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    Archive: News in brief

    Mobile to account for 20% of US POS payments by 2020

    October 21st, 2015

    US consumers will use their smartphones to make mobile payments at the point of sale five times a week by 2018 and, by 2020, 20% of POS transaction volume will be conducted via mobile devices, research from Carlisle & Gallagher Consulting Group reveals. “Mobile will account for at least 60% of US digital commerce revenue by 2020,” the company adds.

    Apple Pay now offered by more than 600 US banks

    October 21st, 2015

    Apple has added more than 70 banks and credit unions to its list of Apple Pay supporting financial institutions in the US, taking the total number to more than 600. “Adding new partners in groups ranging from a dozen to nearly a hundred certainly helps Apple’s claim that its mobile payment service is continuing to see double-digit growth each month,” 9to5mac reports.

    Microsoft to launch mobile payments?

    October 21st, 2015

    Microsoft is looking to relaunch Windows Wallet, a mobile payments app that stores credit cards and coupons for in-store and online payments through Windows devices, Microsoft’s Joe Belfiore has told The Verge. “Belfiore didn’t say when exactly a new wallet would launch or whether it would utilize NFC or other payment technology,” the publication reports, noting that the service would use the Windows Hello facial recognition platform Microsoft added to new devices in October.

    Dubai commuters to replace travel cards with watches

    October 20th, 2015

    Commuters in Dubai may soon be able to pay for travel using contactless watches from Watch2Pay. “People will be able to use the NFC-enabled watches to pay for metro, bus and taxi fares as well as using them for shopping through the embedded credit card,” Khalid Al Awadhi of Dubai’s Roads and Transport Authority (RTA) told Gulf News. “We have tested the devices and they have received the pass certificate by our technical team.”

    Irish make over 2m contactless payments every month

    October 20th, 2015

    People in Ireland are now making over two million contactless transactions with Visa debit cards every month, Visa Europe has revealed, representing a rate of one contactless payment per second. “Adoption and usage of contactless cards in Europe continues to grow, most recently marked by more than one billion transactions across Europe in the last 12 months,” the payment network says.

    NETS to launch HCE mobile payments in Singapore

    October 20th, 2015

    Electronic payments network NETS is planning to launch a host card emulation (HCE) based mobile payments service in Singapore. “A trial for this will be conducted in the second half of 2016,” MIS Asia reports. “Called NETS 2.0, the initiative aims to enable consumers to make payments via their mobile phone’s NFC function.” The company began piloting contactless wristband payments for public transport in September 2015.

    MasterCard to tokenize MasterPass

    October 19th, 2015

    MasterCard is to integrate a fully tokenized checkout experience within its MasterPass service, leveraging its MasterCard Digital Enablement Service (MDES). “This gives consumers the freedom to shop more securely online or in-app from any connected device,” the payment network says. “The Buy with MasterPass button is currently found within the website and apps of more than 250,000 merchants globally.”

    Orange Cash goes live across France

    October 19th, 2015

    Orange has launched its Orange Cash NFC mobile payments service across France after going live in selected French cities in February 2014. “More than 30,000 retailers like Ikea, Picard, Relay and many more are participating actively in the launch,” platform provider Wirecard says. The service was launched in Spain in May this year.

    SpareBank 1 acquires mCash for mobile payments

    October 19th, 2015

    Norway’s SpareBank 1 has acquired mobile payments provider mCash for an undisclosed sum. “With this acquisition, we strengthen our mobile efforts and are well positioned to meet future digital customer needs,” says the bank’s chairman Jan-Frode Janson. mCash lets users make in-store payments via QR codes, transfer funds and make online payments. It has more than 100,000 users and has signed up 600 stores.

    MCX adds ACH payments to CurrentC wallet

    October 19th, 2015

    US retailer-led consortium MCX is to add ACH payments capabilities to its CurrentC mobile wallet, using technology developed by Buy It Mobility Networks (BIM). “Using BIM’s technology, consumers will be able to connect their checking accounts to the CurrentC mobile wallet app and make payments at the cash register, table or pump at more than 70 brands nationwide,” MCX says. The consortium expanded its CurrentC beta to 150 stores last week.

    Citrus Pay raises $25m

    October 19th, 2015

    Indian payment services provider Citrus Pay has raised approximately US$25m from a consortium of new and existing investors. “The latest round, which closed almost a month ago, values the company around $90m to $100m,” India’s Economic Times reports. Citrus Pay announced a partnership with gift card solutions provider Qwikcilver to enable in-store mobile payments using gift cards and vouchers last month.

    32% of US retailers to accept contactless by 2019

    October 16th, 2015

    Nearly a third (32%) of retail establishments in the US will accept contactless EMV card payments by 2019, Javelin forecasts. “In the next wave of card issuance, Javelin believes the speed and convenience offered by contactless EMV cards could be instrumental in gaining top-of-wallet status, as well as attracting and retaining more affluent customers,” says the research firm’s Michael Moeser.

    Velocity Mobile picks up Tab

    October 16th, 2015

    Restaurant payment app provider Velocity Mobile has acquired Tab Payments, a mobile payments app for diners in Canada accepted at more than 100 restaurants in Toronto and Montreal. “The acquisition further expands Velocity’s reach, which now connects premier restaurants with global diners in six major cities in the US, UK and Canada,” Velocity Mobile says. Terms of the transaction have not been disclosed.

    NXP backs NFC hackathon

    October 16th, 2015

    PARTNER NEWS: Chip maker NXP is sponsoring a series of hackathons centred on NFC, Bluetooth Low Energy and RFID technologies. The first TrackHack event takes place from November 20-22 in London. “We want to see how people work with NFC, what the main issues are, how easy they find NFC designs, what other tools they may need and, of course, which simple applications they can create in only a few hours,” NXP told NFC World.

    MasterCard to extend tokenization to commercial credit cards

    October 16th, 2015

    MasterCard is to provide tokenization services to commercial credit card issuers, enabling corporations and business travellers to load eligible corporate credit cards within participating mobile and digital wallet services using the MasterCard Digital Enablement Service (MDES). “MasterCard will now enable tokenization across virtually all its products — consumer credit, debit and prepaid cards as well as small business and commercial cards,” the payment network says.

    Square to go public

    October 15th, 2015

    Mobile POS provider Square has filed for an initial public offering following reports that the company was planning to do so in July 2015. “The number of shares to be offered and the price range for the offering have not been determined,” the company says. “Square intends to list its common stock on the New York Stock Exchange under the ticker symbol SQ.”

    Zwipe raises $5m for fingerprint cards

    October 14th, 2015

    Zwipe, maker of a contactless payment card that includes an integrated fingerprint sensor, has raised US$5m in funding from Photon Future. “The Series B investment enables Zwipe to accelerate the commercialisation of its biometric authentication technology to finance further research and development activities,” the company says. The investment brings the total amount raised by Zwipe to $11m.

    Apple Pay adds 29 US banks

    October 14th, 2015

    Apple has added 29 more banks and credit unions to its list of Apple Pay supporting financial institutions in the US. “Perhaps the most significant inclusion being Scottrade, the nationwide trading and investments firm,” AppleInsider reports. “Some other notable additions include the Los Angeles Police Federal Credit Union, the multi-state Arvest Bank, and the Austin-area Velocity Credit Union.”

    One billion people make use of mobile banking

    October 13th, 2015

    More than 1bn mobile phone users will have used their devices for banking purposes by the end of this year, Juniper Research predicts. “This global user base is forecast to reach 2bn by 2020, by which time it will represent 37% of the global adult population,” the researchers add.

    LG to launch mobile payments service?

    October 13th, 2015

    LG has reportedly filed trademarks for ‘LG G Pay’ and ‘G Pay’ in South Korea, suggesting that the handset maker could be looking at launching its own mobile payment service. “According to IT industry and financial industry, LG Electronics just finished applying for trademark of G Pay in the US at the end of September after it did so in South Korea,” ETNews reports.

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