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    Mobile wallet

    News about Mobile wallet.

    Suretap goes live with loyalty

    March 9th, 2016

    Users of the Suretap NFC mobile wallet can now earn and redeem loyalty points as a result of a partnership between the Canadian mobile wallet provider and the Points loyalty network announced in November 2015. “More than 20 popular loyalty programs, including seven of the top 10 programs in Canada, are now available with Suretap,” the company says. “Suretap has almost 1m downloads.” Suretap launched as an independent company in June 2015.

    ExxonMobil rolls out Apple Pay at the pump

    March 9th, 2016

    Motorists across the US can now pay for their fuel at the pump at more than 6,000 ExxonMobil gas stations using Apple Pay and the fuel retailer’s Speedpass+ mobile payment app. The oil and gas company plans to expand the app’s availability to more than 8,000 locations by mid-year. More

    Samsung Pay records net loss of US$16.8m in 2015

    March 8th, 2016

    Samsung Pay has recorded a net loss of US$16.8m since the mobile payment service was unveiled in March 2015, despite attracting approximately five million users in South Korea and the US in its first six months…. More

    Amex patent turns reward points into virtual currency

    March 7th, 2016

    American Express is exploring a system that would let its customers use reward points for purchases in third-party digital wallets, according to a newly published patent application. “This system, method and computer program may allow certain transaction account holders to directly pay with their loyalty points in any third-party digital wallet,” the patent says. “Utilizing the system, transaction account holders may earn one or more points for virtually every dollar charged on eligible, enrolled transaction accounts and then redeem their points for a wide array of rewards, including merchandise or travel.”

    Samsung Pay to enable deposits at South Korean ATMs

    March 7th, 2016

    Samsung Pay users in South Korea will soon be able to both deposit and withdraw money from the ATMs of Woori Bank, Shinhan Bank, KB Kookmin Bank, Industrial Bank of Korea and NH Nonghyup Bank. “Samsung Pay will support depositing money into ATMs in South Korea when sales for the Galaxy S7 and S7 Edge begin March 11,” ZDNet reports. “The South Korean tech giant declined to comment on the global availability of the new features.” Woori Bank added Samsung Pay to its ATMs in September 2015.

    Chinese consumers register 3m cards to Apple Pay in 48 hours

    March 7th, 2016

    Chinese shoppers activated 3m bank cards with Apple Pay within two days of the mobile payment service’s launch, according to China Merchants Bank. “China Merchants Bank says its customers connected 1m bank cards with Apple Pay in the first two days of the launch, representing 35% of cards connected,” Internet Retailer reports. “China UnionPay reported that Apple Pay users spent 101 yuan (US$15.5) on average on the first day of the service and about 47% of purchases were above 10 yuan ($1.5).”

    Apple Pay adds 27 US banks

    March 7th, 2016

    Apple has added a further 27 banks and credit unions to its list of Apple Pay supporting financial institutions in the US. “The addition of Mainland China started with another dozen participating banks and another 27 banks have joined the 1,000+ partners in the US,” 9to5mac reports. Apple Pay launched in China on February 18.

    Visa to end support for alternate PANs in cloud-based payments

    March 4th, 2016

    Visa has updated its cloud-based payments specifications to include a requirement for issuers to migrate from alternate PANs to tokenization, NFC World has learned. Alternate PANs are used by most of the issuers that have… More

    Apple Pay tops US merchant mobile wallet requests

    March 4th, 2016

    Nearly half of US point of sale merchants (44%) are using or have requested information about mobile wallet solutions and 67% of those wanted Apple Pay, an investor note by Piper Jaffray analyst Gene Munster reported by Barron’s reveals. “That figure dwarfs the 18% that requested Android Pay/Google Wallet, 8% for PayPal and 7% for Samsung Pay,” the report adds.

    Frost & Sullivan predicts surge in mobile wallet adoption

    March 4th, 2016

    The number of active mobile wallet users will rise from 409m in 2015 to 1,722m in 2023, research from Frost & Sullivan predicts, while mobile payment transaction values will increase from €289.02bn (US$315.39bn) in 2014… More

    Analyst compares global take-up of key mobile payment services

    March 4th, 2016

    Apple Pay has attracted 12m monthly users globally since its launch in October 2014, while Google’s Android Pay has attracted 5m monthly users since becoming available in September 2015 and Samsung Pay has also attracted 5m monthly users, according to research by Crone Consulting which has been reported by Bloomberg. Those numbers equate to some 6% of consumers able to make use of Apple Pay, the company estimates, compared to 4% for Samsung Pay and 1% for Android Pay.

    Google reports on US Android Pay adoption

    March 3rd, 2016

    Android Pay has averaged 1.5m new registrations each month in the US since the mobile payment service’s launch in September 2015, Google has revealed. “There are now over 2m locations that accept tap and pay — we’re busy working to bring the convenience of Android Pay to more countries and a growing list of stores and apps,” the company says.

    Wells Fargo adds support for Samsung Pay

    March 3rd, 2016

    Samsung Pay now includes support for Wells Fargo credit and debit cards, resulting in the mobile payment service supporting cards from 70 banks and credit unions covering more than 70% of the US credit and debit card market. Samsung Pay announced last week that approximately 5m registered users in the US and South Korea have used the service to make purchases valued at more than US$500m in the first six months since its launch.

    58% of millennials prefer friends to pay cash

    March 3rd, 2016

    Nearly six in ten US millennials (58%) say cash is their preferred way of paying and being paid by friends, followed by P2P payment apps (26%), cheque (8%) and electronic bank transfer (8%), GOBankingRates reveals. Of the 26% who chose P2P payment apps, 11% prefer PayPal, followed by Venmo (6%), Google Wallet (5%) and Square Cash (4%).

    MasterCard to support Apple Pay in Canada?

    March 1st, 2016

    MasterCard could begin supporting Apple Pay in Canada this year, according to a MacRumors report. “MasterCard is also looking to support Apple Pay in Brazil, Hong Kong, Japan and Singapore in 2016,” the publication says. “The information is based on an unverified document, however, so the plans cannot be proven beyond a reasonable doubt until other evidence surfaces.” Apple Pay launched in Canada in November 2015 with support from American Express alone.

    Visa simplifies Checkout sign-ups

    February 29th, 2016

    Visa Checkout users will soon be able to scan an image of their credit or debit card with their mobile device to sign up to the service, rather than having to enter their information manually. The new update, expected to be made available in April, will be automatically applied to the platform so merchants “don’t have to make any adjustments to their existing online checkout processes or payment systems,” says Visa.

    Android Pay to make UK debut in March?

    February 29th, 2016

    Android Pay will launch in the UK in March, according to The Telegraph. “Google will announce that Android Pay will be available in Britain from the end of next month,” the publication reports. Apple Pay has been live in the UK since July 2015 while Samsung Pay is expected to make its UK debut later this year.

    Apple Pay to launch in France this year?

    February 29th, 2016

    A “small handful” of major French banks are now poised to sign deals to bring Apple Pay to France “by the end of the year”, Les Echos reports, following months of negotiations over the share of transaction fees Apple should receive from card issuers. The recent deal between Apple and China UnionPay “is auspicious because it shows that Apple may make concessions,” one observer told the French newspaper.

    India’s Freecharge wallet signs another mPOS network

    February 25th, 2016

    Indian closed-loop mobile wallet provider FreeCharge has partnered with mobile point of sale provider Ezetap to let its users make in-store mobile payments at “thousands of Ezetap service points consisting of small and mid-sized retailers across India”. The announcement follows FreeCharge’s acceptance across the ePaisa network earlier this month and its roll out to 216 McDonald’s restaurants across India.

    Trust in Apple as a mobile wallet brand increases in the UK

    February 25th, 2016

    Trust in Apple as a mobile wallet provider has increased to 25% among UK consumers, nearing the 27% trust shown for MasterCard, market researcher Marketing Sciences reveals. “Apple has improved from a figure of 18% back in summer 2014 to be trusted by fully 25% today,” the company’s Richard Snoxell writes in a blog post. PayPal has the highest trust rating with 40%, followed by banks (36%) and Visa (33%). Trust in Google stands at 17%.

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