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    WeChat Pay and offline mobile payments see “incredibly high” uptake in China

    April 26th, 2017

    Nine in ten Chinese mobile internet users (92%) choose mobile payment apps such as WeChat Pay as their primary offline payment method today, research released by Tencent Online Media Group’s newly launched research project China Tech Insights reveals, while “smartphone built-in payment tools” such as Apple Pay are currently used by approximately 12%. More

    Kiwi millennials want biometrics for payments

    April 19th, 2017

    Some 62% of New Zealand’s millennials would like to use a fingerprint or retina scan to make payments, viewing biometrics as “secure and convenient and having the cool factor”, research released by Visa reveals. “61% say they already use their smartphone to pay for everyday items,” the payment network adds.

    More than 150m people to use Apple Pay, Samsung Pay and Android Pay by end of 2017

    April 11th, 2017

    The number of consumers using OEM Pays — mobile payment services delivered by handset manufacturers — such as Apple Pay, Samsung Pay and Android Pay will exceed 100m for the first time during the first half of 2017 and is expected to surpass 150m by the end of the year, Juniper Research reveals, while host card emulation (HCE) adoption is set to rise five-fold over the next four years. More

    Low uptake of SIM-based mobile payments leads to decrease in NFC SIM shipments in 2016

    April 5th, 2017

    The global number of NFC SIM card shipments decreased in 2016 due in part to a “lower than anticipated” consumer uptake of SIM-based mobile payments and the impact of the closure of the Softcard mobile wallet in the US, the SIMalliance has revealed, despite reporting growth in NFC SIM shipments in key countries across Europe and the CIS regions, highlighting the demand in specific markets. 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.”

    Boston Fed calls for clearer value proposition to encourage mobile payments

    March 28th, 2017

    The value proposition for using mobile payments must be clearly stated to customers in order to change their behaviour from using plastic cards to mobile phones, says the Federal Reserve Bank of Boston following the completion of a research project that tested four mobile wallet models including NFC and QR codes. “While security issues remain a major barrier to mass mobile payment adoption and are being addressed by the industry, general consumer adoption is the real hurdle,” the bank says.

    UK consumers want more biometric security options for online banking

    March 27th, 2017

    More than half of UK consumers (56%) would prefer to use a biometric security method over traditional options like passwords to log into their financial accounts online, research released by Equifax reveals. 33% would prefer to use fingerprint recognition, 31% would like to use iris scanners, 7% facial recognition and 3% voice recognition. More

    Study reveals US attitudes to authentication methods

    March 27th, 2017

    Nearly half of US millennials (48%) are willing to switch from passwords to another identification method to access their bank accounts, research released by Aite Group shows. This compares to 40% of generation X, 29% of baby boomers and 16% of seniors. More

    Chinese millennials rush to pay by mobile in stores

    March 20th, 2017

    More than eight in ten Chinese millennials (85.6%) use in-store mobile payments at least once a week compared to 44.7% of US millennials, research released by branding agency Labbrand reveals. The findings are based on a survey of 20- to 35-year-olds in both countries.

    Australian banks brand non-NFC alternatives to Apple Pay ‘unrealistic’

    March 15th, 2017

    Relying on Android or alternatives to NFC for successful mobile payment services in a country with one of the world’s largest iPhone market shares and high contactless card use is “unrealistic”, the group of Australian… More

    Security fears hit confidence in mobile payments

    March 15th, 2017

    More than two thirds of global consumers (70%) fear hackers could steal their personal information when they use a mobile wallet, and 67% worry their money could be stolen, a report from Oxford Economics and Charney Research says. “We found companies underestimate consumers’ enthusiasm for mobile payments, and businesses must do more to address their customers’ security concerns,” adds Oxford Economics, following the survey of 2,000 consumers and 300 business executives around the world.

    Boston Fed calls for more education to boost mobile payments

    March 14th, 2017

    The Federal Reserve Bank of Boston says awareness of mobile payments “continues to grow” but “more education for consumers and employees” is needed to achieve mass adoption of mobile and digital wallets. The bank’s call comes after it completed a research project, which saw members of its payment strategies group testing a range of services on iPhones and Android devices for in-store and remote purchases.

    Offers increase US mobile payment transaction frequency in stores by 50%

    March 8th, 2017

    Transaction-based incentives are driving the use of mobile payments both in-store and in-app across the US, research from Auriemma Consulting Group (ACG) shows, with those who received an incentive to use mobile payments in-store over… More

    One in five US smartphone owners use mobile payments in stores

    March 6th, 2017

    Nearly 20% of US smartphone owners have used a mobile payment app at a retail location, research released by Parks Associates shows. “PayPal is overwhelmingly the most used payment app with 63% of payment app users choosing this payment solution, compared to 38% who use the Starbucks app,” the firm says, adding that 80% of consumers are “very satisfied” with the mobile payment apps they use.

    Contactless payments tripled in the UK last year

    March 3rd, 2017

    British consumers made contactless transactions to the value of £25bn (US$30.6bn) last year, up from £7.75bn (US$9.48bn) in 2015, The UK Cards Association reports. One in four card payments in the UK was made using… More

    Mastercard analyzes social media payments buzz

    March 3rd, 2017

    Digital wallets were the new way to pay most discussed by consumers on social media in 2016, the 2017 edition of the Mastercard Digital Payments Study has found, with consumers around the world also increasingly interested in the payments possibilities of virtual reality, artificial intelligence, smart home assistants, wearables, and the Internet of Things. Biometric security technologies were also a popular topic of conversation.

    Millennials not giving up on cash and checks

    March 2nd, 2017

    Millennials have “one foot firmly planted in both the future and the past” when it comes to mobile payments, a study by Accel and Qualtrics says. The report reveals that 42% still write checks, while five times more millennials pay with cash than use mobile payments platforms.

    Chinese mobile payments exceed US$1tn in one quarter

    March 1st, 2017

    China’s third-party mobile payments market reached RMB 9,041.9 billion (US$ 1314.23 billion) in size during Q3 2016, a quarter on quarter increase of 20.5%, according to research published by China-based Analysys. Alipay secured 50.42% of the market, followed by Tenpay (38.12%) with Lakala a distant third at 3.32%.

    Mobile World Congress survey: IoT and mobile payments ‘biggest business opportunities’ for 2017

    March 1st, 2017

    The Internet of Things (IoT) is seen as the biggest business opportunity of 2017 by nearly half of visitors and exhibitors at Mobile World Congress surveyed by the GSMA (48.2%), followed by mobile payments (14.5%) and artificial intelligence (14%). More

    UK sees 250% rise in NFC mobile payments in stores

    February 28th, 2017

    The number of mobile transactions as a percentage of all in-store transactions has grown by 247% in the UK over the last year, analysis of transaction data and a consumer survey conducted by payments processor Worldpay has found. Workers paying for lunch on the go and payments for drinks in bars are the main drivers of the increase in transaction volume. More

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