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Archive: Payments

Alpha Bank launches NFC in Greece

July 15th, 2014

Greece’s Alpha Bank has officially launched its Tap n Pay NFC mobile payment service. The move follows successful pilots which began in February this year. The service works with a Vodafone SIM card that stores Alpha Bank-issued Visa cards and can be used to make payments at any of the 5,500 contactless POS terminals in Greece.

Australian supermarket chain launches mobile wallet that works with NFC stickers

July 15th, 2014

Australian supermarket chain Coles has launched the Coles Mobile Wallet, an iOS and Android app that works in conjunction with an NFC sticker to provide customers with a way to make mobile payments, manage their… More

IDATE forecasts NFC phones and payments volumes

July 15th, 2014

Twenty-eight million consumers will use their NFC phone to make a mobile payment in 2014, a new forecast by IDATE reveals, and the value of transactions conducted via NFC will rise from an estimated €4.6 billion… More

Australian credit union launches HCE payments

July 14th, 2014

CUA, Australia’s largest customer-owned financial institution, has become the first in the Asia Pacific region to launch an NFC payments service that makes use of host card emulation (HCE) technology. To use the new redi2PAY… More

Singapore ups contactless spending

July 11th, 2014

Singapore’s United Overseas Bank has reported a more than three-fold increase in contactless card transactions in the year to April 2014, with more than 500 contactless purchases now being made each day. Nine out of 10 contactless payments are for everyday items such as groceries, dining and pharmacy purchases, while the most frequent users of contactless cards are professionals and executives aged 30 to 45.

PayPal pays next day

July 11th, 2014

PayPal is piloting Next-Day Settlement (NDS), a new service that cuts the time taken for transfers between a merchant’s PayPal account and their bank account from the usual three or four days to 24 hours. “We’ve been working with our banking partners to optimize processes on both their end and ours so that we can make the 24-hour transfer a reality,” PayPal says.

China UnionPay to offer QR payments?

July 11th, 2014

China UnionPay is developing a QR code-based mobile payment service that will provide a way to make both online and offline mobile payments, according to Marbridge Consulting. The company, which has been heavily involved in the rollout of NFC payments in China, is now in discussions with banks regarding promotional activities for the new service, the report says.

Seqr heads to UK

July 10th, 2014

Swedish firm Seamless, developer of the NFC and QR-based Seqr mobile payments service, has signed deals with Optimal Payments and Contis Group to bring the solution to the UK. Last week, Seamless signed a deal with Incomm to take Seqr to the US market.

Synchrony invests in LoopPay

July 10th, 2014

Synchrony Financial, formerly GE Capital Retail Finance, has made “a strategic investment” in LoopPay, developer of a mobile phone add-on that lets US consumers make payments at merchants equipped with magnetic stripe card terminals. The amount of the investment has not been disclosed.

Two thirds of UK smartphone owners open to the idea of mobile wallets

July 10th, 2014

Two thirds of UK smartphone owners are open to the idea of using a mobile wallet, according to a survey conducted by Marketing Sciences — but most consumers want to use a mobile wallet to… More

British Banking Association reports on UK’s banking ‘revolution’

July 9th, 2014

Mobile and internet banking in the UK is now being used for transactions worth nearly £1bn a day and totalling £6.4bn a week, up from £5.8bn last year, according to an industry-wide report on how… More

Taiwanese banks to set up their own NFC TSM

July 8th, 2014

Taiwan’s Fair Trade Commission has approved a plan to establish a TSM platform that the country’s financial institutions will be able to use to introduce mobile payments services, Want China Times reports. Financial Information Service Co, the National Credit Card Center of ROC and the Taiwan Clearing House will jointly create the platform. The partners aim to have the TSM service up and running in December 2014.

Indonesia to get NFC payments

July 8th, 2014

Indonesian mobile network operator Telkomsel is to launch an NFC mobile payment service in October this year, in partnership with a bank, according to Indonesian Business Daily. Telkomsel currently has 2.5 million customers equipped with an NFC-enabled device.

Estonia to get Worapay mobile payments

July 8th, 2014

Lithuania-based mobile payments provider Worapay is set to go live in Estonia this month with partner and local businessman Rando Parna, who has acquired a license to operate the technology. Parna plans to invest up to €100,000 to push the product and will develop a network of merchants in the country. Worapay also plans to launch in Latvia, Poland, Czech Republic, Finland and Spain.

NFC payments venture Isis to change its name

July 8th, 2014

Isis, the NFC venture set up by US carriers AT&T, Verizon and T-Mobile, is to get a new name. The move is in response to the growing profile of the Isis militant group. “From our… More

Moven raises $8m series A

July 7th, 2014

Mobile banking, payments and budgeting startup Moven has raised US$8m in a series A funding round and will use the money to invest in new features and tools and to build its international network of partners. “We believe that in short order millions of customers will be using our app each day to help them spend, save and live smarter,” says CEO Brett King.

Bankia offers NFC stickers

July 7th, 2014

Spanish bank Bankia has launched a mobile payments service that uses NFC stickers attached to the back of a customer’s smartphone to make purchases at any contactless POS terminal. Consumers need to download the Bankia Mobile Wallet app to use the service. Stickers can be requested via Bankia’s website or any bank branch.

Hungarian Mobile Wallet Association reports NFC pilot results

July 7th, 2014

Participants in The Hungarian Mobile Wallet Association’s MobilTarca NFC pilot made 41,000 payments valued at more than 120 million HUF (US$525,000) during the first 12 months of the trial, the association has revealed. Users also… More

One third of US mobile banking users log in at least once a day

July 4th, 2014

Some 31% of Americans who use a mobile banking app access the service at least once a day and more than four in five use it once a week or more, according to new research from Bank of America. Six in 10 respondents are not yet comfortable with the idea of using their smartphone as a wallet in the future, however, the survey found.  More

Seqr signs up new partners

July 4th, 2014

Seamless has signed up US-based prepaid card provider InComm and the Belgian arm of POS terminal provider Ingenico as partners for its Seqr mobile payment solution. InComm offers stored value cards from more than 500 brands and will enable Seqr-accepting stores to digitize their gift cards. Ingenico Payment Services will enable its more than 160,000 merchants in Belgium to offer Seqr mobile payments to their customers.

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