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Mobile app use sees emergence of cashless society

Half of European adults with access to a mobile device such as a smart phone or tablet computer expect to use mobile payment apps over the next 12 months, according to an international study of more than 14,000 consumers. While one third (33%) of Europeans have already used a mobile payment app, which allows the user to make payments via… Continue reading >>

PayPal free to work with eBay rivals

New filings reveal that eBay and PayPal will soon be free to do business with their most entrenched enemies. Under an agreement detailed in a regulatory filing from eBay, the companies will be free to do business with other marketplaces and payment providers. In other words, PayPal could one day come to Amazon. “As independent companies, we expect eBay and PayPal will… Continue reading >>

The global mobile money landscape

The mobile money sector is one of the most fluid in the whole of the mobile ecosystem, with more players entering and exiting, new tech and services being launched or trialled. Here’s MEF’s quarterly update on the key players in the landscape. Defined by our Global Working Group it categories the ecosystem into in-store payments, online payments, P2P payments, direct… Continue reading >>

BBVA Compass teams up with Dwolla for real-time payments

BBVA Compass customers is teaming up with the Dwolla digital currency platform to enable consumers to make real-time payments. BBVA Compass is bypassing the traditional routes and using Dwolla’s FiSync protocol, which enables the confirmation of good funds, secure authentication and real-time availability of money to and from the Dwolla network. Transactions over $10 will incur a flat fee of… Continue reading >>

Digital currency regulator should be global body

Regulation of the digital currency marketplace would need to be co-ordinated by a global body such as the Basle-based Bank for International Settlements, according to the Reserve Bank of Australia. The Reserve Bank stated in a response to the Australian Senate Economics References Committee Inquiry into digital currencies that “digital currencies represent an interesting development in the payments and financial… Continue reading >>

Internet spending is one-third of UK card expenditure value

New figures published by the UK Cards Association show that 30% of the value of all spending on cards in January was via the internet, with £15.4 billion of the £46.5 billion total spent in this way. The number of online card transactions comprised 12.3% of total card purchases which equates to 118 million of all 1,054 million card payments…. Continue reading >>

Intel and Ingenico team up for Internet of Things

Ingenico Group and Intel Corporation have announced a collaboration to combine Intel technology and Ingenico Group secure payment acceptance for the Internet of Things. The companies will jointly develop a mobile tablet that supports EMV1 and NFC payment functionalities, a standard required by banks to help prevent credit card fraud. Under the collaboration, Intel Data Protection Technology for Transactions will… 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 >>

Digital tipping point: Banks must focus on innovation to harness opportunities

A major new report sets out key recommendations for the banking industry and urges regulators to give consumers certainty that their money is equally well-protected wherever they choose to bank. Banks must concentrate on harnessing a range of digital technologies or risk losing customers to a new wave of competitors, according to a new report by the British Bankers Association… Continue reading >>

Multi-channeI is biggest payment challenge for UK retailers

Multi-channel retailing was named as the biggest payment challenge facing retailers by nearly half (47%) of respondents to Ingenico Group’s survey at this year’s RBTE. Ingenico has revealed the results of its survey carried out at this year’s Retail Business Technology Exhibition (RBTE), highlighting that the biggest payment challenge facing UK retailers over the next five years is the ability to… Continue reading >>