Mobile Payments

Data: Who Wants Contactless Cards?

The U.S. may be next to see a surge of contactless credit cards, following other major markets around the world. In many locales similar to the U.S., consumers tap to pay for about 20 of all in-store transactions using Near Field Communication-equipped cards, far surpassing the number of mobile payment users. But it’s unclear whether […]

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Cashless Payments Push MUFG Bank to Shed 20% of ATMs

MUFG Bank looks to shrink its Japanese ATM network by 20% through fiscal 2023 as online sales and cashless payments reduce the need for personal banking services such as cash withdrawals.The Mitsubishi UFJ Financial Group unit operates 8,141 ATMs nationwide, and intends to cut this number to around 6,700.

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Banks and Retailers Are Tracking How You Type, Swipe and Tap

When you’re browsing a website and the mouse cursor disappears, it might be a computer glitch – or it might be a deliberate test to find out who you are. The way you press, scroll and type on a phone screen or keyboard can be as unique as your fingerprints or facial features.

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Bank of East Asia Joins the Mobile Payments Race as Traditional Lenders Challenge Tech Firms

Bank of East Asia has become the latest lender to join the mobile payments fray in Hong Kong with the launch on Monday of the first all-in-one electronic payment platform for merchants. At present, restaurants and shops that accept credit cards and other forms of mobile payment have to install different devices to process each […]

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People’s Daily Calls for Mobile Payments Companies to Tighten Consumer Protection Measures

People’s Daily, the ruling Communist Party’s mouthpiece, on Friday published an article calling for mobile payments providers to strengthen security measures to help users get back their funds if they mistakenly transfer money to the wrong account or send an incorrect sum.

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Bugs in Mobile Credit Card Readers Could Expose Buyers

The tiny, portable credit card readers you use to pay at farmer’s markets, bake sales, and smoothie shops are convenient for consumers and merchants alike.

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Starbucks Brushes Off Idea of Bitcoin Payments

Recent news that Starbucks has partnered with Microsoft, the International Exchange, and a few other companies to launch a cryptocurrency venture called Bakkt has fueled reports that Starbucks is getting ready to start accepting Bitcoin in its stores. Speaking to Motherboard, however, the company has stated that this is not true.

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Why Apple Pay Is the Highest-Rated Mobile P2P Payment Service

In our first-ever test-based ratings of P2P mobile services, Consumer Reports rated Apple Pay the highest overall, with excellent or very good marks in the key consumer-protection measures of payment authentication and data privacy.

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Strip Banks, Credit Cards of Digital Payment Powers, Says Productivity Commission Report

Australia’s biggest banks and global payments schemes must have self-regulatory powers covering digital payments and infrastructure access forcibly removed to dismantle a harmful oligopoly. That’s the radical call from the Productivity Commission’s inquiry report into Competition in the Australian Financial System.

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Apple Kicks Off Massive Digital Payments Promotion in San Francisco; Big Discounts With Apple Pay

Apple kicked off a major digital wallet promotion in San Francisco today. This is just days after CEO Tim Cook reported that the company tripled Apple Pay transactions this year, hitting more than 1 billion in annual volume. That’s bigger than Square and more than Paypal’s mobile transactions, says Apple.

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Taking Stock of the Digital Payments Landscape

Originally published on bobsguide. The EU Payment Services Directive II (PSD2) took effect in January, starting a trend towards increased competition by opening up the payments market to a new wave of payment service providers (PSPs) and fintechs.

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Square vs Paypal and a Search for the Best Mobile Credit Card Readers

Mobile credit card payment processing is not a niche phenomenon, but an entire movement that mirrors mobile phone usage and growth. According to the Mercator Advisory Group, on their site Payments Journal, In-Store mobile payments are expected to overtake credit cards and grow from a current $75 billion to $503 billion in 2020.

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