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Mobile wallet

News about Mobile wallet.

US$2.7tn mobile wallet market by 2020

June 30th, 2015

The global market for mobile wallets will reach US$2.7tn by 2020, “driven by the proliferation of smartphones, tablets, mobile internet, strong governmental support for cashless transactions and the convenience offered by mobile payments,” Global Industry Analysts says. “Asia Pacific represents the largest market, with a CAGR of 33% over the analysis period,” it adds. “The retail sector represents the largest end-use for mobile wallets.”

Cale parking card readers to accept Apple Pay

June 30th, 2015

US parking payment systems provider Cale will offer contactless card readers that accept Apple Pay as well as other NFC mobile wallets in July. “Cale will offer the readers as a field upgrade option to its Cale WebTerminal (CWT) pay stations and as an option for new terminals manufactured after September 2015,” the company says. Cale has 15,000 terminals installed in more than 200 US cities.

Evercoss to pre-install mobile wallet on handsets

June 25th, 2015

Indonesia’s largest smartphone and tablet manufacturer is to pre-install a mobile wallet on up to three million of its mobile devices annually, allowing users to make QR code-based in-store payments, online payments and P2P funds… More

CUA credit union reports rising interest in redi2PAY HCE mobile payments service

June 24th, 2015

The number of customers using CUA’s redi2PAY HCE mobile payments service more than 35 times per month was about three times higher in March 2015 than it was six months earlier, and the number of… More

India offers tax break for electronic payments?

June 24th, 2015

Merchants in India accepting electronic payments could be offered a tax rebate, a government proposal suggests. Fees for cash handling could increase, meanwhile, as part of an effort to encourage electronic payments, defined as those done “through means of cards, mobile wallets, mobile apps, new banking, Electronic Clearing Service (ECS), National Electronic Fund Transfer (NEFT), Immediate Payment Service (IMPS) or other similar means”.

Canadian carriers sign up for independent Suretap platform

June 23rd, 2015

Canadian carrier Rogers has spun off its Suretap NFC mobile wallet service as a separate company, with the brand now operating independently and open to other carriers. Mobile network operators Bell, Telus, Koodo and Virgin… More

Almost one in ten have made in-store mobile wallet payments

June 22nd, 2015

Some 8% of global mobile users have made an in-store mobile wallet payment either using NFC or via an app in the last six months, research from trade body Mobile Ecosystem Forum (MEF) and Wirecard has revealed. “Another 7% paid using a merchant’s plug and pay or mpos device and 5% said they paid via a mobile loyalty card scheme,” the research finds. 36% cite lack of trust as the main reason for not using a mobile wallet, 18% don’t know what a mobile wallet is and 15% “don’t see the point.”

Almost one in six US consumers are using mobile wallets

June 17th, 2015

Almost one in six US consumers (15%) have used a mobile wallet in the past six months, up from 9% in the same period in 2013, and an additional 22% are likely to adopt mobile… More

UAE banks approve mobile wallet project

June 16th, 2015

The UAE Banks Federation, a standards body representing 50 Emirates banks, has cleared its mobile wallet project for launch and is now awaiting final approval from the nation’s central bank following a pre-implementation phase completed in December. The UBF mWallet project represents the financial component of the UAE’s Smart Government initiative and will enable banks to offer P2P, NFC mobile payments and loyalty programs to customers.

Sequent closes funding round

June 15th, 2015

Secure NFC specialist Sequent Software has closed a funding round for an undisclosed sum that will be used to support its expansion into global markets. “Sequent’s products support the next wave of development in the wallet space, managing the complexity of mobile payments so that thousands of apps can use simple APIs to make payments at any store,” says the company’s David Haines.

Ericsson and Verifone bring NFC mobile payments to developing world

June 12th, 2015

Swedish telecoms giant Ericsson has partnered with Verifone Mobile Money to add support for NFC and contactless payments to its mobile commerce platform, enabling its carrier customers in emerging markets to add in-store mobile payments… More

The Bancorp to offer HCE prepaid cards to European issuers

June 10th, 2015

Financial products and services provider The Bancorp will offer open loop mobile prepaid cards that make use of host card emulation (HCE) to its European issuers in the fourth quarter of this year, through a… More

Vodafone Turkey adds eye verification to mobile wallet app

June 5th, 2015

Vodafone Turkey is adding support for eye verification to its mobile wallet to enable users to unlock the app using biometric provider EyeVerify’s Eyeprint ID technology. The addition of biometric security to the Vodafone Cep… More

37% of vending payments cashless

June 4th, 2015

Cashless payments now account for 37% of all transactions made on vending machines equipped with USA Technologies’ ePort Cashless Payment System, data from the company’s 2015 Cashless Knowledge Base Study has found. There was also a 32% increase in average ticket values when consumers make cashless purchases – including those using mobile wallets – compared to those made with cash.

RBC unveils Android M mobile wallet app

June 2nd, 2015

Royal Bank of Canada (RBC) has developed an app for the Android M Developer Preview that will be used as part of the bank’s RBC Wallet service to let users authenticate themselves using their fingerprint for… More

Ingenico backing for Android Pay

June 1st, 2015

Point-of-sale terminal maker Ingenico has announced its smart terminals will be able to process Android Pay transactions as well as supporting the service’s loyalty and offers functionality. “Virtually all Ingenico terminals implemented in the US by large and medium-tier merchants are NFC-capable, and many of those merchants have already enabled this capability to accept other types of mobile wallet payments,” Ingenico says.

BBVA adds card controls to mobile wallet

June 1st, 2015

Spanish bank BBVA has updated its BBVA Wallet app, allowing customers to use their mobile phone to limit plastic cards for ecommerce or ATM withdrawals, as well as turning cards ‘on’ and ‘off’ at any time. “The new version turns our customers’ smartphones into a remote control to do whatever they want with their cards,” says BBVA’s Mehmet Sezgin.

Google working on “brand new” Wallet service for Android and iOS

May 29th, 2015

Google has confirmed it is developing a “brand new” Google Wallet app for Android and iOS that will allow anyone with a US debit card to send and receive money for free “within minutes”, even if… More

PayPal adds Touch ID to iOS app

May 27th, 2015

PayPal is letting its iOS mobile app users log in and access “virtually any part” of their PayPal wallet using Apple’s Touch ID. “When you log in to the latest PayPal app on a Touch ID-enabled iOS device, you’ll be asked if you want to enable Touch ID,” PayPal explains. “After a quick setup, simply use your fingerprint to log in and view your account, send money to friends, or access your digital wallet.”

NXP ‘focused on mobile wallet’

May 22nd, 2015

PARTNER NEWS: “What we’re focused on is the mobile wallet,” NXP CEO Rick Clemmer has told CNBC in an interview in which he discusses the company’s smartphone products, growth in China and its partnership with Qualcomm. “The mobile wallet is really where we bring a unique proposition; we want to be able to supply that across the world with all of the leading smartphone companies to really make life easier and secure.”

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