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, …

Though the Apple Pay service has drawbacks, Apple’s legendary marketing chops will probably, at long last, let wallets cash in. What hath Apple wrought? At a hugely hyped event Sept. 9 near its headquarters in Cupertino, Calif., Apple Inc. unveiled the next iteration of its iconic iPhone—the iPhone 6 and …

  The Merchant Customer Exchange, a retailer-controlled mobile payment scheme, has given its service a name. Dubbed CurrentC, the service will not be available outside of testing until 2015. First announced in 2012, the long-gestating scheme aims to give participating retailers their own mobile-wallet service that eschews the traditional payment …

The conversion of U.S. magnetic-stripe credit and debit cards to the Europay-MasterCard-Visa (EMV) chip card standard is about to shift into high gear, and the payments forecasters are busier than their counterparts at The Weather Channel just before a hurricane’s landfall. The EMV Migration Forum, an affiliate of the Princeton …

The technology to deposit checks into prepaid cards or mobile wallets using a smart phone is less than two years old, but already the channel is proving to be 33 times more prone to fraud than mobile deposits into bank accounts, according to data from Fidelity National Information Services Inc. …

A Look Back And a Provocative Look Ahead Welcome to an anniversary party— one played out not in a ballroom or country-club drawing room but in pages of cold print. The milestone we are marking is our 10th anniversary of publishing Digital Transactions, an enterprise we rather immodestly think of …

  Google Inc.’s apparent decision to abandon its plan to launch a plastic card as part of its Google Wallet service is yet another sign of how major mobile-wallet players from outside the payments business are struggling to find a winning strategy, sources tell Digital Transactions News. News of the …

  MasterCard Inc. chief executive Ajay Banga on Wednesday downplayed the company’s controversial digital-wallet fee and said critics had been generating the “wrong noise” about the pending fee. Banga’s comments came during the No. 2 payment card network’s first-quarter conference call with analysts, when Banga also said U.S. consumer spending …

Nine months after unveiling its digital-wallet strategy, MasterCard Inc. on Monday announced the start of that strategy’s implementation. Known as MasterPass, the new wallet platform enables mobile payments by consumers using either near-field communication (NFC) technology or quick-response (QR) codes to trigger links between handsets and merchant terminals. Wallets based …

  Digital wallet? Try explaining that concept to your grandmother. New research from comScore Inc. says that very few consumers understand what a digital wallet is and even fewer have used one, the notable exception being PayPal Inc. The November study by the Internet data-measurement firm found that only 51% …