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Yaap P2P payments via mobile ‘Money’ app

Yaap, the joint-venture between CaixaBank, Banco Santander and Telefónica, has releases Yaap money – a mobile app that facilitates the secure transfer of P2P payments instantaneously between users’ mobile phones. In order to send and receive money, users of the app will not need to know bank details – just the mobile number, Facebook username or Twitter username of the… Continue reading >>

Amazon kills P2P payments service

Amazon shut down its WebPay service, saying that the P2P money transfer service is not good enough to keep going. For several years, WebPay has let Amazon Payments users send, receive, and request money by entering a contact’s email address and the sum on a webpage. But with Google, Square and PayPal among the big guns offering similar P2P transfer… Continue reading >>

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 >>

Apple Pay explained

A nice, neat explanation of the salient points of Apple Pay: User: iTunes account with Visa or MasterCard or Amex card on file and issued by the most popular banks, American Express, Bank of America, Capital One Bank, Chase, Citi and Wells Fargo at availability with additional banks coming quickly thereafter including Barclaycard, Navy Federal Credit Union, PNC Bank, USAA… Continue reading >>

Has Apple underwhelmed with Apple Pay?

The concept of mobile payments, mobile money, and mobile wallets has been around for some time and many major companies have had a go at it. Some progress has been made but with so many stakeholders needing to collaborate in order to provide a coherent, comprehensive useful mobile wallet ecosystem, a strong catalyst has been lacking – is the launch… Continue reading >>

Money-On-Mobile surpasses 100 Million unique users in India

Calpian has announced that for the month ending August 31, 2014, its Mumbai-based subsidiary Money-On-Mobile has been accessed by more than 103 million cumulative unique users since its inception with a total of 7.7 million users accessing the service in August. Money-On-Mobile is a mobile payments service provider that enables Indian consumers to use their mobile phones to pay for… Continue reading >>

Amex struggles with mobile payments

A top executive at American Express has acknowledged that the firm’s efforts to engage consumers with mobile payments have so far been a failure – however, as PCM notes, they are certainly not the only big player who has struggled. On the eve of Apple’s unveiling of its new iPhone-based payment system, Josh Silverman, Amex’s president of consumer products and… Continue reading >>

Vodafone launches mobile payments with Visa in UK

Vodafone, in partnership with Visa, is developing a new mobile payments system that will allow users to complete contactless payment via NFC enabled SIM cards. Vodafone and Visa have previously partnered on similar services in Italy, Spain, the Netherlands and Germany. Vodafone is planning a consumer launch of the service in early 2015, but will likely be beaten to the… 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 >>

Barclaycard and Orange shut down Quick Tap NFC service

Barclaycard and mobile network operator Orange are to close their Quick Tap NFC mobile payment service at the end of October. Quick Tap was launched in 2011 and was one of the first NFC mobile payment services in the UK. According to Barclaycard, the company will now focus on developing other services related to mobile NFC. Having launched contactless PayTag… Continue reading >>