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40% of US consumers have made a merchant mobile payment

40% of North American consumers have used their smartphones to make a mobile payment at a merchant location, according to an Accenture survey of 4,000 consumers in the US and Canada, up from 16% reported in a similar survey two years ago. Millennials and high-income consumers – household income of at least $150,000 – are the most avid adopters, with 52%… Continue reading >>

MCX responds to Apple Pay exclusivity allegations

After several days of questions as to why the pharmacies Rite Aid and CVS blocked Apple pay in their stores after initially accepting it, executives from the Merchant Consumer Exchange (MCX), a group of retailers working on a rival to Apple Pay, finally spoke out. During a news conference, MCX CEO Dekkers Davidson rebuffed earlier reports from The New York Times in… Continue reading >>

70% of banks increasing innovation spend

Despite conflicting priorities and the economic downturn, banks around the world are still increasing their investments in innovation. These key findings are part of Innovation in Retail Banking 2014, the sixth annual study commissioned by Infosys and Efma. Financial institutions the world over are raising their innovation spend significantly in a desperate attempt to fend off the threat to their established… Continue reading >>

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 >>