Xoom, PayPal Holdings Inc.’s international money-transfer service, said it has a pact with processor TransNetwork Corp. through which it will add 17,000 more cash pick-up locations in Mexico at Oxxo, the country’s largest convenience-store chain. Xoom said it is the first online-only remittance provider to partner with Oxxo. In related …
Read More »Badran Exits As President of Alipay U.S. As Alipay Enjoys a Booming Summer Overseas
July and August are big vacation months in China, and this year Chinese travelers’ use of the Alipay mobile-payment service boomed as users ventured abroad, according to figures released Wednesday. In related news, China’s Ant Financial Services Group confirmed on Wednesday that Souheil Badran, who had headed up Alipay’s expansion …
Read More »Fingerprint Scanning Will Have to Move Over for Facial And Voice ID, Research Says
With mobile-payments volume increasing while confidence in passwords slumps, researchers are predicting big growth for mobile authentication via biometric technology such as facial or voice recognition. In one forecast, from the United Kingdom-based firm Juniper Research, the number of mobile users authenticating themselves by such technology will grow over the …
Read More »First It Was Trading Through Cash App. Now Square Patents a Network for Crypto Acceptance
The business of getting merchants to accept cryptocurrencies like Bitcoin has started to attract independent sales organizations and payments-tech firms alike, and now Square Inc. has jumped in with a proposed service that some experts say could help the payments-technology powerhouse grab a share of online volume. The U.S. Patent …
Read More »An Activist Social Network Alleges PayPal Is Still Processing for Supremacist Groups
Reacting to violent clashes a year ago in Charlottesville, Va., between white supremacist groups and counter demonstrators, several major payment systems shut down access for supremacist organizations that used the systems to process donations. But now a social network devoted to activist causes says PayPal Holdings Inc. is still processing …
Read More »Google Exec: Google Pay Represents More Than a Rebranding
To outsiders, Google’s mobile-payment services have experienced a few identity crises along the way. But the service now known as Google Pay represents much more than a rebranding, according to Jack Connors, the executive who heads commerce and merchant partnerships at Google, the primary subsidiary of Mountain View, Calif.-based Alphabet …
Read More »Payments Incumbents Can’t Rest on Their Laurels, Researchers Say
Payment-industry incumbents, particularly the global credit card networks and their allied banks and processors, can’t rest on their laurels lest fast-growing mobile and non-card payment systems in much of the world leave them in the dust. That was the conclusion of payments researchers Friday who spoke at the Mobile Payments …
Read More »Consumers Keep More Money in Their PayPal Accounts Than Cash in Their Wallets, a Study Finds
U.S. consumers are apt to have more money—$485 on average—in their PayPal Holdings Inc. accounts than cash in their wallet, $196, finds the Future of Money Study from Logica Research. San Francisco-based Logica Research, formerly Koski Research Inc., also found that 58% of Americans have a PayPal account. A number of …
Read More »At Its Three-Year Mark, Samsung Pay Cites 2,000 Partners And a Billion-Plus Payments
Samsung Pay launched in South Korea three years ago Monday, and on Tuesday Samsung Electronics Co. Ltd. marked the anniversary by releasing some numbers for the mobile-payments platform. Widely known as one of three “Pays” that rely on near-field communication technology for in-store transactions (Apple Pay and Google Pay are …
Read More »Warehouse Retailer Costco Is Now Accepting ‘The Pays’
Notoriously picky about which payment forms it accepts, Costco Wholesale Corp. is now accepting Apple Pay, Google Pay, and Samsung Pay in its U.S. stores. With 519 locations, Issaquah, Wash.-based Costco is the nation’s third-largest brick-and-mortar retailer, according to the National Retail Federation. In its warehouse-like stores, it accepts debit …
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