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Chip and PIN faces slow take-up in US, says Forrester

May 1st, 2015

EMV payments on plastic cards won’t achieve broad adoption in the US until 2020, Forrester Research predicts, due to the rise of “more secure” mobile and contactless payment alternatives. “Forrester expects that more secure, encrypted and tokenized transactions on digital wallets, mobile device-based NFC virtual cards and EMV contactless payments will prove strong competitors to plastic EMV chip and signature and chip and PIN payments in the US,” the company says.

Forecast: 100m Apple Pay-capable phones in US by 2020

April 24th, 2015

Some 100m Apple Pay-capable smartphones will be available in the US in 2020, up from 53m this year, according to Mercator Advisory Group. The company is also forecasting that the future of the mobile payment service… More

Apple Pay is top choice among US consumers as mobile payment security concerns fade

April 22nd, 2015

Apple Pay has become the top choice of services among US consumers planning on using mobile payments in the next 90 days, a survey conducted by 451 Research has found — and consumers increasingly think mobile payments are more secure than credit cards. More

Half of digital tickets will be bought on mobile by 2019

April 17th, 2015

More than one in two digital tickets will be bought using a mobile handset by 2019, Juniper Research has forecast. Global ticket purchases via mobile and desktop devices, including smartphones, tablets and PCs, will reach 32bn in the same period, up from an estimated 16.2bn this year. Findings also reveal that one in three airline boarding passes will be issued via mobile devices by the same year.

SIMalliance: NFC SIM shipments up 69% in 2014

April 14th, 2015

A total of 4.7bn SIMs were shipped in 2014 by members of the SIMalliance, an organisation that represents suppliers responsible for 86% of the global SIM market, including 132m NFC SIMs, up 69% on 2013 and taking the total number of NFC SIMs shipped by alliance members over the past four years to 256m. More

Europeans back banks for mobile payments

April 10th, 2015

Some 185m Europeans will use a mobile payment app this year, up 51% on 2014, a survey of 14,000 consumers for ING has revealed, and respondents say they are far more likely to use apps… More

Apple Pay users report merchant POS problems

March 31st, 2015

Two in three Apple Pay users have encountered a problem when attempting to pay with the mobile payment service in a store, a survey from Phoenix Marketing International reveals. Most issues related to terminals not… More

One in five US mobile phone users made a mobile payment in 2014

March 27th, 2015

22% of US mobile phone users made a mobile payment last year, up from 17% in 2013, research from the Federal Reserve Board reveals. The most common type of mobile payment was paying bills through an online system or mobile app, followed by online and in-app purchases, with in-store payments in third place, the Consumers and Mobile Financial Services 2015 (PDF) report found.

One in three boarding passes to go mobile

March 11th, 2015

More than 1.5bn airline boarding passes will be delivered via mobile by 2019, up from 745m this year, Juniper Research predicts. The figure will represent one in three of all passes issued.

US identity fraud drops, but breaches scare consumers

March 5th, 2015

The number of victims of identity fraud in the US decreased 3% to 12.7 million in 2014 and total fraud losses declined to US$16 billion — a decrease of 11% from 2013 — a study from Javelin Strategy & Research has found. However, a series of high-profile card data breaches had a great impact on consumer purchasing decisions, with 28% of fraud victims saying they avoided affected merchants after the fraud, say the authors of the 2015 Identity Fraud study.

Mobile money users grow 41% in 2014

March 2nd, 2015

Active mobile money accounts worldwide grew 41% to more than 100 million in 2014, a report from the GSMA’s Mobile Money for the Unbanked programme has found. State of the Industry 2014: Mobile Financial Services for the Unbanked also reports that mobile money services are now available in 61% of developing markets — 84 out of 139 — with 255 services running in 89 countries worldwide. “Mobile is a key enabling tool for financial inclusion and over the last year we’ve seen significant growth in mobile financial services,” says GSMA chief regulatory officer Tom Phillips.

Bank of England ponders own digital currency

February 27th, 2015

The Bank of England is consulting external experts on research designed to help set future policy which includes considering the effects of issuing its own Bitcoin-like digital currency. The One Bank Research Agenda discussion document, which aims to transform the way research is done at the bank, explains that the rise of digital currencies “has potentially profound implications for a financial system whose payments mechanism depends on bank deposits that need to be created through credit,” and goes on to ask what the impact on existing payment and settlement systems would be should it introduce its own digital currency in future.

Berg Insight reports on NFC POS terminal growth

February 24th, 2015

An estimated 9.5m NFC-ready point-of-sale (POS) terminals were shipped worldwide in 2014, research from Berg Insight has revealed, and the company forecasts that the global installed base of NFC-ready POS terminals will grow at a… More

White paper identifies clear consumer preference for NFC

February 23rd, 2015

NFC Technology: How Changing Consumer Preferences Create New Opportunities For Retailers, a 26-page white paper that presents the results of a Strategy Analytics and NFC Forum study into US consumer attitudes to NFC, QR codes and Bluetooth beacons in retail, is now available to download from the NFC World+ Knowledge Centre. “In five of six use cases identified, more than twice as many consumers preferred NFC to the leading alternative,” the survey found.

Six in ten US terminals to support EMV chip cards by year end

February 19th, 2015

About 59% of US point-of-sale (POS) terminals will be EMV-enabled by the end of this year, research by Aite Group has revealed, with NFC distribution projected to “ramp at the same rate as EMV distribution,”… More

NFC gets 75% approval rating from US consumers

February 13th, 2015

The speed, convenience and control of NFC have made it a clear winner with the American public in a study conducted by Strategy Analytics for the NFC Forum. “Once you get the technology into the… More

Contactless card payments treble in Britain in 2014

February 6th, 2015

Ten contactless transactions took place in the UK every second in 2014, The UK Cards Association has revealed, and total spending on contactless cards more than trebled to reach a record £2.32bn. In total, 319.2m… More

HCE specialist SimplyTapp raises an additional US$2.5m

February 5th, 2015

PARTNER NEWS: Fast growing mobile payments platform provider Mozido has made a US$2.5m investment in SimplyTapp, bringing the total amount raised in the host card emulation (HCE) specialist’s Series B financing round to US$10.1m. The new… More

Mobile biometrics market to be worth US$33.3bn a year

February 4th, 2015

By 2020, smart mobile devices will include embedded biometric sensors as standard, according to research conducted by Acuity Market Intelligence, creating a US$33.3bn a year market for biometric products and services. Authentication fees from 825bn… More

ATM operators report on EMV readiness

February 3rd, 2015

More than six in ten (61%) US ATM operators expect “the vast majority” of their network will be capable of handling EMV transactions by the end of 2016, the ATM Industry Association has revealed. “As of the end of 2014, 65% of respondents report having at least one ATM capable of handling EMV transactions,” the survey found.

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