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US retailers see surge in NFC payment

Retailers in the US are seeing an uplift in NFC payment transactions in the three weeks following the launch of Apple Pay, according to The New York Times. Grocery chain Whole Foods said it had processed more than 150,000 Apple Pay transactions, while Walgreens, the nationwide pharmacy, said mobile wallet payments had doubled since the arrival of Apple’s NFC-based payment service…. Continue reading >>

Data analytics accelerates disruption in banking

Access to data and the ability to effectively manage data analytics will decide which financial institutions prosper and which will be supplanted during this wave of transformation – this was one of the key conclusions taken from a recent report titled ‘Analyse This, Predict That’, which explores the financial services sector’s data analytics capabilities, and how players may use data analytics… Continue reading >>

Coinbase partners RewardsPay for iTunes bitcoin payments

RewardsPay has opened its payments platform to Coinbase enabling online shoppers to use bitcoin for purchases at iTunes and Facebook. RewardsPay’s service lets people use the cash rewards they get from credit card companies, hotels, airlines and retailers to make online purchases. Coinbase is taking advantage of the firm’s integration with major merchants to expand the pool of sites where… Continue reading >>

Bitcoin ATMs paying off initial investments in months

An industry that was non existent a mere 12 months ago is flourishing and profitable, according to Bitcoin ATM pioneers, Lamassu. Internal Lamassu surveys show that standard cash-to-Bitcoin ATM locations are averaging $20,000 worth of transactions per month, whereas prime locations are averaging $40,000 – $60,000 per month. With an average commission of 5.5%, operators are looking at $1,000-$3,000 in… Continue reading >>

Asia-Pacific overtakes North America to become the largest EFTPOS region

New research from London-based strategic research and consulting firm RBR shows that there were 61 million EFTPOS terminals installed at 40 million merchant outlets around the world, at the end of 2013. This represents a 12% increase on 2012. Asia-Pacific’s installed base expanded by 30%, overtaking North America to become the largest region for EFTPOS terminals in 2013. The rapid growth in… Continue reading >>

Making the most of merchant loyalty

Creating merchant loyalty – location–based offers, discounts and targeted messaging are helping to place merchants at the centre of consumer engagement. According to research by IDC, 1.5 billion smartphones will be in use globally by 2017, while research firm Gartner predicts that worldwide mobile payment transaction values would reach $235.4 billion in 2013, a 44% increase from 2012’s $163.1 billion…. Continue reading >>

Research reveals banks’ attitudes to HCE

Global bank-led industry association, Mobey Forum, has published a white paper detailing the results of a survey that outlines the attitudes of its international membership toward the adoption of host card emulation (HCE). The survey reveals members’ appetites for third-party support with HCE solution development and ranks their key criteria for the selection of a technology partner. With close to… Continue reading >>

The state of SEPA

How is SEPA faring now that migration deadlines have passed, and could banks be doing more? Finally, after a 15-year wait, and a delayed 1 August migration deadline, the Single Euro Payments Area (SEPA) has achieved full implementation of SEPA-compliant credit transfers and direct debits in the euro area- reports Victoria Conroy. The milestone means that over 500 million consumers and 20… Continue reading >>

Mobile money momentum

As mobile money transfer services like Pingit and Paym gain traction, how will mobile remittances help drive mobile commerce? With all the focus on mobile payments and wallets, and the success of mobile-based money transfer services like Barclays Pingit and Paym in the UK, the spotlight is being shone on the potential of these account-to-account transfer services to bring about… Continue reading >>