Mobile Wallets

In a major win in the expanding market for digital payments for mass transit, Elavon Inc. said it will support contactless payments for the Southeastern Pennsylvania Transportation Authority, the seventh largest U.S. transit system with 45.6 million riders per year, according to the American Public Transportation Association. The new service, …

Toast Inc., a provider of pay-at-table payments devices for the hospitality market, reported data derived from 112,000 restaurant locations in its Q1 2024 Restaurant Trends Report. Among the results: Tipping is most generous in Delaware, where it averages 22.1% of the bill. Mastercard Inc. said it is integrating Deposit Switch and …

Visa Inc. says the 10 billion tokens it’s issued since 2014 are just the tipping point, as it expects Visa’s tokenized transactions to grow exponentially over the next several years. Visa announced the 10-billion milestone Tuesday. As of April, 29% of all transactions processed by Visa used tokens. Tokenization uses …

Eved LLC, a provider of payment management solutions for the entertainment and media industry, late Thursday launched a prepaid business-to-business card for production companies. The Visa-branded card, called EvedPay, will enable entertainment, media and production companies to load predetermined dollar amounts onto the business-to-business prepaid cards to manage spending limits …

Personalized financial-management tools and digital assistants will provide the pathway for banks and card issuers to differentiate their mobile apps or Web sites from those of competitors and drive adoption and usage, according to a new report from J.D. Power. The best opportunities for card issuers will come from offering …

Almost two-thirds of U.S. consumers prefer to pay bills manually rather than through automated services, according to a survey by payments platform MX Technologies Inc. The online research embraced 1,059 adults and was conducted during the first quarter. Embedded payments startup Forward closed a $16 million seed financing round led by Commerce Ventures, Elefund, …

The onset of the covid pandemic spurred deployers and developers to bring contactless technology to the ATM, and now industry organizations are offering guidelines on the matter as deployers look to widen acceptance of contactless cards and mobile devices. Calling contactless technology “table stakes” for most consumers, the Redwood City, …

Despite the growing popularity of digital wallets, the vast majority of consumers prefer to pay with their debit card at the point of sale, according to research from J.D. Power. Some 72% of consumers surveyed by Power physically use their debit card at the point of sale or enter their …

Tap-to-pay technology for ordinary smart phones is a relatively recent development, but payments companies aren’t wasting any time offering it as it spreads into new countries. The latest example comes from Canada, which became the latest market expansion Thursday for Apple Inc.’s tap to pay on iPhone technology. The first …

Mastercard Inc. outlined how it uses generative artificial intelligence to counter fraud, such as when criminals place part of a 16-digit card number on an illegal Web site. Mastercard said it is better able to predict the full card detail of these compromised cards on its network, enabling them to be …