Prepaid Cards Play Key Role in New Contactless Transit-Payment Systems
When upgraded public transit fare-payment systems went live recently in Chicago and Salt Lake City, contactless payment transactions soared into the millions.
Mobile
MasterCard Acquires M-Payments Partner C-SAM, Launches In-App Payments (Feb. 24, 2014)
MasterCard has entered into an agreement to acquire Chicago-based mobile payment technology provider C-SAM.
Amazon Coins Expand to All Android Devices (Feb. 24, 2014)
Amazon has announced that customers in the U.S., U.K. and Germany now can use the e-retail giant’s Amazon Coins in-app currency on all Android-based smartphones and tablets.
Millicom debuts Rwanda and Tanzania mobile currency conversion
Luxembourg telecoms company Millicom has launched an African cross-border mobile payments service in Rwanda and Tanzania, which it claims is the first to automatically include currency conversion.
Raincoats, taxis and the future of banking
What do taxis, the weather, mobile wallets and raincoats have in common? They are all potential variables in determining a person’s daily spend – and they provide a great opportunity for banks to use data to save customers money, according to Aman Narain, global head of digital banking Singapore at Standard Chartered.
Google Nabs Audio Authentication Startup (Feb. 20, 2014)
Google has acquired Israeli startup SlickLogin, which has developed technology that uses high-frequency sound waves to authenticate user identity when logging into Websites.
Blog: From Atoms to Bits: The Digital Age of Money
As we move to digitize everything, the transition to digital wallets hasn’t been an easy feat. O2 recently announced it would discontinue its mobile wallet and despite efforts by industry heavyweights, mass adoption of a digital/mobile wallet still is proving elusive.
Visa and MasterCard Green-Light HCE, Giving Banks and Merchants New NFC Options (Feb. 19, 2014)
Visa and MasterCard today announced plans to support Host Card Emulation, which enables storage of card credentials in the cloud, rather than using the secure element embedded in handsets, a move observers say could reignite prospects for NFC.
Orange Cash Expands to Spain (Feb. 19, 2014)
Mobile network operator Orange is launching its Paybefore Award-winning Orange Cash prepaid MasterCard in Spain.
U.S. Bancorp, Monitise Unveil Digital Watermark-Based Mobile Shopping Platform (Feb. 18, 2014)
U.S. Bancorp and U.K.-based Monitise plc have partnered to launch a white-label mobile commerce platform dubbed Peri.
RBI Report Outlines Technology for Banks, Telcos to Develop Mobile Banking (Feb. 18, 2014)
The Reserve Bank of India continues to encourage development of mobile banking across its nation, where 870 million consumers have a mobile handset but fewer than half of those have bank accounts.
Etrali rolls out mobile voice recording to Japanese market
Etrali Trading Solutions has rolled out its mobile voice recording service in Japan, allowing financial institutions to meet FSA regulations in the country. Etrali’s solution is SIM-based, and is already being used in Europe and the US.
Cashing out: Ontario mobile payment infrastructure is on the money
Canadians are in a hurry to get rid of their cash – at least as a method of payment, nor are they content with the contactless tap-and-go cards currently in use; they are anxious to replace cards with contactless smartphone technology, writes Aaron Rosland, senior economic counsellor for the Government of Ontario, Canada.
Amazon Goes with ‘Flow’ to Challenge Brick-and-Mortar Retailers (Feb. 13, 2014)
Amazon this month updated its iOS shopping app with a new feature called Flow, which could add rocket fuel to the “showrooming” phenomenon already affecting brick-and-mortar retailers.
MasterPass Says ‘Hola’ to Spain (Feb. 13, 2014)
MasterCard has launched its MasterPass online shopping service in Spain, the payment card network said this week.
MCX Adds Platform Provider Paydiant and Burger Chain Wendy’s (Feb. 13, 2014)
Merchant Customer Exchange (MCX), the Coppell, Texas-based, retailer-led mobile payment consortium founded in 2012, is adding Paydiant’s cloud-based platform to its mobile commerce infrastructure.
Orange and Visa Europe launch Orange mobile wallet in France
Orange and Visa Europe have launched a new mobile wallet service called Orange cash in the French cities of Caen and Strasbourg, making Orange the first mobile network operator in France to offer mobile contactless payments to its customers.
Payza Looks to Grow Global Reach with New Enterprise Service (Feb. 11, 2014)
Online payment provider Payza has begun offering its platform directly to money service companies, officially launching its strategic partnership phase, first announced at the end of 2013.
Vodafone Adds MoneyGram Network for M-Pesa Remittances (Feb. 11, 2014)
Vodafone has inked a deal with MoneyGram that will enable anyone to send funds via MoneyGram’s 334,000 agents worldwide to users of Vodafone’s popular M-Pesa mobile payment service.
PayNearMe Expands Footprint with Family Dollar Deal, Raises $20 Million (Feb. 10, 2014)
Hot on the heels of a fresh infusion of capital, PayNearMe, a Sunnyvale, Calif.-based cash transaction network, last week announced a deal with Family Dollar, enabling consumers to use cash for online purchases, payments toward loans and rent, among other transactions, at the discount retailer’s more than 8,000 locations.
Bangkok Bank invests in mobile banking and payments
Thailand’s Bangkok Bank has installed a new mobile banking and payments platform built by technology company Fiserv, which it says will give customers better security and the bank a stronger presence on mobile devices.
Mobile vulnerabilities require banking apps rethink
Concerns are emerging over the failure of some mobile banking providers to address security risks. According to a recent review of 40 home banking apps from the world’s top 60 banks, nine out of ten apps had serious security vulnerabilities.
Isis Touts Progress as Wells Fargo Dangles 20 Percent-Off Promo (Feb. 6, 2014)
Isis, the NFC-based mobile payment initiative backed by the nation’s major wireless carriers, has hit a few key milestones recently that will go a long way toward building the scale vital to the effort’s success.
Weve, MasterCard Partner in U.K. to Push NFC Mobile Payments Forward (Feb. 6, 2014)
MasterCard has joined forces with Weve, the mobile payments joint venture from the U.K.’s three largest mobile telecom providers, to accelerate adoption of NFC mobile payments.
Blog: The Top Four Mobile Musts in 2014
From smartwatches to voice-recognition capabilities, 2014 promises to be mobile’s best year yet. And these and other mobile trends will influence payments and financial services innovation.
Cannabis Sales Set To Go Mobile (Feb. 5, 2014)
SinglePoint Inc. has developed Mobile Cannabis Currency, a mobile payment system branded for the cannabis and medical marijuana industry, enabling merchants to accept credit card payments using their mobile phones.
Australian Investment Firm Bets Big on Mint Wireless (Feb. 4, 2014)
Australia is lighting up as the next hotbed of m-POS activity as Mint Wireless makes key moves to target a fast-growing base of small businesses going mobile and Square Inc. reportedly is considering expansion Down Under.
Monitise targets Turkish mobile money
Mobile money firm Monitise has acquired Pozitron Yazilim, an Istanbul-based mobile technology specialist, in a £24 million all-shares deal that highlights the growing demand for mobile financial services in the eastern Mediterranean’s largest market.
RBC Launches Facebook-based P2P Service for iPhone (Feb. 3, 2014)
Could Royal Bank of Canada (RBC) make a breakthrough with P2P by making it a cinch to send funds to Facebook friends?
Latest Monitise Acquisition Accelerates Mobile Money Capabilities (Feb. 3, 2014)
Monitise plc has acquired Pozitron Yazilim A.S., an Istanbul-based, privately owned mobile technology company.
U.S. Bank Testing Voice-Based Biometrics for Mobile Financial Services (Jan. 30, 2014)
U.S. Bank is testing a voice-based biometrics mobile banking feature that could foreshadow the future of mobile payments if consumers warm up to it, Dominic Venturo, chief innovation officer at U.S. Bank, told attendees today at the Card Innovation Summit in Tempe, Ariz.
European Department Store Giant Goes Contactless (Jan. 28, 2014)
Madrid-based El Corte Inglés, Europe’s largest department store chain, this year plans to upgrade the majority of its POS terminals to accept contactless payments from NFC-enabled cards and handsets.
WSJ: Apple Laying Groundwork for Mobile Payments Platform (Jan. 27, 2014)
Apple Inc. is making plans to launch a mobile wallet service for its iPhone, iPad and iTunes users, according to a Jan. 24 Wall Street Journal report.
T-Mobile Enters Prepaid to Serve Unbanked Customers, Increase Stickiness (Jan. 23, 2014)
T-Mobile USA Inc. this week became the first major U.S. mobile carrier to enter the GPR prepaid arena with Mobile Money by T-Mobile, a new smartphone application and accompanying Visa prepaid card.
Report: New Case to Give iPhone Users Access to NFC, Isis (Jan. 23, 2014)
With the Isis mobile wallet now live across the U.S., iPhone users remain unable to use the wallet to make contactless in-store purchases due to the handset’s lack of NFC capability.
Toyota to Offer Mobile Car Payments through Pingit (Jan. 23, 2014)
Toyota owners in the U.K. can make car payments via mobile device, now that the automaker has signed on with the Barclays Pingit mobile payment app.
Mobile Solutions Can Assist Underbanked Consumers
According to a report from the Federal Reserve Bank of Boston, innovative mobile banking features can help underserved consumers obtain safe, secure and convenient options that foster financial inclusion.
Visa’s V.me Nears Full Commercial Rollout, Adding Countries and Merchants
As the push to minimize steps for consumers inputting card data when making online and mobile purchases gathers steam, competition among digital wallets is intensifying.
Five Minutes with First Data
Paybefore chats with First Data’s Ben Love to get some insight into the company’s recent moves, as well as the future of payments.
As Customers Move to Mobile, BofA to Shutter More Branches (Jan. 16, 2014)
Bank of America may close up to 150 branches by the end of the year as the bank’s heavy investment into mobile banking continues to bear fruit, the company said.
