Mobile Payment Magazine

Consumers and Mobile Financial Services – Free Report

Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.

mHITs Australia SMS Payment Service Wins 2011 Australian Mobile Awards in Finance, Business and mCommerce Category

September 8, 2011 by Mobile Payment Magazine

The mHITs Australia SMS payment service was announced as a WINNER in the 2011 Australian Mobile Awards. mHITs was selected as the winner of the Mobile Trading Platform section within the Finance, Business and mCommerce category of the awards.

“We are very excited to have received this award” says mHITs founder and CEO Harold Dimpel. “mHITs is a simple SMS based payment service that is available to all Australian mobile phone users. This latest award is recognition that innovation and successful commercialization are possible even in challenging economic times” he continues.

The mHITs service allows users to send and receive payments via SMS text message. Users can send and receive payments to each other by SMS or can order and pay for food and beverage items such as coffee from mHITs venues. Focusing on micro-payments, the platform is the only carrier-independent and bank-independent mobile payment wallet in the Asia-Pacific region that offers full service functionality including person-to-person and merchant payment options including Point Of Sale capability.

Source: PR Wire

Visa “Tap to Phone” Adoption Grows Rapidly

Today, Visa announced that Tap to Phone has experienced a 200% increase over the past year.

Is Your Business PCI Compliant?

A simple guide answering some frequently asked questions as well as debunking a couple myths about PCI compliance.

Nets and Oberthur Technologies Offer Mobile Payments to Scandinavian Banks

Nets, a payments service provider in Northern Europe, and OT (Oberthur Technologies), a global provider of embedded security software products, services and solutions, are partnering to service banks with a financial platform to support future international mobile payment means in the Nordics.

Kohl’s to Launch Mobile Payments

Kohl’s (NYSE: KSS) announced today the nationwide launch of Kohl’s Pay, a mobile payment option which integrates the Kohl’s Charge private label credit card into Kohl’s mobile app. Kohl’s Pay allows more than 25 million active card holders across the country to pay for their in-store purchases with their Kohl’s Charge card directly from their mobile device. Kohl’s Pay also its customers to apply their Kohl’s offers, Kohl’s Cash and Yes2You Rewards with a single transaction right from the mobile device at checkout.

Apple in Talks with Banks to Develop Mobile Person-to-Person Payment Service – Update – NASDAQ.com

Apple Inc. is in discussions with U.S. banks to develop a mobile person-to-person payment service that would compete with PayPal Inc.’s popular Venmo platform, according to people familiar with the talks. The talks are ongoing, and it is unclear if any of the banks have struck an agreement with Apple, these people said. Key details […]