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    50% of Americans use mobile banking

    May 24th, 2016

    Half of US adults now use mobile banking, with the number of users increasing by 29m since last year, research released by Javelin reveals. “This dramatic shift in consumers’ channel preferences puts pressure on financial institutions to innovate in the space to meet increased demand for mobile functionality,” the firm says.

    A third of Europeans have made a mobile payment

    May 4th, 2016

    Nearly a third of European consumers (32%) have now made an in-store mobile payment, research by Fujitsu shows, while 22% have adopted wearable technologies. 44% still use cash every day, 37% would consider leaving their current bank or insurer if they don’t offer up-to-date technology, 47% would let banks or insurers use their data to recommend relevant products and services and 44% want their data used to keep them informed of their spending habits.

    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

    Three quarters of Brits expect to be cash-free by 2021

    April 26th, 2016

    Almost three quarters of UK consumers (73%) do not expect to be using cash in five years’ time in light of the rise of contactless payments and mobile wallets, research released by digital media agency Starcom reveals, and a third believe cash will be extinct within the next 15 years. More

    European spend on payments technology to rise

    April 26th, 2016

    Nearly three quarters of European retailers and financial institutions (71%) plan to increase their spending on payments technology in the next 18 to 24 months due to increasing competition and a feeling of being “under siege”, research from ACI Worldwide and Ovum shows. “Banks are seen as the primary provider of payment services by European retailers,” says ACI Worldwide. “87% want to work directly with banks.”

    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

    ShopKeep reports on mobile payment adoption

    April 12th, 2016

    Nearly nine in ten US merchants using ShopKeep technology (87%) have seen little-to-no adoption of mobile payments at their business in the past six months, research released by the POS system provider reveals. “Despite these findings, 59% of small businesses still predict that, in the next two years, 50% of consumers will be using mobile payments such as Apple Pay as their primary payment method,” ShopKeep adds.

    61% of US Apple Watch owners use Apple Pay

    April 12th, 2016

    Nearly two thirds of Americans with an Apple Watch (61%) use the device to make payments with Apple Pay, research from Fluent reveals. “With 61% saying they have made a purchase using their watches, there is room for improvement but that’s a healthy number of users right out of the gate and should only grow with future releases,” the firm’s Jordan Cohen writes in a blog post.

    One in three UK consumers don’t trust contactless payments

    April 11th, 2016

    Nearly one third (31%) of UK consumer never pay by contactless because “they don’t trust it”, research from Future Thinking reveals. 35% of men never make contactless payments due to lack of trust, compared to 29% of women, while 22% of under 35s never pay by contactless, compared to 43% of over 55s. 14% don’t know if their cards are contactless and 27% think £30 should be the maximum amount for a contactless payment. Only 9% of the 2,315 respondents said they pay with contactless and hope the limit rises.

    Federal Reserve reports on US mobile payment adoption

    March 31st, 2016

    Nearly a quarter of US adults with a mobile phone (24%) and 28% of those with a smartphone made a mobile payment in the 12 months prior to November 2015, a survey by the Federal Reserve reveals. “For smartphone owners who reported making payments with their phones, the most common types of mobile payments were paying bills, purchasing a physical item or digital content remotely and paying for something in a store,” the organisation says.

    A third of Americans unconvinced about mobile payment apps

    March 29th, 2016

    More than one third of Americans (36%) don’t feel a need for mobile payment apps, compared to 12% of Mexicans and 13% of Chileans, according to mobile banking service Fintonic. 23% of Americans don’t trust the technology, compared to 4% of Mexicans and 6% of Chileans. “Latin American countries such as Chile and Mexico are much more willing to embrace technological advancements in banking like mobile wallets,” the company says.

    Mobile payments to replace cash and cards by 2030?

    March 18th, 2016

    Seven in ten consumers (70%) believe that 2030 will be the year that mobile payments become secure enough for traditional payment methods such as cash and cards to no longer be required, the IEEE’s Global Cyber-security Survey has found. The biggest concerns with mobile payments today are payment information hacks (46%), unauthorized payments processed by a mobile payment provider (33%) and accidental payments made via NFC or QR codes (13%).

    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

    Nielsen reports on mobile wallet market in India

    March 14th, 2016

    Paytm is the most popular mobile payment app among Android smartphone owners in urban India, research from Nielsen reveals, with 39% of users with an internet connection making use of the service for an average duration of 70 minutes a month.  More

    Study examines attitudes to contactless payments in the UK, Germany and Spain

    March 11th, 2016

    More than 90% of British, German and Spanish business leaders interviewed for a survey of attitudes to contactless technology have already invested in contactless projects and expect that 10% of all transactions will be contactless within the next three years, a white paper now available to download from the NFC World+ Knowledge Centre reveals. More

    Apple Pay tops US merchant mobile wallet requests

    March 4th, 2016

    Nearly half of US point of sale merchants (44%) are using or have requested information about mobile wallet solutions and 67% of those wanted Apple Pay, an investor note by Piper Jaffray analyst Gene Munster reported by Barron’s reveals. “That figure dwarfs the 18% that requested Android Pay/Google Wallet, 8% for PayPal and 7% for Samsung Pay,” the report adds.

    58% of millennials prefer friends to pay cash

    March 3rd, 2016

    Nearly six in ten US millennials (58%) say cash is their preferred way of paying and being paid by friends, followed by P2P payment apps (26%), cheque (8%) and electronic bank transfer (8%), GOBankingRates reveals. Of the 26% who chose P2P payment apps, 11% prefer PayPal, followed by Venmo (6%), Google Wallet (5%) and Square Cash (4%).

    Generation Z leads the way in US mobile payments adoption

    February 29th, 2016

    US consumers aged between 18 and 24 are by far the most likely to make a payment while using their mobile phone, research from GfK shows, with more than half (53%) having made a mobile payment… More

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