Basic security mechanisms in payment and banking systems are poorly applied and are out-gunned by the resources available to cybercriminals, a session at the Money2020 event in Las Vegas was told.
Crowdfunding—a term used for a group of people pooling their money, typically through Websites, to support projects—is being used to help finance everything from films to NFC-enabled jewelry.
Australian debit card system eftpos has contracted Jacksonville, Fla.-based FIS to build out a new centralized payments hub.
A new survey suggests most consumers don’t want mobile wallets, but many were skeptical about the Internet, at first.
Once again, NFC is in the news for more of what didn’t happen than for what did. Despite the rumors that Apple would put NFC in its new security-minded iPhone 5S, the annual iPhone new model release announcement came and went without a mention of NFC.
Loyalty is key to business success – and banks that can bring data and technology to bear to achieve it stand to gain the most, writes Sameet Gupte, senior vice president and managing director for Europe at IT consulting and outsourcing company Virtusa Corporation.
SIMalliance, a London-based nonprofit trade association supporting the creation, deployment and management of secure mobile services and applications, announced that Frédéric Vasnier has been reelected to serve a one-year term as chairman.
The NFC Forum, a nonprofit industry association supporting the use of near field communication technology, announced that Paula Hunter has been named executive director.
The time has come to agree on a simpler way to use and store digital payment credentials, a trio of payment networks said today.
National Australia Bank has launched NAB Flik, a P2P payments app that enables customers to send and receive money using a mobile phone number, email or Facebook account.
The partnerships banks are forming with financial technology suppliers today look very different than routine client-vendor relationships of past decades, and one of the most interesting aspects of the trend is how both sides are transforming each other.
By Charnsin Tulyasathien, epay
The mobile space has changed—from the early, “Wild West” days where subscribers represented land, and service providers represented pioneers grabbing as much as they could.
Why prepaid is a winning play for casinos and their customers
By Alpesh Shah, FIS
It’s official; eBay Inc. has announced it will acquire e-commerce processor Braintree Payment Solutions in an $800 million deal that will bring Chicago-based Braintree under eBay’s PayPal business unit. The two companies were reported to be in negotiations for a sale earlier this week. With the purchase agreement in place, PayPal gains Braintree’s more than […]
Capitalizing on explosive growth in the m-POS arena, Square this week announced an integration with Intuit Inc.’s popular QuickBooks business and financial management software, enabling users of Square’s m-POS solutions to automatically import transactions directly into QuickBooks to streamline their operations.
Zagat, known for its ratings guide for restaurants and nightlife, has launched the Zagat Dining Card, an electronic gift card currently accepted at nearly 230 restaurants in New York City.
The Consumer Financial Protection Bureau (CFPB) is most successful when it solicits wide-ranging input before issuing guidance; when the agency doesn’t is when it could falter, according to a new report by the nonprofit organization Bipartisan Policy Center (BPC).
Visa Europe’s decision to place its internal and external communications networks into the hands of BT will help the firm to realise economies of scale and offer a more efficient service to customers, according to Chris Pickles, Head of industry initiatives at BT.
Europe-headquartered mobile payments provider payleven has inked a deal to make the company’s mobile payment card reader system available to clients of Italian bank BancoPosta.
Google Wallet has cracked the iPhone barrier, proving, some would say, there’s no reason to wait for NFC to advance mobile payments.
Younger consumers likely will lead the charge toward mobile payments ubiquity over the coming years, but they have certain expectations that must be met by providers who seek to harness that demand, according to a new report from payments processor Vantiv Inc.
With customers expecting consistent service across all channels, banks must step up to the plate and streamline their processes when it comes to customer interaction. Using the omnichannel approach, they’ll also reap the rewards of better customer intelligence and a clear idea of how best to spend precious budgets.
Houston-based provider launches bill pay/mobile app combo as ‘ideal hook’ to establish customer relationship that expands to other financial services, including prepaid.
New technologies are transforming the consumer experience in retailing and in banking. For banks to remain relevant, they need to work with innovators, writes Paul Skeldon
Barclays is making a determined effort to capitalise on the two-year lead it has built up with its Pingit mobile payments application with two new applications intended to allow retailers to integrate mobile payments into their services.
Standard Chartered has launched a mobile wallet service targeted at corporate clients in Kenya. The service has been developed in partnership with Safaricom, which operates the mobile money transfer service M-Pesa. The bank hopes the deal will herald the start of a major drive to open up financial inclusion in emerging markets.
The partnerships banks are forming with financial technology suppliers today look very different than routine client-vendor relationships of past decades, and one of the most interesting aspects of the trend is how both sides are transforming each other.
Visa’s Japanese subsidiary Visa Worldwide (Japan) Co. is joining with mobile telecom provider NTT Docomo Inc. to launch what the companies are calling Japan’s first mobile-based virtual prepaid card for online shopping.
Capital One Financial Corp. this week ends its trial run with the Isis Mobile Wallet, raising questions about what combination of payment cards Isis will have when the wallet officially launches later this year.
Users of Barclays Pingit U.K. mobile money transfer app have two new ways to make online purchases, with a pair of features being launched this week.
Prepaid accounted for the strongest growth rate in gross dollar volume (GDV) for all payment card types during the first half of this year for MasterCard Worldwide, as prepaid card use cases expanded worldwide, the network told investors yesterday.
Sprint’s Boost Mobile Wallet users now have a way to turn checks into instant funds with a new service dubbed Quick Check, which uses remote deposit capture to deposit checks into customers’ wallet accounts.
Mary Monahan, Javelin Strategy & Research
Microsoft’s canny purchase of Nokia for the bargain price of $7.2 billion reopens the rumors that Stephen Elop’s move to Nokia was a Trojan horse, intended to open the doors to the announcement last week.
By John Dancu, IDology Fraud? Oh no … couldn’t happen to me! Is that how you or your organization approaches potential fraud? Well … if it is, it might be time to take a closer look. In our recent “Fraud Report,” which polled senior executives from our customer base of financial service providers and companies […]
PayPal could give mobile commerce a big boost with the introduction of PayPal Beacon, a service it’s piloting this fall that will enable customers who opt in to pay “hands-free” with their PayPal mobile apps at participating merchants.
Two major mass transit contactless payment initiatives are speeding forward this week, with the debut of Chicago’s Ventra system and the announcement of a smartphone-based payment feature for Hong Kong’s transit network.
Japanese banking group Sumitomo Mistui will launch a new NFC payment service that will be available through all three of the country’s mobile network operators and more than 30 NFC-enabled smartphone models.
PayPal is making a splash with a redesign of its mobile app that pulls together several of the company’s latest initiatives into a digital wallet emphasizing consumer benefits, including instant discounts and the ability to pay at the POS.
Vodafone and Visa are teaming up to launch an NFC-based mobile payment pilot in New Zealand.
Delta Air Lines has equipped more than 19,000 of its flight attendants with Nokia Lumina mobile devices with mobile POS capability for the airline’s new in-flight purchase program.
