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Apple Pay early adoption stats

ITG Research has released  figures which show that iPhone users, via Apple Pay, were responsible for 1% of digital payment dollars spent in the month of November. The ITG Mobile Payments report, which uses data from the firm’s proprietary consumer panel, found that Apple Pay customers used the service roughly 1.4 times per week, with a return rate of 66% for future transactions… Continue reading >>

Consumers will switch banks to access mobile payments

21 million British consumers say they will switch banks to access mobile payments, as anticipation for new ways to pay builds, according to new research from Zapp. 44% of consumers plan to switch accounts if their current bank was unable to offer mobile payments and had no plans to do so. Of these, a third (33%) say they would do so… Continue reading >>

Banks still top for consumer trust

Consumers trust banks far more than they do companies like Google, Apple and Amazon to protect their card details and personal financial information, according to research by Bizrate Insights. Bizrate Insights, a division of Connexity (formerly Shopzilla), found in a survey of over 6200 online buyers, a considerable lack of trust around credit card and personal information security among even… Continue reading >>

MBNA launch digital wallet with MasterPass

MBNA has, in partnership with MasterCard, launched a trial of a digital wallet. Once the trial is complete in early 2015, the MBNA Wallet could be quickly rolled out to customers. This will enable customers to securely store their credit and debit cards in their ‘e-wallet’ and, at the checkout for their online shopping, select which card to use to… Continue reading >>

Samsung to launch Apple Pay rival

Samsung is said to be discussing a deal with a payments start-up that would help the smartphone maker introduce a mobile payments system in 2015 to rival Apple Pay, multiple sources report. The technology would allow people with certain Samsung phones to pay in stores by waving their phones instead of swiping with a credit card or cash. It is not yet clear… Continue reading >>

Mobile commerce booming in China

Online shopping via mobile phones has become the main way Chinese people spend their money, with a large number of those living in rural areas jumping on the mobile commerce bandwagon, according to a report by Alipay. The Alipay Annual Spending Report is a report the e-payment firm releases each year that documents the spending trends of the Chinese consumer. According to… Continue reading >>

Mobile payments trends in 2015?

With Apple leading the market, banks losing some control, and Bitcoin blockchain used to design new financial products, it looks like an exciting year ahead for the mobile payments space. As analysts predict Apple Pay to be the leader in mobile wallets, banks to give up some control to gain influence in the market, and more people using the Bitcoin… Continue reading >>

Starbucks testing mobile ordering and payment

The coffee chain Starbucks processes around 47 million transactions each week in its 12,000 US stores, news.yahoo.com reports. According to the source, 7 million of those purchases (around 15%) are made with the Starbucks mobile application. The mobile app, which has been available for several years, is part of Starbucks’ loyalty program. With each purchase, customers receive stars (a sort of… Continue reading >>

Sixdots goes live with multiple banks in Belgium

9 banks representing 80% of the Belgian market can now make use of Sixdots, a mobile wallet service that uses a combination of QR codes and a 6-digit PIN to make P2P payments, in stores and online.   The service is available for both iOS and Android and has been introduced by BNP Paribas Fortis, KBC, ING, Belfius, Fintro, Record Bank, Bpost bank,… Continue reading >>

Barclays extends cheque imaging pilot

Barclays is giving 1 million customers the ability to deposit cheques remotely by taking photographs with their phones – cheque imaging. Barclays has been piloting the service with a few thousand customers since June, when the UK government decided to push ahead with legislation that lets banks and building societies process cheque images – rather than the physical paper –… Continue reading >>