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Global mobile payments trends in 2014

The payments industry is approaching an inflection point with respect to whether the mobile wallet and mobile payments could become a viable every day payment tool. More and more consumers are being introduced to the concept for the first time and many companies are beginning to make their very first mobile-related investments. Below are the five trends that gained in prominence… Continue reading >>

Mobile Payment Index reveals Asia emerging as m-commerce powerhouse

Adyen has announced its latest global Mobile Payments Index, which covers the period of July through to September 2014. The Mobile Payments Index, which captures data from web-based transactions across Adyen’s customer base of more than 3,500 businesses, found that globally payments over mobile devices contributed 23.3% of total online payments for the quarter, up from 21.5% last quarter. Asia… Continue reading >>

Bango and Samsung in global mobile payment partnership

Bango has signed a global agreement with Samsung. The agreement means that hundreds of millions of consumers using Samsung devices will have access to frictionless mobile payment for digital goods – apps, music, games and more – charging the cost to their phone bill in one click. Bango will provide carrier billing, collection and settlement for digital content purchased through… Continue reading >>

Signature-based mobile commerce payments

Belgium-Dutch start-up Sign2Pay is hoping to help abandoned mobile commerce checkout problems with technology that lets customers complete purchases by signing their names on their phones’ screens. Sign2Pay lets customers with any touch-enabled mobile device pay for online orders at participating merchants by entering their bank account number and scrawling their signature. Money is directly debited from customer accounts. The… Continue reading >>

Apple Pay launches

Apple’s new payment system, Apple Pay, rolls out at some retailers and promises more protection from hackers. With cybersecurity threats showing no sign of slowing down, perhaps it is time to reconsider the way we pay. Enter Apple Pay, the system that encrypts credit card data from retailers. Apple Pay is available on new iPhone 6 models with the iOS 8.1 update. The payment system… Continue reading >>

Tokenization for mobile payments and mobile wallet services

MasterCard and Visa has recently released the technical specifications for tokenization. Tokenization is the next generation security for mobile cloud based payments and other secure mobile services. “We started the preparation for tokenization to be included in our mobile technology platform early next year. Now we are ready for the next step and we are currently discussing pilots with innovative… Continue reading >>

SIA launches mobile money service

Italian payment processor SIA has launched a SEPA-compliant smartphone-based mobile money transfer service, enabling users to send and receive money in real time to and from their phone contacts. The ‘Jiffy’ app, which utilises SEPA credit transfers, is available on Android, iOS and Windows Phone operating systems. The Jiffy app links users’ current accounts, the IBAN code of the account… Continue reading >>

Kotak Mahindra offers Facebook mobile money transfers

Indian bank Kotak Mahindra (KMB) has unveiled a mobile money transfer service enabling Facebook users to make funds transfers to each other. The KayPay application utilises India’s Immediate Payment Service for mobile phone payments, enabling users to register their account details and conduct transfers using their Facebook log-in credentials and a one-time password from KMB. Users also receive instant notifications… Continue reading >>

Japanese social media network Line moves into payments

Japanese social media messaging network Line has entered the payments market with a service for both online and in-store transactions. Line, which has 560 million registered users worldwide, will enable Japanese customers to link the Line mobile app to their bank accounts and credit cards. Users will then be able top up their Line account and make purchases online and… Continue reading >>

ASB and BNZ to launch New Zealand mobile wallet

New Zealand banks ASB and BNZ are to launch a live pilot of a domestic  mobile wallet developed by NFS NZ, a joint venture company established by the country’s leading mobile networks and bank-owned EFTPOS firm Paymark. NFS NZ – whose shareholdrs include Paymark, 2degrees, Spark and VodaFone – has been rebranded as Semble, ahead of a planned national roll… Continue reading >>