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After long belittling near-field communication technology by joking that its acronym, NFC, stands for “Not for Commerce,” PayPal Inc. before the end of the year will launch a new version of its mobile wallet featuring, yes, NFC. PayPal, which has been working with NFC in Australia, will replace its current …
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Bitcoin Struggles, But Investors Write Checks Nonetheless
Bitcoin had a rough first quarter, leaving open questions about its ability to break into the mainstream of global payments. But that didn’t stop investment cash, which poured at a record rate into startups supporting the digital currency. So says a quarterly report released last month by Coindesk Research, which …
Read More »Speedier Checkout Options Necessary for M-Commerce Growth, Report Says
Improving online conversion rates, especially for mobile commerce, depends on providing many options for faster checkout experiences. That’s the assertion of the newly released “Mobile Commerce Forecast 2015-2018” from Mark Beccue Consulting Inc. Beccue predicts that global mobile-commerce payment volume will grow from $187.5 billion in 2014 to $744 billion …
Read More »Visa’s Scharf Stresses ‘Unique’ Benefits of Costco Deal, Decries Industry ‘Gossip’
Visa Inc.’s branding and marketing strengths were what won Costco Wholesale Corp. over from American Express Co. in a set of exclusive acceptance and cobrand agreements announced early in March, according to Visa chief executive Charles W. Scharf, who spoke Thursday afternoon during a conference call to discuss Visa’s results …
Read More »It’s Mooney in, Davidson out As MCX Picks a New CEO Ahead of Expected Launch
Brian V. Mooney, who on Tuesday took over as interim chief executive of the retailer-controlled Merchant Customer Exchange LLC payments consortium, brings strengths to the organization that could prove valuable when MCX at last launches its long-awaited CurrentC mobile-payments system, sources tell Digital Transactions News. And, by some accounts, he …
Read More »Better Late Than Never: Discover Cards To Join Apple Pay This Fall
When it comes to Apple Inc.’s popular Apple Pay mobile-payment service, some players might figure it’s better to be late than never to participate at all. Issuer Discover Financial Services says consumers will be able to use Discover credit and debit cards with Apple Pay beginning this fall. Apple Pay …
Read More »A New Harris Survey Shows That Consumers Feel the Love for Visa and PayPal
By Jim Daly Grizzled veterans of the payments industry may not have warm and fuzzy feelings for card networks, but the view can be different from consumers’ eyes. In its 27th annual study of brands, a newly released Harris Poll EquiTrend report ranked Visa Inc. as the No. 1 payment …
Read More »MCX Stalwart Best Buy Gives Apple Pay a Boost As Apple Records Strong Quarter
Apple Inc.’s Apple Pay mobile-payments service will be accepted by electronics giant Best Buy Co. Inc., first for in-app purchases and then, later this year, in all of its 1,050 U.S. stores, Apple chief executive Tim Cook said Monday. Cook also announced that some 50 hospitals have agreed to accept …
Read More »Mobile Wallet Relies on ACH for Lower Merchant Fees
A mobile wallet that uses the automated clearing house network to provide merchants with low acceptance costs is in tests with Team One Credit Union in Saginaw, Mich. MShift Inc., of Newark, Calif., is the developer of the mobile wallet it calls AnyWhereMobile. The app is integrated into Team One’s …
Read More »New Costs Imposed on Banks by Same-Day ACH Could Reshape Pricing Approach
By John Stewart Merchants that use the automated clearing house network to accept transactions may not be happy about a new fee expected to be part of a proposed same-day settlement plan, but the plan will impose significant new costs on financial institutions as well. And those costs could reshape …
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