Apple Inc.’s plan to roll out Apple Pay soon in Australia—which has a high penetration of contactless cards and NFC terminals—has hit a snag as the country’s largest banks balk at paying the toll Apple requires, according to reports.
The State Bank of India this week enters India’s increasingly competitive mobile wallet field with “SBI Buddy,” an m-wallet enabling consumers to make purchases directly from participating merchants’ e-commerce offerings.
There has been hype around wearable technology for some time now but only now is it reaching market maturity with the introduction and subsequent adoption by consumers of smart watches and wristbands. Just as we saw with smart phones and tablets, consumer technology, in this case wearables, has the potential to have a huge impact on the business world. The implications for the financial services industry are significant
Samsung Electronics Co. Ltd. today announced that Samsung Pay will launch next week in Korea and on Sept. 28 will get in the m-wallet ring with Apple Pay in the U.S., enabling consumers with the latest generation of Samsung’s handsets to tap their devices and pay contactlessly “nearly everywhere” cards are accepted, including NFC-ready locations and those that are not yet NFC-ready, the company said.
Financial technology investment remains hot, with several fintech providers involved in major acquisitions announced over the past week.
MasterCard, Canada’s TD Bank Group and technology provider Nymi, formerly Bionym, are getting to the heart of payments security.
Pharmacy retailer Rite Aid this week said it will resume NFC acceptance at its 4,600 stores nationwide beginning Aug. 15, following months disabling contactless payments acceptance in the wake of Apple Pay’s rollout.
To compete in a mobile world, financial services providers must focus on speed, convenience and security when designing mobile banking and payments services, according to a new report.
Target is tackling showrooming and hopes to increase shopper engagement with its latest test of location-based beacon technology in 50 of its stores, with a nationwide rollout slated for later this year.
Sen. Richard Blumenthal (D-Conn.) this week sent a letter to the retail consortium Merchant Customer Exchange (MCX), which is readying the launch of its CurrentC mobile payments service, demanding details about its exclusivity policy requiring participants to block rival mobile wallets, along with other information.
Green Dot Corp. is using barcode-generation technology to enable customers to add cash to their accounts using their mobile devices at more than 65,000 retailers in its reload network.
Amid Facebook’s better-than-expected, second-quarter earnings report last week, payments revenue fell 8.1 percent.
Samsung plans to launch its m-payments service Samsung Pay in Europe, by extending its global partnership with MasterCard and leveraging the MasterCard Digital Enablement Service platform to connect European card issuers to the m-payment service.
Indian mobile wallet provider MobiKwik is launching a new, Uber-like service.
Visa Inc. this week announced a new partnership with and investment in Stripe, a startup specializing in mobile and online payments technology, to work on new approaches to online payments and increasingly popular “buy buttons.”
MasterCard and Citibank India are teaming up to bring the payment network’s MasterPass digital wallet to India.
SUBWAY will launch a revamped version of its mobile app and Web ordering service, adding PayPal’s OneTouch mobile checkout as a payment option.
Santander, a financial services provider in the U.K., has made it easy for up to 100 consumers at least 18 years old to pool their funds via an app available on iOS and Android.
Ingo Money and NetSpend today announced an agreement that will enable NetSpend prepaid cardholders to deposit checks to their accounts via smartphones by combining Ingo’s mobile check deposit capture service with NetSpend’s mobile banking platforms.
CurrentC—the mobile payments service backed by a consortium of major retailers—reportedly will launch next month, and curiosity is running high about how the merchant-centric app will stack up against Apple Pay and other emerging mobile wallets.
After more than a year of rumors, it appears Square finally could be taking the plunge and going public. The m-POS pioneer—which has been expanding steadily into other verticals—has filed confidentially for an IPO with the SEC, according to Bloomberg, which cited sources with knowledge of the plan.
Mobile money transfers are projected to balloon nearly 150 percent this year, with social media services driving much of that growth.
Apple Pay this month has reached a new milestone: More than 1 million U.S. merchants now accept the m-payments service, according to new data from Ingenico.
Sri Lanka’s largest telco, Dialog Axiata, is partnering with MasterCard joint venture HomeSend to enable mobile remittances to the country, which represents a US$7.2 billion money transfer market.
Apple Pay went live today in the U.K., and analysts say its prospects of catching on with consumers are promising, at least from the hardware perspective.
First Data Corp. has made another move to bolster digital gifting options for its retail clients, acquiring digital gift card platform Transaction Wireless Inc. (TWI).
Biometrics authentication continues to draw interest from some of payments’ biggest players, with MasterCard unveiling a new pilot program that will enable online shoppers to approve purchases with a facial scan.
Two days after revising its earnings expectations for the year, London-based financial technology firm Monitise plc told investors today that Visa Europe plans to withdraw its remaining investment in the company.
iPhone devices account for more than one in three mobile transactions, and are used for 10% of all global online transactions, according to new figures published by payment specialist Adyen.
P2P providers may have to brace for yet another competitor to enter the crowded field—Apple Inc.—which has filed a patent suggesting plans to extend P2P services to its Apple Pay users.
Facebook’s mobile P2P payments service now is available throughout the U.S., the social media giant announced this week.
Spanish banking titan Santander and U.K.-based mobile banking firm Monitise today announced the formation of a joint venture to launch new fintech startups in their own backyards, using the companies’ combined strategic and technical resources.
Wirecard this week has launched a mobile checkout development platform enabling retailers to boost the capabilities of their own apps by integrating open- and closed-loop contactless payments, P2P gifting, offers, merchant loyalty functionality and electronic receipts.
A group of Canada’s major wireless carriers this week announced support for the NFC-based suretap mobile wallet, and with one major bank already on board, the move looks like a watershed moment for telco-led mobile wallets, which generally have struggled to catch on elsewhere.
The Indian government’s efforts to shift the country’s economy away from cash have taken a significant step forward.
The afternoon sessions at the Banking Technology Forum 2015 focused on mobile payments, the data dilemma, cyber-security and regulation with speakers from Zapp, GSMA, EY and many others
Coffee kings Dunkin’ Donuts and Starbucks are racing to see who can get consumers their caffeine fix fastest by streamlining mobile ordering and payments in their respective apps.
Mobile shopping is growing fast in the Asia-Pacific region, according to a newly released study by MasterCard.
Corporate users are increasingly adopting mobile payments, according to figures from HSBC, which expects usage of its HSBCnet Mobile corporate banking platform to double over the next 18 months, reaching $100 billion in payments.
The Bancorp, a major provider of prepaid card services in the U.S. and Europe, is extending open-loop mobile contactless payment capabilities to its clients in the region through a new partnership with mobile payments company MeaWallet.
