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    Digital payments

    News about Digital payments.

    Mahindra Comviva explores the evolution of digital payments in India

    April 25th, 2017

    The most obvious recent change in the payments landscape across India is the significant increase in the number of digital payments taking place in both urban and rural areas as a result of the measures taken by the Indian government to push the cashless initiative to the top of the nation’s agenda, says Mahindra Comviva’s senior vice president and head of mobile financial solutions. More

    Amazon gets approval for digital wallet in India

    April 24th, 2017

    Amazon India has been granted a payment license by the Reserve Bank of India (RBI) to operate its own prepaid wallet in the country. “This will allow us to help customers adopt digital payments at scale and thereby contribute towards making India a less cash economy,” the company’s Sriram Jagannathan told The Indian Express. The move follows the launch of Amazon Pay Balance in India in December 2016.

    Mastercard rolls out Messenger payment bots with US retailers

    April 19th, 2017

    Subway, FreshDirect and The Cheesecake Factory have begun rolling out payment bots for Facebook Messenger across the US, allowing their customers to secure and complete payments using Mastercard’s Masterpass digital payment platform without having to leave the instant messaging service. More

    Apple Pay in-store adoption is “growing nicely”

    March 30th, 2017

    Apple Pay adoption at the point of sale is “growing nicely” and is “in-line with growth among other digital payment players” such as Google and Samsung, long-time Apple analyst Gene Munster reveals. “We believe that users are activating Apple Pay on about 30% of new iPhones,” the analyst, who has moved to Loup Ventures from Piper Jaffray, writes in a research note. “In total, we estimate that 13% of the 680m iPhones in use today have activated Apple Pay.”

    Mahindra Comviva adds offers and promotions to mobile money platform

    February 27th, 2017

    PARTNER NEWS: Mahindra Comviva is making it possible for mobile money operators to increase user engagement with the addition of a new service that enables relevant offers and promotions to be delivered automatically to users’… More

    Google Home owners get voice commands for grocery shopping

    February 17th, 2017

    Owners of the Google Home speaker powered by Google Assistant can now buy groceries using voice commands. “Order from participating Google Express retailers, including Costco, Whole Foods Market, Walgreens, PetSmart, Bed Bath & Beyond and more than 50 other national and locally available retailers,” Google says. “Over the coming months, we’ll add new features and enable purchases for other apps and services.”

    Samsung to bring Mini version of Samsung Pay to all Android handsets

    February 2nd, 2017

    Samsung is to launch a pared-down version of Samsung Pay which will make the mobile payments service available on all Android handsets. The Samsung Pay Mini app will support certain features of the original platform,… More

    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.

    Korean central bank to put small change on cards

    January 9th, 2017

    The Bank of Korea (BOK) is to pilot a service that allows merchants to give customers change in the form of a top-up onto a prepaid card instead of coins. The project forms part of… More

    Japanese financial service providers begin facial recognition payment trials

    December 13th, 2016

    Employees of Japan’s Sumitomo Mitsui Financial Group (SMFG), Sumitomo Mitsui Banking Corporation (SMBC) and Sumitomo Mitsui Card have begun a facial recognition service trial to authenticate purchases, with payments being deducted from their wage at… More

    Apple rejects Samsung Pay Mini on iOS

    December 13th, 2016

    Apple has rejected the registration of the Samsung Pay Mini online payments app onto its app store, according to ET News. “Competition between Samsung and Apple has expanded towards markets for online payments, and Samsung has decided to focus on Android rather than providing its service through Apple devices,” the publication reports. The app was expected to go live in South Korea in June 2016. It is now expected to be introduced in January 2017.

    India Reserve Bank drops two-factor authentication

    December 9th, 2016

    The Reserve Bank of India has removed two-factor authentication — involving the use of one-time passwords sent to mobile phones — for online card transactions up to Rs 2,000 (US$29), Live Mint reports. “Discarding two-factor authentication is an opt-in service, which means that customers will have to specifically opt for it.” The move follows the withdrawal of Rs 500 (US$7) and Rs 1,000 ($14) notes.

    Ant Financial invests in Ascend Money

    November 4th, 2016

    Alipay parent company Ant Financial is investing an undisclosed sum into Thai online payment provider Ascend Money. “Together with Ant Financial, Ascend Money will grow its online and offline payment and financial services ecosystem and strengthen its trusted and convenient payment services for users and merchants,” Ant Financial says. Reports that Ant Financial was seeking to buy a 20% in Ascend Money emerged in June 2016. The company made a similar investment in Indian mobile payment platform Paytm in September 2015.

    US smartphone owners switch to mobile payments

    October 31st, 2016

    More than half of smartphone owners in the US have used their mobile phone to pay for goods and services in-store and online, Mercator Advisory Group says. Eight in 10 who use mobile payment apps including Apple Pay say they are more convenient than using a payment card. More than half say it is faster and more secure, while 37% think it is harder. Seven in 10 would use mobile payments more if they automatically received rewards or discounts.

    Alipay heads to Australia with Commonwealth Bank

    October 31st, 2016

    Alipay has signed a memorandum of understanding (MOU) with Commonwealth Bank of Australia to enable in-store and online payments for Chinese tourists in Australia. “The two companies will work together to make it easier for Australian consumers to pay for purchases made through Alibaba Group’s ecommerce websites,” the bank says. “Commonwealth Bank and Alipay will also work together on a simple payment solution that allows Chinese tourists and Chinese students to use Alipay in-store,” enabling Alipay as a payment option through the bank’s Albert smart payment terminals.

    Apple unveils new MacBook Pro with Touch ID integration for Apple Pay payments

    October 28th, 2016

    Apple has unveiled a new version of its MacBook Pro, including Touch ID to allow owners to make secure payments with Apple Pay from their laptop, as well as unlocking the machine and switching user… More

    Nine out of 10 commercial banks exploring blockchain for payments, survey finds

    October 28th, 2016

    Nine out of 10 US, European and Canadian commercial banks are exploring the use of blockchain technology for payments, according to a survey of 32 top banking professionals by Accenture. Some 30% of banks are… More

    PBoC reports on China mobile payments market

    October 28th, 2016

    The number of mobile payments made in China have grown 10% year on year since 2013, according to the People’s Bank of China (PBoC). Its data shows that, during the second quarter of 2016, banks handled 32.32bn electronic payment transactions worth 570.95tn yuan (US$84.2tn), including 6.14bn mobile payment transactions worth 29.32tn yuan (US$900bn). Meanwhile non-bank payment institutions handled 37.71bn online payment transactions worth 23.35tn yuan (US$3.4tn), up 111% year on year.

    Frost Bank joins ClearXChange

    September 20th, 2016

    US financial institution Frost Bank has joined Early Warning’s bank-led digital payments network ClearXChange. “Through the network, Frost Bank is now able to offer P2P payments directly through its online and mobile banking platforms,” Early Warning says. “In the first quarter of 2016, customers at banks in the ClearXChange network completed more than 46m P2P transfers, accounting for over US$16bn in combined transaction volume.” The service was made available to all member financial institutions in June 2015. ClearXChange is reportedly in the process of rebranding as Zelle.

    White paper lays out best practices for banks launching HCE payments

    September 20th, 2016

    A 19-page white paper designed to help banks understand the key concepts of host card emulation (HCE) and tokenization technology and the best practices for evaluating and deploying HCE-based payment services is now available to… More

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