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Archive: Payments

US merchant groups call for creation of open tokenization standards

August 1st, 2014

Leading merchant groups in the US have come together to call for the creation of an alternative set of open standards for tokenized payments that would be managed by an independent body such as ISO or ANSI — rather than by the payments industry. More

Facebook closes gifts business

August 1st, 2014

Facebook is to close down its gifts service on August 12, Techcrunch reports. “Most of the team has already been reassigned to other commerce initiatives. Those include the Buy button for making ecommerce purchases within Facebook, Auto-Fill for auto-populating your billing info in other shopping apps, and Custom Audiences that let brick-and-mortar merchants retarget Facebook ads to existing customers.”

Square unveils EMV card reader

August 1st, 2014

Mobile POS provider Square is to introduce a new card reader that can be used to process both EMV chip card and magnetic stripe card payments. “Square Reader for chip cards is the most advanced and affordable way for you to be ready for the cards all of your customers will soon be carrying,” the company says. “No commitments, long-term contracts, or painful ‘reterminalization’ fees.”

American Express tests HCE for NFC payments

July 31st, 2014

American Express is working with Croatia’s Privredna Banka Zagreb (PBZ), part of the Italy-based Intesa Sanpaolo banking group, to pilot an NFC payments service that makes use of host card emulation (HCE) technology. The pilot… More

Vodafone Italia pilots smart shopping posters

July 29th, 2014

Vodafone Italia is working with high-end Italian food market chain Eataly on a pilot project that lets 2,500 staff tap their NFC phone or scan a QR code on a smart poster to order and pay for groceries that are then delivered to their home or office. The posters come in a range of sizes and can be applied to various surfaces, enabling them to be placed in a wide range of locations, the partners say.

Interest in mobile payments grows

July 29th, 2014

Some 53% of consumers globally report they have either used or are interested in redeeming offers and coupons with their phones, while 44% have used or are interested using their mobile device to pay for things in stores and restaurants, according to new research from Ovum. “Combined rewards and offers in conjunction with mobile payments are set to be a common feature in the near term as a means to reach consumers and drive spending in new ways,” the analysts conclude.

Zuckerberg: Facebook is working on payments but it will take time to get it right

July 28th, 2014

Facebook is looking into the potential of adding payments capabilities across its business, CEO Mark Zuckerberg has explained during the company’s first earnings call following the hiring of PayPal boss David Marcus to head its… More

Starbucks now processes six million mobile payments a week

July 28th, 2014

Coffee chain giant Starbucks now has 12 million active users of its mobile app in the US and Canada alone. Customers make six million mobile payments a week — representing more than 15% of all… More

Amazon to enter mPOS market?

July 28th, 2014

An Amazon Card Reader will be available from next month costing US$9.99, according to internal documents from office supplies retailer Staples obtained by 9to5Mac. The new product will be located “alongside existing card readers from Square, PayPal, and Staples’ own in-house brand”, the documents show. The Wall Street Journal first revealed in February that Amazon planned to introduce a Kindle Checkout solution this summer.

PayPal goes Dutch on mobile payments

July 28th, 2014

PayPal has partnered with MyOrder, the mobile ordering and payment system backed by the Netherlands’ Rabobank, to let customers “order and pay for food or drinks ahead of arriving at a cafe; to pay at the table in a restaurant without calling over the waiter, or pay for parking without searching for the closest meter”. The service is available at 1,500 physical locations, PayPal says.

London Underground to accept NFC payments

July 25th, 2014

Users of mobile network operator EE’s Cash on Tap NFC payments service will be able to use their mobile phone to pay for travel on the London Underground, Docklands Light Railway and London Overground services… More

Square adds actions to POS transactions

July 25th, 2014

“Square Register’s sales, refund and settlement data can now all be used as triggers for IFTTT recipes,” GigaOm reports. “If an employee makes a big sale, IFTTT could automatically send a congratulatory email or SMS to the salesperson or note the sale in a Google Doc. Or if a store issues a big refund, IFTTT could notify the owner, reminding him or her to follow up with the dissatisfied customer.”

Visa invests in LoopPay

July 25th, 2014

Visa has invested an undisclosed sum in Magnetic Secure Transmission (MST) inventor LoopPay. “The investment is part of a larger strategic funding round for LoopPay, announced earlier this month, which includes Synchrony Financial (formerly GE Capital Retail Finance) and other strategic partners not yet named,” the mobile payments startup says.

Waitrose showcases QR payments

July 25th, 2014

Upmarket UK supermarket chain Waitrose has shown off a proof-of-concept mobile shopping service, based on Ensygnia’s Onescan technology, that “allows customers to complete a payment in-store using a mobile phone app, completing a purchase direct from any iPad screen in the store, without the need to head to the till point”.

Korean banks accelerate mobile wallet plans

July 25th, 2014

Korea’s banks are making a renewed push on mobile payments in the face of increasing competition from outside the financial services sector, Korea Bizwire reports, citing Hana Bank’s ‘Hana N Wallet’, Industrial Bank of Korea’s ‘IBK One Money’, and Shinhan Bank’s ‘Zoo Money’ and ‘My Shinhan Pay’ services. “The sense of urgency that IT companies are encroaching on the mobile payment market is making banks competitively beef up their smartphone-based electronic commerce services and scramble into the war of mobile wallet,” it says.

Consumers shop more on smartphones

July 25th, 2014

“Nearly all mobile payments growth on Adyen’s platform in Q2 originated from smartphones,” the payments processor’s latest global Mobile Payments Index has found. “Europe leads the world in mcommerce transactions, with 22.7% of all transactions originating from a mobile device (12.4% phone; 10.3% tablet). This represents a near 40% increase from June 2013, when mobile represented 16.3% of total transactions.”

Visa to launch new payments service in September, Apple could be the first customer

July 24th, 2014

Visa has unveiled a suite of services designed to “facilitate secure payments across a broad range of internet-connected devices and wearables”. The announcement of the new Visa Digital Solutions service comes amid reports that Apple… More

Westpac trials HCE mobile payments in New Zealand

July 22nd, 2014

Westpac has begun a host card emulation (HCE) pilot in New Zealand, enabling customers’ credit and debit card details to be securely stored in the cloud and then used at the point of sale to… More

Consult Hyperion demos EMV mobile payments over BLE on an iPhone

July 22nd, 2014

UK payments technology specialist Consult Hyperion has unveiled a proof-of-concept solution that uses Bluetooth Low Energy (BLE) and host card emulation (HCE) to enable both iPhone and Android NFC phone owners to make MasterCard, Visa… More

IBM partners with Monitise

July 21st, 2014

IBM and Monitise have formed a strategic alliance designed to help financial institutions deliver cloud-based mobile banking, payments and commerce solutions to their customers. “The combination of our capabilities with Monitise will provide value to our clients, enhance the customer experience and drive business growth,” says IBM senior vice president Steve Mills.

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