Samsung Rewards ‘increased the use of Samsung Pay by 48%’

Samsung Rewards: Growing big in year one, with a preview of the year ahead — Samsung — “After a year of growing 25% month-over-month, millions of people are enrolled in and actively use Samsung Rewards. In the first week of November alone, we gained more than one million new users in the United States… We estimate that Rewards increased the use of Samsung Pay by 48%… We are also exploring adding innovative new features that our consumers will enjoy such as peer to peer points sharing and integration with partner loyalty programs.”


US banks complete first transaction using real-time payments system

First new core payments system in the US in more than 40 years initiates first live payments — The Clearing House — “’RTP is one of the most important payment transformation efforts in our industry. It goes far beyond helping financial institutions address the legacy challenges of payment processing in the US (speed, transparency, cost) and improving the client experience. Bringing online a truly real time, two way, 24×7 payment and messaging system will create new scenarios and entire new markets in ways we have not even anticipated,’ said Ian Stewart, CEO of BNY Mellon Treasury Services.”


PayPal tops US survey of most trusted financial services brands

Landor Pulse: PayPal leads as most trusted financial services brand — Landor — “Approximately 30% of consumers rank PayPal as trustworthy, compared with 25% for Visa, 23% for Mastercard, and 17% for American Express… Apple Pay and Google Wallet are trusted by only 13% of consumers… Just 17% think Capital One and Chase are trustworthy, with Bank of America one point below at 16%… Bitcoin has the lowest rating of all, with only 6% of consumers believing it to be trustworthy.”


US to open up banking market to non-banks?

US regulator says time to review mixing banking with other businesses — Reuters — “US regulations that bar companies such as Wal-Mart Stores Inc from providing banking services need to be reviewed as they reduce competition thereby concentrating more risk among a smaller number of banks, a US banking regulator said… Noreika on Wednesday said that allowing non-financial companies to run banks could strengthen the banking system by boosting competition and increasing diversity. The OCC is exploring providing a charter specifically for financial technology providers such as payment processor Square Inc.”


Apple Pay Cash goes live in latest iOS and watchOS public beta releases

Apple Pay Cash now available in beta on iOS 11.2 and watchOS 4.2 — 9to5Mac — “The new feature lets you send and receive payments using Apple Pay over iMessage as well as pay in stores with a new Apple Pay Cash virtual debit card… Apple Pay Cash will be available for all customers in the United States when iOS 11.2 and watchOS 4.2 are officially released, and developer and public beta testers can start using the feature today.”


US Bank to use phone location data to authorize transactions

US Bank adds opt-in location services to mobile app, making life on the go more flexible during the holidays — US Bank — “US Bank has added location services to the US Bank Mobile App, offering US Bank Visa credit and debit card customers technology that uses their phones’ location to help verify whether their mobile devices and credit or debit card are in the same location. By using the mobile device’s location in the authorization decision, US Bank can help give consumers the confidence that their transactions will be approved, minimizing disruptions and further reducing the risk of fraud.”


Walmart Pay to overtake Apple Pay in the US?

Walmart Pay threatens to surpass Apple in US mobile payments — Bloomberg — “Available in 4,774 stores, Walmart Pay is enrolling tens of thousands of new users a day, up from thousands four or five months ago, said Daniel Eckert, who runs the business. Two-thirds of the customers who try it also use it a second time within 21 days, he said, giving him confidence Walmart Pay will surpass Apple Pay in the US in terms of use by shoppers in stores where they’re accepted.”


Wells Fargo to offer mobile-first bank accounts

Wells Fargo announces a mobile-first banking experience to encourage financial health — Wells Fargo — “Combining personal finance management tools with Wells Fargo banking, the Greenhouse experience will help consumers pay bills on time, spend confidently, and start to build a savings cushion — all while providing personalized insights through artificial intelligence to help them stay on track. Greenhouse, a standalone mobile app, will be available in a limited, national pilot in the first quarter of 2018 and will launch for Apple iPhone users during the first half of 2018.”


eMarketer raises mobile payments forecast for China

eMarketer projects surge in mobile payments in China — eMarketer — “eMarketer has raised its projections by more than 86% for 2017, and now expects 461.4 million people in the country to use a phone to pay at the POS… By 2021, 79.3% of smartphone users will be tapping, scanning and swiping at the POS. By comparison, the US will have 31% of users doing so, and that figure will be 23% in Germany.”


Indian mobile wallet giant Paytm plans expansion to US, Japan and Europe

India’s top payment app has eyes on US market — Wall Street Journal — “India’s largest mobile payment app — backed by the likes of China’s Alibaba Group Holding Ltd and Japan’s SoftBank Group Corp — has its eye on the US, its founder said. Speaking at The Wall Street Journal’s D.Live Singapore event, Paytm founder and chief executive Vijay Shekhar Sharma said his aim is to expand into developed markets, also including Japan and Europe.”


Capital One rolls out Eno chatbot to credit card and banking customers

What we learned about what our chatbot learned — Capital One — “In March at SXSW 2017, Capital One launched an invite-only pilot of Eno, the first natural language SMS chatbot from a US bank. Today, we’re thrilled to announce that Eno has emerged from the pilot and is now available to text with millions of Capital One US credit card and bank customers.”


Auriemma reports 5% dip in mobile payment usage in US stores

Security concerns and problems at the register continue to depress mobile pay usage and net promoter scores — Auriemma Consulting Group — “Many Pay users run into problems at checkout… Half of those who had problems at a retail location that accepts mobile payments say the issue made them use the service less often overall… In fact, 45% of in-store Pay purchasers quit trying to use mobile payments entirely, and use a physical card instead.”


Amazon Key to let delivery drivers and service providers into homes

Introducing Amazon Key, a new level of delivery convenience for Prime members — Amazon — “Available initially in 37 cities across the United States, Amazon’s innovative new service enables in-home delivery at no extra cost. Amazon Key also allows customers to grant secure home access for guests and, coming soon, tens of thousands of service providers, such as Merry Maids, Rover and professional services from Amazon Home Services. Amazon Key includes the Amazon Key app, a smart lock and the company’s newest device, Amazon Cloud Cam, an intelligent indoor security camera.”


New York City to get NFC mobile ticketing from 2019

MTA approves plan to scrap MetroCards for ‘tap’ payment system — New York Daily News — “The Metropolitan Transportation Authority’s board took its first step on Monday to retire the MetroCard and bring technology to let people “tap” their way through turnstiles and onto buses… Transit passengers in 2019 will be able to tap their way using a bank card or smartphone on 500 turnstiles and 600 buses, plus load up their chosen device with money online… In 2020, all subway stations and buses will have the tech.”


Zelle reports 65,000 new customers a day for its bank-led P2P payments service

Zelle returns to Money 20/20 with a surge in network payments — Zelle — “In Q3 2017 (July – Sept) Zelle payments surged, with an average of 65,000 consumers enrolling daily, resulting in the network processing more than 60m real-time person-to-person (P2P) payments, valued at US$17.5bn… This success comes as the number of financial institutions in the Zelle Network grows to more than 50.”


Amex applies for personalized blockchain rewards patent

American Express eyes blockchain for customer rewards systems — CoinDesk — “A new patent application published last week by the US Patent and Trademark Office details a concept for offering customer-specific types of rewards (including points, a virtual currency or specific items tied to a product). The filing indicates the financial giant would make these offers by compiling personalized data about the customer, such as their historic spending patterns.”




The Clearing House to secure real-time payments system with tokenization

Mastercard and The Clearing House partner on tokenization solution — Mastercard — “The Clearing House (TCH) and Mastercard announced they are partnering to enable TCH to provision and manage Mastercard-branded tokens on behalf of banks… The Clearing House will launch its card tokenization solution in the next quarter, and is in the process of extending tokenization to other networks it manages, including Real-Time Payments (RTP).”


PayPal to turn Venmo P2P payments app into ‘ubiquitous digital wallet’

Venmo now accepted at millions of retailers — PayPal — “Starting this week, Venmo customers can use their Venmo account to shop and make purchases on their mobile phone at more than two million US retailers, almost everywhere PayPal is accepted… Our vision for Venmo is to not only be the go-to app for payments between friends, but also a ubiquitous digital wallet that helps consumers spend wherever and however they want to pay, regardless of device.”


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