The European mobile payments market continues to draw the interest of investors, with London-based mobile payment and loyalty app Yoyo landing $5 million in seed investment.
A new mobile wallet platform from InComm is capitalizing on the company’s prepaid expertise to offer wallet providers a multitude of features, possibly giving InComm a competitive boost and signaling a shift in the prevailing business model. T
Despite skepticism that the path to widespread NFC-based mobile payments is in the SIM card, global shipments of NFC-enabled SIM cards more than doubled last year, and the SIMalliance expects such growth to continue.
Don’t get bogged down by existing technological limitations—they will inevitably fade with the march of innovation—and the future will be beyond what you can imagine.
At the launch of the All Payments Expo Europe today in Marbella, Spain, speakers invariably turned to the topic of mobile, with strong emphasis on (and statistics to support) meeting the needs of merchants participating in mobile payments services and the consumers who use them.
Apple’s recent deal with China’s UnionPay on a pair of contactless payment initiatives may be a sign that the tech giant is ready to make a major move into NFC payments, including equipping the next generation of the iPhone with NFC technology.
Incentives may be working for Isis, which says consumers activated an average of 20,000 mobile wallets per day over the past 30 days. But activations don’t necessarily equal continued usage.
“Winners” will be those platforms that are flexible enough to accommodate the breakneck pace of technological advancement.
Square, no stranger to experimentation, this week surprised observers by pulling its Square Wallet from the Apple and Google stores three years after its launch and introducing an order-ahead app for cafes and restaurants.
Apple Inc. is joining the push to accommodate EMV cards in its stores with its EasyPay m-POS, which uses a special iPhone case made by VeriFone that employees may use for customer checkout.
Facebook has already conquered the social media sphere—and now there are signs the company is seeking to capitalize on its global ubiquity and massive user base to make a splash as a money transfer service, recently partnering with financial service providers on transfer initiatives around the globe.
As contactless and mobile payment methods continue to grow, building societies and other financial institutions need to avoid being complacent about new technology, according to senior delegates speaking at the BSA annual conference in Manchester this week.
San Diego-headquartered Quippi is taking the fees out of remittances by offering gift cards that can be purchased online or in-store in the U.S. and redeemed by recipients in Mexico.
Digital gift cards are getting a boost in Canada as Blackhawk Network and Rogers Communications have opened Blackhawk’s digital gift card platform to users of the Rogers suretap mobile wallet app.
A group of the biggest financial institutions in the U.K. have banded together to launch a new P2P mobile payments system that by year-end will be accessible to 9 out of 10 bank account holders in the U.K.
Australia’s Commonwealth Bank could be looking to get out ahead of Square’s eventual arrival Down Under.
Confusion and concern over security is cited over and over again as the biggest barrier to widespread consumer uptake of mobile payments. And no wonder – confidence in the protection of sensitive cardholder data lies at the heart of trust in this technology. An EMV card as a physical asset is cryptographically secure. How can we emulate this security with something that is virtual?
Several major payments players recently have thrown their weight behind host card emulation (HCE), the technology many believe could be the key to finally bringing NFC-based mobile payments into the mainstream.
U.S. Bank is going real-time with its P2P offerings and adding a few key new features in a field where the P2P ambitions of companies like Square, Google and Amazon are generating considerable interest.
First the Wall Street Journal reported in November that Square Inc. was considering an IPO. Then acquisition rumors swirled after the newspaper reported this week that Square had been in M&A talks with companies including Google, Apple and PayPal.
Consumers may be embracing mobile apps, but that doesn’t necessarily mean they’re comfortable with or even aware of what their apps can do, a new study suggests.
LevelUp is tinkering again with the transaction fees it charges merchants for participating in its mobile wallet, cutting the cost from 2 percent to 1.95 percent as the SCVNGR-owned company seeks an appropriate balance for its bottom line.
Payment services provider Adyen has reported that one in five payments made on its network are now being made using a mobile device – a finding that reflects the rise of mobile payments worldwide, according to the firm.
While Google Wallet forges partnerships with merchants that don’t rely on NFC, one of contactless payments’ most high-profile skeptics may be coming around to seeing some real potential in the technology.
As campus identification cards doubling as reloadable prepaid cards become more prevalent on college campuses, they’re also becoming more integrated into student life via smartphone.
The thus-far sluggish rate of mobile wallet adoption in the U.S. has been attributed to a range of factors, from security concerns, to lack of widespread merchant acceptance to the familiarity and convenience of traditional plastic payment cards. But according to a new report from TSYS, what might be holding mobile wallets back has less to do with the mobile and more to do with the wallet.
Baidu Inc., China’s version of Google, has entered the mobile wallet arena, pitting the country’s most popular search engine against the likes of Alibaba and Tencent Holding Inc., both of which launched mobile wallets last year.
Facebook is putting the pieces in place to launch a money transfer service in Europe.
FIS wants to help banks in the pursuit of the coveted millennial consumer by focusing heavily on mobile banking.
Contactless payments are spreading rapidly throughout Europe, according to new data from MasterCard.
Despite a somewhat bumpy rollout and several course-corrections, Google Wallet is here to stay, said the head of the tech giant’s payment division.
Payments are in the midst of some fundamental changes that will continually reshape the industry landscape for years to come, according to a new white paper from Vantiv Inc., outlining the top 10 payment trends to watch in 2014.
Program manager DCR Strategies Inc./TruCash and technology provider Carta Worldwide soon will be launching payment solutions, such as NFC mobile payments, virtual prepaid and integrated loyalty programs, using conventional payment methods and host card emulation (HCE), which emulates an NFC card in the cloud.
Partnerships and alliances with innovative digital entrepreneurs will allow the large incumbent banks to adapt and thrive in the new economic ecosystems being created by the mobile and digital revolutions currently changing the industry.
The banking industry is complex by its nature but banks and bankers should look up from their budgets, listen to their customers, stop whining about regulations and collaborate on industry issues.
PayPal is expanding its reach by getting on the menu as a payment option at small bistros and food trucks around the world that are switching to tablet-based POS systems.
Mobile payment service M-Pesa has arrived in Europe with its launch yesterday in Romania, following expansions into other countries, such as Egypt and India, in recent years.
Mobile-based customer care is failing to meet the needs of users, who still suffer from many of the same old issues, along with some new problems that have cropped up more recently.
The good news for mobile payments is that consumers in the U.S. and Europe are spending double when they initiate payments via their mobile devices or online, according to a survey released this month from Bain & Company.
Brazilian mobile network operator Claro has partnered with Bradesco, one of that country’s largest banks, to create an NFC-based mobile payment service.
