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.

Card.io Credit Card Processing System Gains Traction with Developers

September 20, 2011 by Mobile Payment Magazine

card.io, a mobile commerce company founded by two former AdMob employees, Mike Mettler and Josh Bleecher Snyder, today announced its credit card processing system has gained traction with iOS developers leading the company to launch a similar SDK for Android. card.io’s free mobile payment solution allows consumers to take a picture of their credit card to process payments, without any extra hardware. Since its iOS platform launch in June over 80 apps have integrated the card.io SDK, with more than 750 new developers signed-up.

“Developers are all looking for the same thing when it comes to commerce; a frictionless consumer experience,” said Mike Mettler, founder and CEO of card.io. “Getting such a wide variety of apps to integrate our iOS SDK in less than three months has gone beyond our expectations and has set the stage for our Android availability today.”

card.io’s solution has huge appeal across several industry verticals including e-commerce, local, retail, ticketing, travel, and daily deal apps. Some active apps sending card scans using card.io are Venmo, a social payments platform, Merchant Billing, a billing, payments and processing company, and Qthru, a retail application that is geared toward improving the way people shop.

“card.io reduces the number of taps for adding a credit card by 20,” said Andrew Kortina, co-founder of Venmo. “That means 20 fewer opportunities for a typo, and happier customers.”

card.io is backed by angel investors Michael Dearing of Harrison Metal, Jeff Clavier and Charles Hudson of SoftTech VC, Manu Kumar of K9 Ventures, Alok Bhanot (former VP, Risk Technology at PayPal), and Omar Hamoui (CEO and founder of AdMob).

Source: PR Web

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 […]