Apple, Goldman Sachs team up on credit card paired with iPhone — The Wall Street Journal — “The card will be rolled out to employees for testing in the next few weeks and officially launch later this year, according to people familiar with the matter. The companies hope to lure cardholders by offering them extra features on Apple’s Wallet app, which will let them set spending goals, track their rewards and manage their balances, the people said.”
Amazon Pay accepted here? Web giant aims to put digital wallet in stores — The Wall Street Journal — “Amazon.com Inc is gearing up to challenge Apple Inc in the mobile payments race. The e-commerce giant is working to persuade brick-and-mortar merchants to accept its Amazon Pay digital wallet, according to people familiar with the matter, attempting to expand a service now used primarily for purchases online.”
Apple has issued an apology to Chinese customers who were victims of a phishing scam that saw some Alipay and WeChat Pay customers lose funds stored in their mobile wallets... More
Visa, Mastercard push for one-click ordering. Retailers say ‘not so fast’ — The Wall Street Journal — “Representatives of large retailers including Walmart Inc and Home Depot Inc met with federal regulators this week to raise concerns about a new online payment initiative that Visa Inc and Mastercard Inc are preparing to roll out… Retailers’ main concern with combining the buttons is that merchants won’t be able to route their debit card transactions to lower-cost networks.”
Goldman Sachs, Apple team up on new credit card — Wall Street Journal — “Apple Inc and Goldman Sachs Group Inc are preparing to launch a new joint credit card, a move that would deepen the technology giant’s push into its customers’ wallets and mark the Wall Street firm’s first foray into plastic. The planned card would carry the Apple Pay brand and could launch early next year.”
Jack Ma’s Ant Financial to raise $9bn, become world’s biggest unicorn — Wall Street Journal — “Chinese billionaire Jack Ma’s financial technology business is about to vault into the ranks of the world’s most valuable companies. Ant Financial Services Group, carved out of his e-commerce giant Alibaba Group Holding Ltd seven years ago, is preparing to raise US$9bn in a private funding round, according to people familiar with the matter. That ups a previous fundraising target of US$5bn.”
PayPal makes a move toward traditional banking — Wall Street Journal — “The San Jose, Calif-based payments company has been quietly reaching out to groups of customers in recent months with an offer to add basic banking features to their PayPal digital wallet. The features include Federal Deposit Insurance Corp insurance for their balances, a debit card that can be used to withdraw cash at ATMs and the ability to direct-deposit their paychecks.”
iPhone users are pestered to enroll in Apple Pay — Wall Street Journal — “Apple Inc is nagging iPhone users to enroll in its mobile payment service with a persistent red-circle badge. The strategy has worked with some, but is irritating others who say it is heavy-handed and exploits the tech giant’s clout in ways that could disadvantage rivals… Users who opt not to input credit card information for Apple Pay when setting up their phones now constantly see the red circle over their settings icon.”
Are you ready for an Amazon-branded checking account? — Wall Street Journal — “Amazon.com Inc is in talks with big banks including JPMorgan Chase about building a checking-account-like product the e-commerce giant could offer its customers, according to people familiar with the matter… Converting its shoppers into financial account holders could also aid Amazon as it ramps up its efforts in payments… The company is now trying to bring Amazon Pay to brick-and-mortar stores, according to people familiar with those plans. It is likely to begin with Whole Foods, which Amazon bought last year for roughly US$13.5bn.”
India’s top payment app has eyes on US market — Wall Street Journal — “India’s largest mobile payment app — backed by the likes of China’s Alibaba Group Holding Ltd and Japan’s SoftBank Group Corp — has its eye on the US, its founder said. Speaking at The Wall Street Journal’s D.Live Singapore event, Paytm founder and chief executive Vijay Shekhar Sharma said his aim is to expand into developed markets, also including Japan and Europe.”
Consumers with Amazon Echo or Google Home could use the virtual assistant devices to make or receive phone calls later this year, the Wall Street Journal reports... More
Samsung is considering adding a dedicated button for an improved artificial intelligence feature for its next flagship smartphone, the Wall Street Journal reports... More
Early Warning’s bank-led digital payments network ClearXChange is set to change its name to Zelle... More
Alipay customers will soon be able to make mobile payments at Ingenico point of sale terminals across Europe, according to the Wall Street Journal... More
US supermarket chain Kroger has filed a lawsuit against Visa for allowing customers to verify EMV purchases with a signature instead of a PIN... More
Amazon is to announce that it is adding “dozens of new brands” to its Dash push-button ordering devices despite “evidence that consumers are cool to them”, The Wall Street Journal reports... More
Handset maker Huawei has partnered with bank card association China UnionPay for the roll out of Huawei Pay, an NFC-based mobile payment service that makes use of tokenization technology and is expected to be available on a wide range of Huawei handsets. More
Luxury watchmaker Swatch will focus its smartwatch activities on its plastic Swatch brand before considering the technology for its pricier models... More
Alipay parent Ant Financial is planning to raise up to 20bn yuan (US$3.1bn) in its current funding round at a valuation of more than $50bn, according to The Wall Street Journal... More
Apple is planning to launch Apple Pay in China by 8 February 2016, according to the Wall Street Journal... More
Feed for stories about Wall Street Journal.