Demystifying mobile payments
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.
Mobile
Citi Mobile Challenge demos ‘disruptive’ finalists in London
Mobile startups are changing the way customers interact with financial services around the world. Tier one banks know this, and are keen to get a piece of the action. This week, companies from EMEA demoed at the Citi mobile challenge in London in the final stage of an annual event that takes in hundreds of financial startups around the globe.
Retail banks face falling customer satisfaction and loyalty globally
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.
Why FDIC Insurance for Google Wallet?
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.
APEX Europe Speakers to Tackle New Business Opportunities in Payments
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).
MCX makes Mooney interim chief exec
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.
Payments innovation: lessons from emerging markets
Africa and Asia are the centres of innovation in payments, with the developed markets of the US and Western Europe lagging behind, but the trend is towards domestic offerings rather than regional or international ones, says the latest Payments Innovation Jury Report.
MCX Founding Member Best Buy Supports Rival Apple Pay
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 Joins Apple Pay Fold (April 27, 2015)
Discover credit and debit cardholders will be able to make payments via Apple Pay beginning this fall, the companies announced today.
Apple Bumps Up Capitol Hill Lobbying Expenses (April 27, 2015)
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.
PayPal Fuels eBay’s Engine in Q1; M-Payments up 40 Percent (April 23, 2015)
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.
Expert: Apple Watch Likely to Be Apple’s Most Profitable Product Ever (April 21, 2015)
The Apple Watch will be Apple’s most profitable product line ever, with gross margins exceeding 60 percent, according to some observers.
Cachet Targets Millennials with Apple Watch (April 21, 2015)
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’s Biometrics Plans Go beyond Samsung Pay (April 21, 2015)
Samsung has even larger plans for biometrics beyond including fingerprint-based authentication as part of its Samsung Pay mobile payments service.
ICICI Bank Introduces Contactless Payments at Large Corporate Campuses (April 21, 2015)
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.
Report: Apple Pay Coming to Canada (April 20, 2015)
Apple Inc. is negotiating with Canadian banks to bring Apple Pay to Canada as early as November, with details about fees and security protocols at the center of discussions.
PayPal on Security: Thinking Outside the Box, Inside the Body (April 20, 2015)
Jonathan LeBlanc, global head of developer advocacy at PayPal, says the future for mobile payments and other sensitive transactions could lay with embeddable, injectable and ingestible devices.
UK mobile banking set to double to £3.4 billion a week
The number of UK mobile banking users is set to almost double from 17.8 million to 32.6 million by 2020, according to a new report commissioned by Fiserv. Online banking is still growing too, the research found.
InstaMed Integrates Apple Pay for Consumer Health Care Payments (April 16, 2015)
Apple Pay is expanding its reach to the health care sector, where InstaMed has integrated the mobile payments service as an option for consumers making payments to hospitals, clinics, doctors’ offices and insurance companies.
World Bank Reports 20 Percent Drop in Unbanked Since 2011 (April 16, 2015)
The world’s unbanked population plummeted by 20 percent between 2011 and 2014, as 700 million adults became account holders, according to a new report from the World Bank.
Study shows 60% of banks’ digital assets on wrong side of firewalls
Security specialist RiskIQ says the growth in digital business is producing an increasing threat to banks across the world, with the largest banks owning an average of 7,500 public facing digital assets – 60% of which are outside the company firewall.
Report: American Express, Jawbone to Launch NFC Fitness Band (April 15, 2015)
American Express Co. is getting in on the expanding niche of wearable technology.
Canada’s Code of Conduct Expands to Include Mobile (April 15, 2015)
Canada’s Financial Consumer Agency this week has released amendments to Canada’s code of conduct for credit and debit card transactions that extend to mobile payments.
5 Signs Microsoft Will Launch Payments Service (April 14, 2015)
More signs point to the fact that Microsoft is preparing to brand its own payments service, but the tech giant’s approach could be much different than that of mobile wallet rivals Apple Pay, Samsung Pay and Google Inc.’s Android Pay, some observers suggest.
Blackhawk GoWallet Makes Checking Balances, Redeeming Gift Cards a Snap (April 14, 2015)
With Blackhawk Network’s GoWallet mobile app, consumers now are able to determine gift card balances by taking photos of their cards.
Ingo’s Hot Streak Continues with $13.5 Million Funding Round (April 14, 2015)
Fresh off a major acquisition and a 2015 Paybefore Award for Breakout Company of the Year, Ingo Money’s big year continued with this week’s closing of a $13.5 million funding round. Baltimore-based private equity firm Camden Partners co-led the round with venture capital firm MissionOG.
Amex ‘Facing’ the Future of M-Payments with Biometrics Plan (April 13, 2015)
Biometrics continue to make inroads into payments, with American Express testing new technology that uses facial recognition to authenticate mobile transactions.
TEB expands mobile banking to include live chats
Türk Ekonomi Bankası, one of the private sector commercial banks in Turkey, and a strategic partner of BNP Paribas, has launched an enhanced digital banking service featuring the ability to hold live chat sessions with bank staff.
India: MobiKwik Raises $25 Million; PIF India Renews Focus on Financial Inclusion (April 8, 2015)
With a fresh infusion of cash, Indian payment startup MobiKwik plans to invest in data analytics, brand building and growing its network of mobile wallet users and merchants, according to reports.
PayPal Closes Paydiant Deal, Expanding NFC Options (April 6, 2015)
PayPal has moved significantly closer to its goal of making its digital wallet “ubiquitous” for consumers paying online, via mobile devices and at the POS.
U.S. Leads Europe in E-Commerce, Quicker to Adopt Mobile (April 6, 2015)
The U.S. continues to lead e-commerce sales with expected revenue of $349.2 billion in 2015—compared with a combined $254 billion in projected sales in eight European countries, according to a report.
Fiserv: Billers Need to Catch Up with Customers’ Mobile Ways
Customer usage of mobile bill pay has grown substantially over the past year, but many billers aren’t keeping up with how their customers want to pay, according to the “Third Annual Biller Mobile Bill Pay Benchmark Study,” commissioned by Fiserv Inc., a global provider of financial services technology solutions.
Is ‘Microsoft Pay’ in the Works? (March 31, 2015)
Mobile wallet rivals for Apple Pay, including Samsung Pay and Google Inc.’s rumored Android Pay, may face another giant tech competitor. Microsoft Corp.’s latest moves suggest it may brand its own mobile payments service, too.
MasterCard Contactless Users in Asia-Pacific Increase 49 Percent (March 31, 2015)
Consumers in Asia-Pacific are taking to contactless payments in a big way, with the number of unique contactless users in 2014 up by 49 percent, compared with the previous year, according to MasterCard.
Fed Study: Mobile Banking, Deposit Use Growing Among Consumers (March 30, 2015)
More than half (51 percent) of mobile banking users in the U.S. had deposited a check using their mobile phones last year, up from 38 percent in 2013, according to the Federal Reserve’s latest study, “Consumers and Mobile Financial Services 2015.”
Bell ID supports ANZ New Zealand mobile app
Host card emulation specialist Bell ID is enabling the launch of ANZ New Zealand’s upgraded goMoney mobile app, which is set to feature a cloud-based HCE NFC mobile wallet. The project, for the New Zealand division of ANZ Bank, will bring contactless mobile payments to the smartphones of more than 120,000 ANZ customers. The ANZ […]
Monitise No Longer for Sale (March 25, 2015)
U.K.-based Monitise plc is no longer for sale.
Santander launches ISA mobile app
Santander has launched the UK’s first standalone ISA mobile app , which was designed and developed with mobile specialist company Monitise.
Türk Ekonomi Bankası to deploy HCE for contactless payments
Türk Ekonomi Bankası is to launch a mobile contactless payment application using Visa Europe’s host card emulation functionality to provide secure contactless payments.
Optimal Payments Makes €1.1 Billion Play for Skrill (March 23, 2015)
Two of Europe’s biggest e-commerce brands are coming together. Optimal Payments today announced plans to acquire rival Skrill Group for €1.1 billion (US$1.2 billion).
