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    Archive: Mobile payments

    India to rank states on digital transactions

    January 19th, 2017

    Niti Aayog, an Indian government policy think tank, is producing an index to rank Indian states based on the number of digital transactions made, according to Economic Times. The move follows the government’s demonetisation of Rs 500 (US$7) and Rs 1,000 ($14) banknotes and the launch of BHIM, a mobile payment service unveiled by prime minister Narendra Modi earlier this year.

    HSBC to launch Hong Kong P2P mobile payments app

    January 19th, 2017

    HSBC is to launch a P2P mobile payments app in Hong Kong early this year that will allow customers of any bank to transfer money using a recipient’s mobile phone number. The bank is issuing invitations to register for an Early Bird Sign Up promotion in exchange for HK$20 (US$2.57) credit and up to HK$100 (US$12.89) credit if customers refer a friend. HSBC supports a similar service in the UK called Paym which launched in April 2014.

    Singapore commuters to get NFC-enabled transport payment wearables

    January 19th, 2017

    Commuters in Singapore will soon be able to pay for public transport using an NFC-enabled fitness tracker or smartwatch linked to their EZ-Link transit card. The devices will allow for “fast, convenient and reliable” contactless… More

    Mercedes Pay mobile payments unveiled for Daimler mobility services

    January 18th, 2017

    Customers of Daimler’s mobility services will soon be able to use a dedicated Mercedes Pay mobile payments platform, allowing them to “easily and securely pay for mobility offerings and services using their smartphones”, the German… More

    P2P service expands to Macau

    January 18th, 2017

    Hong Kong ATM network Jetco has partnered with seven banks in Macau to offer Jetco Pay P2P, the mobile phone number-based transfer service that launched with 12 banks in January 2016. Participating banks include Banco Comercial De Macau, Banco Nacional Ultramarino, Tai Fung Bank, Bank of China Macau Branch, Industrial and Commercial Bank of China (Macau), Luso International Banking Limited and OCBC Wing Hang Bank. The service will roll out in the second half of 2017.

    Boon launches in France for Apple Pay users

    January 17th, 2017

    France has become the first eurozone country in which consumers with iOS devices can use Wirecard’s Boon service to make purchases with Apple Pay, by adding a virtual Boon card to the mobile payment service. Boon launched in Germany, the Netherlands, Austria and Belgium in December 2015. It expanded to Spain and Ireland in the same month, and launched in the UK with Apple Pay support in March 2016. Apple Pay launched in France in July 2016.

    Mobile marketplace offers African farmers promise of richer, cashless harvest

    January 17th, 2017

    Thousands of small-scale farmers across East Africa will soon be using their feature phones to buy, sell and receive payments for their goods through a mobile app and SMS service developed by Mastercard. The payments… More

    US bank backs top five mobile payment services

    January 17th, 2017

    US bank Fifth Third has announced it will support the five major mobile payment services — Android Pay, Apple Pay, Masterpass, Microsoft Wallet and Samsung Pay. “Consumers are rapidly adopting mobile payments and we are providing our customers with every option available,” says Jimm Bell from Fifth Third. The bank has witnessed a 133% increase in mobile payments among its customers since it added Apple Pay support in 2015.

    Mobile payments market worth $3,338bn by 2022

    January 17th, 2017

    The global mobile payments market will reach US$3,388bn by 2022, growing at a compound annual growth rate (CAGR) of 33.4%, Allied Market Research predicts. “NFC has high growth potential and is anticipated to exhibit CAGR of around 36% during the forecast period,” the firm says. “By mode of transaction, in 2015, SMS accounted for about 54% of the overall payments market share, followed by wireless application protocol (WAP). Asia-Pacific is expected to witness the highest growth rate.”

    Apple Pay offers Chinese New Year discounts

    January 17th, 2017

    Apple Pay users in Singapore are being offered a string of discounts when using the mobile payment service to celebrate the Chinese New Year. Deals include discounts of up to 20% at retailers including Cotton:On, Factorie, Rubi, Typo and Topshop, and S$30 (US$21.12) cashback on a first Apple Pay transaction made through Standard Chartered.

    Facebook gets Spanish e-money licence

    January 17th, 2017

    Facebook has obtained a licence to manage money transfers between users in Spain, according to El Pais. “After informing the Bank of Spain, Facebook is now on the financial institution’s registry of electronic money agencies,” the publication reports. “Facebook has yet to explain how it plans to roll out the service.” Facebook was granted an e-money licence to launch Messenger payments in Europe in December 2016.

    One in 10 UK consumers have used mobile payments, survey reveals

    January 16th, 2017

    More than one in 10 (11%) of UK consumers have made an in-store mobile payment and do so occasionally, with 2% doing so “wherever possible”, research from price comparison service uSwitch reveals. 6% of Britons… More

    25% of UK card payments now contactless

    January 16th, 2017

    A quarter of all UK card transactions in November 2016 were made using contactless debit and credit cards, The UK Cards Association reveals. A record £2.9bn (US$3.5bn), from 325m purchases, was spent using the technology during the month — an increase of 184% from November 2015 when contactless spending passed £1bn in a month for the first time.

    Australian bank offers instant digital card replacement

    January 13th, 2017

    Customers of Australian bank ANZ who report their card as lost or stolen will be issued with a replacement card instantly through Apple Pay or Android Pay. “Now our customers can keep using their digital wallet to make purchases while they wait for the new physical card to arrive in the mail,” says ANZ’s Katherine Bray. ANZ began support for Apple Pay in April 2016 and for Android Pay three months later.

    US consumers to use loyalty points as currency for in-store payments

    January 13th, 2017

    US consumers will soon be able to purchase goods using loyalty points from multiple programs through Verifone Points Redemption, a new service designed for merchants which connects to third party loyalty programs and alerts shoppers… More

    Gemalto secures mobile payments and loyalty pilot

    January 12th, 2017

    PARTNER NEWS: Retail giant Carrefour is piloting a mobile payments and loyalty service in France, secured with Gemalto’s Mobile Protector platform, that allows customers to validate payments with a PIN code or their fingerprint, receive and redeem coupons and access loyalty programs. The Wa! mobile wallet was originally developed by French bank BNP Paribas and merged with Carrefour’s Fivory electronic wallet in October 2016 to create a “unified, universal mobile payment solution”.

    Samsung Pay to get AI assistant?

    January 12th, 2017

    Samsung is to add a virtual assistant called Bixby to Samsung Pay, a Samsung Pay Beta page seen by Galaxy Club reveals. “It’s unclear how exactly it’ll work, but we’re hoping you’ll be able to say something along the lines of, ‘Bixby, send $30 to Carlos’,” Sammobile reports. The beta page also hints at the upcoming launch of the Samsung Pay Mini online payments app that was unveiled in May 2016.

    PayPal extends NFC payments with Discover

    January 12th, 2017

    US consumers will be able to make NFC mobile payments using PayPal at the point of sale wherever Discover is accepted, and use their Discover Cashback Bonus to pay at online and mobile merchants that accept PayPal. “The agreement provides PayPal with access to Discover’s tokenization services,” PayPal says. PayPal extended its support for NFC mobile payments through a deal with Visa in July 2016 and partnership with Mastercard in September.

    European Central Bank calls for Europe-wide P2P mobile payments by end of 2017

    January 11th, 2017

    Consumers will be able to make peer-to-peer (P2P) mobile payments across Europe using only the payee’s mobile phone number which will act as proxy for their international bank account number (IBAN) by the end of… More

    Guide explains key concepts of tokenization

    January 11th, 2017

    A 12-page guide that presents an overview of tokenization, how it secures mobile payments and where it fits into the payment processing chain is now available to download from the NFC World Knowledge Centre. ‘Quick Guide: Tokenization’ has been produced by Rambus Bell ID for those new to tokenization or who need to understand the key concepts involved.

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