Customer satisfaction, overall brand image and retention metrics for banks are higher among customers who have a mobile payment service linked to their bank account, findings from the J.D... More
Survey
WeChat Pay and offline mobile payments see “incredibly high” uptake in China
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
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... More
UK consumers want more biometric security options for online banking
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
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
US Payments Forum offers card-not-present fraud advice
The US Payments Forum has published a survey of card-not-present (CNP) fraud worldwide to help the US payments industry assemble “layered, effective and systematic” mitigation strategies... More
Chinese millennials rush to pay by mobile in stores
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... More
Australian banks brand non-NFC alternatives to Apple Pay ‘unrealistic’
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 banks seeking access to the iPhone’s NFC functionality say in their latest submission to the Australian Competition and Consumer Commission (ACCC)... More
Security fears hit confidence in mobile payments
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... More
Offers increase US mobile payment transaction frequency in stores by 50%
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 a one-week period doing so 4.6 times compared to 3.1 times for those not offered an incentive... More
Millennials not giving up on cash and checks
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... More
Mobile World Congress survey: IoT and mobile payments ‘biggest business opportunities’ for 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
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
Consumers show more trust in mobile wallet security
Global consumers are “more concerned” with protecting their financial and payments information on a computer than protecting the same data in a mobile wallet, ACI Worldwide and Aite Group research reveals, with more than 80% believing their mobile wallet data is secure... More
Mobile wallet providers ‘failing to realise full potential of loyalty programs’
Mobile financial service providers are failing to fully realise the potential of loyalty programs to drive revenue growth, a survey by customer experience solutions provider Amdocs and consultancy firm Ovum says, while those who employ loyalty programs are “better placed” to increase usage and adoption of their mobile wallet service... More
Eight in 10 US consumers would prefer an Amazon Go automated store to traditional shopping
Some 84% of US consumers say they would enjoy shopping at an Amazon Go automated store more than a traditional grocery store, but a fifth think they would lose out on traditional shopping experiences by doing so, the results of a survey of 1,000 shoppers released by packaging solutions provider Shorr Packaging show... More
One fifth of global consumers have made an in-store mobile payment as China leads the way
Nearly one fifth of global consumers (18%) have made an in-store mobile payment in the past six months, representing an increase of 10% from the same period in 2014, research released by trade body Mobile Ecosystem Forum (MEF) reveals. Chinese consumers lead the way, with 38% of them having paid with their phone at the point of sale — nearly double the global average. More
One in 10 UK consumers have used mobile payments, survey reveals
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... More
Korean central bank to put small change on cards
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... More
600m mobile devices to include biometrics by 2021
More than 600m mobile devices worldwide will include biometric authentication within the next five years, up from 190m in 2016, with demand for methods that involve less hardware raising the profile of solutions such as voice and facial recognition, a report from Juniper Research says... More
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