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.

Mobile Payment Strategies Report: Opportunities & Markets 2011-2015

July 5, 2012 by Mobile Payment Magazine

A new study from Juniper Research has determined that the total value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670bn by 2015, up from $240bn this year. These forecasts represent the gross merchandise value of all purchases or the value of money being transferred.

The new Mobile Payment Strategies report revealed that all segments will exhibit 2x to 3x growth over the next five years. This growth will be driven by the rapid adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers as people in both developed and developing countries use their devices for everyday transactions. [Read more…]

VinaPhone Offers Payment by Mobile Phone with MoMo Electronic Wallet

May 28, 2011 by Mobile Payment Magazine

VinaPhone’s customers can pay for their bills anywhere through a MoMo electronic wallet instead of having to use a MaxSim128K. Payments are made via the www.payment.momo.vn website. MoMo electronic wallet is mobile banking that averts the need for cash payments.

In the future, VinaPhone will introduce more applications for the service to meet demand for electronic payments for the 30,000 customers now using the MoMo electronic wallet.

via Vietnam News.

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 […]