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    Australian digital payments to reach nearly A$1.9bn by 2020

    May 4th, 2016

    Digital payments across Australia, including those made with a mobile device at the point of sale, will be worth A$1.897bn (US$ 1.42bn) by 2020, Frost & Sullivan predicts. “Mobile payments are expected to take off in 12-18 months,” says the firm’s Saranga Sudarshan. “Apple Pay and Android Pay will revolutionise this market. Smartphone prevalence facilitates a high adoption rate for a more convenient and secure form of paying, compared to physical cards or cash.”

    Contactless on the rise in the Netherlands

    May 4th, 2016

    Some 15m contactless cards were in circulation in the Netherlands in 2015, equivalent to 45.5% of all payment cards, according to research from Timetric. “ABN Amro Bank added contactless function to all its payment cards in December 2015,” the firm says. “Similarly, ING Bank and Rabobank are replacing their existing cards with contactless-enabled payment cards. Banks and telecom operators are also introducing contactless mobile payment solutions to their customers.”

    UK contactless transactions hit 60 per second

    May 4th, 2016

    More than 60 contactless transactions took place every second across the UK during the month of February, The UK Cards Association reveals. In total, there were 159.1m contactless transactions, with the average payment sitting at £8.28. “With more than 60 transactions taking place a second, it is clear contactless card payments are becoming ever more popular,” says the organisation’s head of policy Richard Koch.

    A quarter of Brits have made an in-store mobile payment

    April 27th, 2016

    Almost a quarter of UK adults (24%) have used their mobile phone to make an in-store mobile payment and 12% do so on a regular basis, the Prepaid International Forum (PIF) reports. 49% of 18… More

    More than half of payment cards shipped in 2015 were contactless

    April 27th, 2016

    Contactless technology was built into 56% of all smart cards shipped globally excluding the Americas in 2015, up from 42% in 2014, the Smart Payment Association reports. “53% of all cards shipped in Europe were contactless, while in the Asia Pacific region, an impressive 74% of cards featured contactless technologies,” says the association. Approximately 2.6bn chip payment cards were shipped around the world last year, with 570m shipped to the US — a two-fold increase on 2014 — and a 27% growth in shipments in China.

    Apple Pay gets 1m new users every week

    April 27th, 2016

    Apple Pay is now signing up 1m new users per week, Apple CEO Tim Cook revealed during the company’s second quarter earnings call. “Apple Pay is growing at a tremendous rate with more than five times the transaction volume of a year ago and 1m new users per week,” Cook told investors. “More expansion of Apple Pay is coming soon.” The mobile payment service is currently live in the US, UK, Canada, Australia, China and Singapore.

    NFC SIM shipment remains static in 2015 due to Softcard closure

    April 26th, 2016

    The global number of NFC SIM card shipments remained static during 2015 following the closure of the Softcard mobile wallet in the US last year, the SIMalliance has revealed, despite reporting significant NFC SIM growth across Asia and Europe. More

    Nearly one in four payments at US Starbucks made via mobile

    April 25th, 2016

    Mobile payments now account for 24% of all transactions across Starbucks’ US locations, the company’s president and COO Kevin Johnson has revealed, with an average of 8m transactions per month taking place through the coffee chain’s Mobile Order & Pay service. More

    42% of UK mobile users don’t trust NFC mobile payments

    April 25th, 2016

    More than four in ten mobile users in the UK (42%) feel that NFC mobile payments are not secure, research from Ofcom reveals. “Mobile users are more likely to say that this activity is not at all secure (24%) than say it is completely secure (10%) — around one in five are unsure,” the communications regulator says. The findings also show that 15% of the 1,841 respondents have used their phone to make a contactless payment.

    Mobile payments will overtake cards and cash by 2025, says UK retailer

    April 19th, 2016

    UK retailer The Co-Op has predicted that 65% of all transactions at its supermarkets and convenience stores will be made using mobile phones by 2025. The forecast follows research released by the company which shows that almost 11m contactless transactions now take place at its 2,800 locations every month. More

    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.

    Tencent reports major increase in mobile payment users

    March 23rd, 2016

    Chinese internet giant Tencent has reported that the number of monthly active users (MAU) of its mobile payments services has increased by seven times over the last year. Its QQ Wallet was used to exchange 6bn red envelopes during the Lunar New Year holidays and Weixin Pay was used to exchange 32bn red envelopes over the same period, up nine times on a year ago. “For Weixin and WeChat together, MAU reached 697 million at the end of 2015, representing YoY growth of 39%,” Tencent says.

    Nearly half of top marketers plan to invest in NFC in 2016

    March 15th, 2016

    Close to half (46%) of the top marketers surveyed for a new location-based marketing report say they plan to invest in NFC this year. 41% plan to invest in Bluetooth beacons, 63% in WiFi and 57% in GPS. More

    More than 100m people will make an NFC mobile payment in 2016

    March 10th, 2016

    More than 100m people around the world will use an NFC handset to make a purchase this year, according to a new report from Strategy Analytics, and the value of transactions conducted via NFC handsets will grow from US$30bn in 2016 to US$240bn in 2021. 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

    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).”

    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.

    GSMA reports on mobile money adoption

    March 2nd, 2016

    More than one billion transactions were processed through mobile money services globally in December 2015, the GSMA reveals, with registered accounts growing by nearly 100m — taking the total to 411m. “Mobile money is available in 85% of countries where most of the population lacks access to formal financial institutions,” the association says.

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