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Archive: Payments

US to get 575m chip cards next year

August 21st, 2014

More than 575million EMV payment cards will have been issued by the end of 2015 by nine leading US card issuers who are members of the Payments Security Task Force (PST), an organisation set up in March 2014 “to drive executive level discussion that will enhance payments system security”. Members of the PST include Bank of America, Capital One, Chase, Citi, Discover, First Data, MasterCard, Visa, US Bank and Wells Fargo.

Invitation to contribute to the NFC World+ Knowledge Centre

August 7th, 2014

NFC World+ is introducing a new service in September 2014 that will go beyond the news to provide our readers with in-depth information on the technologies driving the future of commerce. Initial expressions of interest are now invited from readers who would like to share their knowledge and experiences with our 100,000+ monthly visitors. More

Merchants to test BLE payments at Vilnius street fair

August 7th, 2014

More than 250 merchants taking part in this year’s Vilnius City Fiesta will be testing out a Bluetooth Low Energy (BLE) mobile payments service that uses EVP International’s Paysera platform. The solution will also use… More

Paym reaches 1m users

August 7th, 2014

More than one million Brits have now registered for Paym, the mobile payments service operated by the UK’s Payments Council, with just over £6.5m being sent on the platform since its launch in April this year. “It’s hugely encouraging that one million people have chosen to register for Paym already, but this milestone only marks the start of growth in the service,” says the company’s Jemma Smith.

KakaoTalk to add payments

August 6th, 2014

Korean mobile messaging service Kakao is to launch a new payment solution in September, in collaboration with nine credit card firms, that will let its 100 million KakaoTalk customers make payments using only their password. “Through integration of the payment modules to the KakaoTalk network, the company will help users buy goods simply with the KakaoTalk password once they register credit card or account information at the first transaction,” the Korea Times reports.

Westpac NZ unveils augmented reality banking app

August 5th, 2014

Westpac New Zealand is to release a mobile banking app that uses augmented reality and 3D imaging to let customers with an iOS device check their credit and debit card balances, make payments and find… More

UK contactless transactions surge

August 5th, 2014

The number of UK contactless payments has risen 18% in just one month to almost 20 million transactions in May 2014, Visa Europe has revealed. “Growth in Visa contactless payments is accelerating at a phenomenal pace,” says Mark Austin, director of contactless at Visa Europe.

GSMA publishes mobile money paper

August 5th, 2014

The GSMA has published a discussion paper on how increased smartphone adoption in the developing world will impact the global mobile money industry. Enhanced user experiences, an accelerated pace of new product development and increased competition are all highlighted as likely developments by the Smartphones & Mobile Money paper.

Analysts report on Apple/Visa partnership

August 5th, 2014

“We think a partnership between Apple and Visa would make strategic sense and believe an announcement could happen as early as this fall,” a team of Pacific Crest Securities analysts has concluded in a new report that follows reports suggesting that two are in talks on mobile payments. “A combination of cloud-based (HCE) and physical (SE or TEE) seems like a plausible security strategy for Apple.”

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

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