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NFC smartphone sales up 55% year on year in 2015

June 30th, 2015

Global NFC-enabled smartphone sales will grow more than 55% year over year in 2015, research from Strategy Analytics has found. “The growth rate is far above overall smartphone growth rate of 16% in 2015,” it says. “Asia Pacific remains the largest market for NFC smartphones, while North America has the highest NFC smartphone penetration until 2020.”

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.”

One in five Australians make in-store mobile payments

June 26th, 2015

Three in ten Australians plan to use their smartphone for all their digital money and financial needs by 2017 and one in five (17%) are already using their smartphones to make in-store payments, research from lender Fair Go Finance reveals. “50% would like to use biometrics instead of PIN codes by 2020,” the survey finds. “One in ten said they would use Facebook to transfer money to friends and family.”

$4bn mobile money transfer revenue by 2018

June 24th, 2015

Revenue from mobile money transfer services will hit US$2bn this year, doubling to $4bn by 2018, Juniper Research says, citing Africa as the market leader. “Several African mobile operators are now generating more than 10% of their revenues from mobile money,” it adds. “Safaricom’s M-Pesa service [in Kenya] recorded mobile money revenues of more than $330m in the latest financial year.”

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.”

One in four US consumers would share DNA with their bank

June 22nd, 2015

One in four US consumers would consider sharing their DNA with their financial institution if it meant it would make authentication easier and their personal information more secure, research from Telstra reveals. “Two thirds of US consumers think that using biometrics — such as voice, fingerprint, iris and facial recognition — would be more secure and help reduce the risks of fraud,” says the Australian telecoms operator’s Rocky Scopelliti.

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

Mobile payments mainstream by 2020

June 11th, 2015

Nearly a third (31%) of global payment and banking experts believe mobile payments will go mainstream in their region in the next five years, and 41% believe mass NFC and contactless adoption will occur within the same period, research from retail banking provider Compass Plus has found. However, the findings come despite previous results indicating the technologies should already be mainstream.

Brain waves could replace passwords

June 8th, 2015

Brain waves could be used to verify a person’s identity in the future, researchers from Binghamton University have demonstrated in a study published in academic journal Neurocomputing. Using a sample of 45 volunteers and a list of 75 acronyms, the ‘Brainprint’ study found that participants’ brains reacted differently to each acronym, enough that a computer system identified each person with 94% accuracy.

Less than a quarter of top US retailers accept Apple Pay

June 5th, 2015

Fewer than a quarter of the National Retail Federation’s list of the top 100 US retailers are now accepting Apple Pay, with nearly two-thirds saying they will not be accepting it this year and only four saying they have plans to add support in the next 12 months, research conducted by Reuters has found. “Some merchants said they were holding out because they plan to participate in a new mobile payment system to be launched by a coalition of retailers later this year,” reports the news agency.

One in five Europeans expect to make daily mobile payments by 2020

June 4th, 2015

One in five Europeans expects to use their mobile phone to make payments on a daily basis by 2020, growing from the one in ten who do so already today, research from Visa Europe has… More

Kantar: 13% of US iPhone 6 owners have used Apple Pay

June 4th, 2015

Some 13% of iPhone 6 and 6 Plus owners in the US have used Apple Pay and 11% are planning to do so, a survey conducted by Kantar Worldpanel has revealed. Only 2% choose not… More

Execs look to disrupt payments value chain

June 4th, 2015

Nearly half (44%) of payment executives globally cite reducing the number of fee collectors in the payments value chain as their “top opportunity”, ranking higher than targeted offers (41%) and mobile (39%), ACI Worldwide and Ovum reveal. Some 59% are evaluating direct connections with banks to cut reliance on card networks and 85% of banks want closer ties with organisations to reduce costs.

Four in ten UK smartphone owners willing to make NFC mobile payments

June 4th, 2015

Almost two fifths (38%) of UK smartphone owners are willing to make NFC mobile payments, research carried out by YouGov on behalf of business process management company Firstsource Solutions has revealed. More than half (55%) of… 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.

UK contactless transactions up nearly 50% in six months

May 29th, 2015

The number of UK contactless transactions has risen by nearly 50% in the last six months from 16.33m in November 2014 to 24.4m in April this year, representing an increase of 964% in the last two… More

One in four UK consumers influenced by in-store payment methods

May 22nd, 2015

More than one in four UK consumers are more likely to shop somewhere if it offers a greater range of — and more innovative — payment methods, a survey conducted for Sage Pay has revealed…. More

Nearly half of iPhone 6 owners successfully using Apple Pay

May 22nd, 2015

Nearly half (46%) of US iPhone 6 owners have now successfully used Apple Pay, up from 42% two months ago, and 63% of those are using the mobile payments service on a weekly basis, the… More

Visa Checkout reports 4m customers and 125,000 merchants

May 20th, 2015

More than four million customers have now signed up for Visa Checkout since its launch in July last year, and more than 125,000 merchants are now accepting the online checkout service along with 260 financial… More

US millennials lead the way for mobile payments

May 19th, 2015

Some 41% of US millennials aged between 18 and 34 are now using mobile payments, compared to 18% of 35- to 44-year-olds, 14% of 45- to 54-year-olds, 10% of 55- to 64-year-olds and 8% of those aged over 65, research from POS supplier Harbortouch has revealed. One in four of the 1,000 respondents surveyed also believes the restaurant industry is the most likely to widely adopt mobile payments in the near future.

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