More than half of US consumers (56%) don’t know what an EMV credit card is and 53% have not yet received one, research from Harbortouch reveals... More
Research
Half of Canadian bankers not yet ready for mobile payments
Nearly half of Canadian banking executives (46%) do not think they have the IT infrastructure systems and processes in place to meet present and future customer expectations for mobile payments, research from telecommunications provider CenturyLink reveals. “70% said they don’t have the infrastructure in place, or it needs improvement, for digital channels,” the company adds... More
Nine in ten US financial institutions working on EMV
Nine in ten US financial institutions have either begun issuing EMV debit cards or are planning to do so by the end of 2015, research from Pulse reveals... More
13% of UK consumers have made an in-store mobile payment
Some 13% of UK consumers have made an in-store mobile payment, up from 3% last year, Deloitte’s Mobile Consumer 2015 report reveals... More
European contactless payments up 170%
Contactless transactions grew by almost 170% year-on-year in Q2 2015 across Europe and consumers already using contactless tapped 20% more often, research from MasterCard reveals... More
Engineers trial wireless communication via human body
Electrical engineers at the University of California San Diego have demonstrated a new wireless communication technique that works by sending magnetic signals through the human body. More
Brits spend £2.5bn with contactless in first half of 2015
More than £2.5bn (US$3.8bn) was spent using contactless cards in the UK in the first half of 2015 compared to £2.32bn (US$3.55bn) for the whole of 2014, research from The UK Cards Association reveals as the UK contactless limit is raised from £20 (US$30) to £30 (US$46)... More
$14.9bn biometrics market by 2024
The worldwide biometrics technology market will grow from US$2bn in 2015 to $14.9bn by 2024, research firm Tractica predicts... More
620m biometric app downloads by 2020
More than 620m mobile banking apps that support biometrics for customer authentication and transaction verification will be downloaded by 2020, research from Goode Intelligence predicts... More
NFC chip market to rise 50.6%
The global NFC chip market will grow at a compound annual growth rate (CAGR) of 50.6% by volume over the period 2014-2019, analysts from market research firm Technavio predict in the company’s ‘Global NFC Chips Market 2015-2019’ report... More
UK consumers increase contactless spending 560% in 12 months
The amount British consumers have spent using their contactless cards has increased 560% in the last 12 months, research from MasterCard has revealed — a more than sixfold year-on-year growth and up from a 373% increase in the year to July 2014... More
Mobile payments market to reach US$1tn by 2017
About US$1tn will be spent using mobile payments services in 2017, up 124% from less than US$500bn expected in 2015, International Data Corporation says... More
Four in five Apple Watch owners use Apple Pay
Some 80% of Apple Watch owners that are eligible to use Apple Pay have already done so, research from Wristly has found, with 79% saying they prefer using the mobile payments service on their Apple Watch over their iPhone... More
Apple Pay gets 98% satisfaction rate for in-store purchases
Apple Pay has gained a 98% satisfaction rate among those that have used the mobile payments service to make an in-store payment in the US, Auriemma Consulting Group’s Marianne Berry has told NFC World, adding that the average number of in-store Apple Pay purchases per week among all users now stands at 2.6... More
Transaction amounts on iOS double those on Android
Average transaction amounts on iOS devices (US$124.47) were almost double those made on Android ($65.22) in 2014, research from Kount reveals... More
Less than half of US small businesses aware of EMV liability shift
Only 49% of small business owners in the US that accept point-of-sale card payments today are aware of the EMV liability shift on October 1, with just 29% intending to make the change before the deadline and 34% intending to do so afterwards. More
11% of US retailers integrate loyalty with payment app
Some 11% of US retailers have already integrated a loyalty program into a mobile payment app, while 40% plan to do so within the next two years and 20% in three to five years, research from Boston Retail Partners reveals... More
25% of world’s population to use mobile banking in four years
More than 25% of the world’s population will use mobile banking in the next four years, research from KPMG using data from UBS Evidence Lab reveals, predicting the number of users will double to 1.8bn... More
US IT decision makers unprepared for EMV
Some 42% of US IT decision makers have taken no steps or are unaware of any progress being made in the migration towards EMV, research from Randstad Technologies finds, with only 58% actively preparing in time for the October liability shift deadline... More
42% of US iPhone 6 owners use Apple Pay in May and June
More than two fifths of iPhone 6 and 6 Plus users reported having used Apple Pay between the end of May and mid-June, with 84% making more than three in-store transactions, the bi-monthly Apple Pay tracker from Auriemma Consulting Group (ACG) reveals... More