Category Archives: Analysis

Global Mobile Payments Index Q2 2014: UK Ahead of Rest of World

Adyen announced findings from its latest global Mobile Payments Index covering the period of April through June 2014.  During this period, on average mobile web payments accounted for almost 22% of all transactions on Adyen’s network worldwide. This represents a 9% increase over Q1 and a 33% increase over June 2013.  Looking specifically at the UK, mobile payments stand at ...
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Contrasting HCE and SIM secure element approaches to NFC payments

Digital payments experts Consult Hyperion, in conjunction with the GSMA, have published a guide to help banks and mobile operators understand the Host Card Emulation (HCE) and SIM Secure Element approaches for NFC payments. The guide, “HCE and SIM Secure Element: It’s not Black and White”, follows the recent introduction of HCE into Android 4.4 (KitKat) and concludes that the ...
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EcoCash mobile money transfer exceeds $4 billion

Econet Wireless’ mobile money transfer service EcoCash has handled over $4 billion since inception in 2011. Group chief executive Douglas Mboweni told Parliament during a familiarisation tour of the mobile phone company’s operations yesterday that EcoCash service now boasts 3.5 million mobile money transfer accounts. The number of people impacted by the EcoCash service represents roughly 53% of the adult ...
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Royal Canadian Mint axes digital currency MintChip

Just three months after announcing its Bitcoin rival MintChip, The Royal Canadian Mint has shut its cloud-based digital currency and is looking to offload the business. The Mint unveiled plans for MintChip in 2012, promising to bring the benefits of cash into the digital age, providing users with instant, private, secure, and fee-free access to their money. The system would ...
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Mobile payments and fraud survey

While the mobile channel grows in importance and revenue for merchants, so does their fear of fraudulent attacks and the realization that combating that risk requires specialized tools. Those are some of the key findings from the 2nd Annual Mobile Payments and Fraud Survey. The 2014 Survey, conducted by Kount, The Fraud Practice and CardNotPresent.com, is the biggest survey ever undertaken focused ...
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50% of one-time passwords fail to arrive

New global research by the Ponemon Institute, sponsored by mobile interaction service provider tyntec, has revealed that on average almost 50% of one-time passwords (OTPs) fail to arrive due to invalid mobile numbers provided by end-users. For the report titled ‘Unlocking the Security Potential: The Key to Effective Two-Factor Authentication’ the Ponemon Institute surveyed more than 1,800 IT and IT ...
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Mobile payment index reveals mobile payments climb to 19.5% of transactions globally

Adyen has delivered findings from its third Mobile Payments Index covering the period September to December 2013. The Index shows mobile payments accounted for 19.5% of all transactions worldwide in December, a growth of 55% year-over-year, up from 12.6% the previous December. New to this Index, Adyen has pulled out data showing not only the volume of transactions made per ...
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Strategic mobile wallet options for Banks – Analysis

In a sensibly positioned White paper, The Mobey Forum argues that the utilisation of mobile technology is permanently changing consumer spending habits, disrupting previously-exclusive relationships between banks and their customers worldwide. If banks and financial institutions are to advance their commercial interests and remain competitive in the mobile age, they need to act now to formulate a sustainable mobile wallet ...
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UK more open to mobile wallets than US

New research carried out by Consult Hyperion suggests a majority of UK consumers would use mobile wallets. This 58% figure in favour is in contrast with the 64% of US consumers who say they would never use a mobile wallet. Consumers were asked who they would trust most to issue a mobile wallet: banks, telcos, Google or major retailers, with ...
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Cyber security – why mobile transactions pose high risk

As National Cyber Security Awareness Month continues, new data from the Global Trust Intelligence Network (The Network) confirms the growing use of mobile devices for banking and online shopping. Of more than 500 million monthly transactions, The Network finds 26% initiate from mobile devices and more than a third of mobile transactions are for online banking purposes. “Mobile transactions are ...
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