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.

VocaLink Launches Multi-channel Gateway to Enable Real-time Interbank Mobile Payment Services

September 2, 2011 by Mobile Payment Magazine

VocaLink today announced the launch of their new multi-channel gateway product that enables banks to offer customers real-time, inter bank mobile payment services. The multi-channel gateway has been designed to work in conjunction with the VocaLink Immediate Payment solution, but can operate equally well with other payment services, such as the UK’s Faster Payments Service and the LINK network.

Central to VocaLink’s multi-channel gateway is a proxy database that has a look-up capability to associate a proxy such as a mobile phone number or email address to identify customer bank details and enables the payment to be completed. The proxy database ensures that the highest level of safety and security are adhered to, protecting the privacy of the bank and customers.

Marc Terry, Managing Director, Global Transaction Services at VocaLink said “The VocaLink multichannel gateway provides the final piece of the jigsaw that allows customers to initiate real time mobile payments just by supplying the beneficiary’s mobile phone number.”

Surce: VocaLink

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 […]