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Instant payments at POS – overcoming customer and merchant barriers

Over the past several years, instant payments have become an increasingly important part of the payments landscape. The Euro Retail Payments Board (ERPB), European Central Bank (ECB), European Payments Council (EPC) and several national organisations have recently made announcements addressing the implications and regulation of this new payment option, as well as the impact of its rise on the operations… Continue reading >>

HKT launches NFC mobile payments

HKT Payment, a subsidiary of  Hong Kong Telecommunications (HKT) has launched a SIM-based NFC mobile payments service to let customers pay at more than 3 million locations worldwide which accept MasterCard PayPass, using funds stored in their Tap & Go mobile wallet account. In addition to in-store payments, the service lets users make P2P transfers by tapping their devices together through its… Continue reading >>

Stripe lands new funding with Visa

Stripe has won a new round of funding from investors that include Visa, Sequoia Capital and American Express, the funding values the company at $5 billion. The actual value of the funding has not been confirmed, but speculation suggests it is near the $100 million mark. The most interesting aspect of the deal is the recruitment of Visa to Stripe. The company says it has… Continue reading >>

Social media to drive mobile money transfer market

In a new report from Juniper Research it is projected that the number of mobile money transfers globally will increase by nearly 150% in 2015 to more than 13bn, with several social media firms already seeing a dramatic rise in service usage. The research observes that with US social payment service Venmo now experiencing traffic worth nearly $1bn per quarter, leading social media… Continue reading >>

Wearables for retail payments?

Wearable technology is set to become an everyday part of retail on the shelves, on the shop floor, in the stock room and in the back office. In just a handful of years, wearable technology has moved right into the mainstream. Who would have thought five years ago that pensioners, for instance, would be casually walking around with fitness monitoring… Continue reading >>

Innovation in payments initiatives

A global study of over 300 banking and financial services executives shows that, for the first time, innovation is ranked as important as regulation. The research also reveals that mobile first has now become mainstream, while innovative disruptive technologies such as block-chain will potentially become a very attractive alternative to traditional payment methods, transforming payment processing and acting as significant… Continue reading >>

PayPal shares jump on eBay split – company valued at $50bn

PayPal shares are up 5% in its first day as a separate and publicly traded company. The payments system company officially split with eBay on Friday, 10 months after they announced that they were going their separate ways. PayPal processed $235 billion in total payment volume last year and logged revenue of about $8 billion. It plans to grow market… Continue reading >>

Apple e-commerce platform based on your credit card balance

Who said payments wasn’t sexy? Just weeks after applying for a new P2P payments patent and the launch of Apple Pay in the UK, it is rumoured that Apple has filed yet another payments related patent. For a company whose CEO has repeatedly asserted that it is not interested in selling its customer data to advertisers, Apple is putting a… Continue reading >>

The debit card goes mobile in Austria

PSA Payment Services Austria launched a new mobile debit card. The popular and familiar form of payment is now available for NFC-enabled mobile phones to make contactless, mobile and secure payments. The mobile debit card is supported by all major Austrian wireless service providers: A1, T- Mobile and Drei Austria. To kick off the new service PSA conducted a field test… Continue reading >>

Buy Buttons aim to entice mobile shoppers

Now several companies, including Google, Facebook, Twitter and Pinterest, are trying to bridge the gap between mobile browsing and desktop purchasing with a simple “buy” button. Buy buttons have been around since the early days of the web, of course, notably with Amazon’s “One-Click Ordering,” where people set up a button that runs their credit card and ships whatever they… Continue reading >>