A new study from Juniper Research is forecasting that more than half (53 percent) of global transactions at the point of sale will be contactless within five years, compared with just 15 percent this year.
Mobile contactless transactions in the U.K. topped £370 million (US$476 million) in the first six months of 2017, a whopping 336 percent year-on-year increase, according to the latest transaction data from payments processor Worldpay. (Infographic included.)
The payments industry invitation to merchants to play a bigger role in innovation seems serious and pragmatic, writes our senior editor, an e-commerce expert.
The world has been talking about “mobile payments” for years, but the phrase means different things to different people. So what exactly are mobile payments? And how much more mobile than cash or cards can payments actually get, asks Philipp Nieland, co-founder and CTO of PPRO Group. Some people believe that mobile payments are those […]
NFC mobile payments continue to grab headlines, but to really drive uptake and ensure full market coverage, combining contactless cards with next-gen mobile banking apps is surely the right way to go for 2016’s challenger banks, says Paul Underwood, MD of Thames Card Technology. Much has already been said about the opportunity for challenger banks to […]
Ever since the deployment of Apple’s NFC solution – ‘Apple Pay’, and the various competitors launches since, there’s been speculation around what the future holds for consumer payments and how security will impact it
Apple may have lined up the chief executives of Bank of America and JP Morgan Chase to laud the launch of Apple Pay, but reaction from the wider industry was more muted – disappointed, even.
With the penetration of mobile devices, such as smartphones and tablets constantly growing, attention is increasingly turning to mobile marketing, mobile commerce and mobile payments. It is still the case, however, that these trends are largely played out in specialised media, and do not influence the actual behaviour of consumers. This is especially true for mobile payments, with consumers very sceptical about this concept
Mobile NFC services continued to expand in 2013 but the big question is, will this be amplified or disrupted by the introduction of host-based card emulation (HCE) into mainstream operating systems?
The annual transaction value of online, mobile and contactless payments will nearly double over the next four years, reaching $4.7 trillion by 2019, up from just over $2.5 trillion this year, with contactless payments primarily driven by card purchases rather than mobile.
Canada is seeing a fresh push to promote near field communication (NFC) services after Canadian cooperative financial group Desjardin signed a deal with mobile money solutions provider Monitise and a joint venture with the nation’s three largest mobile operators.
The past few years have seen major changes to the way we make low value payments, from pre-paid wallets such as the Oyster Card through to contactless cards in retail transactions – thanks to Near Field Communication devices.
NFC is gradually beginning to overcome the obstacles that have held back development. Banks should prepare for the coming upswing in usage, according to a new report by financial research firm Celent.
NFC technology advocates face continued disappointment in 2013 as it is likely to be overshadowed by other developments in retail payments, according to a new report by financial research firm Celent.
Mobile and NFC payment technologies have been on the rise in recent years. But with many merchants and retail outlets still reluctant to invest in the new technologies, and with the rise of fraud in existing solutions, industry participants are divided over how and whether the technology will ever gain widespread acceptance in developed markets.
