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Archive: News in brief

OneBit tests Bitcoin payments via NFC

July 27th, 2015

Bitcoin mobile wallet provider OneBit has begun alpha testing its mobile payment service which works via NFC at the point of sale wherever MasterCard is accepted. “It will no longer be about whether or not a certain store accepts Bitcoin because the app executes the payment in the local currency,” Cryptocoins News reports. “The company will be announcing a more public version of the software in the coming months.”

US shoppers buying into mobile payments

July 27th, 2015

Almost one in five US consumers (18%) have used a mobile device to make either an in-store or online purchase, up from 16% in 2014 and 12% in 2013, research from Synchrony Financial reveals, based on nearly 7,000 Synchrony Bank cardholders and shoppers nationwide. “Value propositions, including free shipping, loyalty programs and personalised offers, continue to be important,” the company adds.

Square ‘files for public offering’

July 27th, 2015

Mobile POS provider Square is reportedly set to go public after the company filed confidentially for an initial public offering. “Square has been working with Goldman Sachs Group, Morgan Stanley and JPMorgan Chase & Co,” Bloomberg reports. The company first surfaced in 2009 and most recently unveiled a new mobile POS device to enable small traders to accept Apple Pay in the US.

In-store tests for CurrentC mobile wallet

July 24th, 2015

US retailer-owned mobile payments consortium MCX is to test its CurrentC mobile wallet in stores next month, Bloomberg reports, adding: “MCX expects to formally introduce the CurrentC app some time in the third quarter.” MCX unveiled the CurrentC brand in September 2014 and confirmed to NFC World it would launch in a “mid-sized market” in April.

25% of Brits to make NFC mobile payment this year

July 24th, 2015

A quarter of British consumers (25%) expect to make an NFC mobile payment in the next year, research from MasterCard reveals. Seven in 10 of the 1,044 respondents worry that if they lost their phone someone could use it to buy things, while more than half fear their phone could be hacked. Four in 10 plan to wait for others to confirm NFC mobile payments are safe before trying it themselves.

Apple Pay adds 35 US banks

July 23rd, 2015

Apple has added an additional 35 banks and credit unions to the list of US financial institutions that support Apple Pay. “Apple Pay now has over 375 participating issuers nationwide and dozens more plan to support the NFC-based mobile payment service in the future,” MacRumors reports.

Apple Pay to hit 1.5m US locations by year end

July 22nd, 2015

Apple Pay is “on track” to be accepted at more than 1.5m locations across the US by the end of 2015, including at some 700 universities and colleges such as Auburn University, the University of California Irvine, Colorado State University, the University of Kentucky and the University of Oklahoma. “In the US, we’ve seen fantastic support from merchants of all sizes,” Apple CEO Tim Cook said during the company’s third quarter earnings call.

LivQuick raises $1.6m for mobile wallet

July 22nd, 2015

Mumbai-based LivQuik, the company behind mobile payment service QuikWallet, has raised US$1.6m from existing investor Snow Leopard Ventures to scale its team, technology and merchant base. “Payment options include SMS, NFC, QR codes, mobile applications and POS software,” IndianWeb2 reports. “Currently, it caters to 1,000 merchants. It has around 100,000 users.”

Apple to show ads based on prepaid balance?

July 21st, 2015

Apple could begin sending targeted advertising to users based on the amount of prepaid funds they have available, according to a newly published patent application. “Goods and services are marketed to particular target groups of users sharing a common profile which may be selected to increase the likelihood of the users responding to the advertisements,” the patent says. “The common profile of users may be based on the amount of prepaid credit available to each user.”

7-Eleven offers mobile payments in Taiwan

July 21st, 2015

Customers of convenience store chain 7-Eleven in Taiwan can now make mobile payments using a mobile wallet provided by Pi Mobile Technology backed by a bank card supplied by CTBC Bank. “Consumers can make electronic payments of less than NT$1,000 (US$31.95) at 7-Eleven stores nationwide with the Pi app running on their smartphones as the app creates a barcode on a user’s smartphone display,” Taipei Times reports.

Half of UK young adults pay with contactless each month

July 21st, 2015

Nearly half of 25-34 year olds in the UK (44%) use contactless payments in an average month, research from YouGov and payment systems provider ACI Worldwide has revealed. 54% of the same age group are also using mobile banking at least once a month, the survey found.

Nearly half of US diners interested in mobile payments

July 21st, 2015

Some 46% of US diners like the idea of using their mobile phone to pay in restaurants even though they have never done so, while of the 13% that have tried it over half liked the experience, research from restaurant booking service OpenTable finds. “Our research suggest that the majority of consumers will ultimately be interested in paying for restaurant meals on their phone, just as they swipe to pay in other areas of their lives today,” the company says.

One in ten UK consumers experience Apple Pay issues

July 21st, 2015

One in ten UK consumers using Apple Pay experienced issues when using the contactless payment service during its first week, research from social media company Brandwatch reveals. The findings, based on analysis of more than 26,000 tweets, also reveal the most popular use for the mobile payments service so far is paying on Transport for London’s (TfL) transportation network, followed by making purchases at Pret a Manger, Tesco, Waitrose and Boots.

Transport for London warns of Apple Pay risks

July 17th, 2015

Transport for London (TfL) has warned commuters of potential risks when using Apple Pay to pay for journeys on the city’s public transport network, including a flat battery that could result in penalty fares and the possibility of being charged twice if they carry both an iPhone and Apple Watch. The notice comes in the week Apple Pay launched in the UK. Meanwhile, London Evening Standard reports that passengers using contactless bank cards were penalised by almost £8m in eight months “after failing to touch out at ticket barriers”.

Reserve Bank of India asked to increase mobile wallet limit

July 17th, 2015

One97 Communications, owner of mobile payment platform Paytm, has asked Reserve Bank of India (RBI) to increase the limit on money that can be kept in a mobile wallet to Rs 25,000 (US$393) from Rs 10,000 (US$157). “One97 Communications, which has investment from the Alibaba group, is also building a mobile marketplace and aims to have half a billion Indians on the Paytm platform before 2020,” Times of India reports.

Lenovo adds eSE to new smartphones

July 17th, 2015

Lenovo is to equip its new smartphones in China with Oberthur Technologies’ (OT) Pearl embedded secure element (eSE) to offer mobile payment and transport services. “Equipping three different smartphones models with OT’s eSE, Lenovo will provide Chinese users with convenient and secure NFC services, enhancing their transit and payment experience,” OT says.

Samsung Pay trial in Korea confirmed

July 17th, 2015

Samsung has confirmed it began testing Samsung Pay with Korean credit card firm Samsung Card on July 15 for select customers in Korea. “Users of the Galaxy S6 and S6 Edge are the first to have access to Samsung Pay,” Samsung says. Rumours surfaced about the plans to trial the mobile payment solution earlier this month.

Purchases on Google test confirmed

July 16th, 2015

Google has confirmed it is testing a Purchases on Google service with a “limited number of retailers”, following rumours of the company’s plans in May. “When a shopper searches on mobile for a product such as women’s hoodies, she may see a shopping ad with ‘Buy on Google’ text,” Google says. “After clicking the ad, she’s taken to a retailer-branded product page hosted by Google.”

11% of UK consumers make in-store mobile payments

July 16th, 2015

More than one in 10 (11%) of UK consumers have made an in-store mobile payment and 18% are interested in doing so, research from nVest Ventures reveals. Millennials — those born after 1981 — are most interested in mobile payments (41%), while one in five consumers find paying with cash inconvenient, rising to 26% among 16- to 24-year-olds.

US consumers put trust in biometrics

July 16th, 2015

Some 41% of US consumers have a “high level” of comfort when logging in to a website or mobile app using a thumbprint or face/eye scan, research from Gigya finds. “Consumers are more privacy conscious than ever and this year’s survey results indicate people are taking proactive steps to safeguard their personal data,” the company says.

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