Digital Transactions Authoritative, insightful and timely information for payments professionals
Data Insecurity Part 8 Few payment innovations have produced the stark schizophrenia that we are experiencing with mobile commerce. Normally somber business types are rubbing their hands together at the prospects of reaching consumers on a one-to-one basis, online, all the time, anywhere they happen to be. Meanwhile, typically apprehensive …
Read More »Cellular South Looks to Roll out First Commercial U.S. NFC Service
Cellular South expects to launch some time in the first quarter what would almost certainly be the first commercial application of near-field communication (NFC) technology for point-of-sale payment, and also the first driven by a wireless carrier rather than a payment network. The plan follows a three-month, two-city pilot in …
Read More »Advice for M-Payments Entrepreneurs: Aim at the Underbanked
For the raft of processors either moving into mobile payments or hammering out business plans to make an entry, the top executive with one company that has been in the market for six years has some advice: Focus on the market made up of people who lack bank accounts, and …
Read More »BancorpSouth out to Show Smaller Banks Can Succeed in M-Banking
At a time when companies as big and diverse as Google Inc., eBay Inc.'s PayPal, the bank card networks and others are all moving into mobile banking and payments, a regional bank in Mississippi has emerged as one of the more experienced players in the embryonic market. Tupelo-based BancorpSouth Inc. …
Read More »M-Banking Will Beget M-Payments, But Not Without Labor Pains
Though still in its infancy, mobile banking will balloon from 1.68 million to 34.9 million users over the next four years, laying the groundwork for mobile payment channels such as physical-world transactions via near-field communication (NFC) and mobile commerce, a new report argues. Already, report author Nick Holland, a senior …
Read More »Google: Don’t Read Too Much into Our M-Payment Patent Application
Despite the frenzy of media speculation it unleashed over the Labor Day holiday weekend, Google Inc.'s application for a patent covering mobile payments draws little comment from the Mountain View, Calif.-based search giant beyond a cautionary note that the mobile service may not progress beyond the drawing board. “We file …
Read More »Diebold Sees Early Interest in Technology Linking Handsets to ATMs
New mobile-transaction technology developed by ATM maker Diebold Inc. is already attracting interest in the marketplace and promises to change not only the way consumers interact with ATMs but also how they pay merchants and each other. The North Canton, Ohio-based company announced earlier this week it had received five …
Read More »How a Data-Security Debate Is Holding Back NFC Payments
Tussles between vendors and financial institutions over data security are slowing down progress in contactless payment based on mobile phones, a research firm contends. While MasterCard Worldwide, Visa USA, and major banks like JPMorgan Chase & Co. and Citigroup Inc. have launched trials of handset-based contactless payment in the U.S. …
Read More »More Contactless Taxis with MasterCard-VeriFone Projects
MasterCard Worldwide announced on Thursday that taxis in New York City are accepting contactless cards in a program that will include 5,000 vehicles by December. The bank card network also said a so-far undetermined number of Las Vegas cabs will take place in a contactless pilot in Las Vegas that …
Read More »Deal with First Data, Star Gives Big Boost to M-Banking Startup
Extending its reach into emerging mobile-banking and payments markets, First Data Corp. on Thursday announced an agreement with mFoundry Inc. under which the leading payment processor will offer mFoundry services to the thousands of bank and credit-union members of First Data's Star electronic-funds transfer network. The First Data agreement marks …
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