels once necessary regulatory approvals are obtained, according to the airline.

    Vistara is a joint venture between Singapore Airlines (SIA) and Indian company Tata Sons. It will begin its first international flights by offering daily flights to Singapore from Delhi and Mumbai operated by a Boeing 737-800NG aircraft, starting 6 and 7 August respectively.

    Earlier this year, Vistara signed a codeshare agreement with United Airlines. This agreement expanded the US carrier’s network to over 20 destinations throughout India. Over the past two years, Vistara has also signed codeshare deals with Japan Airlines, British Airways, as well as Singapore Airlines and Silk Air.

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  • Hidden code reveals that Xiaomi could be first to use this sensor on a phone

    Hidden code reveals that Xiaomi could be first to use this sensor on a phone

    Remember when you walked around, feeling like the King of the neighborhood because your Samsung Behold had a 5MP camera on back? While a bigger megapixel count doesn’t necessarily translate to better pictures, today we have phones like the OnePlus 7 Pro carrying around a 48MP primary sensor. And if XDA is right, Xiaomi will be the first to release a phone with a 64MP camera sensor on the back.

    Strings of code that XDA discovered on the latest version of the MIUI 10 Camera app make references to a 64MP “ultra-pixel” mode. They also allude to a 64MP Dual Camera. Right now, Samsung has the only 64MP sensor announced. That would be the ISOCELL Bright GW1 sensor with a small pixel size of 0.8μm. Samsung unveiled the sensor last month noting that under bright lighting conditions it can produce 64MP photos. When lighting conditions are not as favorable, the sensor merges four pixels into one to create a better quality 16MP image. The GW1 sensor will record video in 1080p (FHD) at 480fps allowing it to support “smooth cinematic slow-motion videos.” Samsung’s sensor also supports real-time high dynamic range (HDR) of up to 100-decibels (dB). That compares to the 60 decibels found on many handsets and the human eye’s 120 decibels.

    The code discovered by XDA dovetails with a leak from tipster Ice Universe who posted on Weibo a few days ago about a “mysterious” Redmi model (made by Xiaomi) that will be the first to use Sammy’s 64MP sensor. While the upcoming Galaxy Note 10 series will not feature it, we could see the 64MP GW1 sensor also employed on the upcoming Galaxy A70 mid-range handset.

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  • QR-code payments could dominate mobile payments

    QR-code payments could dominate mobile payments

    QR-code payments have the potential to replace any other form of mobile payment according to new research.

    More than 1000 Chinese consumers and 60 decision-makers from global merchant companies were surveyed by mobile payments specialist Cancan and financial research company Kapronasia for the first global study covering the impact of Asian mobile POS payments worldwide.

    “Alipay and WeChat Pay, both based on QR code technology, are already dwarfing their Western counterparts tenfold with 750 million active users between them,” says Cancan MD Candice Koo.

    She says global merchants need to meet shoppers’ expectations regarding mobile payments. “Today that consumer is predominantly Chinese, but in year we could also be looking at Indians, Indonesians, Japanese and Koreans, who are already all following the Chinese trajectory.”

    “The rapid adoption of mobile payments by Chinese consumers domestically is well known, but not as much how they are using them abroad,” says Kapronasia director Zennon Kapron.

    The 2017 Mobile Payment Survey: Chinese Consumers Abroad investigates how mobile payments methods such as Alipay and WeChat Pay are shaping Chinese consumer expectations toward shopping outside of China. It also investigates global merchant preparation for this phenomenon.

    Key findings include:

    • Mainland Chinese consumers expect to spend more with mobile payments this year and next when travelling abroad, overriding the use of cash or credit cards
    • Nearly half of the consumers surveyed made between 10 and 30 per cent of their overseas shopping purchases with QR-code mobile payment methods; one-third paid for more than half their purchases in China with mobile
    • Fashion and cosmetics/skincare products are the categories most likely to attract mobile payment purchases
    • Consumers chose mobile payments for transaction convenience and the ability to track purchases in real time; they also appreciate not needing to carry cash and credit cards while travelling
    • More than a third of merchants who accept mobile payments say this payment method contributes to at least 3 per cent of their global sales, with some merchants experiencing a share as high as 25 per cent.

    The report says customer demand is driving merchant adoption of mobile payments, while merchants are attracted by the speed of mobile-payment transactions.

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  • Standardized payment QR code to launch in Thailand

    Standardized payment QR code to launch in Thailand

    Top payment card companies Mastercard, UnionPay International and Visa have jointly introduced a standardized QR code for mobile payments in Thailand.

    The new standardized code allows merchants to easily accept electronic payments without the need to invest in physical point-of-sale machines. They need only have a piece of paper with their unique QR code for consumers to scan.

    Customers with a Mastercard, UnionPay, or Visa card can use a mobile application to scan the code using both smartphones and feature phones with a camera function.

    In future, the standards are intended to be globally interoperable and useable anywhere they have been expected.

    The standardized code is expected to be implemented by banks and merchants across Thailand by the third quarter.

    The initiative also meshes with the Thai financial sector’s Electronic Data Capture (EDC) expansion initiatives under the government’s National e-Payment Roadmap, which aims to support the nation’s transition to a cashless society.

    The launch of the Standardized QR Code signals exciting times for Thailand as consumers move quickly to adopt new payments technology,” Mastercard country manager for Thailand Donald Ong said.

    “Our own research, for example, shows that 50% of young consumers across South East Asia would use the QR code straightaway, and we believe this reflects the demand in Thailand.”

  • Huawei achieves 27Gbps 5G speeds with Polar Code

    Huawei achieves 27Gbps 5G speeds with Polar Code

    Huawei announced it has achieved downlink speeds of 27Gbps using Polar Code, a new innovation in 5G channel coding technology.

    During a field trial in both static and mobile environments, Huawei was able to demonstrate that polar code technology can simultaneously meet the typical use cases of the ITU’s 5G definition, which involves speeds in the tens of gigabits, 1ms latency and billions of connections.

    The company said polar code demonstrated three times the spectrum efficiency compared to current RAN networks.

    Polar code is designed to allow significantly higher spectrum efficiency than current cellular access technologies and to enable decoding with linear complexity.

    On the encoding side, polar code can optimize channel capacity close to the Shannon Limit, the theoretical highest capacity of a communications channel before noise introduces faults.

    The field trial also took into account the use of millimeter-wave and multiple parallel sessions based on short and large packet sizes.

    Last week Huawei and Canada’s Telus also announced the results of 5G lab trialsachieving peak speeds of 29.3Gbps, close to 200 times faster than the current LTE standard. The trials at the Telus and Huawei 5G Living Lab in Vancouver were designed to simulate real-world conditions.