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    Archive: News in brief

    Apple Pay adds more than 50 banks in the US

    April 20th, 2016

    Apple has added more than 50 banks and credit unions to its list of Apple Pay supporting financial institutions in the US, 9to5mac reports. The update follows the mobile payment service’s launch in Singapore earlier this week.

    US pilot for real-time payments system

    April 20th, 2016

    Financial services provider FIS and banking association The Clearing House (TCH) are to pilot a real-time payments system with financial institutions in the US in the first quarter of 2017, with an initial focus on bill payments. “TCH, which owns and operates the system, has partnered with FIS, who will use the system to develop innovative new services and eventually connect its financial institution clients,” the companies say.

    Mobile ticket purchases to hit 23bn by 2020

    April 19th, 2016

    Almost 23bn transport and events tickets will be purchased globally using mobile devices by 2020, Juniper Research predicts, more than double the volume expected this year. “With a number of transport agencies enhancing app capabilities and integrating new payment services such as Apple Pay, the past 12 months have witnessed an increase in mobile ticketing users using apps for payments as well as ticket delivery and validation,” the firm says.

    Demand for coins is “as strong as ever”, says The Royal Mint

    April 19th, 2016

    “Cash is still the most prominent payment method for UK consumers and global demand for coins is as strong as ever,” says The Royal Mint in response to research conducted by UK supermarket chain The Co-Op that predicted mobile payments will account for 65% of its transactions by 2025. “The demise of cash has been predicted for a long time but it remains the currency option the general public turns to for confidence, convenience and security,” the government-owned company adds.

    Baidu Wallet launches in Thailand

    April 19th, 2016

    China’s Baidu has launched its Baidu Wallet mobile payment service in Thailand, enabling Chinese tourists to pay for goods and services there with their mobile phone. “Travelers can use Baidu Wallet to scan the QR codes of the app’s partnered merchants and enter the amount they need to pay,” China Daily reports. The service is also expected to expand to South Korea, Japan, Hong Kong, Macao and Taiwan.

    Samsung Pay adds major banks in US

    April 19th, 2016

    Samsung Pay will soon support eligible credit and debit cards from TD Bank and Regions Bank, taking the total number of supporting banks and credit unions in the US to 130 — more than 75% of the country’s credit and debit card market. “Samsung Pay supports all major payment networks and many of the country’s major banks, and it continues to expand its partnership ecosystem,” Samsung says.

    Bank of America reports on mobile banking

    April 18th, 2016

    Bank of America added 910,000 new mobile banking users during the first quarter of 2016, resulting in a total of almost 20m active users, CEO Brian Moynihan revealed during the bank’s Q1 earning results. 16% of all deposit transactions with the bank are from mobile devices but mobile wallet payments represent less than 0.2% of the total payments made with Bank of America cards.

    New South Wales to get contactless travel

    April 18th, 2016

    Australian commuters across New South Wales will be able to pay for public transport with their contactless credit and debit cards from next year, the NSW Government has announced. “A lot of critical work needs to be undertaken in the first stage of this project such as finalising partnerships, working with the finance and contactless payments sector, developing the software and then, in 2017, undertaking a customer trial,” says minister for transport and infrastructure Andrew Constance.

    Hungarian festivals to see 7m cashless payments this year

    April 14th, 2016

    The number of cashless transactions at Hungarian festivals will reach 7m this year, representing an increase of 27% compared to last year’s 5.5m, research from Festipay predicts. “In 2015, the most frequently visited Hungarian festivals were 90% cashless,” the payment solutions provider says. “This year, Festipay electronic payment solutions will be used at as much as 18 festivals.”

    Canada sees rise in contactless spending

    April 14th, 2016

    The number of contactless transactions made in Canada increased 14.71% in the first quarter of 2016 compared to Q1 2015, with the total amount spent rising by 108.84%, research by Moneris reveals. “Comfort on the part of consumers coupled with the payment infrastructure we have built here in Canada sets us up well to take advantage of the new mobile payment options entering the market,” says the company’s Angela Brown.

    Mobeewave launches P2P payments app

    April 14th, 2016

    Canadian consumers can now accept payments by having a contactless card tapped against their NFC phone using PayMeTap, a P2P payments app developed by Mobeewave. After entering the amount to be paid, “the only action required is to tap the card you want to charge to your phone and money is deposited in your account within 48 hours,” the company says. “The person making the payment doesn’t need to be signed up to the service.”

    Shake enables Bitcoin payments using NFC

    April 13th, 2016

    Bitcoin wallet provider Shake has introduced the first version of its app to let consumers make everyday purchases using the virtual currency with a tap of their NFC device at any contactless terminal. Shake Alpha will also enable users to make online payments using a web app that displays their virtual card. The company is now inviting users to sign up for early access to the service.

    ShopKeep reports on mobile payment adoption

    April 12th, 2016

    Nearly nine in ten US merchants using ShopKeep technology (87%) have seen little-to-no adoption of mobile payments at their business in the past six months, research released by the POS system provider reveals. “Despite these findings, 59% of small businesses still predict that, in the next two years, 50% of consumers will be using mobile payments such as Apple Pay as their primary payment method,” ShopKeep adds.

    Orix to push Alipay in Japan

    April 12th, 2016

    Financial services provider Orix is to promote Ant Financial’s Alipay mobile payment platform in Japan and encourage more stores to accept the service. “The Japanese group will offer leasing of the terminals, which can cost up to 300,000 yen (US$2,685) or so to buy, to reduce adopters’ upfront expenses,” Nikkei reports. “Orix will market Alipay mainly to retailers popular with Chinese tourists.” The report comes as Alipay announced its expansion into Europe last week.

    Apple Pay adds 32 banks in the US

    April 12th, 2016

    Apple has added a further 32 banks and credit unions to its list of Apple Pay supporting financial institutions in the US, 9to5mac reports. The update follows an announcement from Barclays that it now supports Apple Pay in the UK.

    Nationwide explores behavioural biometrics

    April 12th, 2016

    Customers of Nationwide Building Society in the UK may soon be able to access their mobile banking accounts using behavioural biometrics that recognise how they interact with their smartphone, from the way they hold their device to how they type. “The prototype, developed in Nationwide’s Innovation Lab in partnership with BehavioSec and Unisys, explores how a customer’s natural interaction with their smartphone or tablet could provide an additional level of security in the future,” the company says.

    61% of US Apple Watch owners use Apple Pay

    April 12th, 2016

    Nearly two thirds of Americans with an Apple Watch (61%) use the device to make payments with Apple Pay, research from Fluent reveals. “With 61% saying they have made a purchase using their watches, there is room for improvement but that’s a healthy number of users right out of the gate and should only grow with future releases,” the firm’s Jordan Cohen writes in a blog post.

    Tourists in Japan to get fingerprint payments by 2020

    April 12th, 2016

    The Government of Japan is to pilot a system that would let tourists verify their identity and make in-store payments using their fingerprint. “The experiment will have inbound tourists register their fingerprints and other data, such as credit card information, at airports and elsewhere,” The Japan News reports. “Tourists would then be able to conduct tax exemption procedures and make purchases after verifying their identities by placing two fingers on special devices installed at stores.” The system is expected to roll out across the country by 2020.

    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.”

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