The NFC Forum, a non-profit organization supported by major tech companies, envisions a future where one tap can accomplish multiple actions simultaneously. With a single tap, users could pay for purchases, earn rewards points, and receive digital receipts on their phones. The Forum has released a document outlining the potential uses of this multi-purpose tap technology.

The new multi-purpose tap technology allows NFC devices to read and write data simultaneously. For example, when buying age-restricted items like alcohol, a single tap can verify the buyer’s age, complete the purchase, and send a digital receipt to the buyer’s phone. This eliminates the need for separate age checks and speeds up the transaction process.

The technology also has applications in public transit, where it can ensure correct fares and issue e-tickets automatically. However, the focus remains on integrating age verification to make it more convenient and secure.

Despite its promise, the capability raises privacy concerns. Automating age verification and other processes might lead to increased data collection and targeted marketing. The NFC Forum, which includes tech giants like Apple, Google, and Huawei, is currently in the early stages of development. They are seeking contributions and conducting tests to ensure the technology functions correctly and adheres to privacy standards.

The goal is to define standards that will enable the mass-market delivery of this innovative technology while addressing any potential privacy issues.

Revealing one’s birth year can be a sensitive matter, and many prefer to keep such personal details private. However, WhatsApp will soon require US users to provide their birth year to comply with new age verification laws.

Meta, the parent company of WhatsApp, has not officially confirmed this change, but multiple reports indicate that certain US states have passed laws mandating age verification. These laws aim to restrict minors’ access to explicit material and ensure that children cannot access such content without parental consent.

The new regulations are being implemented more rapidly than expected, primarily in Republican-led states. Various bills are currently under development in different states.

To comply, WhatsApp plans to integrate a feature in its newest beta version that requires users to input their birth year. According to WABetaInfo, this will become a mandatory part of the setup process. The app will also warn users that they cannot change this information later.

Although the exact timeline for this change is unclear, leaked information suggests that Meta will not announce the specific date in advance. This update is necessary for users to comply with state age laws.

Experts believe that only residents of states with these laws or those visiting such states will need to comply immediately. This situation is similar to how certain sites like Pornhub have responded to age verification requirements.

Currently, the states enforcing these laws include Alabama, Idaho, Nebraska, South Carolina, Florida, Oklahoma, South Dakota, Kansas, Tennessee, Indiana, and Georgia.

Mastercard has started testing its Crypto Credential network, aiming to simplify and secure cross-border digital asset transactions between Latin America and Europe.

Launched last year, Mastercard Crypto Credential ensures verified interactions among consumers and businesses using blockchain networks.

During these pilots, users from various countries on the Bit2Me, Lirium, and Mercado Bitcoin exchanges can send both cross-border and domestic transfers across multiple currencies and blockchains.

Instead of using the typically long and complex blockchain addresses, users can now send and receive crypto using their Mastercard Crypto Credential aliases.

For payments, exchanges will first verify users according to Mastercard Crypto Credential standards. Once verified, users receive an alias to facilitate sending and receiving funds across all supported exchanges.

When a user initiates a transfer, Mastercard Crypto Credential checks that the recipient’s alias is valid and that their wallet supports the digital asset and associated blockchain. If the receiving wallet doesn’t support the asset or blockchain, the sender is notified, and the transaction is halted to prevent potential loss of funds.

Mastercard believes this system could greatly benefit the remittance market and plans to extend support to NFTs, ticketing, and other payment options.

Walter Pimenta, EVP, product and engineering, Latin America and the Caribbean, Mastercard, states, “As interest in blockchain and digital assets continues to surge in Latin America and around the world, it is essential to keep delivering trusted and verifiable interactions across public blockchain networks.”

Source: finextra.com