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    Cash

    News about Cash.

    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

    US bank to upgrade all ATMs for mobile withdrawals

    January 13th, 2017

    US bank Wells Fargo expects to be the first bank to fully convert all its ATMs to support a mobile withdrawals service, allowing customers to get cash by entering an eight-digit code generated by the bank’s app plus their PIN into the machine, CNN Money reports. The bank will begin enabling its 13,000 ATMs in spring 2017. Reports that Wells Fargo was working to add NFC to its ATMs emerged in February 2016.

    Hungary’s national bank to launch instant payments through mobile phone numbers

    December 21st, 2016

    A proposal from Hungary’s central bank Magyar Nemzeti Bank (MNB) for the launch of an instant payments service that will allow consumers to initiate a payment using only the mobile phone number of the recipient,… More

    Samsung Pay prepares for India launch

    December 19th, 2016

    Samsung Pay is testing its mobile payment service in India, and could be launched there in the first half of 2017, SamMobile reports. “Since India does not have many NFC-equipped point-of-sale devices, Samsung Pay’s MST (magnetic secure transmission) functionality would be a boon to users,” the publication adds. The move follows the withdrawal of Rs 500 (US$7) and Rs 1,000 ($14) notes across the country in November 2016.

    Indian merchants get new digital payments service

    December 14th, 2016

    Vodafone India has unveiled Vodafone M-Pesa Pay, a digital payment solution allowing merchants to receive payments from customers using their M-Pesa wallet, bank account, or debit or credit card. Retailers need to download the Vodafone M-Pesa app and register for Vodafone M-Pesa Pay as a merchant to use the service. The move follows the withdrawal of Rs 500 (US$7) and Rs 1,000 ($14) notes across the country.

    Pakistan bank offers mobile ATM cash withdrawals

    December 7th, 2016

    Customers of Pakistan’s Askari Bank can now withdraw cash from ATMs using their mobile phone. “All customers need to do is log in to their mobile wallet to generate a voucher,” technology provider TPS says. “A unique voucher code (one-time password) is instantly sent to customers via a text message on their registered mobile number. Customers can redeem the voucher at all Askari Bank ATMs across Pakistan.”

    Barclays pilots cash withdrawals using NFC mobile phones and contactless cards

    November 21st, 2016

    UK bank Barclays has begun piloting a contactless mobile cash service that will enable customers to withdraw cash with a tap of their NFC mobile phones or contactless debit card. The service is scheduled to… More

    Australian bank branches stop dealing with cash

    November 17th, 2016

    Six retail branches of Citi bank in Australia are to stop dealing with cash because of falling demand from customers who prefer to manage their money digitally, the Sydney Morning Herald reports. Citi’s head of retail banking Janine Copelin said less than 4% of the bank’s customers had made cash transactions through a branch in the last year. The move comes as Australian Reserve Bank data shows cash was used in 78% of payments worth less than A$10 (US$7.46) in 2013, down from 95% in 2007.

    Indian mobile wallet ‘ready for 300m users’

    November 17th, 2016

    Indian mobile wallet provider MobiKwik says it is ready to serve 300m users, up from its current 35m customer base, in the wake of the government’s withdrawal of Rs 500 (US$7) and Rs 1,000 ($14) notes from circulation. A spokesman says it has registered 18 times growth in transactions since the announcement of demonetisation earlier this month and is gearing up to accept 100m daily transactions. Mobile financial solutions provider Mahindra Comviva told NFC World demonetisation would make mobile payments the “de-facto payment mode” in India.

    RBL Bank brings Masterpass QR mobile payments to India

    November 16th, 2016

    Customers of India’s RBL Bank can now make QR code-based mobile payments using Mastercard’s Masterpass QR mobile payments solution, which has been integrated as a payment option within the bank’s OnGo mobile wallet. “Shoppers can… More

    Mobile payments to become ‘de-facto payment mode’ in India after banknote change

    November 15th, 2016

    Mobile payment transaction volume in India is expected to grow more than 90% each year over the next five years, with digital payments becoming the “de-facto payment mode” in the country, in the wake of… More

    Mobile payments awareness up in North America, but usage remains flat

    October 19th, 2016

    Nearly six in 10 North American consumers (56%) are now aware of mobile payment services — a 4% increase from this time last year, research from Accenture has revealed. However, the regular use of mobile… More

    Mobile-only bank goes live in Germany

    July 26th, 2016

    Mobile network operator Telefónica Deutschland has launched a mobile-only bank in partnership with Fidor Bank in Germany. The service will allow peer-to-peer (P2P) transactions to be made using mobile phone numbers and will come with a Mastercard debit card for in-store and ATM transactions. More

    More than half of Irish consumers now using contactless

    July 20th, 2016

    More than half of Irish debit and credit card owners (54%) are using contactless payments when purchasing goods and services, research released by payment technology provider BOI Payment Acceptance (BOIPA) reveals, with the average contactless payment standing at €11.33. More

    Cardless Cash heads to 70,000 additional ATMs

    July 18th, 2016

    US consumers will soon be able to withdraw cash from 70,000 ATMs belonging to Payment Alliance International (PAI) using their mobile phones through banking and payment technologies provider FIS’ Cardless Cash ATM functionality. “The partnership connects FIS Cardless Cash with PAI and brings mobile access to ATMs located at many of the nation’s largest retailers, gas stations, convenience stores and more,” FIS says. Cardless Cash was launched in January 2015 and had recorded hundreds of thousands of transactions by February 2016.

    Survey reveals Samsung Pay tops satisfaction list in US

    July 11th, 2016

    Apple Pay captures the greatest proportion of eligible users in the US with 33%, followed by Samsung Pay with 23%, research released by Auriemma Consulting Group (ACG) reveals. However, Samsung Pay users report higher satisfaction levels and fewer issues at the point of sale compared to Apple Pay users, with near equal proportions recommending both mobile payment services. More

    White paper explores payment industry in Bangladesh

    July 6th, 2016

    A 29-page white paper that explores the payment industry of Bangladesh and includes a detailed examination of its current systems, the evolution of alternative payment methods and the uptake of NFC, tokenization and EMV is now available to download from the NFC World+ Knowledge Centre. More

    Bank of America enables Apple Pay and Samsung Pay at ATMs

    June 20th, 2016

    Apple Pay and Samsung Pay can now be used to make withdrawals and transfers at Bank of America ATMs, according to a user on Reddit. “This does not work for deposits, which is weird since you would think withdrawals pose a greater risk for the bank than deposits,” the user writes. Bank of America added support for Android Pay at its ATMs in May when it also announced that the ATMs are capable of working with any NFC mobile wallet.

    Axis Bank to launch contactless transit and payments card in India

    June 15th, 2016

    Commuters across Bengaluru in India will soon be able to pay for travel on buses operated by Bengaluru Metropolitan Transport Corporation (BMTC) with a tap of an open loop contactless card provided by Axis Bank…. More

    Android Pay comes out on top in US survey

    June 14th, 2016

    Android Pay tops the list of the most popular mobile payment services used by US consumers with 19% saying they have made an in-store payment via the service, research from Walker Sands reveals.  More

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