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MOBILE COMMERCE

MOBILE COMMERCE GROWING 300% FASTER THAN ECOMMERCE

As growing adoption of smart devices makes shopping for the general population easier through apps, mobile commerce is on track to grow 300% faster than entire ecommerce by 2016. Data researched (more…)

MOBILE COMMERCE

MOBILE COMMERCE GROWING 300% FASTER THAN ECOMMERCE

As growing adoption of smart devices makes shopping for the general population easier through apps, mobile commerce is on track to grow 300% faster than entire ecommerce by 2016. Data researched (more…)

Mobile Payments

  • Mobile payment rivals line up challenge to Alipay December 18, 2015 apple-android-samsung-paySmartphone rivals Apple and Samsung are mounting a challenge to Alibaba’s dominance of China’s emerging mobile payment market, after announcing co-operation deals with Chinese bank card network UnionPay. In twin announcements on Friday, the two companies said they hoped their respective payment systems would be compatible with UnionPay’s 5bn issued cards early next year, subject to regulatory approval – according to the FT. Apple ... Read more
  • Microsoft follows Apple into carrier billing December 11, 2015 Microsoft follows Apple into carrier billingAfter Apple has begun trying out carrier billing, a way of using your phone bill to make purchases. Apple users in Germany and Russia can make purchases through their phone bill on their iTunes account. The tech giant is using those two countries as a testing ground for possibly rolling out to the rest of the world, according to one source close to the ... Read more
  • Walmart enters mobile payments space with Walmart Pay December 10, 2015 Walmart PayOh dear. Walmart has announced that it will get into the mobile payments business with Walmart Pay, the first US retailer to make its own push for consumers to use their smartphones as mobile wallets. The world’s largest retailer announced the launch of Walmart Pay, a proprietary mobile payments system for use in the retail giant’s stores. The app, which is being launched ... Read more
  • Apple launches Carrier Billing in emerging markets December 8, 2015 Apple mobile paymentsLast month Apple turned on carrier billing in iTunes in Germany, allowing consumers to charge things like app payments and music purchases to their mobile account instead of credit or debit cards. Now it was flagged to us that Beeline, a mobile carrier in Russia, quietly turned on the ability to make payments in iTunes through their billing system. iTunes costs have previously only been ... Read more
  • US proximity mobile payments hit $8.71 billion in 2015 December 4, 2015 Mobile banking, business finance and making money concept: modern metal black glossy touchscreen smartphone with personal wallet application and group of color credit cards isolated on white background with reflection effectProximity mobile payments in the US are set to ramp up aggressively. Transaction value will triple in 2016 due to a growing user base, broader merchant acceptance and the greater frequency of consumers using their phones to make point-of-sale payments on medium- and high-priced products. As the barriers to using mobile phones to make point-of-sale proximity payments gradually go by the ... Read more
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Contactless NFC

  • Android Pay launch in app purchasing December 16, 2015 Android Pay markGoogle has revealed a major expansion of its Android Pay system, letting people pay from within apps. Google is updating its mobile payments platform to make it easier for Android users to make in-app purchases. The feature is available now in more than 20 apps. The firm boasted there are also now over 1 million locations across the US that already accept tap and ... Read more
  • China UnionPay launch Quick Pass mobile payment service December 15, 2015 China UnionPay launch Quick Pass mobile payment serviceChina UnionPay, China’s largest payment and clearing network, joined with more than 20 lenders to introduce Quick Pass, a new mobile payment service, in a bid to win back market share from third-party payment leader Alibaba Group’s Alipay affiliate. Using NFC (near-field communication) technology, UnionPay’s service lets users pay for purchases by tapping their smartphones with pre-stored bank card information on a ... Read more
  • Contactless cards breakthrough in Europe December 9, 2015 Number of Contactless Cards in Europe (millions)Contactless cards have finally taken off in Europe with spectacular growth in the number of cards and the volume of payments during 2014. The rollout of contactless cards and adoption of contactless-enabled terminals are set to accelerate in the coming years as new Visa and MasterCard mandates come into force in 2016. According to the study: Global Payment Cards Data and Forecasts ... Read more
  • UK Card expenditure statistics 2015 December 7, 2015 card expenditure statisticsThe value of the average contactless transaction increased in Septembers a result of the increase in the contactless payment limit, the latest card expenditure statistics from The UK Cards Association show. In September, the average contactless transaction was £7.35, up by 23p on the August figure. This coincided with the rollout of the new £30 contactless payment limit. Contactless payments accounted ... Read more
  • Credit Mutuel starts HCE mobile payment pilot in france November 24, 2015 A mobile phone with HCE applications coming out of itCrédit Mutuel ARKEA has partnered with AIRTAG for the launch of an HCE mobile payment solution. The cooperation dates back to June 2014 when Crédit Mutuel ARKEA selected AIRPASS as its HCE mobile payment platform: the solution, provided by AIRTAG, includes a Tokenization Server, a Wallet Management Server, a Mobile Payment Application based on HCE technology and a Crypto Solution to safely ... Read more
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Mobile Banking

  • ING activates contactless mobile payments December 7, 2015 ING activates contactless mobile paymentsING has added contactless mobile payments to its mobile banking app for Android smartphones, rolling out the service to all Dutch customers nationwide following a three-month trial run. The HCE-based mobile payments application can be used to tap-and-pay at more than 100,000 stores throughout the country. Feedback from several thousand customers participating in a pilot programme in September was used to enhance the ... Read more
  • UK m-payments report released October 19, 2015 Have you made mobile payments using your smartphone in the last six monthsTSYS has published its inaugural U.K. M-Payments Consumer research report. The report includes information on key consumer m-payment preferences and provides new insights on a range of related digital engagement topics. TSYS conducted quantitative research of more than 500 UK consumers, covering diverse demographics, including gender, age and income. The respondents were over the age of 18, had at least one ... Read more
  • How the Dridex Malware ring was taken down October 16, 2015 How the Dridex malware ring was taken downThanks to an international law enforcement operation, the ultra-virulent Dridex malware and related botnet have been disrupted as the US’s DOJ targets a Moldovan man in connection with Dridex malware thefts. But what was crucial to the takedown – and for any such future efforts – was the unprecedented level of collaboration among financial services firms around the world, says Andy Chandler, a ... Read more
  • 1bn mobile banking users by end 2015 October 16, 2015 A laptop, mobile phone and tablet with mobile banking apps1 billion mobile phone owners will use their devices for banking purposes by the end of 2015, according to new figures released by Juniper Research. The worldwide user base is forecast to reach 2 billion by 2020, by which time it will represent 37% of the global adult population. This growth in adoption had been particularly aggressive in emerging markets, Juniper explained, leading the ... Read more
  • Visa and MasterCard launch cyber intelligence services October 16, 2015 Cyber securityVisa and FireEye announced the launch of Visa Threat Intelligence, a cyber intelligence service, Powered by FireEye. Tailored to the needs of the payments industry, this new service will deliver real-time threat information to merchants and issuers so they can quickly assess and act on the most critical cyber-attacks that could breach their payment systems. Visa Threat Intelligence is available as part of ... Read more
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Mobile Remittance

  • M-Pesa revenues surge November 10, 2015 M-Pesa logoSafaricom has reported a 24% jump in M-Pesa revenues to KES19.4 billion ($190 million) in H1 2015, as its active user base reached 15.7 million. Interestingly, the operator also revealed a breakdown of its monthly mobile money traffic. Of the KES160.2 billion of real-time payments it carries per month, the biggest chunk of KES107.4 billion is, unsurprisingly, person-to-person (P2P) payments, growing at ... Read more
  • American Express invests in first P2P Bitcoin venture October 26, 2015 An image of an mPOS accepting BitcoinLast week, P2P Bitcoin company Abra, announced that it will soon be available to all registered users in the US and Philippines and will also now offer services enabling merchants to accept digital cash from consumers using its app. Additionally, it added strategic investments to its $12 million Series A round, announced in September, from American Express and Ratan Tata, the chairman emeritus ... Read more
  • MoneyGram collaborate with Econet Wireless October 23, 2015 A POS machine showing a mobile paymentMoneyGram and Econet Wireless, the leading mobile operator in Zimbabwe, announced the launch of a new service that enables customers from more than 200 countries and territories worldwide to transfer funds via EcoCash, Zimbabwe’s leading mobile money transfer solution. The new offering means that more than 4.9 million EcoCash subscribers and MoneyGram customers can  receive funds across the EcoCash network at any ... Read more
  • Kenya issues government bond via mobile money solution September 30, 2015 M-Pesa logoIn a nod to how developed the Kenyan mobile infrastructure, including mobile payments are, the Government plans to float its first-ever Bond, to be offered exclusively via mobile phone – pointing to the growing relevance of mobile money solutions in the payments space. The solution, known as M-Akiba, will be delivered in partnership with Safaricom’s M-PESA to continue a push that seeks to deepen ... Read more
  • Equity continues fight with M-Pesa September 7, 2015 M-Pesa logo As the gloves come off in the battle between Equity and Safaricom, Equity Bank has written to the financial sector regulator protesting Safaricom’s increase of M-Pesa tariffs on transfers made from bank accounts to the money transfer platform. In a letter dated August 28 and addressed to Central Bank Governor Patrick Njoroge, the lender asked for intervention on the tariff changes that ... Read more
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M POS

  • Amazon closes mPOS business November 2, 2015 The Amazon app (Amazon Local Register) in actionAmazon is to close its mPOS business, Local Register, which failed to catch on among the small businesses who were its supposed customers. Amazon Local Register did not gain much traction against more successful rivals, such as Square’s Register and PayPal’s Here services. The service enabled retailers to accept credit or debit card payments on smartphones and tablets with the addition of a dongle. The internet ... Read more
  • Square plans IPO in Q4 September 11, 2015 Is Square for sale?Square is reported to have plans to hold its initial public offering in Q4 2015, according to sources. Square is continuing with plans for its IPO even as Twitter’s board is considering whether Jack Dorsey, its founder, will remain CEO of the social media company. Dorsey is the top internal candidate for the role, but has also been reassuring investors and key employees ... Read more
  • Global mPOS installed base to quadruple to 54 million units July 30, 2015 Global mPoS installed base to quadruple to 54 million unitsMobile point of sale (mPOS) growth continues as the technology deepens its reach across vertical industries, merchant tiers and geographies. 451 Research projects the global mPOS installed base will grow from 13.3 million units today to 54.03 million units in 2019. Diverse factors including enterprise deployments, expansion into new vertical industries and financial inclusion in developing economies will serve to increase ... Read more
  • Square files “confidential” IPO July 27, 2015 The Square EMV chip card readerSquare is rumoured to have filed an IPO, a person familiar with the matter said. Square filed its prospectus under the Jumpstart Our Business Startups Act, which permits companies with under $1 billion in annual revenue to file their IPO paperwork confidentially, the person said. Square’s IPO could test the market for tech offerings, which has been quiet as more companies raise large ... Read more
  • How to ace mPOS functional and security testing July 20, 2015 A phone with a Verifone Chip and PIN reader attachedThe explosion of mobile point-of-sale (mPOS) technology has seen a host of new players enter the market, each seeking to carve out a place in a global market predicted to grow by 40% every year until 2018 (Smart Insights). Before an mPOS terminal product can be launched, however, manufacturers must first prove that it is fit-for-purpose, or risk the long delays and ... Read more
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Analysis

  • Worldwide smartphone market December 7, 2015 Worldwide Smartphone Forecast by OS – Shipments, Market Share , Year-Over-Year Growth, and 5- Year CAGRAccording to a new forecast from the International Data Corporation (IDC ) Worldwide Quarterly Mobile Phone Tracker, 2015 will be the first full year of single-digit worldwide smartphone growth. IDC predicts worldwide smartphone shipments will grow 9.8% in 2015 to a total of 1.43 billion units. IDC updated its previous forecast to reflect slowing growth in Asia/Pacific (excluding Japan), Latin America, ... Read more
  • Alternative payment to tackle card payments head on November 25, 2015 Which payment method will become most popular in the futureIn  a new report from Worldpay it is predicted that the alternative payment market will leave its growing pains behind in 2016. 2016 will herald “the third age of digital payments” now that eWallets are growing in popularity, NFC offerings from technology vendors like Apple, Samsung, and Google are fighting for mass appeal, and both banks and brands are rolling out their own mobile ... Read more
  • Fintech companies most worried about regulatory impact November 20, 2015 FintechA survey conducted by Silicon Valley Bank (SVB) among fintech startups and investors in the industry has revealed that the biggest challenge they see for the near future are regulatory hurdles, the bank said in a press release. Mistrust of Technology Also an Issue As many as 43 percent of the 101 respondents surveyed during SVB’s Fintech Mashup event said that regulatory changes were the ... Read more
  • The State of FinTech in 2015 November 19, 2015 Contribution to UK Fintech in BillionsThe term FinTech has come to dominate the headlines of all industry magazines but also the mainstream press. London in particular has made enormous strides in the last year or so and has now surpassed silicon valley in terms of total dollars invested into FinTech. The Infograph below explores the current state of FinTech: Read more
  • How consumers rate finance apps November 11, 2015 Finance AppsPeople are obsessed with money. In 2015, people are also obsessed with their smartphones and tablets. It is natural that apps that help people bank, manage their money, make payments and find financial information would be popular in the apps stores. Thousands of apps help people keep track of their money. But which finance apps are the best? ARC from Applause ... Read more
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Opinions

  • Mobile Wallets: The New Fraud Frontier November 12, 2015 A smartphone walletMobile wallets are enjoying increasing adoption. Payments made via mobile devices in the United States are expected to total $90 billion by 2017, a big jump from the $12.8 billion spent in 2012, according to Forrester Research. There are two different types of mobile payments. The first type works through contactless technologies such as Near Field Communication (NFC) built into mobile phones. ... Read more
  • A world without banks as we know them? October 19, 2015 Saxo PaymentsHistorically, banks have dominated the entire market, but times are changing and the FinTech invaders are beginning to disrupt the space. Banks certainly have their place, but their share is undoubtedly being challenged. It may seem odd for the man who has pioneered a non-bank community-based payment model to admit, but I strongly believe that banks will be an important part of ... Read more
  • Success in the mobile payment space October 9, 2015 Mobile banking, business finance and making money concept: modern metal black glossy touchscreen smartphone with personal wallet application and group of color credit cards isolated on white background with reflection effectDespite significant developments, especially in developed markets, no clear model or winner has been established yet for mobile payment. Hence, all players are still in a position to participate, as we believe the market will structure around global as well as local initiatives. There is an urgent call for all players to position and go to market with convincing strategies ... Read more
  • Are fingerprints the new passwords? August 18, 2015 A fingerprint payment systemEver since Apple introduced TouchID for iPhones, more and more smartphones feature fingerprint scanners. And that has some security researchers worried. “If you leak a password, you can just change it; if you leak a fingerprint, it’s lost for your whole life,” FireEye researcher Yulong Zhang said at a presentation at the Black Hat USA conference in Las Vegas last week. Zhang was part ... Read more
  • Bitcoin: The stats so far July 9, 2015 BitcoinHas Bitcoin, the universal crypto currency, finally gone mainstream? Read more
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Vendor Zone

  • Bell ID certified for HCE by payment schemes September 30, 2015 A mobile phone with HCE applications coming out of itMobile payments specialist, Bell ID, says that its host card emulation (HCE) mobile solution has been certified by three of the largest global payments schemes. Bell ID is the first vendor to receive approval from three schemes for its HCE platform, offering its customers the broadest range of options available on the market today. The HCE specialist’s software manages the lifecycle of virtual cards, ... Read more
  • Global smartphone shipments increase 11.6% July 24, 2015 Global smartphone shipments increase 11.6%Global smartphone shipments rose 11.6% year-on-year in the second quarter to 337.2 million, according to market researcher IDC. This is the second highest quarterly total on record, with growth sustained after a strong Q1 by robust demand in many emerging markets. IDC said more affordable smartphones, often from local vendors, were driving the growth in the market, rather than the premium ... Read more
  • MyCheck partners with Apple Pay July 14, 2015 Apple Pay Logo against a contactless acceptance markMyCheck is to support Apple Pay in the UK. MyCheck’s restaurant clients can now take advantage of this breakthrough technology and allow their customers to settle the bill using Apple Pay, the easy, secure and private way to pay. When using Apple Pay with MyCheck, a customer can authorise a transaction through a restaurant’s native iOS app or via one of MyCheck’s partner apps ... Read more
  • Microsoft forced into uncomfortable u-turn on Nokia July 9, 2015 Nokia GunThe acquisition of Nokia by Microsoft was supposed to unleash a new powerhouse in mobile handsets. Unfortunately, as Tom O’Meara writes, The longer time goes on the more ludicrous Microsoft’s decision to buy Nokia looks. Far from creating the mobile phone powerhouse the two envisaged, the mobile unit is simply a mess. Microsoft is now writing down about $7.6bn on the Nokia division and ... Read more
  • G&D receives Visa certification for HCE July 9, 2015 A mobile phone with HCE applications coming out of itGiesecke & Devrient (G&D) has been certified “Visa Ready” by Visa for HCE (Host Card Emulation) cloud based payment services. With the Visa Ready status, Visa ensures that technology and service providers develop and deploy products and services that are compatible with Visa’s requirements. G&D’s data center in Canada has received Visa Ready certification as a provider for cloud based payment services.   “Meeting ... Read more
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