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Japan’s payment paradox

A new report from payment consultancy Aite Group states that despite Japan being viewed as one of the most advanced payments nations in the world, it remains a cash-intensive society. Japan has had mobile payments since 2004, with thousands of contactless POS terminals deployed in its transit systems, and terminals gracing nearly 50,000 retail locations across the country. Based on… Continue reading >>

Global mPOS installed base to quadruple to 54 million units

Mobile point of sale (mPOS) growth continues as the technology deepens its reach across vertical industries, merchant tiers and geographies. 451 Research projects the global mPOS installed base will grow from 13.3 million units today to 54.03 million units in 2019. Diverse factors including enterprise deployments, expansion into new vertical industries and financial inclusion in developing economies will serve to… Continue reading >>

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 >>

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 >>

UK businesses losing out if they do not have contactless

As usage of contactless cards has trebled, just under half of consumers (47%) expect, or would prefer, businesses to offer contactless payment for low-value transactions, according to new research from Lloyds Bank Cardnet. Despite its relative recent introduction, over a tenth (12%) of consumers state that they do not think enough retailers offer contactless and just under a tenth (9%)… Continue reading >>

How to ace mPOS functional and security testing

The explosion of mobile point-of-sale (mPOS) technology has seen a host of new players enter the market, each seeking to carve out a place in a global market predicted to grow by 40% every year until 2018 (Smart Insights). Before an mPOS terminal product can be launched, however, manufacturers must first prove that it is fit-for-purpose, or risk the long… Continue reading >>

Alibaba follows PayPal and looks to POS for Alipay growth

Chinese fans of fried chicken will soon have a new way to pay for their food fix after Alibaba’s payments unit Alipay hooked up with KFC, as the country’s ecommerce groups look to diversify through “online-to-offline” deals. Alipay’s agreement with KFC China, the country’s largest food delivery business with 5,000 restaurants across 900 cities, was followed by search engine Baidu… Continue reading >>

Banks adopting biometrics against fraud

A new impact report finds that the use of knowledge-based analytics are on a fast decline, while various forms of behavioural analytics continue to see strong growth. The report, “Digital Channel Fraud Mitigation: The Mobile Force Awakens,” details the latest threats to banks and their customers, and looks at the technologies being used by banks. The research, which is based on spring… Continue reading >>

Verifone signs major Payment as a Service deal

Verifone says that Westpac Banking Corporation will be the first bank in Asia Pacific to deploy its new handheld EMV and NFC-enabled terminal solution that is fully supported with payment as a service from Verifone. With more than 13 million customers, Westpac is one of the largest financial services institutions in Australia and New Zealand. The Group will provide the VX 690… Continue reading >>

Amex loses out at POS

After years of prohibiting merchants who accept its cards from steering customers to other brands, American Express is being forced to lift those restrictions. The change comes after a federal judge in February found that AmEx’s rules on the matter were anticompetitive; a separate court this week denied the company’s request to keep the rules in place pending its appeal. That… Continue reading >>