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Daily mobile transactions rise to $71m in Kenya

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Kenyans are transacting Sh6.2 billion ($70.49m) daily through mobile phones, Central Bank of Kenya has said. This is a rise from an average of Sh5.2 billion last year, underlining growing confidence in mobile money and cashless transactions. “The growth has been phenomenal.  It has become an important platform for financial services,” said CBK governor Njuguna Ndung’u in a recent presentation… Continue reading >>

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Amazon Wallet

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Amazon has quietly released a new Android and Fire Phone app, dubbed Amazon Wallet, which lets users scan cards with their phone and save them in the Amazon cloud, so they’re easily accessible when needed. Amazon’s first attempt at its own mobile wallet application, designed for use at POS, has made a quiet debut on the Amazon App store and on Google Play…. Continue reading >>

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Global Mobile Payments Index Q2 2014: UK Ahead of Rest of World

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Adyen announced findings from its latest global Mobile Payments Index covering the period of April through June 2014.  During this period, on average mobile web payments accounted for almost 22% of all transactions on Adyen’s network worldwide. This represents a 9% increase over Q1 and a 33% increase over June 2013.  Looking specifically at the UK, mobile payments stand at… Continue reading >>

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Apple launches iTunes mobile payments in Japan

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In a small step towards Apple’s payments ambitions, and one giant leap for the Apple rumour mill, the high-tech firm has launched an iTunes-backed payments system — in Japan. The company has launched a mobile payment system based on the iOS 7′s Passbook app.  Japanese users can now use it to pay for apps through its iTunes-based App Store and for products… Continue reading >>

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TMG builds wearable payments app for Google Glass

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Payments processor, The Members Group (TMG) intrigued attendees of the TMG Executive Summit with a demonstration of its custom-built wearable payments app. In a presentation aptly named “The Future of Payments,” TMG Senior Product Manager Brian Day showed financial institution leaders how the app, called See2Pay, works. Built by TMG for use with Google Glass, See2Pay lets consumers make small-dollar… Continue reading >>

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The modern wallet: mobile wallets are making life easier

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There’s no denying the impact that digital connectivity is having on our daily routines. It’s changed how we watch video, keep tabs on our health - even the way we connect with our favorite World Cup players. And more recently, digital is starting to transform how consumers pony up cash for their everyday purchases. And for consumers using mobile payment technology, digital is already the… Continue reading >>

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Retail mobile apps slow to adopt payment functionality

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In recent years, major retailers have embraced the use of “smart” technology in store fronts. From using tablets at the checkout counter to mobile credit applications, retailers are developing creative ways to utilize technology to drive customer engagement. With over 75% of Americans age 12 to 43 now using a smartphone, mobile applications have emerged as a valuable, and in… Continue reading >>

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Monitise share price slumps on revenue slash

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Global mobile money specialist Monitise has seen its share price plummet more than 15% today after the company issued a trading update stating that its revenue growth this year would be lower than previously forecasted. Monitise said full year revenue would be between 31% and 33% (£95 million and £97 million), lower than the 40% it stated in March. This… Continue reading >>

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UK legislate on mobile cheque deposit

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The UK government is hoping to resist the slide of cheque usage by allowing a system that will allow people to pay using mobile cheque deposit by taking a photo on their smartphone. Rather than go to the bank in person, customers will be able to photograph the cheque, and send it electronically. The government says the idea has been… Continue reading >>

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