News about Bloomberg.
March 27th, 2017
Apple Pay is “struggling” in China due in part to a minority smartphone market share and consumers being “far more accustomed” to competing services such as Alipay and Tencent’s WeChat Pay. “I don’t think Apple Pay can achieve the same market share as Alipay or WeChat Pay in the foreseeable future,” Morningstar Investment Service analyst Marie Sun told Bloomberg. “Personally, I don’t see any benefits to switching myself.” Apple Pay launched in China in February 2016.
March 16th, 2017
Samsung’s Galaxy S8 flagship smartphone “will employ facial-recognition technology for mobile payments within months of release,” Bloomberg reports. The handset, due to be unveiled on 29 March, will “blend fingerprint, iris and facial detection to verify users accessing mobile services including Samsung Pay”. Apple’s iPhone 7S, 7S Plus and 8 are also expected to come equipped with facial recognition later this year to replace the Touch ID fingerprint scanner.
February 17th, 2017
Fashion retailers Ralph Lauren and Rebecca Minkoff are testing smart dressing-room mirrors that will soon allow shoppers to “wave their phones in front of the mirror and make a purchase using Apple Pay or Android Pay”, Bloomberg reports. The mirrors from Oak Labs read RFID tags on clothes and display complementary items, and allow customers to adjust the lighting and alert store assistants.
November 16th, 2016
Apple is looking at developing digital glasses connected wirelessly to a wearer’s iPhone, which would show images and other information in the wearer’s field of vision and may use augmented reality, a report in Bloomberg suggests. Apple has talked about its glasses project with potential suppliers, according to people familiar with those discussions, the report adds. Should Apple ultimately decide to proceed with the device, it would be introduced in 2018 at the earliest.
October 25th, 2016
Apple Pay is now live in Japan, enabling local iPhone and Apple Watch users to make payments in stores and on public transportation services that support the widely used Sony FeliCa-based Japanese NFC payments system….
August 30th, 2016
Apple is planning to launch an iPhone in Japan equipped with Sony FeliCa NFC technology to allow owners to make payments for travel and other services. The company is intending to work with “multiple transit…
August 23rd, 2016
Singapore plans to reduce the role of cash and checks by encouraging banks to switch to digital payments, according to the Monetary Authority of Singapore’s (MAS) Ravi Menon. “Menon said the MAS is asking the country’s banks to pass on to their customers the full cost of paper-intensive services,” Bloomberg reports. “The MAS also wants to see a majority of those transactions made using cellphones, or national ID or other secure numbers, rather than bank account numbers.”
June 16th, 2016
JPMorgan Chase has joined its US rivals in letting its customers transfer money in real time between financial institutions signed up to bank-led digital payments network ClearXChange. “JPMorgan, whose Chase QuickPay product handled US$20bn in P2P transfers last year, began offering the service Sunday after customers requested it,” Bloomberg reports. ClearXChange was made available to all member financial institutions in June 2015.
March 4th, 2016
Apple Pay has attracted 12m monthly users globally since its launch in October 2014, while Google’s Android Pay has attracted 5m monthly users since becoming available in September 2015 and Samsung Pay has also attracted 5m monthly users, according to research by Crone Consulting which has been reported by Bloomberg. Those numbers equate to some 6% of consumers able to make use of Apple Pay, the company estimates, compared to 4% for Samsung Pay and 1% for Android Pay.
February 5th, 2016
Apple Pay is now available in more than 2m US retail locations, according to Bloomberg, with the Crate & Barrel, Chick-fil-A and Au Bon Pain chains also due to roll out the service soon. “In addition to pushing past its goal to make Apple Pay available in 1.5m retail locations by the end of 2015, the company said the feature’s in-app purchase volume more than doubled in the last six months of the year compared with the first half,” Bloomberg reports.
January 7th, 2016
Alibaba affiliate Ant Financial, owner of mobile payment platform Alipay, is seeking an investment of at least 10bn yuan (US$1.5bn) ahead of a planned initial public offering, Bloomberg reports. “Ant Financial may use money from the current fundraising for acquisitions,” the publication says. Ant Financial made a strategic investment in Indian mobile payment platform Paytm in September 2015 after closing a Series A financing round that valued Ant Financial at more than US$45bn.
November 25th, 2015
Apple Pay has reached an agreement with China UnionPay to use its point-of-sale network to introduce the mobile payment service in China, according to Bloomberg. “Details of the agreement are yet to be finalized, pending feedback from banks that issue cards,” the publication reports. Apple is reportedly planning to launch Apple Pay in China before 8 February 2016.
October 8th, 2015
Scotiabank-owned direct bank Tangerine is reportedly experimenting with facial recognition technology on mobile devices. “The bank was the first in Canada to allow check deposits by taking photos with mobile phones in 2013 and to use fingerprint scanning and voice-enabled banking,” Bloomberg reports. “Tangerine is now delving deeper into such biometric technology to improve customer experience and security.”
September 1st, 2015
Point-of-sale terminal maker Ingenico has submitted a bid for UK-based payment processor WorldPay. “WorldPay is heading for a London stock market flotation in autumn that could value it at around £6bn (US$9.24bn), but has been targeted by several private equity and rival firms,” Reuters reports. The news follows a Bloomberg report last week that claimed Germany’s Wirecard has also joined the bidding.
August 6th, 2015
Ugo, the open NFC mobile wallet developed by Canadian banks President’s Choice Financial and TD Bank Group, has signed up 50,000 users since December. The company is on track to serve 100,000 users with 250,000 cards by year end, CEO Alec Morley told Bloomberg. The service was unveiled in November 2013 and launched to customers of all three major Canadian carriers in November last year.
July 27th, 2015
Mobile POS provider Square is reportedly set to go public after the company filed confidentially for an initial public offering. “Square has been working with Goldman Sachs Group, Morgan Stanley and JPMorgan Chase & Co,” Bloomberg reports. The company first surfaced in 2009 and most recently unveiled a new mobile POS device to enable small traders to accept Apple Pay in the US.
July 24th, 2015
US retailer-owned mobile payments consortium MCX is to test its CurrentC mobile wallet in stores next month, Bloomberg reports, adding: “MCX expects to formally introduce the CurrentC app some time in the third quarter.” MCX unveiled the CurrentC brand in September 2014 and confirmed to NFC World it would launch in a “mid-sized market” in April.
June 3rd, 2015
Samsung has delayed the launch of its Samsung Pay mobile payment service from this summer to September this year, Dr Injong Rhee, Samsung’s executive vice president of mobile commerce, has revealed during an investor meeting. “Samsung…
May 12th, 2015
Visa is in preliminary talks to buy former subsidiary Visa Europe in a deal that may be valued at as much as US$20bn. “The talks, which began when Visa approached Visa Europe, are at an early stage and could fall apart if the two sides can’t agree on a price,” Bloomberg reports. “Visa Europe is owned by more than 3,000 European banks and has a put option that would force its former parent to buy it within about nine months if at least 80% of its board agrees.”
May 6th, 2015
US retail giant Home Depot is planning to offer Apple Pay at its more than 2,000 stores, a rollout that would make it the largest retailer yet to accept the mobile payments service — though a deal with Apple is not yet in place. “It’s something we’d like to do,” the retailer’s Steve Holmes told Bloomberg, while mentioning that the chain may also add support for “other kinds of mobile payment”.