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.

Megapay and MJV Launch Brazil Mobile Payment Service

January 13, 2011 by Mobile Payment Magazine

Megapay, a division of Hong Kong based cloud computing giant Megaworld, in partership with MJV, a Brazilian company that combines technology services and mobile solutions, have launched a mobile payment services in the Brazilian market.

Using Megapay’s and MJV’s technologies, Megaworld’s Brazilian customers are now able to make payments for any Megaworld service via mobile phone by submitting their phone number to Megapay’s payment platform. The customers are securely authenticated through a web PIN sent to their mobile phone via SMS, allowing them to immediately enjoy unlimited access to Megaworld premium services. Megapay’s service allows Megaworld customers to use their mobile phones as wallets and brings Megaworlds services to more than 90% of the Brazilian population.

Megaworld’s growth in Brazil and the Latin American region has been phenomenal. Since 2005, Megaworld has experienced a 100% year on year growth in registered subscribers. Megaworld’s total client base in Brazil is almost 5 million registered subscribers with 13 million active in Latin America. Popular services include Megaupload, a leading player in cloud storage, as well as Megavideo, a video streaming site. Recent additions to the Megaworld portfolio include Megabox, a cloud-based music hosting and streaming service; Megapix, an online marketplace for stock photography and hosting of pictures; Megalive, an innovative broadcasting service that anyone can use.

Source: PRWeb

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 […]