FinTech news in iPhone category

The payments giant today announced that it adding passkeys as a log in method for PayPal accounts, allowing iPhone, iPad and Mac users on PayPal.com to sign in without using a password. Users with devices that don’t support passkeys can still tap an iPhone to log in with a PayPal passkey, but they’ll have to scan a QR code that appears after they enter their username. Passkeys are a relatively new industry standard created by the FIDO Alliance and the World Wide Web Consortium — in partnership with Apple, Google and Microsoft — that are designed to replace passwords with bits of data called cryptographic key pairs. The pairs consist of a public key stored in the cloud and a private key stored locally on users’ devices, separated to ensure that a compromised server won’t give an attacker access to account credentials.

Apple launched Apple Pay, which lets customers make payments in stores and online through iPhone, iPad, Apple Watch or Mac, in Malaysia on Tuesday. Currently, Apple Pay is supported for Malaysian customers using Visa and Mastercard cards from banks including AmBank, Maybank and Standard Chartered Bank with support for American Express cards coming later this \[…\]

Oriient, which powers the platform that Instacart shoppers use to gather their orders in hundreds of stores in North America, this week announced that it has raised an $11 million Series A round, which brings its total funding to $16 million. The idea behind Oriient, which currently has 35 employees, is to offer an indoor positioning platform that can work without any dedicated hardware, beacons or Wi-Fi to locate you inside an airport, office, store or anywhere else without access to a GPS signal.

Grover has been on a steady pace of growth in the last several years — CEO and founder Michael Cassau said that across its footprint of Germany, Austria, the Netherlands, Spain and most recently the U.S., Grover doubled subscriptions and business in the last year, and it currently has half a million items in its catalog available for subscription, 2 million registered users and 250,000 active customers.

Apple has announced plans to introduce a new Tap to Pay feature for iPhone that turns the device into a contactless payment terminal. The company says that later this year, U.S. merchants will be able to accept Apple Pay and other contactless payments, including Google Pay, by using an iPhone and a partner-enabled iOS app. \[…\]