Many retailers selling products online continue to combat shopping cart abandonment and lost sales during the checkout process. Java giant Starbucks and big box chain Walmart are the latest retailers fighting back to convert consumers from browsers into buyers by making checkout easier for them.
Many millennials recognize the importance of saving but often find it difficult to follow through on actually setting aside funds.
Toronto-based fintech startup nanoPay is taking Canada another step toward delivering digital currency on a mass scale. Following a selection process of software developers charged with creating payment apps for the MintChip digital currency created by the Royal Canadian Mint, nanoPay today announced it has acquired all MintChip assets and was chosen to further expand MintChip acceptance.
Ford wants to links its cars with Amazon’s Alexa technology, enabling drivers more Web-connected control over their cars and homes. The move represents the latest development in the Internet of Things, which was a hot topic at last week’s Consumer Electronics Show in Las Vegas.
ADP has announced that its ALINE Card is integrated with Apple Pay, making the Paybefore Award-winning card one of the first prepaid cards in the mobile wallet.
After a hot 2015, fintech investment is off to a strong start in the New Year. In recent days, U.K. digital financial services provider Starling Bank and European retail banking disruptor Deposit Solutions each landed new financing, while global asset manager BlackRock acquired at least a 5 percent stake in New York City-based Square.
The holiday shopping season may be over, but Blackhawk Network remains in a buying mood.
Commuters hailing a cab in Singapore now can use MasterPass, MasterCard’s digital wallet, to pay their fares.
Smartphones accounted for 17 percent of online sales in the U.S. last year, beating out tablets, at 14 percent, according to the State of Retailing Online 2016, a widely cited annual report from Forrester Research Inc., Bizrate Insights and Shop.org, the e-commerce arm of the National Retail Federation trade group.
MasterCard wants consumers to use its cards and payment network to buy goods through their refrigerators and fitness devices, going by announcements made this week at the Consumer Electronics Show in Las Vegas.
Orange’s new partnership with Groupama enables the French telco to offer banking services with the launch of Orange Bank while beefing up Groupama’s online banking business. The partnership also could lead to Orange acquiring a 65 percent stake in Groupama Banque.
Latin American consumers will have more access to mobile payments through a deal between ABnote and MeaWallet. The move comes as more consumers in the region turn to mobile devices to access the Web.
Will the recently launched Mike Tyson Digital Wallet for bitcoin users be crowned the champ when other celebrity-endorsed payments products have failed to take hold? Bitcoin Direct is banking on Tyson’s endorsement of its digital wallet to become as synonymous as former boxing champ George Foreman and his grill.
Hot on the heels of its December Walmart Pay launch, retail giant Walmart is taking additional steps to speed up payments for shoppers. MasterCard announced today that Walmart will accept MasterPass in 2016 across its domestic online properties. The partnership suggests that even as retailers launch proprietary ways to pay, giving consumers more payment options will win out over exclusivity.
Millennials continue to show high interest in GPR prepaid cards and other alternative financial services—but they’re not turning their backs on banks, according to a new report from the Federal Reserve Bank of Philadelphia’s Payment Cards Center.
Idaho’s Department of Agriculture is the first government department to launch the eGovExpress digital wallet developed by Olathe, Kan.-based NIC Inc., provider of official government Web portals and digital government services for more than 3,500 federal, state and local government agencies.
PayPal’s One Touch, a fledgling mobile payments tool that enables quick purchases, has attracted 10 million users since its April launch, just as other mobile payment programs strive for dominance.
Rumors are beginning to swirl around Target developing its own m-wallet, but like Walmart, the retailer says it’s still committed to MCX’s CurrentC.
Chinese consumers soon will have a sizable selection of m-wallets to choose from as the country is becoming awash with big players in the m-wallet space. Both, Apple and Samsung Electronics, late last week announced deals with China UnionPay. Meanwhile, the road continues to be rocky for Apple in Australia, where banks have agreed to work with Android Pay, but not Apple Pay.
Users of the popular Dunkin’ Donuts payment and loyalty app now can use Apple Pay to purchase, gift or reload virtual Dunkin’ Donuts Cards to fuel the retailer’s mobile app. The integration began on Dec. 7, in time for the holiday gifting season and adds another use case for Apple Pay.
China-based payments giant UnionPay has launched QuickPass, a mobile payments service with more than 20 bank partners and acceptance at more than 10,000 retail locations. That deep roster of launch partners could help state-run UnionPay compete with privatelyheld players in the Chinese m-payments sector, most notably Alibaba and Tencent.
A new partnership between Germany’s Wirecard Group and Alipay will enable Chinese travelers to make POS payments in Europe using the Alipay mobile wallet. The initiative will give European brands and retailers access to the $165 billion Chinese tourism market—and Alipay’s more than 400 million active users.
Millennials – those highly sophisticated, tech-savvy men and women born between 1980 and 2000 – present enormous opportunities for banks and other financial institutions. Yet to be successful, these businesses must understand and meet the needs of a generation that grew up having it all, seeing it all, and being exposed to it all since early childhood – and that is no easy task.
With EMV technology increasing security for card-present transactions, fraudsters are shifting their focus to the card-not-present (CNP) environment, including online, mobile and phone purchases—but new market entrant Tender Armor has a plan to increase security for CNP transactions.
Consumers are hot for gift cards this holiday, but more are turning to online and mobile channels to purchase virtual and physical cards, new data from InComm show.
After adding a loyalty component to its mobile wallet last month, Canada-based suretap is working with mobile technology provider and sister company EnStream to test a program with the Société de transport de Montréal enabling commuters to pay transit fares using their mobile wallets.
As the global e-commerce market surges to $2.4 trillion by 2019, 23 percent of this total is expected to come exclusively from mobile devices, according to a recent study by Worldpay. The results for prepaid are a mixed bag, with closed-loop vouchers/cards booming and network branded card e-commerce volume expected to decline.
The sensors built into mobile devices offer a whole new way of identifying their users though biometric techniques, according to security expert Uri Rivner.
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.
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.
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 has expanded its roster of supported payment cards with the addition of eight new card issuers.
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.
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.
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.
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.
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.
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’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.
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.
