Thursday 27 October 2016 | RSS


    Archive: News in brief

    Mobile wallet transactions to increase 61% by 2021

    April 11th, 2016

    The number of mobile wallet transactions across Europe will increase at a compound annual growth rate (CAGR) of 61.8% from 2016 to 2021, Smart Insights predicts. “The total mWallet revenue for the payments industry is forecasted to experience a CAGR of 50% over the 2016-2021 period, surpassing the €1bn bar by 2021,” the firm adds.

    Adobe prototype store uses RFID shopping bags

    April 11th, 2016

    Shoppers at Adobe’s prototype “store of the future” in Las Vegas are being given RFID chip-enabled shopping bags that allow them to purchase items simply by putting the bags on a checkout counter. “The bags automatically inventory any items put in them and then charge a customer’s credit card when they exit the store,” Fast reports. “Beacons in the store help the retailer identify the customer.”

    Ingenico buys Think&Go

    April 11th, 2016

    POS terminal maker Ingenico has acquired NFC specialist Think&Go. “Think&Go has developed a technology that enables any kind of digital display to interact with connected objects such as smartphones and transit passes,” Ingenico says. “By drawing on Ingenico Group’s global network and R&D capabilities, Think&Go can now grow its business faster and achieve a twenty-fold increase in the number of screens deployed within three years.”

    38% of payments in Europe will be digital by 2020

    April 11th, 2016

    More than a third (38%) of all payments made across Europe will be digital by 2020, MasterCard predicts. The payment network’s MasterCard Digital Enablement Service (MDES) is now in progress in 18 European countries and already connects banks representing more than 70% of UK account holders to Apple Pay, the company adds.

    One in three UK consumers don’t trust contactless payments

    April 11th, 2016

    Nearly one third (31%) of UK consumer never pay by contactless because “they don’t trust it”, research from Future Thinking reveals. 35% of men never make contactless payments due to lack of trust, compared to 29% of women, while 22% of under 35s never pay by contactless, compared to 43% of over 55s. 14% don’t know if their cards are contactless and 27% think £30 should be the maximum amount for a contactless payment. Only 9% of the 2,315 respondents said they pay with contactless and hope the limit rises.

    Australian banks gearing up to support Apple Pay?

    April 11th, 2016

    Australia’s ANZ Bank, Suncorp Bank and Bank Australia may soon begin supporting Apple Pay, with iPhone In Canada reporting that a reader successfully registered an ANZ Visa card for use on the mobile payment service. “It would appear something is brewing with Australian banks, as we’re told Suncorp Bank and Bank Australia are geared to support Apple Pay in the latter half of this year,” the publication says.

    NFC payments to reach $95bn by 2018

    April 11th, 2016

    The global value of NFC mobile and wearable payments is expected to reach US$95bn annually by 2018, up from less than $35bn last year, according to Juniper Research. “Apple’s entry into NFC gave the industry a much needed boost and could well be seen as the tipping point for the technology,” says the firm’s Nitin Bhas.

    Priorbank launches HCE payments in Belarus

    April 11th, 2016

    Customers of Priorbank in Belarus can now make mobile payments using a new HCE service that supports MasterCard and will be extended to include Visa cards later this year. “The bank plans to implement the mobile issuing service for both debit and credit cards,” says technology provider OpenWay. “Each transaction over 200,000 Belarusian rubles (about US$10) is confirmed by PIN.”

    Samsung Pay looks to “next generation” biometric security

    April 5th, 2016

    Samsung is developing new biometric sensors for mobile phones with the aim of adding additional security to Samsung Pay. “Right now, we use fingerprint,” Samsung Pay’s Elle Kim told delegates at Money20/20 Europe. “As we speak, engineers at Samsung are developing the next generation of biometric sensors so that our phones and Samsung Pay can be even more secure.”

    Amazon expands its payments business

    April 5th, 2016

    Amazon has launched the Amazon Payments Partner Program, a new service designed to enable ecommerce platform providers and developers to offer merchants Amazon Payments, which allows customers to log in and pay using their account with the online retail giant. “The program is free to participate in and available by invitation in the US, Germany, UK and Japan,” Amazon says.

    Tesco rolls out PayQwiq mobile payments to 524 stores

    April 5th, 2016

    UK supermarket giant Tesco’s PayQwiq mobile payments service, which lets customers pay using an Android or Apple phone by snapping an image of a QR code located at each checkout, is now live in 524 of the retailer’s stores in London and Edinburgh. Customers with a Tesco Clubcard automatically get reward points when they pay with PayQwiq, the retailer says, making checkout quicker for loyalty cardholders than paying via either contactless or chip and pin. The service has been on trial since September 2014.

    MasterCard reports on tokenization in Europe

    April 5th, 2016

    MasterCard is working on more than 60 projects involving its MDES tokenization platform in Europe, the payments network has revealed. “Today card issuers and wallet service providers have MDES projects in progress in 18 countries across Europe,” MasterCard says, and the service is currently being used to connect banks “representing more than 70% of UK account holders” to Apple Pay.

    MasterCard reports on ‘selfie pay’ popularity

    April 5th, 2016

    MasterCard’s Identity Check service, which lets consumers authenticate payments by taking a picture of themselves using their smartphone, has “gone like wildfire in the trials that we’ve done in the Netherlands and the US”, Ann Cairns, the payments network’s president for international markets, has revealed during a keynote at Money20/20 Europe in Copenhagen. “People love taking selfies so they see it as a fun thing rather than ‘Oh my goodness, I’ve got to put my PIN number in, I’ve got to remember by password’.”

    Google confirms Wallet Card termination

    April 1st, 2016

    Google has confirmed that it is to terminate its Wallet Card on June 30. “Moving forward, we want to focus on making it easier than ever to send and receive money with the Google Wallet app,” the company says. Reports that Google was to end support for the physical card emerged earlier this week following an app teardown by Android Police.

    Federal Reserve reports on US mobile payment adoption

    March 31st, 2016

    Nearly a quarter of US adults with a mobile phone (24%) and 28% of those with a smartphone made a mobile payment in the 12 months prior to November 2015, a survey by the Federal Reserve reveals. “For smartphone owners who reported making payments with their phones, the most common types of mobile payments were paying bills, purchasing a physical item or digital content remotely and paying for something in a store,” the organisation says.

    Waitrose to open first cashless store this summer

    March 31st, 2016

    Upmarket UK supermarket chain Waitrose is to become the country’s first major supermarket to operate a cashless store where customers will only be able to make payments by using a card or mobile phone at one of its five self-service checkouts. The store will open inside telecommunications company Sky’s new head office building in Osterley this summer.

    Barclays enables Apple Pay support?

    March 30th, 2016

    Barclays appears to be in the process of enabling support for Apple Pay in the UK, according to a terms and conditions page tweeted by a number of the bank’s customers. Barclays revealed in January that it would support the mobile payment service within “60 to 75 days”. The bank also confirmed to NFC World that it would not be supporting the launch of Google’s Android Pay in the UK, in favour of focusing on its own host card emulation (HCE) based NFC mobile payments service.

    Xiaomi to launch Xiaomi Pay?

    March 30th, 2016

    Handset maker Xiaomi has filed a patent in Korea for a mobile payment service called Xiaomi Pay, The Korea Herald reports. “There is speculation that Xiaomi’s upcoming mid-range smartphone Mi5 will feature the NFC mobile payment service,” the publication says. “The patent filing in the Korean market indicates that the Chinese tech firm plans to roll out its smartphone here.” The Mi5 was unveiled during Mobile World Congress and is equipped with NXP’s secure element and NFC solution.

    A third of Americans unconvinced about mobile payment apps

    March 29th, 2016

    More than one third of Americans (36%) don’t feel a need for mobile payment apps, compared to 12% of Mexicans and 13% of Chileans, according to mobile banking service Fintonic. 23% of Americans don’t trust the technology, compared to 4% of Mexicans and 6% of Chileans. “Latin American countries such as Chile and Mexico are much more willing to embrace technological advancements in banking like mobile wallets,” the company says.

    Google to terminate Google Wallet Card

    March 29th, 2016

    Google will terminate its physical Google Wallet Card on June 30, an app teardown from Android Police reveals. “Google will continue all operations with the Wallet Card through May 1,” the publication reports. “This won’t impact the Google Wallet app or any accounts, since they will continue to be useful for sending and receiving money from other users. Balances can be withdrawn at any time. No reason has been given for terminating the physical card.”

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