Weve, the mobile payments joint venture from mobile operators Vodafone UK, Telefónica UK’s O2 and EE, has abandoned plans to develop its own mobile wallet product after the U.K.’s three largest mobile telecom providers failed to agree on how to run the wallet.
Despite the significant challenges faced by the UK’s banking sector over the last decade, there has been a dramatic evolution in the customer experience following the introduction of online, telephone and mobile banking. While the branch remains an important channel, especially for older customers, mobile technology is rapidly redefining how customers interact with their banks.
Apple may have lined up the chief executives of Bank of America and JP Morgan Chase to laud the launch of Apple Pay, but reaction from the wider industry was more muted – disappointed, even.
Numerous payments providers, financial institutions and merchants have thrown their support behind Apple Inc.’s new Apple Pay service—and if the tidal wave of early backing is any indication, the Apple and iPhone brands already may have overcome one of the most vexing issues hindering mobile wallet adoption—lack of widespread support by stakeholders in the value chain.
Visa Inc. has launched Visa Token Service to provide more security for e-commerce transactions, including online and mobile, by replacing payment account information with a digital account number, or token, which can be stored safely by online merchants or on mobile devices.
MasterCard has given European merchants accepting MasterCard and Maestro a deadline of no later than 2020 to update their POS systems so consumers will be able to tap to pay with their contactless cards and NFC-enabled devices at all POS terminals throughout the continent.
Quick Tap, the U.K.’s first NFC-based mobile payment app, will go down as a casualty of the speed of change in mobile payments technology when it folds next month, and it likely won’t be the last.
Telecoms company Millicom has stepped up its push to gain ground for its mobile money service in the Tanzania as competition heats up between operators in the region
Twitter is testing a “buy” button that merchants embed in their tweets.
Online payments and digital wallet provider Skrill USA Inc. has launched a mobile app enabling its U.S. customers to manage their digital wallets more conveniently and to send and receive payments, whether they are paying for goods and services or transacting on gaming sites.
Apple’s new iPhone 6 to be announced tomorrow is almost certain to shake things up in the fledgling mobile wallets ecosystem, with an NFC-based mobile wallet that will debut with the support of major retailers, payments networks and banks.
With the penetration of mobile devices, such as smartphones and tablets constantly growing, attention is increasingly turning to mobile marketing, mobile commerce and mobile payments. It is still the case, however, that these trends are largely played out in specialised media, and do not influence the actual behaviour of consumers. This is especially true for mobile payments, with consumers very sceptical about this concept
Blackhawk Network has integrated its gifting platform with Google Wallet, enabling wallet users to manage and spend gift cards on their mobile devices.
Merchant Customer Exchange (MCX), the retailer-led mobile payments consortium formed in 2012, has unveiled the name of its new mobile payment network.
Isis Wallet is now Softcard. The NFC-based mobile payment initiative backed by AT&T Mobility, Verizon Wireless and T-Mobile, was snakebit earlier this year when a jihadist militant group adopted the name Islamic State of Iraq and Syria and the acronym ISIS.
The startup behind three little letters that could be a very big deal in contactless payments.
Apple Inc.’s next iPhone reportedly will include mobile wallet functionality—as has been rumored for some time.
Visa Inc. has added top acquirers and e-commerce platform providers for its Visa Checkout service, expanding the service’s reach by nearly 4 million online merchants, according to the payments network.
U.K.-based Monitise and technology and consulting giant IBM have announced an alliance they say will improve IBM’s ability to deliver existing and future Monitise-based Mobile Money solutions to clients. The deal also will significantly increase Monitise’s ability to handle larger custom projects worldwide by combining the companies’ mobile banking, payments and e-commerce technology.
A new app-based social network that uses gamification concepts to train traders and help them to hone their skills has been launched by a former Deutsche Bank trader.
Ready for the battle of the bank-branded digital wallets? New York-based Citi this week introduced Citi Wallet, to streamline online shopping for credit card customers.
More than 85 percent of approved checks sent over the Ingo Money platform, accounting for more than 90 percent of the platform’s total check value, now are funded to customer accounts and available to spend within minutes, according to Ingo Inc., the Georgia-based electronic funding specialist that operates Ingo Money.
Western Union has expanded its account-to-account money transfer service to cover Austria, Belgium, Germany, the Netherlands and the United Kingdom.
PayPal and Braintree, which is part of PayPal’s business unit, are rolling out the One Touch mobile payment solution, which will enable consumers to make purchases on their mobile devices from PayPal merchants with one touch of the screen, rather than entering user IDs, passwords and payment card information.
Global Payout Inc., an electronic payment and prepaid solutions provider, today announced plans to acquire Maxie Mobile LLC, a global mobile payments provider focused on the underserved.
European mPOS provider SumUp has landed a new investment of more than $10 million to expand operations, including propelling adoption of its recently launched chip and PIN card reader.
Details of Apple Inc.’s mobile wallet plans continue to trickle out, with the latest clue found in a patent filing that illustrates a QR code. Published late last month, the application describes a parental control system that would enable parents to control payment authorization on their children’s mobile devices.
Heartland Payment Systems has acquired Leaf, creator of an mPOS tablet, a deal the payments processor said demonstrates its commitment to providing resources and support for small- to medium-sized businesses.
Host card emulation (HCE) unlocks the potential for NFC to expand mobile payments by making them more convenient and consumer-friendly, but developers must proceed with caution because of various security risks HCE poses, according to a new white paper from the Smart Card Alliance.
By Loraine DeBonis, Editor-in-Chief Options are exploding for prepaid cardholders with swipe, no-cost and mobile reloads making it easier than ever to spin cash into digital gold. Turning cash into an electronic form of payment is undergoing a bit of a renewal. With mobile deposit, unprecedented partnerships, free options and new uses for reload networks—from […]
There’s a new player in the mPOS arena—and it’s a heavyweight.
Financial institutions looking to attract and retain small business customers can do so by beefing up their digital banking services, according to a new white paper from Fiserv.
FinCEN is urging financial institutions to foster a culture of compliance with Bank Secrecy Act/Anti-Money Laundering (BSA/AML) rules and has issued an advisory explaining how basic principles can strengthen compliance within organizations.
It isn’t just complaints about prepaid card products that the CFPB is trawling for.
The U.S. Postal Service (USPS) on Aug. 11 posted a net loss of $2 billion for the quarter ended June 30, 2014, compared with a net loss of $740 million for the same period a year ago, increasing pressure on the beleaguered organization to find new sources of revenue.
MasterCard and First Data Corp. today announced a partnership to extend MasterCard’s inControl product for managing card spending to First Data’s customers in Asia Pacific, to enhance their growing use of payments cards for e-commerce purchases.
PayPal Inc.’s recent rebranding of its Bill Me Later service is part of an effort to bring credit more to the forefront of its business and continue its expansion into offline payments, according to the company.
Rumors of Twitter’s imminent entry into e-commerce got more fuel last week, when some users of the company’s Android app noticed a new “Payment & Shipping” option.
Capitalizing on its recent high-profile moves in the mobile banking space, Cachet Financial Solutions netted nearly $6 million in its Initial Public Offering last month.
Many mobile apps used for shopping don’t provide consumers with enough information before they download them to their smartphones, according to the FTC.
