Flex One Payment


#1

Does the fidesmo payment feature work in the us?


Noob question - payment capability - when?
#2

Technically the answer to your stated question is yes, but if you mean with the Flex One (we are still not approved with EMV) or if you mean an approved device (like a watch or wearable powered by Fidesmo) but with an US bank, then no. The only way the “fidesmo payment feature” would work in the US would be if you had a EU bank account with a bank that is already connected to Fidesmo (no US banks are connected at this time) and had a wearable that has been approved by EMV, and traveled here to the US… then yes you could use that device here in the USA.


#3

No, because EMV hates us


#4

They honestly do not… they are afraid everyone else hates us, and in turn, will hate them. The EMV players are true capitalists… they have no issues with selling their moms for spare parts on the black market, but they are afraid if they get caught that will affect their image and cut into their bottom line.


#5

If that’s the case, have you seen any american micro bank cards? I have not been able to find anything.


#6

Unfortunately this seems to be a European thing. I think you’ll have an equally difficult time finding a US bank that even has tap cards to begin with.


#7

Are you saying US banks are afraid of being accused of distributing the mark of the beast!


#8

@amal can you even name any banks integrated with Fidsemo pay outside of the Nordics? Certainly none in the UK are


#9

They are starting close to home and expanding… UK banks are on the roadmap.


#10

I don’t suppose Starling or Amex are on that list?

Either that or Curve (which are an e-money that act as a merchant and acquirer)

Also, is there any chance of a Spark (something injectable) that would support Fidesmo applets as to avoid having to get a large cut in my hand?


#11

Not likely. Secure chips that support java card and are EMV certified are quite large. However, you do not need such a big cut to install a flex. Check this thread where I talk about the needle based flex installation.


#12

Does this mean no leaks for potential U.K. Fidesmo Pay integrations.

I emailed the CEO in English but I didn’t get a reply ;(

Is there a list anywhere of people in the UK with the skill and preferably insurance in case I get screwed somehow to put a Flex inside me, should Fidesmo Pay make it here?

Also EMV is the technology behind chip and pin right, is there any reason why it’s needed for contactless? Is it related to tokenization?


#13

EMV is more of an organization, not a set of standards. In order to be accepted by most payment processors in the US, you need to be in the EMV system.


#14

EMV literally stands for EuroPay MasterCard Visa… it is a consortium of the payment networks that control access to said networks. Banks have no control.


#15

I don’t see it on Amex’s road map.

Funny enough Amex and starling are normally the first to adopt new mobile wallet tech (such as fitbit pay). But I doubt AMEX will want to bother with or are in a position to allow implantable payments, especially in the UK which is almost like a secondary market to them. (For example the gold card is still plastic, the points have less multipliers and the profit for Amex is less due to the EU interchange cap.)

I understand why you’re asking DT about this but this is more Fidesmo’s bit for now. Banks connecting to smart wallets is still considered “hard” for a lot of banks, and unless there’s lot of demand is essentially not worth it to a lot.

For example, until recently the TSB app worked by screen scraping their internet banking page server side.

Its more likely someone like Boon (By WireCard, who issue a tonne of prepaid cards for other companies) will want to connect for now.

Note all the things Boon is connected to:


#16

I agree. The banking and financial industry is so behind on the times. It wasn’t until a year ago that I could activate my debit card online. Up until maybe 2017 or 2018 you had to dial in, press the digits for the card number and all that to actiavte it. Awful system.


#17

Eh, I think Amex can still be viable in the EU.

Ditch the co-branding of cards. Either that or perhaps BA etc will take a small loss to keep customers opening their wallets and seeing them every time.

I assumed that DT would have some form of input in the negotiation of expansion - as it’s with Fidesmo and the bank that would need to integrate with them.

I just switched to TSB for money ;^)

Was this in the EU? For the last 2-3 years we’ve had a better system than this.


#18

This is exactly what is happening at the moment and is why co-branded cards such as the lloyds avios card have dropped off.

If Fidesmo supports something, a DT Fidesmo compatible implant will support it, for that reason there isn’t much negotiation required on DT’s part. It’s a bit like having a android phone with apps, each OEM doesn’t approve or manage every software package. (Or rather, it shouldn’t.) The best way to get change is numbers, and whilst Fidesmo might be on it’s way for UK markets, because of the lack of numbers actively tweeting and requesting it it’ll be lower priority until markets such as fashion markets get on board.

Not all banks have, there are small building societies etc just getting up to scratch. Even some larger banks until recently had or still have archaic systems.


#19

No, that specific instance was US but generally financial institutions are behind everywhere.


#20

This true for applets, but not payment. In the payment scheme, Fidesmo is a facilitator only. We still have to get approval from EMV for our “form factor” (i.e. an implant)… each and every smartwatch or wearable that has payment must also receive separate approval and certification… even if it’s the next generation of the same watch… if it’s “form” is different, it must get approval and certification. Then there’s banks… banks also need to not only connect up with the Fidesmo platform, but they also must want your particular “form factor” to be supported or “active” for that particular bank. I’ve said this before… the technology part is not hard… it’s done already… like so many other things in life, this is quite literally a game of emotional and psychological pitfall… and we keep swinging on a vine over the pit to land right on a snake.