One American in three uses mobile banking
One in three US adults now uses mobile banking in their day to day lives– a rise of almost double since 2011, according to new research from the US Pew Research Centre.
Mobile
Isis Links with Amex’s Serve; Expands Chase Connection (Aug. 12, 2013)
Aug. 12, 2013 American Express Co.’s prepaid brand Serve will get a slot in the Isis mobile wallet when the mobile commerce venture rolls out nationally later this year, which could boost Serve’s awareness among its intended audience of underbanked consumers. Today JPMorgan Chase & Co. also said it plans to expand its relationship with […]
PayPal Unveils Facial Verification for In-Store Payments (Aug. 12, 2013)
Aug. 12, 2013 Shoppers in the London borough of Richmond now can use their photos to verify their identity when making in-store purchases with PayPal’s mobile app. A new pilot in the company’s U.K. home base enables a user to find nearby shops and restaurants that accept PayPal, then check in by clicking on the […]
Google Wallet Removing NFC Loyalty, Gift Redemption (Aug. 12, 2013)
Aug. 12, 2013 Google is discontinuing NFC redemption for gift and loyalty cards stored in Google Wallet. Late last week, the company sent an email to users who had added gift or loyalty cards to their Wallet app, saying NFC redemption of such cards will end on Aug. 21. Cardholders have until that date to […]
Kearny Federal Savings Bank installs Fiserv mobile banking tools
US-based Kearny Federal Savings Bank has chosen to install bank processing and mobile payments technology from specialist firm Fiserv, which it says will help the bank increase efficiency and attract new customers.
NFC: Yes, No or Maybe?
Industry experts air their opinions in the ongoing debate about whether NFC will dominate mobile payments. By Kate Fitzgerald, Emerging Payments Editor From the moment near field communication (NFC) popped onto the payments industry radar about a decade ago, debate has sizzled around if, when and how it could revolutionize payments—adding a powerful stream of […]
Industry Views: Card Manufacturers Talk EMV (Pay Magazine, Spring 2013)
Although the network EMV liability shift is about two years out, card manufacturers already are consulting with their U.S. issuing clients to help them make decisions now about how they will approach the transition to EMV.
New PreCash Platform Aims to Fix ‘Broken’ Online Bill Pay Experience (Aug. 8, 2013)
Aug. 8, 2013 Payments processor PreCash has unveiled a new virtual payments platform the Houston company says will help fix the “broken” consumer online and mobile bill payment experience. Dubbed PreCash PayConnect, the new platform is built on PreCash’s cloud-based processing system and offers mobile and online payment for more than 10,000 service providers, including […]
France’s railway network adopts mobile payments
French railway operator SNCF has adopted a mobile payments system from Californian tech firm VeriFone Systems, which allows customers to pay for railway tickets using a mobile device.
Orange sets out Botswana mobile payments deal with Visa
Telecoms firm Orange is planning to launch a set of mobile payment services in Botswana and other countries in Africa and the Middle East, which it says will easy access to funds around the clock and bring new point of sale, online and ATM transaction options to customers.
Western Union debuts Nigerian mobile money transfer
Western Union has launched a mobile money service in Nigeria, which it says will help boost financial inclusion and provide new methods of money transfer for people sending and receiving money to Africa.
Norwegian Telecom, Bank Plan NFC-Based Wallet (Aug. 6, 2013)
Aug. 6, 2013 Norwegian telecom provider Telenor and DNB, the country’s largest bank, are teaming up to launch an NFC-based mobile wallet. Dubbed Valyou, the wallet is managed through a smartphone app that enables users to make purchases up to NOK200 (US$33.76) via contactless tap; for higher amounts, users must enter a PIN. After a […]
Study: M-Payments Gain Traction with SMBs (Aug. 6, 2013)
Aug. 6, 2013 A growing number of small and midsize businesses (SMBs) are using m-payments and social networks to improve efficiencies and increase customer traffic. Forty percent of businesses surveyed accept POS payments using a mobile card reader attached to a smartphone or tablet, and 16 percent of respondents plan to add this capability within […]
IDT Eyes Latin America, Beyond with New Remittance Service (Aug. 5, 2013)
Aug. 5, 2013 Telecom and payment services provider IDT Corp. has added a new international money transfer service to its Boss Revolution payment platform. The remittance service currently is live for recipients in Mexico, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua and Panama. IDT Payment Services—the IDT Corp. subsidiary that runs Boss Revolution—said within […]
Isis Readies National Rollout, iPhone ‘Support’ Coming (Aug. 1, 2013)
Aug. 1, 2013 Isis may be the first whole-ecosystem mobile payments system to go national when it expands to all regions later this year, and begins its toughest challenge yet: building scale. The NFC-based mobile wallet venture, led by AT&T Mobility, T-Mobile U.S. and Verizon Wireless, on July 30 announced plans to roll out across […]
MasterPass Begins Global Expansion with U.K. Debut (Aug. 1, 2013)
Aug. 1, 2013 MasterCard is bringing its MasterPass digital wallet to the U.K., with several major retailers onboard as launch partners. The cloud-based service, available since earlier this year in the U.S., Canada and Australia, enables consumers to store payment and loyalty card information, along with shipping and billing address details, and make purchases online […]
Carrier billing gains traction among UK mobile phone operators
All of the UK’s mobile network operators have extended their carrier billing offerings by connecting to Gemalto’s direct billing platform, the mobile security solutions provider announced.
Breaking News: Merchants Get Big Win on Interchange/Routing; Court Calls for Fed to Revise Rule (July 31, 2013)
July 31, 2013 Merchants, which have continued to oppose the Durbin interchange fee caps set by the Fed, won a huge victory in court today. U.S. District Judge Richard Leon in Washington, D.C., ruled that the Federal Reserve Board of Governors overreached in its interchange and network routing rulemaking. The decision, which, if upheld, will […]
Innovators’ Spotlight: Waspit Group Inc
With an evolved platform and new B2B focus, NYC firm is making a buzz in “Engagement Banking”.
Survey: AML, OFAC Compliance Costs Rising for FIs Worldwide (July 2013)
By Kate Fitzgerald, Emerging Payments Editor The cost of complying with anti-money laundering (AML) rules and requirements is rising, just as the expansion of related anti-bribery and corruption laws around the world is placing unique new demands on global financial organizations, according to a new survey. International banks are devoting more personnel, departmental resources and […]
Survey: 66 Percent of Companies Report Suspected Fraud Attempts in Past Year (July 29, 2013)
July 29, 2013 Two-thirds of companies in a variety of sectors reported suspected fraud attempts in the last 12 months, according to a report by IDology Inc., an Atlanta-based identity-verification company. More than one-third of respondents reported that these suspected attempts have increased in the last year, according to the survey’s findings, while 50 percent […]
Stopping Tax Refund Fraud in Its Tracks (June 2013)
Strong customer authentication and account monitoring are keys to preventing tax refund/benefits fraud on prepaid cards. By Loraine DeBonis, Editor-in-Chief As identity theft increases in the digital age, fraud perpetrated with stolen identities has risen dramatically. And, tax refunds have become a target for fraudsters. Tax-related identity theft jumped more than 650 percent between 2008 and […]
People on the Move: Board of Directors, SIMalliance (July 2013)
July 2013 SIMalliance, a London-based nonprofit trade association supporting the creation, deployment and management of secure mobile services and applications, has announced its board of directors for the next 12 months. The four permanent SIMalliance board seats, retained by the founding SIMalliance member organizations, will continue to be served by: Frédéric Vasnier, senior vice president, […]
People on the Move: Kurt Weiss and Conrad Sheehan, C-SAM (July 2013)
July 2013 C-SAM, a Chicago-based provider of mobile transactions technology, has announced that Kurt Weiss and Conrad Sheehan have joined the company as managing director of global financial institutions and vice president and general manager of strategic initiatives, respectively. Weiss will work closely with financial institutions and networks deploying C-SAM’s mobile transaction platform, which enables […]
Digital money, mobile wallets & Latin America
In our world of 100%+ mobile penetration, companies in Latin America will soon need to think like their next wave of prospective customers, most of whom are unbanked. This means understanding their lifestyles, habits and needs in order to decide how to best generate value.
Prepaid, Mobile and Online Payments Poised for Growth in Canada (July 29, 2013)
July 29, 2013 Cash will be knocked out of its position as the No. 1 form of payment in Canada within the next five years, if present growth trends in mobile, prepaid and online payments continue, a new report suggests. All forms of electronic payment are experiencing substantial growth in Canada as consumers’ use of […]
Survey: 66 Percent of Companies Report Suspected Fraud Attempts in Past Year (July 29, 2013)
July 29, 2013 Two-thirds of companies in a variety of sectors reported suspected fraud attempts in the last 12 months, according to a report by IDology Inc., an Atlanta-based identity-verification company. More than one-third of respondents reported that these suspected attempts have increased in the last year, according to the survey’s findings, while 50 percent […]
Orange uses Total network to extend money service
Orange and oil and gas group Total have forged a partnership in Africa and the Middle East, providing access to Orange Money services at all Total service stations in the regions, spanning a total of 13 countries to date.
Kalixa NFC mobile wallet targets Europe
A mobile wallet offering built by Kalixa Group claims to be able to turn just about any phone – including the iPhone – into an NFC payment device. The toolkit has launched in the UK, marking the first step in the firm’s plans for Europe-wide NFC mobile payments.
MicroSD Powers New U.K. Mobile Wallet (July 23, 2013)
July 23, 2013 A new smartphone-based prepaid wallet launching in the U.K. will enable iPhone and Android users to pay for in-store purchases via tap using NFC technology. First launched in the U.S. last August, the Paybefore Award-winning moneto digital wallet is a joint venture between Kalixa Group, DeviceFidelity and MasterCard. The wallet is powered […]
PFS Bringing Prepaid MasterCard to Slovenia (July 23, 2013)
July 23, 2013 A new prepaid MasterCard is coming to Slovenia, now that Prepaid Financial Services (PFS) has unveiled what it calls the nation’s first domestically issued prepaid card bearing the MasterCard brand. The SmartPayCard Prepaid MasterCard is available in two versions: SmartPayCard Simple, a non-reloadable virtual prepaid card, which can be loaded up to […]
India’s ICICI takes aim at Indian mobile payments
India’s ICICI Bank is to launch a mobile payments service built by Movida, the Indian joint venture between Visa and mobile money specialist firm Monitise, that will draw on the potential to reach unbanked customers in the country.
Mobile payments deadlock begins to unravel as EE debuts Cash on Tap
Mobile operator EE is launching a UK mobile payments service called Cash on Tap, in a move that highlights recent efforts across Europe to make mobile payments a reality.
U.S. Bank Connects Square to Digital Wallet Options (July 22, 2013)
July 22, 2013 With its latest move making it easier for customers to pay using the Square Inc. mobile app, U.S. Bank left no doubt it plans to support multiple digital wallet providers. The Minneapolis bank last week announced that its customers may link a credit, debit or prepaid card to the Square app within […]
InComm Announces Cabela Deal; Blackhawk to Roll Out Gift Card Malls in Home Depot (July 22, 2013)
July 22, 2013 Two distribution deals in the last week promise to increase prepaid card availability for consumers. InComm announced it will be distributing gift cards for Cabela’s through its retail distribution network of 225,000 locations, while rival Blackhawk Network will be rolling out its Gift Card Mall in U.S. Home Depot locations this year. […]
Slovakia shapes up as centre of excellence for mobile payments
The on-going turf wars that have held back the adoption of using mobile phones as a payment device at the point-of-sale will soon be a thing of the past if the progress made in Bratislava over the past year is any indication. The success of a project involving Visa Europe, Tatra Bank, Telefónica Slovakia’s O2 operation and a substantial number of retailers makes the Slovakian capital a showcase market for contactless technology.
InComm Expands Digital Offerings in Stores, on Web (July 18, 2013)
July 18, 2013 The shift to omnichannel retail continues as InComm this week rolled out a pair of services to enable the prepaid provider’s client companies to expand their digital product offerings in stores and on the Web. InComm’s new in-store digital sales program opens the door for merchants to offer products such as downloadable music, […]
People on the Move: Ivo Weevers, Virtual Piggy Inc. (July 2013)
July 2013 Virtual Piggy Inc., a Hermosa Beach, Calif.-based provider of e-commerce solutions enabling children to manage and spend money within a parent-controlled environment, has appointed Ivo Weevers creative director, mobile design, to lead and manage the mobile consumer experience team. He has 15 years of experience creating highly successful mobile, Web, device and desktop […]
1 + 1 = $1 Trillion in Card Payments: The Gold Rush for Micro and Small Business (July 2013)
The surge in new mPOS tools and e-commerce options for micro and small businesses represents a significant growth opportunity to a diverse array of payments industry players. By Kate Fitzgerald, Emerging Payments Editor Local dog-sitters, dry cleaners and doughnut shops could become as important as gold nuggets to payments industry providers that recognize their potential […]
Industry Views: Building Long-Term Cardholder Relationships with Financial Literacy
Despite what you’ve been seeing in the mainstream media recently, many prepaid card providers have not only lowered fees in the last few years but many are educating cardholders about how to avoid fees altogether.
