More than 12.5 million Americans already are taking advantage of mobile bill payments, but the untapped potential of the market could be worth $2.1 trillion, according to a new report from Javelin Strategy & Research. That’s the total amount Javelin estimates Americans spend annually on seven essential bill types: open-loop credit cards, store-branded credit cards, […]
China’s miraculous economic catch up since reform and opening up has created an unprecedented generation of consumers. The way this generation has adopted the on-line world in China is very different from that in the West.
The value of international money transfers made via mobile phones will exceed $10bn for the first time this year, according to Juniper Research. However, the cost and complexity of regulating cash transfer has led many service providers to focus exclusively on airtime top ups, the research firm reported.
Japanese mobile telecom provider NTT Docomo is partnering with MasterCard to enable users of Docomo’s iD mobile wallet to make contactless purchases at 1.2 million MasterCard PayPass acceptance locations worldwide.
U.S. Bank next month will roll out Mobile Photo Balance Transfer, a feature from Mitek Systems enabling customers to apply for a credit card balance transfer by snapping a photo of a credit card bill with a smartphone and sending it to the bank. Standard credit card approval processes apply. The new service rounds out […]
A coffee shop in Vancouver, British Columbia, will be home this week to what some are hailing as the world’s first Bitcoin ATM, which can exchange cash for the controversial digital currency.
Fewer than one in four of UK consumers would use their smartphone like a credit card to make payments even if they had the relevant app, according to a new survey carried out by YouGov on behalf of outsourcing firm Firstsource Solutions.
Oct. 24, 2013 Mobile deposit capture took a big step toward mainstream adoption in the prepaid industry with the announcement this week that Ingo Money Inc.’s mobile deposit capture pilot with Visa, which began last year, is officially out of beta. Ingo Money’s service enables consumers to deposit checks into their Visa Prepaid card accounts by […]
Amid big transit rollouts in Chicago and Salt Lake City, Las Vegas is getting in on the action with a new pilot program enabling transit riders to pay bus fares with a tap.
Money2020 highlighted financial services technology innovation, as the biggest names from major payment companies, startups and investors convened to glimpse the future of payments.
FEXCO, a provider of financial transaction processing, foreign exchange and outsourcing services based in Ireland, has acquired mobile payments and loyalty startup FLASHiZ, with BNP Paribas Personal Finance taking a minority shareholder stake in the Luxembourg-based company.
MasterCard’s MasterPass digital wallet service will become available to thousands of e-commerce merchants across 17 countries in Europe and Asia beginning next month, through a partnership with Paris-based payments provider Worldline.
The global push toward NFC-based transit payments continues—this time in Rio de Janeiro, the site of a new pilot program enabling transit riders to tap mobile smartphones to pay on trains, buses and ferries.
China’s giant retail payments operator Alibaba Group this week announced plans to expand its Alipay online payment service to Taiwan and simultaneously unveiled key upgrades to Alipay’s digital wallet, significantly increasing customers’ options for online and offline purchases.
The second annual Money2020 in Las Vegas earlier this month had a vibe unlike payment conferences of the past, and not just because of the acrobats roaming around during networking sessions.
Please let me use your camera. Do you mind if I browse through your contacts so I know all your family and friends, and can call or text each at my discretion? To the uninitiated, these eerie questions read like a disturbed love note from a stalker. But these are common permissions requests for many mobile apps. Could they scare off users?
Square Inc. is wading into the crowded U.S. P2P field this week with Square Cash, taking a somewhat unique debit card-based approach versus competitors by enabling Visa and MasterCard debit cardholders to send funds to each other free of charge via email.
With the Isis digital wallet set to launch nationwide later this year, the companies behind the wallet are hoping a special launch promotion will sweeten the proposition for consumer adoption.
Joint Electronic Teller Services Limited (JETCO), along with its 30 member banks, announced plans to build a mobile payment platform that uses NFC technology.
The public is ready to adopt mobile payments in many aspects of their lives, but service providers need to have a defined role in the ecosystem and an understanding of how they interact with other players and the consumer.
Polish IT specialist Comarch has launched a mobile business banking solution aimed at banks that want to give corporates, SMEs and micro business customers a mobile offering.
Proposed new regulations from Kenya’s central bank could force leading telecom provider Safaricom to open its M-Pesa electronic money transfer service to other providers, possibly bringing an end to the company’s dominance of the Kenyan e-money market.
UK operator EE has launched mobile voice recording services to help UK organisations to fully comply with the FCA’s mobile trading regulations.
Google Wallet’s latest makeover—a revised mobile app pushing merchant offers through more channels that’s available now for the first time to Apple Inc.’s iPhone users—means millions more consumers may give it a try.
New head of prepaid speaks on his multifaceted career, his view on prepaid and why living in the Bay Area gives him a unique perspective on payments.
This week in Las Vegas more than 4,500 attendees gathered for the second annual Money2020 conference. Companies across the payments value chain took the opportunity to showcase their latest partnerships, technology or programs with a deluge of announcements charting the future of money.
As financial regulation on mobile phone recording grows ever tighter in Europe, a significant proportion of financial institutions still haven’t put in place any technology to handle it. They could be missing out, according to Steve Haworth, chief executive at computer telephony specialist TeleWare.
PayPal added another key piece to its POS strategy this week with the introduction of Payment Code, a QR code-based approach enabling consumers to pay by scanning the PayPal mobile app at checkout.
Turkey’s large unbanked population, relatively industry-friendly regulatory environment and growing popularity of payment cards, including prepaid and contactless, has made it an attractive and expanding market.
Coming to the US to tell an audience of payments specialists about how the UK has transformed its national infrastructure over the past five years with the introduction of an effectively real-time payment system might have been considered a rough assignment – what can the Brits teach the wider world, particularly the US, about payments […]
Don Kingsborough, vice president of retail and prepaid products at PayPal, had a clear message for Money2020 delegates in Las Vegas yesterday: “The future is actually now.”
Adoption of alternative payment mechanisms is growing more rapidly in developing economies as they leapfrog the legacy infrastructures deployed elsewhere.
Formed earlier this year, Zapp expects to launch next year with the backing of most of the major UK retail banks, Peter Keenan, chief executive of the venture, says that at the time of launch the Pay by Zapp service will be available to 40% of UK current account holders, and it will have the backing of 50% of the nation’s online and mobile retailers – including well-known brands.
The overwhelming majority of US consumers would not use a mobile wallet, according to a survey carried out by consultancy Consult Hyperion during September.
There comes a tipping point when market readiness, social behaviour and technology combine to create a sudden, ubiquitous change of behaviour. For mobile payments the tipping point may have arrived – but will there be a dominant solution?
Bitcoin is here to stay and will continue to grow, according to experts speaking on separate panels at Money2020 in Las Vegas.
Innovative and mobile-centric financial services are taking center stage this week at Money2020, which has drawn more than 4,500 attendees to Las Vegas.
American Express today announced a relaunch of its Serve prepaid account, packing the card with a raft of new features and benefits, including free cash-reload services at CVS and 7-Eleven stores nationwide, plus online bill payment and money management tools, for $1 a month.
When Isis, backed by AT&T Mobility, T-Mobile and Verizon, was announced nearly three years ago, Sprint was notably missing from the group of top U.S. telcos involved in the mobile wallet project.
Contact Solutions LLC today announced a new mobile platform to help cardholders access customer service when they want it and easily switch between self-service and a live agent.
