Second Menu

Author archives: Kaye Skinner

Microsoft enters the world of payments with Microsoft payments

Microsoft has officially entered into the domain of payments, with Microsoft Payments, it is rumoured. When the announcement came out a week or so ago, that Microsoft was entering into the world of payment (see references below), it was only natural to search the various State financial regulators websites for issuance of money transmitter licenses. Below is a screen shot from the… Continue reading >>

US mobile banking and mobile financial services

According to research from the Federal Reserve Board, nearly 40% of banked Americans now use their mobile phone to access their accounts. A survey of 2,900 people on behalf of the Fed shows that mobile phones have become ubiquitous; 87% of respondents have handsets, and 71% of these are smartphones, up from 61% a year earlier. Mobile phones have increasingly… Continue reading >>

Asia Pacific sees 49% growth in contactless payments

MasterCard has revealed that consumers across Asia/Pacific are embracing contactless payments, with the number of unique contactless users (or tappers) in 2014 growing by 49% year-on-year (YoY), in comparison to 2013. Australia leads the way with nearly two-thirds of all MasterCard in-store transactions being contactless. MasterCard Australia also experienced a 45% growth for unique tappers between 2013 and 2014. Singapore… Continue reading >>

UK is the global leader in contactless payments

According to a new research from Timetric, contactless payments have become a major tool for migrating consumer payments from cash to cards, particularly debit cards. “Contactless cards have gained popularity in the UK, contributing to the growth of payment cards transaction values over the last few years. Contactless technology is now a feature of around 60 million, or a third… Continue reading >>

Vodafone wallet to accept contactless card payments

Vodafone customers will soon be able to add bank cards to their Vodafone Wallet and use smartphones to pay for goods and services at contactless terminals. Following new agreements with Visa and Carta Worldwide, contactless card payments via Vodafone Wallet will be enabled in European markets from Q2 2015 onwards. This service, which requires a Vodafone NFC SIM, will be supported… Continue reading >>

Apple Pay simplicity raises fraud concerns

A recent rise in fraudulent Apple Pay transactions raises concerns among security analysts that the service’s simplicity may be a major weakness. Users only have to open the app on smartphones and enter a credit card number, the expiration date, and the verification code, and then Apple scores those users as safe or risky according to buying habits. The card-issuing… Continue reading >>

Differing forecasts for mobile wallet

Research and opinion on mobile payment trends contain conflicting predictions and conclusions, partly as a result of banks commissioning fewer market studies, leaving researchers to find a new starting point for evaluation, says consultant Steve Mott. For example, research from Auriemma Consulting Group found at least 42% of iPhone 6 and 6 Plus users have tried Apple Pay at least… Continue reading >>

PayPal fined £5.2m over failure to block malicious users

In an embarrassing moment, PayPal has been forced to pay a £5.2 million ($7.7 million) settlement over alleged sanctions violations including allegations that it processed payments for a man involved in the black market for nuclear weapons technology. PayPal, which is owned by eBay, is alleged to have facilitated thousands of pounds worth of transactions involving goods and services going to… Continue reading >>

Middle aged men most likely fraud victims

Recorded fraud victims increased by 25% last year, according to the latest report from the UK fraud prevention service, Cifas, published today. In total there were 276,993 frauds recorded in 2014, compared to 221,075 in 2013. The single biggest threat continues to be identity fraud – 41% of all frauds recorded in 2014 fall into this category. Identity fraud is… Continue reading >>

ANZ bank integrate HCE wallet

ANZ has announced it will release an HCE mobile wallet application later this year as an upgrade to its popular goMoney app in New Zealand. Available to around 120,000 customers at launch, the wallet enhancement to ANZ goMoney will enable customers to make contactless payments with just one tap of their Android smart phones. Liz Maguire, ANZ’s head of digital channels and… Continue reading >>