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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 edge 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 >>

Türk Ekonomi Bankası launches mobile payment app using Visa’s HCE technology

Türk Ekonomi Bankası (TEB) has announced it will launch a mobile contactless payment application, powered by Visa Europe’s HCE (Host Card Emulation) technology. The application will use the HCE functionality that is gathering pace across Europe as NFC enabled smartphones become widespread. The application allows the bank’s customers to perform quick and secure contactless transactions via a smartphone, using card data… Continue reading >>

Google’s ‘Pony Express’ Gmail bill payment

Google is reportedly developing a new Gmail feature, Pony Express, that will allow users to receive and pay bills directly from their email inbox. According to Recode, the new project is called Pony Express, though that could be an internal code name; Google could go in a different direction with branding when Pony Express launches to consumers. (But we very… Continue reading >>

Global Payments acquires Realex payments

Realex Payments, one of Europe’s largest and fastest growing payment gateways, has been acquired by Global Payments, a leading worldwide provider of payment technology services. “We are thrilled to be joining the Global Payments team.  It’s great news for our customers, for our employees, and for Ireland,” comments Realex Payments founder and CEO, Colm Lyon. “For Realex Payments’ existing 12,500 merchants,… Continue reading >>

Payment Systems Regulator begins £75 trillion UK payment industry oversight

On April 1st,, in what will be a landmark date for UK financial regulation, The Payment Systems Regulator (PSR), the new economic regulator for payment systems, has confirmed how it will regulate the industry. It has also published a policy work programme setting out priorities for the year ahead. The PSR’s aim is to make payment systems work well for the people… Continue reading >>

Monitise rejects sale, Lukies ejected

Former mobile banking darling Monitise has decided not to sell itself, but a strategic review of its “options” has led to its founder and co-CEO Alistair Lukies stepping down from the top job and board. Mr Lukies will now merely be a “strategic adviser” to Elizabeth Buse, who becomes the sole chief executive of the troubled mobile money company – according… Continue reading >>

Mobile money transfers double

New research from remittance specialist Azimo, demonstrates that the percentage of money transfers sent from mobile phones has more than doubled in the 12 months to January 2015. Azimo’s research found that almost one in 10 people between the ages of 18 and 24 have sent money via a mobile phone. Just one in 200 people over the age of 55 have… Continue reading >>