Citi Wallet Debuts, Leverages MasterPass One-Click Checkout (Aug. 28, 2014)
Ready for the battle of the bank-branded digital wallets? New York-based Citi this week introduced Citi Wallet, to streamline online shopping for credit card customers.
Mobile
Ingo Money: 85% of OK’d RDC Checks Available in Minutes (Aug. 28, 2014)
More than 85 percent of approved checks sent over the Ingo Money platform, accounting for more than 90 percent of the platform’s total check value, now are funded to customer accounts and available to spend within minutes, according to Ingo Inc., the Georgia-based electronic funding specialist that operates Ingo Money.
PayPal, Braintree Rolling Out ‘One Touch’ Mobile Payment Service (Aug. 20, 2014)
PayPal and Braintree, which is part of PayPal’s business unit, are rolling out the One Touch mobile payment solution, which will enable consumers to make purchases on their mobile devices from PayPal merchants with one touch of the screen, rather than entering user IDs, passwords and payment card information.
Global Payout to Acquire M-Payments Provider Focused on Underserved (Aug. 19, 2014)
Global Payout Inc., an electronic payment and prepaid solutions provider, today announced plans to acquire Maxie Mobile LLC, a global mobile payments provider focused on the underserved.
SumUp Nets New Funding for mPOS Expansion (Aug. 19, 2014)
European mPOS provider SumUp has landed a new investment of more than $10 million to expand operations, including propelling adoption of its recently launched chip and PIN card reader.
QR Code Patent Latest Clue on Apple’s Mobile Wallet Plans
Details of Apple Inc.’s mobile wallet plans continue to trickle out, with the latest clue found in a patent filing that illustrates a QR code. Published late last month, the application describes a parental control system that would enable parents to control payment authorization on their children’s mobile devices.
Heartland Acquires mPOS Tablet Maker Leaf
Heartland Payment Systems has acquired Leaf, creator of an mPOS tablet, a deal the payments processor said demonstrates its commitment to providing resources and support for small- to medium-sized businesses.
Smart Card Alliance: HCE Unlocks NFC Potential, Poses Hacker Risks (Aug. 14, 2014)
Host card emulation (HCE) unlocks the potential for NFC to expand mobile payments by making them more convenient and consumer-friendly, but developers must proceed with caution because of various security risks HCE poses, according to a new white paper from the Smart Card Alliance.
Revitalizing Reloads
By Loraine DeBonis, Editor-in-Chief Options are exploding for prepaid cardholders with swipe, no-cost and mobile reloads making it easier than ever to spin cash into digital gold. Turning cash into an electronic form of payment is undergoing a bit of a renewal. With mobile deposit, unprecedented partnerships, free options and new uses for reload networks—from […]
Amazon Dives into mPOS Market (Aug. 13, 2014)
There’s a new player in the mPOS arena—and it’s a heavyweight.
The Small Business Opportunity for Digital Banking (Aug. 13, 2014)
Financial institutions looking to attract and retain small business customers can do so by beefing up their digital banking services, according to a new white paper from Fiserv.
FinCEN Urges Culture of Compliance among FIs, Issues Advisory (Aug. 12, 2014)
FinCEN is urging financial institutions to foster a culture of compliance with Bank Secrecy Act/Anti-Money Laundering (BSA/AML) rules and has issued an advisory explaining how basic principles can strengthen compliance within organizations.
CFPB Soliciting Complaints about Digital Currency (Aug. 12, 2014)
It isn’t just complaints about prepaid card products that the CFPB is trawling for.
USPS Loses Nearly $2B in Q2, Could Banking Services Stop the Bleeding? (Aug. 12, 2014)
The U.S. Postal Service (USPS) on Aug. 11 posted a net loss of $2 billion for the quarter ended June 30, 2014, compared with a net loss of $740 million for the same period a year ago, increasing pressure on the beleaguered organization to find new sources of revenue.
MasterCard, First Data Enhance Card Controls for Asia-Pacific Customers (Aug. 12, 2014)
MasterCard and First Data Corp. today announced a partnership to extend MasterCard’s inControl product for managing card spending to First Data’s customers in Asia Pacific, to enhance their growing use of payments cards for e-commerce purchases.
PayPal Rebrands Credit Service, Eyes Offline Expansion (Aug. 11, 2014)
PayPal Inc.’s recent rebranding of its Bill Me Later service is part of an effort to bring credit more to the forefront of its business and continue its expansion into offline payments, according to the company.
New App Option a Clue to Twitter e-Commerce Plans? (Aug. 11, 2014)
Rumors of Twitter’s imminent entry into e-commerce got more fuel last week, when some users of the company’s Android app noticed a new “Payment & Shipping” option.
Growing RDC, Mobile Wallet Business Bolsters Cachet IPO (Aug. 7, 2014)
Capitalizing on its recent high-profile moves in the mobile banking space, Cachet Financial Solutions netted nearly $6 million in its Initial Public Offering last month.
FTC: Apps Must Provide More Consumer Info before Download (Aug. 7, 2014)
Many mobile apps used for shopping don’t provide consumers with enough information before they download them to their smartphones, according to the FTC.
Blackhawk, Barclays to Launch Pingit Gifting Feature (Aug. 5, 2014)
Blackhawk Network today announced a partnership with U.K.-based Barclays Bank PLC to launch an e-gifting feature for Barclays’ Pingit mobile banking service, enabling consumers to purchase an e-gift for themselves or someone else using their mobile devices.
American Express Begins First HCE Test (Aug. 5, 2014)
American Express has begun testing host card emulation (HCE) technology for mobile NFC payments at POS terminals in Croatia.
Token Efforts on Security Are More than Gestures
As consumers and merchants embrace card-not-present (CNP) transactions, such as online and mobile payments, the industry is looking for ways to further secure these channels.
Square Announces Plans for EMV Chip Reader (Aug. 4, 2014)
Square, the San Francisco-based mobile card reader provider, will be releasing a new card reader enabling merchants to use their mobile devices to accept payments from cards that are EMV-enabled.
Retail Groups Call for Open Tokenization Standards (Aug. 4, 2014)
U.S. merchant groups have banded together to call for open standards for tokenized payments, to be managed by an independent body.
Starbucks Plans Further Jolt for Mobile (July 31, 2014)
Starbucks has racked up nearly 12 million active monthly users for its mobile app, which processes 6 million transactions a week—and the company is looking to build upon that success, according to CEO Howard Schultz.
Research: FIs Don’t Need to Wait to Capitalize on M-Payments (July 31, 2014)
Financial institutions can capitalize now on mobile payments opportunities until the market for mobile payments at the POS matures, according to a white paper by Fiserv Inc., a Brookfield, Wis.-based financial services technology provider.
First Data to Expand Mobile Bandwidth via Gyft Buy (July 30, 2014)
First Data has announced it will acquire digital gift card provider Gyft Inc.
Blackhawk, Amazon Launch Mobile Wallet Features (July 30, 2014)
Blackhawk Network and Amazon today announced they are providing consumers with ways to spend and better manage their gift cards (from dozens of major retailers and restaurants) using the Amazon Wallet app.
Apple, Visa Reportedly in Mobile Wallet Talks (July 28, 2014)
Apple could finally be preparing to make its long-awaited debut in the mobile wallet sector.
Blog: Convergence is the Real Non-Payment Payment Story
Analyst Rick Oglesby posits that what’s happening outside of payments will actually have a bigger impact than what’s happening inside payments. Crazy or on point? Read and decide.
Why we should put a mobile wallet in every pocket
The mobile wallet is having a transformative effect on people’s lives in developing countries, bringing safer, faster, easier financial services to the people who need it most
New Gift, Loyalty App Latest Sign of Amazon’s Offline Ambitions (July 22, 2014)
Amazon has launched a new mobile wallet app for managing and redeeming gift and loyalty cards.
Snapchat Eyeing Payments, Patent Filings Indicate (July 22, 2014)
Mobile photo sharing and messaging app Snapchat might be seeking to move into payments.
Google Wallet Adds Gift Card Management, Free Debit Card P2P (July 21, 2014)
As Google Wallet continues to experiment, the latest evolution adds a new gift card management function and removes fees on debit card-based P2P money transfers made via the wallet.
Social Media, Shopping Convergence Continues with Twitter, Facebook Moves (July 21, 2014)
The boundary between social media and commerce continues to blur, with a pair of announcements from two major tech companies accelerating the convergence of shopping and socializing online.
Visa Launches 1-Click Shopping Service for e-Commerce (July 17, 2014)
The battle for space at the online checkout counter continues as Visa Inc. unveils a new service to enable e-merchants to add a one-click purchase button to shopping Websites and apps.
HCE and NFC: threat or opportunity?
Mobile NFC services continued to expand in 2013 but the big question is, will this be amplified or disrupted by the introduction of host-based card emulation (HCE) into mainstream operating systems?
New Braintree SDK Features PayPal Integration (July 15, 2014)
eBay Inc.’s Braintree payments unit has unveiled a new software development kit (SDK), marking Braintree’s first major upgrade since being acquired by eBay in an $800 million deal last year.
China Post to Launch Mobile Payment Services (July 15, 2014)
Chinese postal network China Post will make a major investment toward building a mobile and online payment service.
Offers, P2P Could Be Keys to Driving Mobile Wallet Use (July 14, 2014)
Forty percent of mobile wallet users are using mobile as their primary form of payment—and mobile-specific offers and rewards could be the key to converting the remainder, a new report suggests.
