The highest percentage of contactless payments across the UK are taking place in bakeries (62.5%) followed by pubs and bars (48.2%), caterers (47.8%), takeaway restaurants (45.5%), news dealers and newsstands (44.9%) and restaurants with 42.7%, research released by merchant services provider Paymentsense reveals. More
Research
Disconnected experiences put customer loyalty at risk
Disconnected experiences put customer loyalty at risk — MuleSoft — “Nearly half of UK consumers (48 per cent) would be happy for banks to share their banking transaction history with a trusted third-party if it gave them a more personalised banking experience… Nearly a third (30 per cent) of UK respondents would consider using Amazon, Google, Facebook or Apple for banking services if it was offered, rather than using their standard bank.”
Contactless retail payments to exceed $1 trillion in transaction value by 2019
Contactless retail payments to exceed $1 trillion in transaction value by 2019 — Juniper Research — “The global value of contactless transactions made via payment cards, mobile and wearables will reach $1.3 trillion by 2019, more than doubling from an estimated $590 billion in 2017 … contactless card levels will continue to dominate transaction values, accounting for 80% of total contactless transactions in 2019.”
One in three Americans now uses mobile P2P payments
More than a third of US consumers (36%) are now using person-to-person (P2P) mobile payment services, with millennials leading the way at nearly double that rate (62%), research released by Bank of America reveals... More
Apple Pay sees double-digit growth, ties with PayPal
Apple Pay sees double-digit growth, ties with PayPal — Branding Brand — “New shopping data from Branding Brand shows in-app purchases with Apple Pay increased 17% from March 2017 to April 2017… When asked to rank their favorite in-app payment systems, PayPal and Apple Pay tied for first place. Overall, 70% of Apple Pay users want more retailers to offer the service.”
European mobile payments will almost triple by 2021
European mobile payments will almost triple by 2021 — Forrester — “Forrester estimates that mobile payment transactions in Western Europe will grow from €52 billion in 2016 to €148 billion by 2021.”
Researchers develop system that lets smartphones interact with objects using electromagnetic sensing
Researchers from Carnegie Mellon University’s Future Interfaces Group have developed a working concept that enables smartphones to interact with smart home appliances using electromagnetic emission sensing technology. More
UK consumers want at least three security steps to secure bank accounts
Six in ten UK consumers (60%) think that having fewer than three security steps including passwords, card readers or letters from a memorable word is “insufficient” to secure their bank account, research released by Equifax and YouGov reveals... More
Thailand to get standardised QR code payments in move towards cashless society
Mastercard, Visa and UnionPay International have introduced a standardised QR code platform for payments in Thailand that will let consumers make a transaction with their mobile device at any supporting location. The service has been designed to support the Bank of Thailand’s cashless agenda which aims to “drive innovation, interoperability and security in payments” across the country. More
Kiwis warm to mobile, wearable and biometric payments
Nearly six in ten New Zealanders (59%) think mobile payments will be the next major payments technology to take off, followed by payments using wearables like smartwatches (47%) and biometrics such as facial recognition and fingerprints (42%), research released by Mastercard reveals. More
Mobile biometric payment volumes to triple in 2017 to nearly 2bn
Mobile biometric payment volumes to triple in 2017 to nearly 2bn — Juniper Research — “The size of the opportunity has been boosted by the greater availability of fingerprint sensors — around 60% of smartphone models are expected to ship with such sensors this year, with many Chinese vendors incorporating them into mid-range models.”
Contactless proving popular with UK over 50s
Almost 12m UK consumers aged over 50 are actively using contactless payments today, with one in five doing so up to three times a week, research released by Saga Money reveals... More
UK consumers show concerns over new payment methods
Almost four in five UK consumers (77%) have concerns about using new payment methods, research released by law firm Paul Hastings reveals, with risk of fraud cited as the main reason by 59%, followed by data security incidents (49%) and risk of theft (45%)... More
Customer satisfaction high for banks offering mobile payments
Customer satisfaction, overall brand image and retention metrics for banks are higher among customers who have a mobile payment service linked to their bank account, findings from the J.D... More
Goode reports on growth of biometric authentication
Revenues for mobile and wearable biometric authentication will exceed US$6.2bn by 2022, Goode Intelligence predicts... More
3.4bn phones will support Apple Pay, Android Pay and Samsung Pay by year end
Some 3.4bn smartphones will be compatible with Apple Pay, Samsung Pay and Android Pay by the end of 2017 — with the number expected to increase to 5.3bn by 2021, research released by IHS Markit reveals... More
bPay contactless wearables enable automatic donations to UK charities
A new range of wearable devices equipped with Barclaycard’s bPay contactless technology will enable UK consumers to automatically donate the small change from any contactless payment they make using the device to charities of their choice. More
WeChat Pay and offline mobile payments see “incredibly high” uptake in China
Nine in ten Chinese mobile internet users (92%) choose mobile payment apps such as WeChat Pay as their primary offline payment method today, research released by Tencent Online Media Group’s newly launched research project China Tech Insights reveals, while “smartphone built-in payment tools” such as Apple Pay are currently used by approximately 12%. More
Kiwi millennials want biometrics for payments
Some 62% of New Zealand’s millennials would like to use a fingerprint or retina scan to make payments, viewing biometrics as “secure and convenient and having the cool factor”, research released by Visa reveals... More
More than 150m people to use Apple Pay, Samsung Pay and Android Pay by end of 2017
The number of consumers using OEM Pays — mobile payment services delivered by handset manufacturers — such as Apple Pay, Samsung Pay and Android Pay will exceed 100m for the first time during the first half of 2017 and is expected to surpass 150m by the end of the year, Juniper Research reveals, while host card emulation (HCE) adoption is set to rise five-fold over the next four years. More