Mobile Wallets

Apple Pay to Account for 1 in 2 Contactless Mobile Wallet Users by 2020

Apple Pay to account for 1 in 2 contactless mobile wallet users by 2020 The number of mobile payments users who tap to pay using a contactless payment solution provided by their mobile devices maker will grow to 450 million people worldwide by 2020, according to a new forecast from Juniper Research.

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Chase Links Payment App to Samsung Pay Mobile Wallet

Chase Bank’s Chase Pay customers who use Samsung Galaxy smartphones can now link their mobile wallet to Samsung Pay. Customers are now able to use Samsung Pay’s magnetic secure transmission (MST) technology, along with near-field communication (NFC) capabilities, to pay with the Chase Pay app at millions of merchants in the U.S.

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The Rise of the Digital Wallet

In recent years, many companies have built digital payment solutions for everyday consumer use. Companies such as Apple, Samsung, Google, PayPal, Visa and Microsoft all have introduced digital solutions into the market, and each of these entities were early-movers in the creation of what we all refer to as the digital wallet.

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FIs Beef Up Loyalty and Digital Wallet Features

As digital banking and payments become mainstream, financial institutions (FIs) are stepping up their efforts to improve customer engagement (CE). The moves comes as consumers expect excellent product experiences as compelling new business models and product-level innovations come to market.

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RBC Plans New Push to Get Clients to Adopt Its Digital Offerings

Royal Bank of Canada introduced a wave of technology initiatives in a bid to attract more tech-savvy customers who embrace a digital lifestyle. RBC plans to spend C3.2 billion (2.5 billion) this year on technology – including artificial intelligence, digital products and social media – and use the tech push to woo more than 2.

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Merchants Dialing Back Mobile Wallet Acceptance, Survey Finds

Fewer merchants are accepting Apple Pay, Google Pay and other mobile wallets this year compared to 2017, and many don’t have any way to detect or track fraudulent mobile transactions, according to research released today by fraud-detection firm Kount and consulting firm The Fraud Practice LLC.

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How Travelers Are Dictating Where Mobile Wallets Expand Globally

In 1946, banker John Biggins introduced the first bank card, Charg-It, across his neighborhood in Brooklyn, New York. When a consumer charged a purchase at a local merchant, the charge would be forwarded to Biggins bank, which would reimburse the merchants and collect payment from the consumer.

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Consumer Convenience, Retail and Payments Disintermediation

Disintermediating the established intermediaries has become something of an art form in payments and retail these days. Physical retail is being disintermediated by a host of new players using digital technologies and data that further erode their relevance.

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Infographic: World of Alternative Payments

In an era of chip-based cards and encrypted secured e-wallets, are we on our way to a completely cashless society? Money comparison firm Money Guru has analysed the growing payment trends, how tech is leading the finance industry, and what the future has in store for our spending.

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