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Payment with a wearable device, such as a smart watch, wristband, or fitness monitor, has the potential to be used by 45% of wearables-owning consumers by 2020, finds the IHS “Wearable Payment Devices Report—2016” issued Wednesday. In four years, the global market for wearables will reach 340 million devices shipped, …
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MasterCard’s Possible VocaLink Buy Could Shake Up the U.S. Faster-Payments Scene
MasterCard Inc. reportedly wants to acquire VocaLink Ltd., operator of the United Kingdom’s Faster Payments system, for just under £1 billion ($1.4 billion), according to reports in the British media Thursday. Such a deal, if consummated, could shake up the budding faster-payments movement in the U.S., where VocaLink is building …
Read More »Sky’s the Limit for Amazon Payments As It Handles Onboard Purchases for Southwest
Many consumers will find it easier to make onboard entertainment purchases when flying on Southwest Airlines Inc. now that the airline is accepting Pay with Amazon. Announced Wednesday, the service enables Southwest passengers who have stored payment data in their Amazon.com Inc. accounts to pay with those credentials. To pay for …
Read More »MasterCard And Visa Jockey To Cash in on Expected Jump in Payments on Wearables
Payments made via so-called wearables are forecast to soar in the years to come, so Visa Inc. and MasterCard Inc. are positioning themselves to cash in with announcements made Monday at the huge Mobile World Congress in Barcelona, Spain. MasterCard unveiled a partnership with WiseKey, a Swiss company whose security …
Read More »Can PAR Keep Tokens Out of the Payments Sand Trap?
A new data element is getting a lot of discussion in merchant-acquiring and mobile-payments circles. It’s the so-called Payment Account Reference, or PAR, and it’s meant to associate all the payment tokens linked to a single credit or debit card primary account number, or PAN. But implementing PAR could be …
Read More »Payments Execs Already Foresee the Store Checkout Yielding to ‘Uberesque Approach’
While mobile wallets, near-field communication, and EMV have focused all eyes in the payments industry on the physical point of sale, some mobile-payments executives are starting to prepare for what they see as the fading away of the traditional checkout counter. Technology already exists that allows customers to order ahead …
Read More »Consumer Appeal of Peer-to-Peer Payments Widens As P2P Services See Volume Climb
With PayPal Holdings Inc. promoting its fast-growing Venmo peer-to-peer payments service and rumors that Apple Inc. is eyeing the business, P2P transfers are starting to take center stage in the consumer-payments business. And now a new survey indicates the service is growing in appeal to consumers for a variety of …
Read More »Visa Opens Scores of Its APIs to Developers in a Bid To Speed Payments Innovation
In a move that recognizes the powerful role application developers play in the global payments arena, Visa Inc. on Thursday opened scores of its application programming interfaces to thousands of outsiders worldwide, including merchants, banks, and technology companies. The new program, called Visa Developer, embraces some 155 APIs and includes …
Read More »In-App Payments: A Juicy Channel for Apple Pay
The crucial role in-app payment plays in mobile-wallet usage emerged in high relief last month in a report showing that almost one-third of all Apple Pay credit card transactions made in the previous five months by surveyed consumers occurred within a merchant app rather than in a store. Over the …
Read More »In-App Payments: A Juicy Channel for Apple Pay
The crucial role in-app payment plays in mobile-wallet usage emerged in high relief last month in a report showing that almost one-third of all Apple Pay credit card transactions made in the previous five months by surveyed consumers occurred within a merchant app rather than in a store. Over the …
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