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Tyfone Inc. this week launched what appears to be the first solution from a third-party vendor that allows any consumer with a mobile device to enroll in, and then use, mobile banking directly from a handset. The new product, which also features integration with Tyfone’s near-field communication (NFC) platform for …
Read More »How POS Cash Back on Debit Is Crimping ATM Transaction Growth
U.S. debit card holders received cash back on just over 1 billion point-of-sale purchases in 2009, according to new figures from the Federal Reserve. That statistical nugget and others in the Fed’s 2010 Payments Study help to explain why ATM operators are struggling to keep transaction volumes up. The Fed …
Read More »Demographics, Transit Helped Drive Salt Lake Selection, Isis Says
Local demographics and the availability of a mass-transit system that uses contactless technology for fare payment chiefly accounted for the decision by Isis, the joint venture formed late last year and led by major wireless carriers, to launch its first pilot next year in Salt Lake City, Utah, Isis’s head …
Read More »Consumers Nearly Carefree When It Comes to Smart-Phone Security
With much of the payments industry and Silicon Valley tech press in a speculative frenzy about what Google Inc., Apple Inc., and Facebook Inc. might or might not do regarding mobile payments, a new study has come along indicating that consumers are complacent, arguably extremely complacent, about protecting personal and …
Read More »Relax, Banks. Google Just Wants NFC for Its Advertising Potential, Experts Say
A mobile-payments system from Google Inc. may strengthen the search giant’s hand in marketing but will pose little threat to established payments networks, according to experts contacted by Digital Transactions News. The Google venture, more news of which emerged this week, has surprised some observers because it includes MasterCard Inc. …
Read More »Fiserv Deals Propel It Deeper into Mobile Products And Prepaid
Banking processor Fiserv Inc. announced a trio of acquisitions in a 24-hour period that included picking up Atlanta-based mobile-banking technology provider Mobile Commerce Ltd., known as M-Com. Brookfield, Wis.-based Fiserv also announced it is acquiring Maverick Network Solutions Inc., a Wilmington, Del.-based prepaid card processor, and Credit Union On-Line Inc., …
Read More »How Parking Payments Are Going High-Tech
The prospect of combining on one contactless card payments for parking and transit fares would seem like a winner for hundreds of thousands of commuters who drive each morning to transit parking lots and then hop on a train or bus to the office. That was one idea floated last …
Read More »Android’s Popularity Could Boost New NFC Smart Phone Software
The rocketing popularity of Google Inc.’s Android operating system for smart phones could also propel near-field communication (NFC) technology for mobile financial services now that NXP Semiconductor and Giesecke & Devrient have introduced NFC software for Android phones. The open-source code, announced this week at a major telecom conference in …
Read More »With Signed Merchants Onboard, Isis Looks at Transit, Fast Food, Groceries
The new Isis mobile-payments venture has recruited some merchants as it builds the acceptance side of its network, the Isis executive overseeing the merchant effort said on Wednesday. “We do have signed merchants at this point,” Jim Stapleton, head of sales and account management at Isis and a veteran of …
Read More »New York’s Open-Fare Transit Plan Starts Down the Development Path
After about four years of testing, the New York City area’s Metropolitan Transportation Authority is beginning the process of building a fare-payment system based on general-purpose contactless cards. MTA officials tell Digital Transactions News that they plan to publish a so-called Concept of Operations, a document outlining the agency’s broad …
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