How social are you? Social media and the payments industry

The saying that a reputation takes years to build and seconds to destroy was ahead of its time. With a new story of a household brand name, or an individual, falling foul of social media seemingly surfacing every week, it is surprising that so many companies have launched campaigns using what is now an essential digital channel for many marketing professionals.

A new study by Eurasia Insights and Payments Cards & Mobile that analyses use of social media by the payments industry, similarly reveals a sector that is eager to understand how to leverage the channel for commercial customers but is uncertain about how best to go about it or monitor its impact. Continue reading

Mobile Payments Can Expose More Consumer Data and Weaken Privacy Laws

Get ready for mobile payments to change how we make in-store purchases and how companies collect information about us. Nearly all the major smartphone manufacturers, Internet service providers (ISPs), credit card issuers, and tech companies are gearing up to provide consumers with mobile payment services. Many of these services will let consumers buy items in brick-and-mortar stores just by swipingtheir phones at checkout.

While this will create interesting and convenient new apps, mobile payments will also provide more consumer data to more companies than traditional offline credit card transactions. Without strong user privacy controls, mobile payments may turn your cell phone into a magnet for telemarketing, spam, and online behavioral advertising.

by Harley Geiger
Policy Counsel
Center for Democracy & Technology
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Mobile payments: Great technology but where’s the demand?

As highlighted in Eurasia Insights’ study of mobile banking and payments in Turkey, Turkey is increasingly at the top of most people’s lists of innovative payments markets. A dynamic, mainly young (average age below 29) country with a solid banking sector that has survived the crisis, helped the country’s economic renaissance and won worldwide recognition for the level and sophistication of its credit card marketplace, the country has much to shout about. Continue reading

It’s possible – industry can displace cash with all-win approach to transaction fees

Square has become a retail and payments phenomenon. Across the USA it has provided hundreds of thousands of small and medium-sized retailers with an alternative to purchasing or renting traditional point of sale card acceptance equipment. Instead it offers a ‘free’ dongle to plug into the merchant’s iPhone/Android phone or iPad which can then be used to accept electronic payments. Continue reading

PayPal unveils the most comprehensive suite of small business payment tools

Just a few weeks ago we introduced PayPal Here, the world’s first global mobile payment solution that allows small businesses to accept almost any form of payment, delivering on PayPal’s vision of anytime, any way, anywhere payments for small businesses.

At the time, we hinted that this was just part of a comprehensive revamp of our products and I’m excited to unveil the rest today. Continue reading