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UK consumers ready to drop banks for mobile – Zapp

UK mobile payment provider Zapp has released research which shows that 21 million UK consumers are ready to switch banks to access mobile payments, 33% of these within a year. According to Zapp’s research, UK consumer usage of mobile payments has risen by 64% in 15 months, and the number planning to do so is set to increase by 48%…. Continue reading >>

MasterCard launches personal payments service

MasterCard has launched MasterCard Send, a service designed to make it seamless for businesses, governments and others to send money to consumers around the world. Live in the US, MasterCard Send is being touted as a personal payments service that gives the likes of merchants and non-profits access to a platform from which they can send money to consumers whether… Continue reading >>

BPCE pilots dynamic CVV code for online shopping

France’s Banque Populaire and Caisse d’Epargne (BPCE) are piloting a payment card that replaces the three-figure CVV code on the rear of the card with a small screen display that automatically changes periodically. The cards will be offered to 1,000 customers of the banking group from September 2015. The bank says the technology, developed by Oberthur, will improve security for consumers… Continue reading >>

E-commerce processor WePay raises $40 million

E-commerce payment processor WePay has raised $40 million in a Series D funding round led by FTV Capital and including Japan’s Rakuten. WePay will use the funding to expand in markets outside the US as e-commerce shifts from traditional retailers to online marketplaces. WePay provides an API that companies can embed within their sites to accept payments. WePay targets businesses… Continue reading >>

WorldRemit launches in five new countries

Online money transfer service WorldRemit has launched in five countries in South America and Eastern Europe. WorldRemit customers can now send money transfers direct to the bank accounts of their friends and family in Chile, Czech Republic, Hungary, Slovenia and Bulgaria. WorldRemit’s services enables users to send money to friends and family abroad. People in 50 countries can send money… Continue reading >>

Ripple reaps $28 million funding round

Digital currency specialist Ripple Labs has secured a $28 million Series A funding round. IDG Capital Partners and the venture arms of CME Group and global data storage company Seagate Technology were investors in the round. Ripple is aiming to work with global banks on international money transfers by using digital currency tokens in exchange for fiat currency, effectively disrupting… Continue reading >>

PayPal to List on Nasdaq

According to web rumours, EBay payments unit PayPal plans to trade on the Nasdaq Stock Market when the two companies split later this year. PayPal said it would use the ticket symbol “PYPL,” which is the same symbol that the company had before being acquired by eBay in 2002 for about $1.5 billion – according to the WSJ. EBay and PayPal plan… Continue reading >>

Denmark proposes cashless country

The Danish government, as part of a pre-election package of economic measures put forward by the government, has proposed getting rid of the obligation for selected retailers to accept payment in cash, moving the country closer to a cashless economy. Nearly a third of the Danish population uses MobilePay, a smartphone application for transferring money to other phones and shops,… Continue reading >>

Consumer payments: behaviors & perceptions

In August 2014, approximately 1 out of every 5 banked consumers in the U.S. said they would be comfortable using their smartphone to initiate all of their payments transactions, according to a First Annapolis study of consumer payments usage. Almost 90% of banked U.S. consumers, however, indicated a preference for a traditional payment method— debit cards, cash, credit cards, or… Continue reading >>

27% of global online transactions now on mobile – Mobile Payments Index

Online payments made using mobile devices continues to rise globally – according to the quarterly Mobile Payments Index (MPI), which tracks mobile payment data from web-based transactions – now accounting for 27.2% of the total online payments made in Q1 2015. This is up from 25.8% on the traditionally high online spending period of Q4 and up a massive 39% on the corresponding… Continue reading >>