The blockchain, mobile commerce, fraud, data breaches, and authentication were all hot payments topics in 2017. Expect that to continue into 2018 if the prognostications from several payments executives hold true. Much of their outlook centers on identity and authentication, especially as data breaches, large and small, continue to wreak …
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Target Launches Wallet, Its RedCard-Based In-App Mobile-Payments Service
Target Brands Inc. finally unveiled its long-rumored mobile-payments service. Announced Monday, Wallet resides in the Target app for iOS and Android devices. Consumers can only enroll a Target RedCard, available as a debit or credit card, in the app. Target gift card enrollment is coming, too, the company says. To …
Read More »Canada’s Interac Eases P2P Payments And Teams With Samsung Pay for Mobile Debit
Interac, Canada’s debit network, has made it easier to digitally send money direct to another bank account through its e-Transfer service by eliminating the need for recipients to answer a security question each time a transfer is made. Answering a security question validates the recipient to whom the money is …
Read More »U.S. Consumers’ Coolness to Mobile Spurs Payments Execs to Ponder Causes
Mobile payments in the United States haven’t grown as fast as program sponsors had thought they would, and now the industry is looking at what the reasons might be. After all, the payment method is positioned to consumers as a faster, easier, more secure alternative to cards, and one that …
Read More »Payments Professionals Diagnose What Ails Mobile Wallets
There wasn’t a Regular Joe in the room, but that didn’t stop a panel of payments professionals Tuesday from probing the consumer psyche to discern why mobile wallets aren’t more popular. As a percentage of point-of-sale transactions, most experts agree that the major general-purpose mobile wallets—Apple Pay, Android Pay, and …
Read More »Mobile-Wallet Payments Topped 1 Billion by End of 2015, Latest Fed Data Show
Mobile-wallet transactions in the United States grew 333% from 2012 through 2015, albeit on a relatively small base, according to data released Friday by the Federal Reserve. Wallets generated 1.3 billion payments in 2015, the Fed data show, versus 300 million transactions three years earlier. That robust rate of growth …
Read More »Mobile-Payments Tech Provider iZettle Raises $63 Million and Appoints New CFO
By Jim Daly @DTPaymentNews Stockholm-based mobile-payments technology provider iZettle AB, which operates in Europe and Latin America, reported Wednesday that it raised €60 million ($63 million) in a new funding round in which an affiliate of Chicago-based Victory Park Capital participated. The financing consists of equity from existing investors in …
Read More »Mobile In-Store Payments Poised for Growth and other Digital Transactions News briefs
• Mobile in-store payments will total $91.7 billion by 2020, up from $18.7 billion this year, according to a report from Javelin Strategy & Research. Browser-based and in-app mobile payments, however, will dwarf that number, reaching $318.8 billion, nearly doubling 2016’s $161.3 billion. • Movie-ticketing platform Atom Tickets will integrate JPMorgan Chase & …
Read More »Mobile ID Verification for Account Opening and Payments
In today’s mobile first world, acquiring customers seamlessly and allowing them to securely transact in the mobile channel is key for any organization looking to win and retain customers. Additionally, the shift to mobile has fraud skyrocketing, while at the same time financial institutions and payments providers are facing ever …
Read More »For All the Talk About M-Payments at the POS, Mobile P2P Payments Are Growing Faster
By Kevin Woodward @DTPaymentNews More U.S consumers are using mobile peer-to-peer payments than are using a smart phone to make a point-of-sale purchase, research firm eMarketer Inc. says in a research note. While only 19.4% of consumers made a mobile payment in a store in the preceding six months, 24.9% …
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