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Mobile commerce worth $516 billion by 2017

Mobile commerce will drive an estimated $516 billion in sales over the next three years, accounting for more than 70% of all mobile Internet revenue. That is the prediction of a new report from research firm Digi-Capital, which says that all mobile Internet revenue will top $700 billion annually by 2017. The absolute top driver in this picture is mobile commerce. But other… Continue reading >>

Citi claims first blood for US digital wallet launch

Citigroup has claimed to be the first global bank to introduce its own branded digital wallet in the US. However, questions are being asked as to how many of Citi’s millions of payment card holders will care as digital wallet services proliferate. The new Citi Wallet is based on MasterCard’s MasterPass platform, which the network introduced in February 2013. At… Continue reading >>

Millicom create payments service provider for Africa and Latin America

Millicom and Kalixa have established a joint venture to develop a payments service provider to operate in Africa and Latin America, initially commencing in Colombia and Brazil later this year. The joint venture will offer payment acceptance services for both businesses and consumers, including payment gateway and point of sale solutions for merchants as well as 1-click payment and eWallet… Continue reading >>

Payments platform to connect mobile operators and enable digital payments in emerging markets

Skrill has launched an online payments platform to drive digital inclusion in emerging markets.  By partnering, mobile network operators enable consumers to engage with global online eCommerce, thereby increasing average revenue per user (ARPU).  For global online brands, Skrill will deliver access to hundreds of millions of currently unreachable new consumers in emerging markets. As Europe’s first FCA-regulated eMoney issuer,… Continue reading >>

Apple agrees interchange fee rebates for m-payments

Ahead of the launch of the iPhone 6 next week, tech giant Apple has reportedly negotiated deals with several US issuers to give Apple back a portion of card-present interchange fees, around 15 to 25 basis points, on each transaction. The issuers have also agreed to extend card-present rates to Apple for all transactions involving their cards with Apple’s new… Continue reading >>

Barclays launches biometric reader for corporate clients

Barclays corporate customers will be able to log into their online accounts by scanning their fingers with biometric readers using vein authentication technology from Hitachi. From 2015, corporate customers will be able to access their accounts and authorise payments with the reader, eliminating the need for , PINs, passwords and authentication codes. According to Hitachi, vein patterns offer a stronger… Continue reading >>

MasterCard and Basware launch B2B solution

MasterCard and global e-invoicing specialist Basware have launched Basware Pay, a solution aimed at working capital optimisation for the B2B space. Basware Pay aims to extend the value of the purchase-to-pay process by providing a unique, global e-payment solution. The solution connects buyer and supplier payment processes through the Basware Commerce Network. Supplier invoices are sent via the Basware Commerce… Continue reading >>

Australia’s eftpos launches online payments system

Australian POS payments system eftpos is testing a new system for online purchases at supermarket chain Coles. The system enables users to make online payments with a username and password, without having to enter their card details. The platform also offers real-time transaction updates on bank accounts and the ability for merchants and consumers to set their own limits to… Continue reading >>

Alipay and Huawei team up for biometric mobile payments

China’s Alipay e-commerce platform has teamed up with handset manufacturer Huawei to develop a system enabling people make biometric mobile payments with their fingerprints. The system utilises the fingerprint reader of Huawei’s Mate 7 handset. Users of Alipay’s Wallet app will be able to confirm transactions with a fingerprint scan, eliminating the need for passwords. Biometric data is encrypted and… Continue reading >>

Bitcoin could be considered legal tender in Australia

Australia’s tax commissioner has indicated that the bitcoin digital currency could be considered legal tender in the country. Several countries around the world are struggling over whether to classify bitcoin as a currency or as a commodity. Speaking at an event last week, the Australian tax commissioner, Chris Jordan, stated there was a push by some proponents to have bitcoin… Continue reading >>