Payment methods like Apple Pay and Google Pay will be used by US consumers to make transactions valued at a total of US$78.6bn this year, representing 1.6% of all US brick-and-mortar retail sales, according to a new forecast from 451 Research... More
Vietnam has recorded the highest growth in mobile payments in the past year, according to research by PwC... More
Merchants winning the battle for mobile wallet supremacy — Javelin Strategy & Research — “In the rush to market, the main wallet value proposition, paying at the POS, wasn’t particularly compelling. In reality, loyalty and rewards will drive adoption, something merchants are doing particularly well,” said Krista Tedder, director of payments at Javelin Strategy & Research.”
Apple Pay increasingly central to iPhone — Loup Ventures — “We estimate that Apple Pay now has over 252 million users, which equates to 31% of the active iPhone base… Adoption of Apple Pay continues to accelerate exponentially overseas compared to the US, with 85% of users being international vs 15% in the US… With the continued expansion into new markets and new partnerships with banks, we expect transaction growth of 200% over the next 12 months.”
Razer Pay gains 300,000 users in Malaysia within 48 hours — Razer — “Within 48 hours from the launch of Razer Pay on 4 July 2018, over 300,000 users in Malaysia downloaded and signed up for the Razer e-wallet app designed for youth and millennials… Also within the same 48 hours, over 11,000 transactions were made by first-time Razer Pay users at Berjaya Group stores (such as 7-Eleven and Starbucks).”
This woman is fattening the Apple Pay wallet — Fast Company — “We essentially put on an Apple Pay street fair. Local merchants who accept Apple Pay present an offer — maybe a dollar off your ice cream. We bring in food trucks and [feature] fun activities… We’ve also done event-type marketing at music festivals. Last year at BottleRock [a music and wine festival in Napa Valley], we worked with the event organizers to create Apple Pay-only lines. When you go to a concert, the last thing you want is to stand in line to pay for your beer.”
What’s really holding back in-store mobile payments? — GfK — “While security is often buried in promotional content to some degree, elevating this message to the first position could be a key to quicker adoption. The message of ‘the safest way to pay’ may be the path forward for mobile payments.”
Only one in ten iPhone owners have used Apple Pay and, among those who haven’t done so, 63% said it’s because their preferred merchants don’t support it as a payment option, research from Parks Associates reveals... More
NFC World’s educational webinar on NFC and how it can be used to lift IoT adoption by bringing plug-and-play simplicity to smart homes and the internet of things will be held today at 15:00 GMT... More
Limited merchant acceptance points, fragmentation and consumer concerns over security and privacy will remain “substantial hurdles” to mobile payments at the physical point of sale in 2016, according to analysts at the Federal Reserve Bank of Atlanta... More
Taiwan Mobile Payments Co (TWMP), the mobile payments TSM venture established in 2014 by three Taiwanese banking groups, has signed a deal with Mozido to provide its 27 member banks and financial institutions with a mobile wallet platform that offers support for both secure element and HCE cloud-based NFC payments... More
PARTNER NEWS: The prevalence of EMV in the UK, lower interchange fees and the existing contactless infrastructure will lead to faster adoption of Apple Pay in the UK than in the US, Gemalto’s Rémi de Fouchier forecasts... More
The spending limit for contactless transactions is to be increased from £20 (US$30) to £30 (US$46) in September 2015, The UK Cards Association has told NFC World. The move follows the news last week that contactless card usage surged in the UK in 2014 to 319.2m transactions with total spend more than trebling to a record £2.32bn. More
American Express has warned that mobile wallets are likely to see slow adoption, even for Apple and its customer base... More
Starting today, NFC World has a new name and a new mission — to report on the full array of emerging technologies that are transforming how consumers choose what to buy, who to buy from, and how to pay... More
Just over a third of British adults (35%) are aware of NFC-enabled mobile devices, with 9% saying they know that their personal device is NFC-enabled and 22% of those having used NFC to make a payment, a YouGov survey of 1,501 people has found... More
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