News about Cash.
November 21st, 2016
UK bank Barclays has begun piloting a contactless mobile cash service that will enable customers to withdraw cash with a tap of their NFC mobile phones or contactless debit card. The service is scheduled to…
November 17th, 2016
Six retail branches of Citi bank in Australia are to stop dealing with cash because of falling demand from customers who prefer to manage their money digitally, the Sydney Morning Herald reports. Citi’s head of retail banking Janine Copelin said less than 4% of the bank’s customers had made cash transactions through a branch in the last year. The move comes as Australian Reserve Bank data shows cash was used in 78% of payments worth less than A$10 (US$7.46) in 2013, down from 95% in 2007.
November 17th, 2016
Indian mobile wallet provider MobiKwik says it is ready to serve 300m users, up from its current 35m customer base, in the wake of the government’s withdrawal of Rs 500 (US$7) and Rs 1,000 ($14) notes from circulation. A spokesman says it has registered 18 times growth in transactions since the announcement of demonetisation earlier this month and is gearing up to accept 100m daily transactions. Mobile financial solutions provider Mahindra Comviva told NFC World demonetisation would make mobile payments the “de-facto payment mode” in India.
November 16th, 2016
Customers of India’s RBL Bank can now make QR code-based mobile payments using Mastercard’s Masterpass QR mobile payments solution, which has been integrated as a payment option within the bank’s OnGo mobile wallet. “Shoppers can…
November 15th, 2016
Mobile payment transaction volume in India is expected to grow more than 90% each year over the next five years, with digital payments becoming the “de-facto payment mode” in the country, in the wake of…
October 19th, 2016
Nearly six in 10 North American consumers (56%) are now aware of mobile payment services — a 4% increase from this time last year, research from Accenture has revealed. However, the regular use of mobile…
July 26th, 2016
Mobile network operator Telefónica Deutschland has launched a mobile-only bank in partnership with Fidor Bank in Germany. The service will allow peer-to-peer (P2P) transactions to be made using mobile phone numbers and will come with a Mastercard debit card for in-store and ATM transactions.
July 20th, 2016
More than half of Irish debit and credit card owners (54%) are using contactless payments when purchasing goods and services, research released by payment technology provider BOI Payment Acceptance (BOIPA) reveals, with the average contactless payment standing at €11.33.
July 18th, 2016
US consumers will soon be able to withdraw cash from 70,000 ATMs belonging to Payment Alliance International (PAI) using their mobile phones through banking and payment technologies provider FIS’ Cardless Cash ATM functionality. “The partnership connects FIS Cardless Cash with PAI and brings mobile access to ATMs located at many of the nation’s largest retailers, gas stations, convenience stores and more,” FIS says. Cardless Cash was launched in January 2015 and had recorded hundreds of thousands of transactions by February 2016.
July 11th, 2016
Apple Pay captures the greatest proportion of eligible users in the US with 33%, followed by Samsung Pay with 23%, research released by Auriemma Consulting Group (ACG) reveals. However, Samsung Pay users report higher satisfaction levels and fewer issues at the point of sale compared to Apple Pay users, with near equal proportions recommending both mobile payment services.
July 6th, 2016
A 29-page white paper that explores the payment industry of Bangladesh and includes a detailed examination of its current systems, the evolution of alternative payment methods and the uptake of NFC, tokenization and EMV is now available to download from the NFC World+ Knowledge Centre.
June 20th, 2016
Apple Pay and Samsung Pay can now be used to make withdrawals and transfers at Bank of America ATMs, according to a user on Reddit. “This does not work for deposits, which is weird since you would think withdrawals pose a greater risk for the bank than deposits,” the user writes. Bank of America added support for Android Pay at its ATMs in May when it also announced that the ATMs are capable of working with any NFC mobile wallet.
June 15th, 2016
Commuters across Bengaluru in India will soon be able to pay for travel on buses operated by Bengaluru Metropolitan Transport Corporation (BMTC) with a tap of an open loop contactless card provided by Axis Bank….
June 14th, 2016
Android Pay tops the list of the most popular mobile payment services used by US consumers with 19% saying they have made an in-store payment via the service, research from Walker Sands reveals.
June 7th, 2016
The number of Chinese consumers making in-store mobile payments more than doubled last year and almost half of all smartphone users in the country will be making proximity mobile payments by 2020, according to research…
June 7th, 2016
Customers of Erste Bank und Sparkassen in Austria will now be able to make NFC payments using a wristband, sticker or mobile app launched by the bank. All three payment methods are available countrywide and can also be used to make withdrawals at the first NFC-enabled Erste Bank ATM in Vienna.
May 31st, 2016
More than a quarter of US consumers (27%) with an eligible smartphone have used Apple Pay, Android Pay or Samsung Pay, according to research released by Auriemma Consulting Group (ACG). 39% say they would use mobile…
May 30th, 2016
Some 3bn contactless transactions were made across Europe on Visa cards and payment-enabled devices in the year to 30 April 2016, growing from 143m transactions a month in April 2015 to 360m in April 2016. The…
May 26th, 2016
LG is expected to launch its LG Pay mobile payment service in September, according to ETNews. “LG Pay is going to be released in September as a form of ‘all-in-one card’ that will become the world’s first mobile payment with IC (integrated circuit) chip,” the publication reports. The company announced it had developed an electronic LG Pay White Card that will let users register multiple credit cards for in-store payments and ATM withdrawals in January 2016 and confirmed its plans to launch the service in November 2015.
May 25th, 2016
Customers of Wells Fargo Bank across the US will soon be able to make NFC-based mobile payments and ATM withdrawals with a tap of their phone using the Wells Fargo Wallet, a mobile payment service…