Walletmor

🚀 Did you know, that South Korea embraces walletless trend?

📱 Starting December 2023, customers can now ditch plastic cards and use ATMs via QR codes on their smartphones, eliminating the need for physical cards!

💳 In Q1 2023, 61.23 million plastic cheque cards were issued, down 6.9% YoY, attributed to the rise in convenient payment apps that operate without physical cards. 💻 Fintech companies dominate the convenient payment sector, holding a 66.66% market share in March 2023. 🔐 Activated by passwords or biomarkers, these apps ensure quick, secure access to users' financial information. 🤝 Jointly announced by South Korea's central bank and 17 commercial banks, customers can now access ATMs using a QR code-based method, available on Android smartphones with NFC capabilities.

🚀 Exciting news from Lloyds Bank, not only for teenagers! 📱 Starting December 2023, UK customers applying for a Lloyds Bank account via the mobile app can now streamline their experience with the introduction of 🌐 NFC passport scanning. By simply scanning the embedded NFC chip in their passport, users can swiftly verify their identity and upload crucial personal data, making the account application process smoother.

This innovative feature comes after the launch of the Smart ID app 🆔, allowing users to create and use a digital identity on their Apple or Android devices for various verifications without the need for physical documents. Lloyds aims to enhance efficiency, reduce errors, and simplify data entry by automatically populating fields like name, date of birth, and more directly from the passport.

💳 The Smart ID app is accessible to all UK consumers, offering interoperability with popular digital identity apps. Stay tuned for exciting updates as Lloyds, Yoti, and the Post Office unveil new functionalities for digital ID apps in the coming months 🔮!