Samsung Pay will roll out in September, a bit later than its originally planned summer 2015 launch. But when the m-payments service goes live in the U.S. and Korea, it will include a consumer rewards program.
Despite industry fervor behind mobile payments, 47 percent of U.K. consumers don’t want to use their phone to make payments, with 81 percent citing security concerns, according to a recent survey.
Nearly half of smartphone users do not want to use their device to make contactless payments, mostly over fears about security, according to a survey.
Fintech funding is booming globally and within the overall sector, mobile fintech is getting the most money.
On the heels of Facebook’s app-based money transfer service expanding to New York City and adding functions, money management provider Virtual Piggy Inc. has unveiled a P2P transfer service of its own.
If Apple Pay provided the first example of a mobile wallet with the right ingredients to finally ignite user (and partner) interest, Google Inc.’s Android Pay platform is poised to accelerate m-payments scale.
Gift card providers should expect stronger sales as the weather gets warmer and summer celebrations get into full swing, according to the latest research from the Retail Gift Card Association (RGCA).
Strong signs suggest Google Inc. this week will announce Android Pay, its new mobile payments API for developers, likely revitalizing prospects for Google Wallet, and kicking off a summer of fresh m-payments competition, putting the heat on Apple Pay and other emerging approaches.
The growth of mobile money has been a steep upward curve and looks set to continue – Juniper Research predicts that there will be one billion mobile banking users worldwide by the end of 2017, up from 590 million in 2013. A recent Forrester report predicted that purchases on mobile devices would double by 2018, as even more people become comfortable buying online and retailers create more user-friendly mobile experiences
The race to accelerate payments heated up this week with the introduction of MasterCard Send, a new platform enabling the rapid transfer of funds by businesses, merchants, governments, nonprofits and card issuers to consumers via debit network rails.
Apple may have a hard time exporting its Apple Pay business model to Europe, where interchange revenue is much lower than in the U.S.—and about to get lower.
Customers of India’s Axis Bank are now able to send money to each other through Facebook, messaging apps Twitter and WhatsApp, email and phone contact lists using Ping Pay, a multi-social media app developed by Fastacash, a Singapore-based social payments vendor.
Alibaba, the China-based e-commerce giant, appears to be sharpening its focus on the U.S. payments arena.
Walmart is making bold moves with mobile payments in China, where it’s signed on with e-commerce giant Alibaba to accept mobile payments via the Alipay Wallet in 25 of its 410 Chinese outlets, the Arkansas-based retailer announced this week.
Starbucks customers last week noticed their purchases were costing a lot more than expected after hackers exploited the Starbucks app’s auto-reload function that’s connected to consumers’ payment cards, according to reports.
Samsung is terminating its mobile wallet service at the end of June, paving the way for Samsung Pay, its mobile payment service for Android devices.
Proximity payment transaction volume is estimated at $7.5 billion this year and is expected to grow gradually before skyrocketing to $487 billion in 2020, according to an Aite Group report.
On the background of a recent study revealing that UK mobile banking users are set to double to 32.5 million by 2020, banks need to tailor their customer experience models heavily towards mobile devices, with the fundamental focus on creating a “mobile-first” strategy, if not the more radical “mobile-only” strategy
LevelUp is trying something it says is a first in the U.S.—enabling users of its mobile payments platform to charge in-store purchases to their mobile phone bills, beginning with Sprint customers.
Two of the biggest names in global commerce are exploring a partnership that could bring Apple Pay to China.
Mitek Systems has unveiled authentication technology, which it says will improve customer acquisition efforts by enabling issuers to instantly verify a consumer remotely or in a brick-and-mortar bank location using a driver’s license.
Weve, the U.K. telco-led mobile wallet joint venture of O2, Vodafone and EE, this week announced another major reorganization, abandoning its earlier mobile payments ambitions to focus on mobile advertising, under the sole ownership of O2.
The U.K. rollout of Visa Europe’s V.me digital wallet is picking up steam, the payments network said, with support from banks representing more than half of the country’s 130 million cardholders and thousands of merchants.
Wirecard Group will support the launch of mobile operator Orange’s Orange Cash mobile payments service in Spain.
As new payments technology seeks to disrupt the industry status quo, pressure is intensifying for financial institutions to adapt through innovation, or risk losing their existing leadership in the value chain, a new study from ACI Worldwide suggests.
Consumers’ perceptions of mobile payments security have improved, along with the number of consumers who say they’re likely to use a mobile payment app in the next 90 days, according to a new survey.
BBVA is shaking up its corporate structure as part of what the bank calls a “digital transformation.”
As mobile handsets become more prevalent as a tool for retailers, for payments, loyalty and engaging with consumers in and out of the store, security of sensitive data becomes increasingly more important.
At first glance the message for banks from the latest World Retail Banking Report 2015 looks like very bad news for traditional banks. Globally, customers’ propensity to leave their primary bank is on the rise while their willingness to make referrals or buy additional products from their primary bank has decreased significantly.
The recent news that funds stored in Google Wallet now are FDIC-insured might indicate the tech giant has more changes in store for the wallet—and may even begin positioning it as a checking account alternative.
When top payments and retail executives gather at All Payments Expo (APEX) Europe May 18-20, 2015 in Marbella, Spain, a key theme will be identifying and navigating new business opportunities surrounding emerging payments technologies, like mobile wallets and host card emulation (HCE).
Merchant Customer Exchange, developer of the CurrentC mobile payment platform has appointed financial services and payment industry veteran Brian Mooney as interim chief executive. Mooney succeeds Dekkers Davidson, who is leaving MCX to pursue other opportunities.
Best Buy Co., a founding member of MCX , surprised observers this week with news that it’s supporting Apple Pay on its Website, and adding POS support later this year. Is there a problem?
Discover credit and debit cardholders will be able to make payments via Apple Pay beginning this fall, the companies announced today.
Apple Inc. is spending more time on Capitol Hill meeting with lawmakers on topics that include mobile payments, new lobbying expense data suggest. During the first three months of this year, Apple’s expenses for lobbying rose 16 percent compared with the same period a year ago.
Electronic payments were a driving force behind eBay’s first quarter, ended March 31, 2015, which saw the online auction site total $4.45 billion in revenue compared with $4.26 billion in the same quarter a year ago, according to the company’s latest earnings report.
The Apple Watch will be Apple’s most profitable product line ever, with gross margins exceeding 60 percent, according to some observers.
Attracting millennials requires a better banking experience and Apple Watch may hold the key, according to Minneapolis-based mobile money technology provider Cachet Financial Solutions, which today announced its prepaid mobile platform supports Apple Watch.
Samsung has even larger plans for biometrics beyond including fingerprint-based authentication as part of its Samsung Pay mobile payments service.
India’s largest private bank is exploring contactless payments in a limited rollout to corporate campuses that enables employees to use a mobile prepaid account to make NFC payments at corporate canteens and shops.
