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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 >>

Isis rebrands as Softcard

Troubled US mobile wallet platform Isis is rebranding itself as Softcard, in an effort to distance itself from the Islamic militant group of the same name. In a statement on its website, the company said: “In a few weeks, Isis Wallet will become Softcard. It’s a different name for the same great way to pay.” According to Michael Abbott, CEO… Continue reading >>

ANZ goMoney app reaches A$100bn in transactions

Australia’s ANZ Bank says that its goMoney mobile-to-mobile payments app has reached A$100 billion in transactions since its launch in late 2010. GoMoney enables users to send funds to anyone with an Australian bank account by entering the recipient’s mobile phone number. Customers can also pay bills, move money between their accounts and check their balance and transaction history. The… Continue reading >>

IBM and Monitise form global alliance

IBM and global mobile banking solution provider Monitise have announced a global digital commerce and resourcing alliance. Aimed at leveraging both companies’ mobile banking, payments and commerce technology, this alliance brings IBM sales and specialist resources to clients around the world with the full spectrum of advice, solution design and delivery of Monitise’s Mobile Money services. Building on Monitise’s IBM… Continue reading >>

Square overhauls Cash app for text-based P2P payments

mPOS player Square has overhauled its Cash P2P payments app to enable users to send and receive funds via text. The latest version of Square Cash gives users the ability to send or request money from everyone in their address book using just their phone number, even if the recipient doesn’t have the app. Customers were already able to send… Continue reading >>

Is the US bank branch making a comeback?

A survey from the American Bankers Association (ABA) shows that the internet continues to be the most popular banking channel, although mobile, ATMs and even branches are gaining popularity. A survey of 1,000 US consumers polled for the ABA by Ipsos Public Affairs found that 31% of respondents favoured the internet as their preferred banking method. However, this stands in… Continue reading >>

Westpac to integrate Moven in internet banking

New Zealand’s Westpac Bank will integrate its online banking platform with start-up Moven’s mobile money management tool to enable customers manage their money through their smartphones, tablets or desktop. Moven, which is positioning itself as a branchless bank, provides downloadable bank accounts for customers. Westpac customers will be able to track their spending through real-time mobile receipts that will be… Continue reading >>

A cashless future? CNN speaks with Payments Cards & Mobile

Payments Cards & Mobile is one of the featured contributors to a new CNN article examining new cashless payment technology including contactless cards and mobile payments. The article, which is part of CNN’s ‘Future Finance’ series, looks at how new ways of paying and spending are leading to a rise in cashless transactions. The area that’s currently seeing the biggest… Continue reading >>

Boston Fed provides update on mobile payments

The Mobile Payments Industry Workgroup of the Boston Federal Reserve has released the outcome of its May 2014 meeting on the state of the industry in the US and has found relatively little change in terms of consumer protection and regulation. According to Susan Pandy, director of payment strategies at the Boston Fed: “The discussions revealed that the focus of… Continue reading >>

VeriFone signs mobile money deal with Airtel Africa

VeriFone Mobile Money and Airtel Africa, part of the Bharti Airtel Group, are teaming up to offer VeriFone Mobile Money’s merchant enablement applications for mobile ‘Tap n Pay’ services across their 17 operating companies in Africa. VeriFone Mobile Money will implement a full suite of retail enablement applications integrated to VeriFone’s range of payment devices across the group, enabling the… Continue reading >>