Getting to grips with mobile security
The sensors built into mobile devices offer a whole new way of identifying their users though biometric techniques, according to security expert Uri Rivner.
Mobile
Holiday E-Retail Roundup: Amazon the Big Black Friday Winner, A Record Cyber Monday (Dec. 3, 2015)
The online retail numbers keep rolling in as the holiday shopping season launches into high gear, and more shoppers than ever are making purchases online.
Mozido Supercharges TWallet for Indonesia’s Largest Telco (Dec. 3, 2015)
Boasting more than half of Indonesia’s 255 million people as wireless customers, mobile network operator Telkomsel Indonesia is tapping Mozido to help it entice more of its 140 million customers to use its mobile wallet.
House Committee Applauds Mobile Payments Innovation (Dec. 2, 2015)
In a Congressional hearing yesterday, lawmakers examined the role mobile payments technologies are playing in disrupting traditional payments, paying particular attention to how mobile has increased payments security and enabled small businesses and underbanked consumers to access electronic payments.
Samsung Pay Adds 8 New Issuers, Including Chase (Dec. 2, 2015)
Samsung Pay has expanded its roster of supported payment cards with the addition of eight new card issuers.
Krispy Kreme’s App May Be Late to the Party, but has Grand Plans (Dec. 2, 2015)
Competition for consumers looking to get their doughnut and coffee fix, among other offerings, has heated up with this week’s announcement of Krispy Kreme’s new loyalty app.
U.K. Licenses Second Digital Bank (Dec. 1, 2015)
A new digital banking startup has received a U.K. banking license, adding another challenger to the growing ranks of financial services providers seeking to contest the dominance of established banks. Tandem Bank is just the second digital-only bank to earn a license from the Bank of England, following Atom Bank, which was licensed in June.
M-Payments’ Next Mission
The pressure to build scale rises with new competitors—Android Pay, Samsung Pay and CurrentC—joining Apple Pay in the emerging m-payments fray. Will consumers climb aboard? How they’re using m-payments so far, may tell the tale.
Gift Cards, E-Commerce Drive Holiday Shopping
U.S. shoppers flocked to physical and online stores during the Thanksgiving weekend, with more than 151 million Americans shopping in-store and/or online, based on data from the National Retail Federation. The shopping frenzy is expected to continue, with Cyber Monday deals projected to drive 121 million U.S. consumers to shop online. Average spending per shopper was $299.60, and gift cards were especially popular, comprising a whopping 76.6 percent ($229.56) of that average total.
Visa Highlights Security Efforts during Peak Shopping Season (Nov. 30, 2015)
As consumers take to their computers and mobile devices in the hopes of getting great deals today and throughout the holidays, shoppers could fall prey to identity thieves and other scams. To thwart such crimes online and in stores, Visa has kicked off an educational campaign for issuers, merchants and consumers about the network’s security efforts.
ERPB Approves Instant Payments Plan (Nov. 29, 2015)
Instant payments are a step closer to becoming a reality in Europe, now that the European Payments Council (EPC) has submitted and received approval on its proposal for the design of a pan-European instant credit transfer framework.
Apple Pay Seeking February Launch in China; Wirecard Debuts New NFC Wallet (Nov. 24, 2015)
Apple Pay’s long-awaited arrival in China could be just months away, with the mobile payments service slated to launch in the country by early February 2016, according to a report. Meanwhile, Germany’s Wirecard has launched a new Android-based NFC mobile wallet in four European countries.
Shift, Coinbase Debut Bitcoin Visa Card (Nov. 23, 2015)
Bitcoin may be a step closer to going mainstream now that Coinbase is partnering with Shift Payments to launch a Visa-branded bitcoin debit card that lets users spend the funds in their bitcoin wallets anywhere Visa is accepted.
Square (Finally) Goes Public, Trading Well above Initial Pricing (Nov. 19. 2015)
After much prognostication regarding when Square would finally announce its IPO, the m-payments service provider began trading this morning on the New York Stock Exchange under the symbol SQ.
Fintech Investment Dollars Keep Coming, but Challenges to Growth Remain (Nov. 19, 2015)
Funding continues to roll in for fintech startups, with a pair of firms landing investments totaling more than $21 million this week.
China’s Biggest Messaging App Integrates Western Union Money Transfer (Nov. 19, 2015)
The convergence of social media and money transfer has taken another step forward, with China’s biggest mobile messaging app partnering with Western Union to enable users to make cross-border P2P transfers.
Viewpoint: Money20/20 Highlights Emerging Payments Trends
The five most important takeaways from Money20/20 that will shape payments for the foreseeable future.
SIA sets sights on German P2P mobile payments market
Italian payments company SIA is expanding its P2P service Jiffy into Germany, together with IT firm GFT Technologies. The move is part of SIA’s plan to roll out real time money transfer via mobile phone to 400 million European current account holders.
Apple Pay Extends to Canada with Amex Partnership (Nov. 17, 2015)
Apple Pay’s availability continues to slowly cover the globe with the latest addition—Canada. American Express today announced the availability of Apple Pay for cardholders with cards issued by Amex Bank of Canada.
MasterCard Joins Vodafone Wallet, Demos Loyalty Feature in Paris (Nov. 17, 2015)
Users of Vodafone’s mobile wallet soon will be able to add their MasterCard-branded payments cards to the wallet app and subsequently make contactless payments via NFC, the European telecom provider announced. Vodafone Wallet added support for Visa-branded payment cards earlier this year and compatibility with Visa- and MasterCard-branded payment cards could help Vodafone Wallet compete against Apple Pay, which launched in the U.K. in July.
London’s 22,500 Black Cabs Go Mobile with HailoPay (Nov. 12, 2015)
In a global battle pitting two companies, Hailo and Uber, that connect drivers with riders, U.K-based Hailo announced this week that all of London’s 22,500 black cabs now accept mobile payments using HailoPay, a payment gateway for passengers to pay for black cab rides using their smartphones.
Samsung Pay to Explore Handset-Based P2P Service? (Nov. 12, 2015)
Samsung Pay grabbed attention in the m-payments race with its technology enabling users to pay with their handsets at any POS terminal, whether or not it accepts NFC. Now reports suggest Samsung Pay may add P2P services.
ItzCash Partners with Uber to Target Unbanked Riders outside India’s Major Urban Zones (Nov. 10, 2015)
In Uber’s latest move to expand its services to emerging markets, the San Francisco-based company has formed a partnership with Mumbai-based Paybefore Awards winner ItzCash Card Ltd. to reach unbanked consumers in areas outside India’s major cities.
Mastercard and Cardlytics partner to expand bank connections to card-linked offers
Mastercard and Cardlytics have formed a new partnership that will streamline the process for banks implementing Cardlytics’ card-linked marketing offers, and ensure that consumers can access offers online and via mobile devices.
Apple Pay Adds Walgreens as First Loyalty Partner (Nov. 9, 2015)
Five months after announcing support for retailer loyalty programs, Apple Pay has landed its first merchant loyalty partner. Members of Walgreens’ Balance Rewards loyalty program now are able to integrate their rewards accounts into Apple Pay, using a mobile device to earn and redeem points when making purchases at the pharmacy giant.
Mobetize, Global Service Solutions Partner for Mobile Wallet (Nov. 4, 2015)
Mobile payments technology provider Mobetize Corp. has formed a strategic partnership with prepaid wireless company Global Service Solutions Inc. and under the new brand Gotwallet, the companies “successfully” will bridge the gap between the prepaid wireless end user and mobile payments, according to a Global Services Solution executive.
Fiserv and Early Warning Partner on New Service Driving Fast Bill-Payment, Deposits (Nov. 3, 2015)
In the latest example of the global push to speed up payments, Fiserv Inc. and Early Warning, a bank-owned risk management service, today announced a partnership enabling U.S. banks to provide real-time bill payment and deposit services, leveraging the scale of Fiserv’s NOW Network and technology from Early Warning.
suretap Adds Loyalty Feature (Nov. 3, 2015)
Experts have long pointed to loyalty as the key to convincing consumers to adopt mobile wallets.
Amazon Adds ‘Pay with Amazon’ for Mobile Apps (Nov. 2, 2015)
Amazon is expanding its one-click “Pay with Amazon” feature to third-party mobile apps, capitalizing on the growing popularity of “buy buttons” for mobile commerce.
Report: CurrentC Pilot to Expand Early Next Year (Oct. 29, 2015)
In a keynote address on Money20/20’s final day, MCX Chief Brian Mooney provided more details about how CurrentC—backed by Chase Pay—will work at the POS for consumers, demonstrating use cases in its current pilot in Columbus, Ohio.
Study: Apple Pay’s Growth Slowing as it Enters Year Two? (Oct. 28, 2015)
At Money20/20 this week, Phoenix Marketing International released data from a new survey that suggests Apple Pay adoption is still on the rise, but its growth rate has slowed considerably in recent months.
Enacomm, VoiceVault Launch Voice e-Signature at Money20/20 (Oct. 28, 2015)
Enacomm, a provider of intelligent customer service solutions, and enterprise and mobile voice authentication company VoiceVault have integrated technologies for the provision of Voice e-Signatures. Showcased during Money20/20, and recently implemented for a financial industry giant that manages billions of dollars in assets, the technology enables identity verification via a phone or smart device for obtaining and storing customer signatures, the companies said.
Money20/20: Chase Pay on the Way, Secures MCX Partnership (Oct. 27, 2015)
Chase is not the first U.S. bank to launch a mobile wallet—Capital One secured that position earlier this month. But Chase Pay has snagged a huge partner in MCX and, when launched next year, will create a major alternative network.
Samsung Pay Adds Blackhawk Gift Cards (Oct. 27, 2015)
Blackhawk Network’s partner gift cards can now be integrated into Samsung Pay, enabling cardholders to manage and spend their gift cards through the mobile wallet.
Cachet Financial Solutions Beefs Up Its Select Mobile Money Platform (Oct. 27, 2015)
Cachet Financial Solutions has launched enhancements to its Select Mobile Money prepaid platform with features addressing security and cardholder engagement.
Viewpoint: Selfie Generation Demands Personalization
The selfie boom was born in 2003 with the world’s first front-facing camera, and millennials are the first generation to grow up with technology focused on one’s self, bringing new expectations to the meaning of personalized, digital services.
Mobile banking customers demand new features
One in three retail banking customers feel their mobile banking app is not as good as online banking through a browser, according to a new study by ecommerce company First Data in the UK. The figures also revealed that more than half still have yet to use a mobile banking app – suggesting that there may be both an unmet demand for more functionality in mobile apps, and a need to convince the remaining consumers of their value.
MasterCard Initiatives Give Boost to Security (Oct. 20, 2015)
MasterCard is bolstering security on several fronts, launching tokenization for MasterPass and a new tool to help banks and processors reduce the threat of cyberattacks.
CurrentC Pilot Adds Walmart (Oct. 19, 2015)
Walmart this week joins major merchants participating in MCX’s CurrentC mobile payments test underway in Columbus, Ohio, with Exxon Mobil and Shell coming soon, the consortium confirms.
Will banks suffer casualties in the battle to own the customer experience?
Technology has infiltrated every facet of our lives, fundamentally changing our behaviour patterns and our expectations of what constitutes a good customer experience. The banking sector has not been immune to these changes; the industry has been forced to drastically transform its business processes and services in order to keep up with customers’ expectations. Today, customer satisfaction is judged not by the smile on the face of a cashier, but on the speed with which one can gain mobile access
