P2P payment transactions to exceed $120 billion this year — eMarketer — “The transaction value of US mobile P2P payments will grow 55.0% this year to $120.38 billion. This figure is on pace to double by 2021. In 2017, 63.5 million US adults will use a P2P payment app at least once a month, equating to nearly one-third (32.6%) of smartphone users.”
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Dubai’s Nol cards can now be used for payment at 1,000 retail units
Dubai’s Nol cards can now be used for payment at 1,000 retail units — Gulf Business — “Dubai’s Roads and Transport Authority (RTA) has announced that Nol cards can now be used to make payments at more than 1,000 selected retail outlets… Nol cards are used to pay for public transport systems such as the Metro, Tram, buses and water taxis… The network of retailers accepting Nol cards is projected to exceed 5,000 by the end of this year.”
Swatch partners with eleven Chinese banks for second-generation payments watch
Four new NFC smart watches that make use of China UnionPay’s cloud-based payments service have been unveiled in Shanghai by Swatch Group CEO Nick Hayek... More
Apple unveils promotional campaign to win Chinese consumers to Apple Pay
Apple unveils promotional campaign to win Chinese consumers to Apple Pay — South China Morning Post — “Consumers using Apple Pay to make payments in designated online and offline merchants in mainland China that display the logo of UnionPay’s QuickPass facility will receive discounts of up to 50% and as much as 50 times the usual amounts of reward points for credit cards.”
Samsung Pay announces partnership to allow users to pay via PayPal
Samsung Pay announces partnership to allow users to pay via PayPal — Samsung — “Access to PayPal will be available for all Samsung Pay users in the United States and will expand to other countries soon. Additionally, through Braintree, a PayPal service, merchants will be able to accept Samsung Pay as a method of payment in-app and online.”
Mastercard and Visa lose share to UnionPay in global cards market
Mastercard and Visa lose share to UnionPay in global cards market — RBR — “The continued rapid expansion of the Chinese cards market has helped UnionPay to increase its share of cards to 43% in 2016, and extend its lead over Visa and Mastercard. UnionPay has been the largest scheme globally for card numbers since 2010 and, by the end of 2016, there were more than six billion UnionPay branded cards in circulation.”
Santander pays 5% cashback when you pay by mobile phone
Santander pays 5% cashback when you pay by mobile phone — Which? — “Santander 123 Lite Current account customers can earn 5% cashback on all purchases using their debit cards via Apple Pay, Android Pay and Samsung Pay. The two-and-a-half month deal runs from 17 July to 30 September, with the bonus paid out by the end of November.”
MobiKwik integrated with Samsung Pay Mini
MobiKwik integrated with Samsung Pay Mini — The Hindu — “The tie-up will enable one-tap payments at more than 1.4m MobiKwik-powered merchants pan-India. Alternatively, users just need to do one swipe and a click to scan and pay immediately at these merchants, improving convenience for them. MobiKwik will also be available soon on Samsung Pay,”
Apple has just weeks to fix its fingerprint problem, says KeyBanc
Apple has just weeks to fix its fingerprint problem, says KeyBanc — Barron’s — “Apple is still struggling to put a fingerprint sensor under the glass of its next iPhone, says KeyBanc, and it has until August to fix the problem or else ditch fingerprints on the new device or decide to delay substantially its roll out… Not having the fingerprint sensor, he writes, would not be good, as it might effectively shut out the new phone from things like Apple Pay.”
Coca-Cola reveals AI-powered vending machine app
Coca-Cola reveals AI-powered vending machine app — Venturebeat — “The app, which launches in about two weeks in places like US universities and locations around Australia and New Zealand, will allow you to order a Coca-Cola drink for yourself and a friend, then have it available on the vending machine.”
Japan’s Bic Camera to accept bitcoin nationwide
Japan’s Bic Camera to accept bitcoin nationwide — Nikkei Asian Review — “Bic Camera will allow payments in bitcoin at all locations throughout Japan as early as this month, looking to provide more options for foreign and domestic shoppers… The more-than-expected popularity of this option prompted Bic Camera to expand the system to the rest of its locations, the company says.”
Sub-Saharan Africa driving global market for mobile money
Sub-Saharan Africa driving global market for mobile money — GSMA — “The new study points to a decade of growth in mobile money services in the region following the launch of M-Pesa in Kenya in 2007. It notes that there are now seven markets in the region where more than 40% of adults are active mobile money users: Gabon, Ghana, Kenya, Namibia, Tanzania, Uganda and Zimbabwe.”
PayPal now available on App Store, Apple Music, iTunes and more
PayPal now available on App Store, Apple Music, iTunes and more — PayPal — “PayPal’s availability across Apple’s services further expands our vision of providing customers a variety of ways to easily make mobile purchases, such as asking Siri to make a payment using the PayPal app… Once PayPal has been selected, all future purchases with the customer’s Apple ID will be automatically charged to their PayPal account.”
Viewpost survey reveals 80% of Americans support ‘futuristic’ payment technologies and currencies
Viewpost survey reveals 80% of Americans support ‘futuristic’ payment technologies and currencies — Viewpost — “35% see facial recognition as a key authentication technology for making payments within the next ten years, and 32% of Americans trust facial recognition for securing electronic payments. Retinal scanning and voice control — these advanced biometric methods have gained traction in consumers’ consciousness, with some 31% citing retinal scanning as a viable technology for authenticating payments and 18% seeing themselves using voice control to make payments by 2027.”
Debit cards overtake cash to become number one payment method in the UK
Debit cards overtake cash to become number one payment method in the UK — British Retail Consortium — “For the first time the volume of retail purchases made by card now accounts for more than half of all customer transactions, according to the BRC’s latest annual Payments Survey, released today. This has partly been driven by UK customers increasingly using cards for lower value payments.”
Google gearing up to enter mobile payments In India by integrating Android Pay with UPI
Google gearing up to enter mobile payments In India by integrating Android Pay with UPI — Inc42 — “Google is developing a separate India-focused app, which it will name differently, in integration with a bank. It is expected that Google will launch a UPI-enabled app within the next two-three months for mobile payments. If this happens, it could be a big boost to given that Android is the dominant operating system in India.”
USA Technologies files for proposed public offering
USA Technologies files for proposed public offering — PARTNER NEWS — “USA Technologies Inc (USAT), a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, today filed a registration statement on Form S-1 with the US Securities and Exchange Commission for a proposed underwritten public offering of its common stock consisting of approximately $34.5 million of shares to be sold by USAT.”
Alibaba’s self-service Tao Cafe takes e-shopping offline
Alibaba’s self-service Tao Cafe takes e-shopping offline — Xinhua — “Entry into Tao Cafe in Hangzhou, capital of east China’s Zhejiang Province, is through ticket gates similar to those at subway stations, however, customers scan their smart phones instead of tickets… The 200-square-meter store offering beverages, fast food and snacks can accommodate 50 customers at a time. To enter and make a purchase, shoppers require only a smart phone with Alibaba’s Taobao ecommerce app.”
Quantum cheques could be a forgery-free way to move money
Quantum cheques could be a forgery-free way to move money — New Scientist — “Say Alice wants to pay Bob using a quantum cheque. She would have to go to the bank, verify her identity and then the bank would issue her with two qubits taken from its central quantum computer. These qubits are inextricably linked to the remaining qubits within the bank’s central computer – a quality known as quantum entanglement. Measuring the state of any one qubit in an entangled system will reveal the state of all qubits within that system. The bank can use this entanglement to verify that its coffers were the origin of a quantum cheque.”
What’s New in Payments 2: Special report sets out the latest thinking on the future of payments — free of charge
Payments experts from the European Banking Authority, Yandex, Vodafone, Orange, Dejamobile and Wirecard are among eight contributors to What’s New in Payments: Volume Two, a 76-page special report on the future of payments which is now available to download free of charge from the NFC World Knowledge Centre... More