Mobile


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.

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).

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.

Mastercard makes global mobile payments go Qkr

Mastercard says it will significantly expand the scope and capabilities of its Qkr with Masterpass mobile payment service. Not only is the technology set to debut in the US and five other countries, but it will now integrate with retail software provider Oracle, reports Banking Technology‘s sister publication Paybefore. At the Mobile World Congress in […]

Mastercard, Transport Authority Test Contactless Cards While Eying Mobile Payments

Mastercard and the Land Transport Authority (LTA) in Singapore have teamed up to launch a pilot program enabling commuters to pay for transit fares using contactless payment cards through an account-based ticketing (ABT) system. Although the tap-and-go pilot hasn’t begun yet, the next step of enabling consumers to use mobile wallets and wearables already is in the works.

First New Clearing Bank in 250 years Enters U.K. Market

There’s a newcomer on the U.K. challenger bank scene, but it’s not wooing consumers. As a bank for banks, other FIs and fintech companies, ClearBank will offer customers access to U.K. payment systems and core banking technology to support current account capabilities.

Mobile: the banking industry’s biggest ultimatum

An app is no longer a “nice to have”. As consumers expect businesses to engage with them at the right time, in the right manner, and over the right channel, a bank’s mobile app will be a crucial first point of contact for many customers. But it’s important to remember that an app by itself is not some wonder-cure that will instantly give a financial organisation perfectly satisfied customers.

Santander employs IBM for employee digital boost

IBM’s MobileFirst for iOS apps will be used by Santander as the bank looks to revamp its digital banking services and help its employees work better. The custom-built, native apps made for iOS will be rolled out across more than 11,000 iOS devices, and will be used by Santander’s commercial network employees, including those supporting […]

Mastercard Gives its Mobile Payments a Bigger Global Stage

Mastercard significantly will expand the scope and capabilities of its Qkr with Masterpass mobile payment service, the network said Feb. 27. Not only is the technology set to debut in the U.S. and five other countries, but it will now integrate with retail software provider Oracle.

Mogo’s New Prepaid Product Taps into Growing Canadian Market

Mogo, a Canada-based fintech firm, has launched what it describes as the country’s first prepaid digital spending account managed through a mobile app. The debut of the Mogo Spending Account and the Mogo Platinum Prepaid Visa comes amid robust growth in prepaid transactions in Canada.

Payments round-up: 21 February 2017

One is the loneliest number that you’ll ever do… so three stories in one will do better. Here’s a round-up of key events to save you time. Featuring Macquarie Bank, Apple Pay and more. The European Banking Authority (EBA) has relaxed its planned rules for increasing choice in how consumers pay for services and products […]

Q&A with Walt Granville, Cachet Financial Solutions

No more “one and done.” That’s central to Cachet Financial Solutions’ mission for its prepaid clients and was the impetus for platform upgrades that were nearly a year in the making. Paybefore spoke with Walt Granville, senior vice president of mobile innovation, about what’s resonating with clients and how Cachet is using optimized mobile apps to help them fight churn.

Innovators’ Spotlight: Raise

The Chicago-based startup enables consumers to easily purchase and redeem e-gift cards right from their smartphones, essentially turning unwanted e-gifts into a convenient and useful form of digital currency.

Mobile payments in the age of the customer

The mobile payment market is getting more congested every day. For banks, it’s the most frequent touchpoint – one that can help (re) establish everyday relevance and drive engagement. How can banks develop their strategy and prioritise the capabilities that will help them remain valuable to their customers?

Webinar Recap: How to Capitalize on Millennial Paycard Opportunity

More than 5 million U.S. millennials don’t have a checking account, and a third say payroll cards would be a valuable way to receive wages. With their distaste for traditional bank accounts and high level of interest in payroll cards, millennials represent a natural and significant market opportunity.

Mobile money: the state of play

With mobile money technology widely available, and so many citizens having access to a mobile phone, how many are actually banking in this way? What are the benefits available to them when using mobile money? And what does the future hold for this fintech innovation?

FinovateEurope 2017: designing good finance

Last week’s FinovateEurope was full of the broad range of exciting and innovative companies that we have come to expect at the show. Although the 72 companies showcasing their solutions operated right across the fintech landscape, they all sing from a common hymn sheet of improving the customer experience.

Prepaid Gains More Love from Canadians, but Bank Execs Might Have Worries

Reloadable prepaid cards are a hit with Canadian consumers, with 95 percent of them saying they are satisfied with the products in 2016. That represents an increase of 22 percentage points from 2015, and stands as the highest satisfaction rate for all payment tools, according to the second annual survey from the Canadian Prepaid Providers Organization.

PayPal’s New Pal Is its First Payments Bot

PayPal has a new pal—namely its first bot that enables Slack users to move and manage their money in a conversational and casual style. The PayPal bot is available to 5 million Slack users in Australia, Canada, the U.K. and the U.S.

Amazon Hits another High Note with Payments

In yet another sign that simplifying checkout for consumers is key to driving e-commerce payments, Amazon on Feb. 7 said that more than 33 million consumers have used its Amazon Payments service since its launch in 2013—and that the volume of payments “nearly doubled” in 2016 compared with the previous year. But don’t count on the e-commerce giant to be content with online payments alone.

Modern payments and banking APIs

Modern banking is not limited to banks anymore. It’s not only about online or mobile banking, it’s about all the things you would do in your banking system, but now you can do in apps or other solutions provided by third parties, not banks. Payments are one of such functionalities.

Barclaycard Teams with VocaLink for Mobile Payments

Barclaycard is partnering with VocaLink to enable its merchants to accept mobile payments through the Pay by Bank app. The app, created by VocaLink’s payment innovation team Zapp, will enable shoppers to pay for goods and services on a mobile device, without the need to enter credit or debit card details, according to Paybefore sister publication Banking Technology.

Barclaycard teams with VocaLink for mobile payments

Barclaycard is partnering with VocaLink to enable its merchants to accept mobile payments through Pay by Bank app. Pay by Bank app, created by VocaLink’s payment innovation team Zapp, will allow shoppers to pay for goods and services on a mobile device, without the need to enter credit or debit card details. Rajiv Garodia, managing […]

Varo Money joins forces with Envestnet | Yodlee to drive fintech innovation

California based technology companies Varo Money and Envestnet | Yodlee have teamed up to drive fintech innovation. Varo Money, a mobile-only banking start-up hopes to leverage Envestnet | Yodlee’s data analytics and aggregation platform to provide customers with a more customised mobile banking experience, and better insights into their financial well-being.

Cleo Chatbot Comes to Facebook Messenger

The rise of the chat bots continues as Cleo, a virtual money assistant described by its creators as the “Siri of personal finance,” has launched on Facebook Messenger for users in the U.K. Developed by the London-based fintech startup of the same name, Cleo is an artificial-intelligence-powered chat bot the companies say will help users manage their finances.

Ant Financial buys MoneyGram for $880 million

Alibaba’s affiliate Ant Financial is splashing out $880 million for money transfer operator MoneyGram International. This is Ant Financial’s first acquisition of a US-listed company.

Target Aims for Its Own Mobile Payment System

Add Target to the retailers stepping up their mobile payments game: The retail chain plans to improve at least one of its mobile apps by enabling in-store payments through it. What that means is that consumers could use their smartphones and Target app to pay for purchases inside the chain’s stores instead of relying on Apple Pay, Android Pay or other providers’ digital payment systems.

Wirecard’s Newest Service Enables Mobile Money Transfers from Migrants

In an attempt to take its share of the exploding cross-border payments market, which hit about $600 billion last year according to some estimates, Wirecard is launching a new mobile money remittance service in Europe, targeting consumers including unbanked migrants sending funds home.

Carmakers Are Showing Love to Payments, but How Far Can this Trend Go?

Not content with simply getting people from points A to B anymore, carmakers recently have been diving into mobile wallets and parking and payment apps, not only through partnerships but through acquisitions. The trend seems likely to gain speed in the coming year but there remain questions about how far automotive firms can go with payments, and what constitutes the best path.

ANZ’s Card Replacement Program Could Spur M-Wallet Adoption

A new service launched to mitigate customers’ inconvenience if their payment cards are lost or stolen might lead to greater adoption of mobile wallets and be a model for other banks. ANZ, one of the largest banks in Australia, has introduced a service that automatically uploads replacement card details as virtual cards to customers’ m-wallets, while halting activity on the missing physical cards.

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