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The newness of mobile payments likely was a contributing factor to Amazon.com Inc.’s decision this week to pull the plug on its six-month-old Amazon Wallet. That’s the theory suggested by Brian Kilcourse, managing partner at RSR Research LLC, a Miami-based retail advisory firm. Amazon.com launched Amazon Wallet in July, selling …
Read More »Banks and Credit Unions Continue To Sign Up for Apple Pay
The number of banks and credit unions that support Apple Pay, Apple Inc.’s mobile payment scheme, continues to grow with the First National Bank of Pennsylvania among the latest to join the list. The bank, a unit of Pittsburgh-based F.N.B. Corp., says its debit card users now can use the …
Read More »Eye on Apple: Watch’s PIN Protection; Grocer Adds Apple Pay at Checkout
Apple Inc.’s much anticipated Watch, which includes a near-field communication (NFC) chip for making contactless payments, will be protected by a four-digit PIN, reports Australian Web site CSO. Apple Watch users will need to enter the passcode to use Apple Pay on the watch, the site says. It remains unclear …
Read More »With ‘Smart Band,’ Wirecard Combines Wearables With Host Card Emulation
The number of anticipated wearable devices that can be used as payment devices has increased by one with the debut of the Wirecard Smart Band from processor Wirecard AG. Munich, Germany-based Wirecard is using host card emulation, a variant of near-field communication, in its devices. With HCE, banks and other …
Read More »Hard Times at Softcard: Mobile-Payments Venture Lays Off 60 Employees
Softcard, the mobile-payments venture of Verizon Wireless, AT&T Mobility and T-Mobile USA, has laid of 60 employees in a restructuring, according to media reports. The layoffs raise questions about the future of Softcard, formerly known as Isis, which has had trouble gaining consumer and merchant acceptance for its near-field communication-based …
Read More »COMMENTARY: How 2015 Could Be a Watershed Year for Digital Banking
According to the 2014 World Retail Banking Report from Capgemini and Efma, less than 40% (a decrease from 41.6% in 2013 to 39.5% in 2014) of customers globally reported having positive customer experiences with their bank. The main reason for this dissatisfaction is the bank’s failure to develop a comprehensive …
Read More »New York City Seeks Ideas About Paying Parking Violations Through Mobile Devices
Mobile payments in New York City soon could get access to a large amount of raw material for transactions if a proposal by the city’s Department of Finance becomes reality. The DoF recently issued a request for information (RFI) from vendors about developing a mobile-payments system for paying parking violations. …
Read More »Forgot About HCE? RBC Puts It Front And Center Again With Its Latest Pilot
Remember host card emulation? You might have lost sight of this variant of mobile payments based on near-field communication amid the flood of publicity Apple Inc.’s SIM-based Apple Pay service generated this fall. But HCE never went away, and now Royal Bank of Canada is making a bid to put …
Read More »CorFire Acquisition Bolsters Mozido’s M-Commerce Presence at Home and Abroad
Mobile-payments platform developer Mozido Inc. expanded its footprint in the budding industry sector with its announcement Thursday that it acquired a majority interest in CorFire, a U.S. m-commerce subsidiary of South Korea-based information-technology provider SK C&C. Mozido already provides the MoTeaf white-label payments platform as well as various person-to-person, bill-payment, …
Read More »Digital Card Device WocketWallet Shipping by the End of the Year
Consumers looking for a way to transform their credit, debit, and loyalty cards into electronic versions soon will have a new option with the impending shipment of the WocketWallet. Developed by Shelton, Conn.-based Nxt-ID Inc., Wocket enables consumers to scan information from their payment cards, and other commerce cards, …
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