The global number of NFC SIM card shipments decreased in 2016 due in part to a “lower than anticipated” consumer uptake of SIM-based mobile payments and the impact of the closure of the Softcard mobile wallet in the US, the SIMalliance has revealed, despite reporting growth in NFC SIM shipments in key countries across Europe and the CIS regions, highlighting the demand in specific markets. More
Research
Apple Pay in-store adoption is “growing nicely”
Apple Pay adoption at the point of sale is “growing nicely” and is “in-line with growth among other digital payment players” such as Google and Samsung, long-time Apple analyst Gene Munster reveals... More
Boston Fed calls for clearer value proposition to encourage mobile payments
The value proposition for using mobile payments must be clearly stated to customers in order to change their behaviour from using plastic cards to mobile phones, says the Federal Reserve Bank of Boston following the completion of a research project that tested four mobile wallet models including NFC and QR codes... More
UK consumers want more biometric security options for online banking
More than half of UK consumers (56%) would prefer to use a biometric security method over traditional options like passwords to log into their financial accounts online, research released by Equifax reveals. 33% would prefer to use fingerprint recognition, 31% would like to use iris scanners, 7% facial recognition and 3% voice recognition. More
Study reveals US attitudes to authentication methods
Nearly half of US millennials (48%) are willing to switch from passwords to another identification method to access their bank accounts, research released by Aite Group shows. This compares to 40% of generation X, 29% of baby boomers and 16% of seniors. More
Chinese millennials rush to pay by mobile in stores
More than eight in ten Chinese millennials (85.6%) use in-store mobile payments at least once a week compared to 44.7% of US millennials, research released by branding agency Labbrand reveals... More
Australian banks brand non-NFC alternatives to Apple Pay ‘unrealistic’
Relying on Android or alternatives to NFC for successful mobile payment services in a country with one of the world’s largest iPhone market shares and high contactless card use is “unrealistic”, the group of Australian banks seeking access to the iPhone’s NFC functionality say in their latest submission to the Australian Competition and Consumer Commission (ACCC)... More
Security fears hit confidence in mobile payments
More than two thirds of global consumers (70%) fear hackers could steal their personal information when they use a mobile wallet, and 67% worry their money could be stolen, a report from Oxford Economics and Charney Research says... More
Boston Fed calls for more education to boost mobile payments
The Federal Reserve Bank of Boston says awareness of mobile payments “continues to grow” but “more education for consumers and employees” is needed to achieve mass adoption of mobile and digital wallets... More
Offers increase US mobile payment transaction frequency in stores by 50%
Transaction-based incentives are driving the use of mobile payments both in-store and in-app across the US, research from Auriemma Consulting Group (ACG) shows, with those who received an incentive to use mobile payments in-store over a one-week period doing so 4.6 times compared to 3.1 times for those not offered an incentive... More
One in five US smartphone owners use mobile payments in stores
Nearly 20% of US smartphone owners have used a mobile payment app at a retail location, research released by Parks Associates shows... More
Contactless payments tripled in the UK last year
British consumers made contactless transactions to the value of £25bn (US$30.6bn) last year, up from £7.75bn (US$9.48bn) in 2015, The UK Cards Association reports... More
Mastercard analyzes social media payments buzz
Digital wallets were the new way to pay most discussed by consumers on social media in 2016, the 2017 edition of the Mastercard Digital Payments Study has found, with consumers around the world also increasingly interested in the payments possibilities of virtual reality, artificial intelligence, smart home assistants, wearables, and the Internet of Things... More
Millennials not giving up on cash and checks
Millennials have “one foot firmly planted in both the future and the past” when it comes to mobile payments, a study by Accel and Qualtrics says... More
Chinese mobile payments exceed US$1tn in one quarter
China’s third-party mobile payments market reached RMB 9,041.9 billion (US$ 1314.23 billion) in size during Q3 2016, a quarter on quarter increase of 20.5%, according to research published by China-based Analysys... More
Mobile World Congress survey: IoT and mobile payments ‘biggest business opportunities’ for 2017
The Internet of Things (IoT) is seen as the biggest business opportunity of 2017 by nearly half of visitors and exhibitors at Mobile World Congress surveyed by the GSMA (48.2%), followed by mobile payments (14.5%) and artificial intelligence (14%). More
UK sees 250% rise in NFC mobile payments in stores
The number of mobile transactions as a percentage of all in-store transactions has grown by 247% in the UK over the last year, analysis of transaction data and a consumer survey conducted by payments processor Worldpay has found. Workers paying for lunch on the go and payments for drinks in bars are the main drivers of the increase in transaction volume. More
More than 500m people now have a mobile money account
Over half a billion mobile money accounts have been registered in 92 countries, with 1.3bn transactions processed in December 2016 alone, research from GSMA reveals... More
NXP reveals secure element and NFC solution that speeds transaction times, increases security and supports smaller form factors
PARTNER NEWS: A new embedded secure element and NFC solution from NXP will make it possible for mobile transactions to be conducted at the same speed as contactless card transactions... More
Consumers show more trust in mobile wallet security
Global consumers are “more concerned” with protecting their financial and payments information on a computer than protecting the same data in a mobile wallet, ACI Worldwide and Aite Group research reveals, with more than 80% believing their mobile wallet data is secure... More