Digital Transactions Authoritative, insightful and timely information for payments professionals
In the face of reports of generally mediocre mobile-wallet usage, a report issued this week indicates the picture may brighten soon. Thirty-nine percent of consumers have used a mobile-payments service in a store within the past year, and 73% of these have done so just within the past three months, …
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Why Today’s Token Picture Won’t Be Tomorrow’s
As 2015 drew to a close, it became clear that the business of creating and processing tokens in place of actual card credentials has hit the big time. Three of the major general-purpose card networks—American Express Co., MasterCard Inc., and Visa Inc.—have now created so-called digital-enablement services that handle token …
Read More »Wal-Mart’s Big Wallet Gambit
Not long after Wal-Mart Stores Inc. shook the industry last month with its announcement that the chain plans to roll out its own mobile-payment service, questions arose about its commitment to Merchant Customer Exchange LLC (MCX), the mobile-wallet consortium that Wal-Mart helped launch three years ago. Starting in December, Wal-Mart …
Read More »What’s in Your (Digital) Wallet?
Ever since the launch of Apple Pay more than a year ago, mobile wallets have followed a pattern of recruiting financial institutions to enable their network-branded credit and debit cards to work in the wallet apps. But with their proprietary cards, retailers are getting in on this action, as well, …
Read More »New President Cohen Says Payments-Industry Changes Affecting ETA Mission
As 2016 beckons, multiple challenges and opportunities await the payments industry and the Electronic Transactions Association, a Washington, D.C.-based trade group that represents the merchant-acquiring and -processing industry. Incoming ETA board president Greg Cohen says the association, and the payments industry it represents, are in the midst of a transformation …
Read More »The U.K.’s Yoyo Wallet Hopes Soon To Be Walking a Big Dog in U.S. Mobile Payments
By John Stewart While many observers might argue the U.S. payments market has plenty of mobile-wallet entries for the time being, a U.K. startup called Yoyo Wallet figures there’s room for one more. London-based Yoyo, which launched with university cafeterias nearly two years ago and has expanded to catering operations …
Read More »Despite Observers’ Doubts, Wal-Mart Says Walmart Pay Won’t Weaken Ties to MCX
By John Stewart Thursday’s surprise announcement by Wal-Mart Stores Inc. that the retailing titan will roll out its own mobile-payment service next year raises questions about its commitment to Merchant Customer Exchange LLC (MCX), the mobile-wallet consortium that Wal-Mart helped launch three years ago. Starting this month, Wal-Mart will begin …
Read More »Groceries, Drug Stores, C-Stores Yawn at Mobile Payments, Focus on E-Commerce
By John Stewart What kind of technology are grocery stores, drug stores, and convenience stores most interested in? Not mobile payments, at least not right now. That’s the conclusion of the Los Angeles-based Center for Advancing Retail & Technology LLC, which operates an online marketplace of retail solutions for merchants …
Read More »What’s in Your (Digital) Wallet? Chances Are, At Least One Proprietary Card
By John Stewart Ever since the launch of Apple Pay more than a year ago, mobile wallets have followed a pattern of recruiting financial institutions to enable their network-branded credit and debit cards to work in the wallet apps. But retailers are getting in on this action, as well, with …
Read More »Merchant Pay
Banks and Silicon Valley tech companies aren’t the only players crowding into mobile payments. So are retailers and restaurants. Now, with its Chase deal, MCX has thrown the spotlight on the potential for merchant-controlled wallets. As American cities go, you can’t get much more typical, demographically speaking, than Columbus, Ohio. …
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