Blog: The Top Four Mobile Musts in 2014
From smartwatches to voice-recognition capabilities, 2014 promises to be mobile’s best year yet. And these and other mobile trends will influence payments and financial services innovation.
Mobile
Cannabis Sales Set To Go Mobile (Feb. 5, 2014)
SinglePoint Inc. has developed Mobile Cannabis Currency, a mobile payment system branded for the cannabis and medical marijuana industry, enabling merchants to accept credit card payments using their mobile phones.
Australian Investment Firm Bets Big on Mint Wireless (Feb. 4, 2014)
Australia is lighting up as the next hotbed of m-POS activity as Mint Wireless makes key moves to target a fast-growing base of small businesses going mobile and Square Inc. reportedly is considering expansion Down Under.
Monitise targets Turkish mobile money
Mobile money firm Monitise has acquired Pozitron Yazilim, an Istanbul-based mobile technology specialist, in a £24 million all-shares deal that highlights the growing demand for mobile financial services in the eastern Mediterranean’s largest market.
RBC Launches Facebook-based P2P Service for iPhone (Feb. 3, 2014)
Could Royal Bank of Canada (RBC) make a breakthrough with P2P by making it a cinch to send funds to Facebook friends?
Latest Monitise Acquisition Accelerates Mobile Money Capabilities (Feb. 3, 2014)
Monitise plc has acquired Pozitron Yazilim A.S., an Istanbul-based, privately owned mobile technology company.
U.S. Bank Testing Voice-Based Biometrics for Mobile Financial Services (Jan. 30, 2014)
U.S. Bank is testing a voice-based biometrics mobile banking feature that could foreshadow the future of mobile payments if consumers warm up to it, Dominic Venturo, chief innovation officer at U.S. Bank, told attendees today at the Card Innovation Summit in Tempe, Ariz.
European Department Store Giant Goes Contactless (Jan. 28, 2014)
Madrid-based El Corte Inglés, Europe’s largest department store chain, this year plans to upgrade the majority of its POS terminals to accept contactless payments from NFC-enabled cards and handsets.
WSJ: Apple Laying Groundwork for Mobile Payments Platform (Jan. 27, 2014)
Apple Inc. is making plans to launch a mobile wallet service for its iPhone, iPad and iTunes users, according to a Jan. 24 Wall Street Journal report.
T-Mobile Enters Prepaid to Serve Unbanked Customers, Increase Stickiness (Jan. 23, 2014)
T-Mobile USA Inc. this week became the first major U.S. mobile carrier to enter the GPR prepaid arena with Mobile Money by T-Mobile, a new smartphone application and accompanying Visa prepaid card.
Report: New Case to Give iPhone Users Access to NFC, Isis (Jan. 23, 2014)
With the Isis mobile wallet now live across the U.S., iPhone users remain unable to use the wallet to make contactless in-store purchases due to the handset’s lack of NFC capability.
Toyota to Offer Mobile Car Payments through Pingit (Jan. 23, 2014)
Toyota owners in the U.K. can make car payments via mobile device, now that the automaker has signed on with the Barclays Pingit mobile payment app.
Mobile Solutions Can Assist Underbanked Consumers
According to a report from the Federal Reserve Bank of Boston, innovative mobile banking features can help underserved consumers obtain safe, secure and convenient options that foster financial inclusion.
Visa’s V.me Nears Full Commercial Rollout, Adding Countries and Merchants
As the push to minimize steps for consumers inputting card data when making online and mobile purchases gathers steam, competition among digital wallets is intensifying.
Five Minutes with First Data
Paybefore chats with First Data’s Ben Love to get some insight into the company’s recent moves, as well as the future of payments.
As Customers Move to Mobile, BofA to Shutter More Branches (Jan. 16, 2014)
Bank of America may close up to 150 branches by the end of the year as the bank’s heavy investment into mobile banking continues to bear fruit, the company said.
O2 discards unattractive wallet
UK operator O2 has revealed that its O2 Wallet service, which closed last week, was a casualty of the pace of development in the fast moving mobile payments space.
Transit Systems in Washington D.C., Chicago Testing NFC Payments (Jan. 15, 2014)
Contactless transit payment is coming to the nation’s capital.
Five U.K. Banks to Offer Zapp’s Mobile Payments Service (Jan. 15, 2014)
Zapp has partnered with five banks in the U.K. that have approximately 18 million customers combined to provide the financial institutions with its mobile payments service.
RBC, Bell Wallet Now Live in Canada (Jan. 13, 2014)
Royal Bank of Canada and telecom provider Bell Canada have gone live with a mobile payment system that enables RBC customers to make purchases online and in stores using NFC-compatible smartphones over Bell’s mobile network.
Generation Y leads UK towards mobile banking
Nearly two-thirds (64%) of UK current account holders would prefer to bank online or via a mobile app than via telephone or in-branch banking (29%), according to a recent survey by YouGov and business process specialist Genpact.
Breaking News – U.K.’s O2 Wallet Shuts Down after 18 Months (Jan. 9, 2014)
O2 Wallet, which made a splash when it launched in April 2012 as the U.K.’s first mobile wallet, is shutting down after just 18 months.
PayPal in Asia Launches ‘mo.bi.pay’ Website Checkout Feature for SMBs (Jan. 9, 2014)
PayPal is making it easier for small and midsize businesses to add mobile payment capabilities to existing Websites with mo.bi.pay, a new service announced this week.
Belgian bank offers real-time tools to mobile users
Belgium’s Record Bank has introduced a new mobile banking platform that it says will help customers better manage their money in real time. The features of the new mobile banking service include SEPA payment abilities and the ability for customers to check the status, transaction history and details of their own account. Established in 2001, […]
Japanese mobile payments hold promise reports Celent
Japan’s evolving payments industry offers an opportunity for financial institutions and card issuers to capitalise on mobile technology and card schemes, according to a new report by analyst firm Celent.
More mobile please – but make it relevant
The likes and dislikes of mobile banking customers around the world suggest that there is an opportunity to expand mobile services globally – but providers need to be careful they are targeting the right information to the right people, according to a new survey by analytics firm FICO.
Spindle Closes Yowza!! Deal Combining M-Payments with Couponing (Jan. 6, 2014)
Mobile payments tech company Spindle Inc. today announced it’s closed a deal to buy Yowza!!, a Los Angeles-based mobile couponing platform, adding some scale to Spindle’s service.
Bank Alfalah introduces mobile money service in Pakistan
Pakistani Bank Alfalah has teamed up with operator Warid Telecom to launch a mobile money service. The service, Mobile Paisa, will initially enable users to make utility bill payments and secure money transfers across Pakistan.
PayPal Buys StackMob in Latest ‘Talent Buy’ (Dec. 19, 2013)
PayPal’s acquisition this week of StackMob, which provides a mobile payments development platform, is the latest in a series of deals bringing in top talent and new technology to enhance payment options PayPal offers to its diverse array of customers.
MasterCard takes controlling stake in mobile remittance service
MasterCard has teamed up with mobile payment solutions provider eServGlobal and Belgacom’s carrier services unit BICS to extend the capabilities of their international mobile remittance platform HomeSend. The three firms have set up a joint venture which uses the HomeSend platform, in which MasterCard will have a controlling share.
2014: a good year for the fraudsters
2014 looks to be a good year for fraudsters as government and law enforcement struggle to come to terms with the issues and the continuing spread of mobile continues to offer them poorly-protected targets.
Amazon Reportedly Buying Mobile Payment Startup GoPago (Dec. 17, 2013)
Amazon may have purchased San Francisco-based GoPago Inc., a mobile payment startup whose technology enables merchants to process card payments so consumers can order and pay ahead with a smartphone, skipping lines at the checkout, according reports from several media outlets.
La Caixa to Launch M-Payments Service in Spain (Dec. 17, 2013)
La Caixa, the Barcelona, Spain-based financial institution, has announced the launch of an NFC-based mobile payments service in partnership with Telefónica, Vodafone, Orange and Visa Europe.
Vodafone Begins German Rollout of Mobile Wallet (Dec. 16, 2013)
Vodafone Germany last Friday began its German launch of a mobile wallet with the integrated Vodafone SmartPass Visa payment application.
Wells Fargo Joins Isis Fold (Dec. 16, 2013)
One month after going live throughout the U.S., the Isis mobile wallet has added Wells Fargo to its roster of bank partners, enabling holders of the bank’s Visa consumer credit cards to load their cards onto the NFC-based wallet.
Cachet Financial, YellowPepper Provide RDC Service to Latin America (Dec. 12, 2013)
Cachet Financial Solutions, a Minneapolis-based provider of remote deposit capture (RDC) solutions, will be providing consumers in Latin America with RDC services for YEPEX, the mobile banking network of YellowPepper Mobile Financial Network.
PreCash’s Evolve Money Adds Card Funding Option; Gen Y Driving Mobile Bill Pay (Dec. 12, 2013)
PreCash is expanding its Evolve Money online and mobile bill pay app by enabling customers to pay bills using debit and prepaid cards, in addition to cash.
PayPal President Plans Consumer Marketing Push; Gives Nod to Bitcoin, Frowns on NFC (Dec. 10, 2013)
PayPal is bullish on Bitcoin, negative on NFC and ready to begin a major marketing push of the company’s buildup of mobile payment technology at the POS, according to David Marcus, PayPal president.
Payments Startup Clinkle Sheds Quarter of Staff (Dec. 10, 2013)
Clinkle Corp., the darling of investors and the media in recent months, appears to have hit some potholes on the road to launching a payment app that reportedly enables users to transfer funds between individuals and groups, and emphasizes social media.
Fortumo Takes Mobile Billing to 4th-Largest Consumer Market (Dec. 10, 2013)
Mobile carrier billing company Fortumo today is launching mobile operator billing in Indonesia, the fourth-largest country in the world by population.
