Mobile


Fill ’Er Up: Samsung Pay Is Now Good at ExxonMobil Stations

Samsung Pay took another stride this week, with ExxonMobil announcing that its customers can now use the mobile wallet at the pump to pay for gas. This expansion comes only months after Samsung launched a points-based rewards program for Samsung Pay.

China’s CredEX Fintech lending app surges past $4.3bn mark

China-based CredEX Fintech says its mobile lending app’s total credit extended has exceeded CNY 30 billion ($4.3 billion) since its launch ten months ago. According to the firm, its user base has gone beyond five million, daily credit has been extended up to CNY 100 million ($14.4 million), and the average credit extended stands at […]

Do collect $200 on Android, don’t get out of Gmail

Google has revealed that Android payments can now be made within the Gmail app. Whether it is “splitting a dinner bill or planning a group trip”, it offers a “fee-free way” to work out the details and settle up without leaving the Gmail app on Android. Users can exchange money with “anyone” – and are […]

Analysis: banking innovation in the US

Banking Technology puts the banking innovation in the US under the spotlight. The market is not short of digital offerings: Simple, Moven, Kabbage, Acorns, Earny, Debitize, MagnifyMoney and more – take your pick!

Commercial Bank of Africa goes Loop-y for millennial entrepreneurs

Kenya-based Commercial Bank of Africa (CBA) has unveiled its mobile-based banking service as it targets millennial entrepreneurs. The new service, created in collaboration with software provider Strands, is called CBA Loop and core banking services will be available on the mobile phone app. Users can manage their personal finances, send money, schedule utility bills payments, […]

Cachet Prices Public Offering, Looks toward a $9.3 Million Payday

Cachet Financial Solutions expects to raise nearly $9.3 million in its public offering this week, according to an SEC filing. The Minneapolis-based financial technology provider and Pay Award winner, which priced its offering at $4.50 per share, plans to use the proceeds for working capital, to pay down debt and other, unspecified purposes.

Barclaycard gets Uber momentum

Barclaycard and Uber have agreed a new commercial agreement that will see Barclaycard customers get “exclusive offers” when they use their personal card to pay for their Uber rides. The deal means Barclaycard’s personal credit card customers can get a free Uber ride, up to the value of £15, for every ten that they take […]

Chase Pay Acquires MCX Mobile Payments Technology

Another bell has tolled for the mobile payment service operated by the nearly 3-year-old MCX, a consortium of large retailers. JPMorgan Chase, whose own Chase Pay mobile wallet has been making serious strides, has acquired the technology that underpins CurrentC, the MCX mobile payment product that never went beyond pilot stage.

Acquisitions Drive Record Start for Meta’s Tax Business

Meta Financial Group’s heavy investment in the tax refund space is paying dividends, with the company’s MetaBank subsidiary originating a record $1.26 billion in interest-free tax advance loans between Dec. 12, 2016, and Feb. 28, 2017—up from less than $100 million in advance loans during last year’s tax season, according to the parent company.

The Monday mindset: 13 March 2017

Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week we welcome the views of our editor, Tanya Andreasyan, as she gives us the lowdown on going digital.

JPMorgan Chase acquires MCX payments technology

The technology behind CurrentC, the QR-based mobile payment service created by MCX, a consortium of the largest merchants in the US, has been acquired by JPMorgan Chase. The bank says it will help expand Chase Pay, the mobile and digital wallet for Chase customers.

Flagship Community Bank buys BankMobile for $175m

Florida-based Flagship Community Bank has bought mobile-only BankMobile from Customers Bancorp for $175 million. As Banking Technology reported last month, BankMobile, which was launched by Customers Bancorp two years ago, was expected to be sold this quarter, according to Customers’ president and CEO, Jay Sidhu. Customers Bancorp says after accounting for all expenses, the deal […]

Android Pay heads down Belgium way

Android Pay is now available in Belgium – becoming the tenth country in the world to get it. It can be used at more than 85,000 retail locations throughout Belgium that accept contactless payments. Its purchase button can also be seen in apps like Deliveroo, TransferWise and Vueling, with other unspecified apps on the way. […]

Abu Dhabi, Singapore to Promote Fintech Innovation

The Monetary Authority of Singapore (MAS) and Abu Dhabi Global Market (ADGM) have signed an agreement to assist fintech entrepreneurs and support financial services innovation in Singapore and Abu Dhabi, according to Paybefore sister publication Banking Technology.

Seconds out for Monzo tech

Mobile-only challenger bank Monzo has been hit by tech issues for the second time this week. As Banking Technology reported on 6 March, payment outages caused major problems to cardholders and fintech services provides in the UK and internationally – and Monzo was one of the affected firms reporting issues with their payment processor. Today […]

Mobile wallet users want more incentives, new study says

Payments pundits for years have been saying consumers need incentives to use mobile wallets, and a new survey report from Auriemma Consulting Group has numbers to back up the claim. Paybefore (Banking Technology‘s sister publication) reports that a survey of 1,505 consumers found that 25% of those who have an eligible smartphone use mobile pay services.Those […]

Will 2017 be the year financial services improve their UX?

2016 has been a big year for user experience (UX). The web, as a whole, became easier to use, apps became more intuitive, and services became a lot more engaging and purposeful. But could the same be said for financial services? Perhaps…

Emerging payments hot topic on social media, Mastercard study finds

Consumers are expressing interest in and enthusiasm for emerging payment methods in their social media conversations, according to a new Mastercard report. Paybefore (Banking Technology‘s sister publication) reports that Mastercard’s fifth annual Digital Payments Study analysed more than 3.5 million public interactions in 2016 between consumers on social media channels – including Facebook, Instagram and Twitter […]

Dwolla seeks more dollars with repackaged services

Capping an approximately 18-month effort to pivot into a software-as-service platform for businesses, US payments firm Dwolla has repackaged some of its services into a pair of products and pricing structures. The company’s clients now can use Dwolla technology to enable same-day ACH capabilities or to move funds between bank accounts without having to do […]

Wirecard brings mobile payment app boon to Apple Pay in Ireland

Wirecard has launched its mobile payment app boon with Apple Pay in Ireland – and the app is “independent from any bank or telecom operator”. After the initial launch to the UK, France and Switzerland, Ireland is the fourth market where people can use boon with Apple Pay. Georg von Waldenfels, EVP consumer solutions with […]

Emerging Payments a Hot Topic on Social Media, Study Finds

Consumers are expressing interest in and enthusiasm for emerging payment methods in their social media conversations, according to a new report. Mastercard’s fifth annual Digital Payments Study analyzed more than 3.5 million public interactions in 2016 between consumers on social media channels—including Facebook, Instagram and Twitter—to glean insight about consumer attitudes toward new payment technologies worldwide.

The Monday mindset: 6 March 2017

Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week we welcome the views of guest writer Soumik Roy as he gives us the lowdown on electronic payments in India. India’s Prime Minister […]

Hellenic Bank to launch open APIs

Cyprus-based Hellenic Bank is readying the first project by its recently unveiled innovation lab – open application programming interfaces (APIs).

Banking Technology March 2017 issue out now

The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.

Bots and biometrics: The Mobile World Congress shows the future of payments

Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media, reports Paybefore (Banking Technology‘s sister publication). Payment bots […]

Bots and Biometrics: The Mobile World Congress Shows the Future of Payments

Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media.

Silvergate Bank overhauls front-to-back office tech with FIS

California’s Silvergate Bank has implemented a suite of systems from FIS in a major tech overhaul – from a new core banking system to branch, digital and mobile banking, compliance and risk. The new core banking platform – FIS’s Horizon – will let the bank “streamline” its third party systems, such as account opening and […]

Mastercard and Getir power payments bot for Facebook Messenger

Mastercard has teamed with Turkish mobile retail firm Getir to use its bot for the “first” Masterpass payments in Facebook Messenger. Customers search for Getir (think “get here”) in Messenger, chat with the bot in a “natural, conversational way”, and make a payment with Masterpass. Getir says users can receive a ten-minute delivery from its […]

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