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Payments Industry Intelligence

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    Despite double-digit growth this year and next, Americans’ use of proximity mobile payments wallets like Apple Pay, Android Pay and Samsung Pay, as well as branded apps that include mobile wallets like the Starbucks app, Walmart Pay and CVS Pay, will not reach mass adoption in the foreseeable future. This year, 38.4 million Americans 14 [...]

    The post 20% of smartphone users use proximity mobile payments appeared first on Payments Cards & Mobile.

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    mobile and contactless payments

    Mobile and contactless payments are an area of much debate among stakeholders across the ecosystem. Questions about implementation opportunities and challenges and the uncertain future for how mobile payments will evolve have made this an important topic to be addressed in an open forum in the US. The U.S. Payments Forum has announced the Mobile [...]

    The post US Payments Forum launches new mobile and contactless payments effort appeared first on Payments Cards & Mobile.

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    Apple has claimed first blood in its battle with Australia’s largest banks, which have been trying to force it to offer them access to Apple Pay. The decision could help smooth Apple Pay’s difficult entry into Australia, where mobile-payment technology is more advanced than in the US and where most consumers simply wave a debit [...]

    The post Apple Pay wins legal battle against Australian banks appeared first on Payments Cards & Mobile.

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    Ten years after the founding of the Payment Card Industry Security Standards Council (PCI SSC), we present a mid-term report on the industry’s data security efforts. As both cyber attacks and regulatory interest in data privacy and protection increase, we also examine the outlook for data security and PCI DSS. Asked why he robbed banks, prolific [...]

    The post Data security: Card data security ten years on appeared first on Payments Cards & Mobile.

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    The FinTech sector is being shaped by shifting market conditions, new regulations, and changes in consumer demands and behaviors. For the past decade, FinTech companies have moved quickly, forcing incumbents to rethink their core business models and embrace digital innovations. But now, the FinTech industry is itself maturing and entering a period of rapid change. Companies wondering how [...]

    The post Seven critical changes to payments industry as FinTech matures appeared first on Payments Cards & Mobile.

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    The global smartphone installed base will grow from 4 billion in 2016 to more than 6 billion smartphones in use by 2020, according to new analysis released by IHS Markit. Messaging and communications apps such as Line and Whatsapp will grow from 5 billion users in 2016 to 7.5 billion by 2020.  “Mobile innovations, new business models and [...]

    The post More than 6 billion smartphones by 2020 – 7.5 billion users appeared first on Payments Cards & Mobile.

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    Three of Australia’s major banks (National Australia Bank, Commonwealth Bank and Westpac), along with Bendigo bank have released a joint statement in response to the Apple Pay submission to the coalition seeking to bargain with the technology provider over the use of its NFC payments technology. The banks said: “the application has never been about [...]

    The post Autralian banks respond to Apple Pay NFC payment submission appeared first on Payments Cards & Mobile.

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    Visa says that, by the end of this year, more than 12 European countries are adopting the Visa Token Service, a new technology that makes mobile and online payments more secure and convenient by replacing the consumer account information with a digital identifier. The technology is already supporting mobile payment schemes in 27 countries worldwide, [...]

    The post Visa Token Service extends mobile payments into 12 European countries appeared first on Payments Cards & Mobile.

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    No personal consumer device seems to have had the same impact as the smartphone. Unbelievably it’s only ten years ago that Steve Jobs announced the iPhone at a Macworld convention. Now over a billion iPhones have been sold. With the speed and scope of change in the mobile space, it can be hard to separate [...]

    The post HCE – The way to move mobile payments forward fast appeared first on Payments Cards & Mobile.

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    People don’t use their mobile phones to make telephone calls nearly as much as they used to. They are using them to surf the internet, send instant messages, even wake them up in the mornings. The relentless wave of mobile-inspired innovation is continuing and now includes mobile payment. Issuing banks often ask me about the [...]

    The post To ‘Pay’ or not to ‘Pay’? The choice around mobile payment appeared first on Payments Cards & Mobile.

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    Apple Pay has won a major regulatory battle with Australian banks that will see it retain control of its contactless mobile payment technology. Four banks had wanted to negotiate with Apple Pay to gain access to its payments technology for their own apps, avoiding having to pay fees to Apple. But the country’s competition watchdog has [...]

    The post Australia banks lose ruling to Apple Pay as mobile wallet continues dominance appeared first on Payments Cards & Mobile.

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    When Apple launched its Apple Pay mobile payment service more than two years ago, it hoped to speed up the checkout process and, ultimately, to replace physical wallets for US consumers. Apple Pay has made significant headway, but consumer’s wariness reflects a range of factors that analysts say have caused growth to undershoot their expectations, [...]

    The post Apple Pay mobile payment adoption rates poor… and slowing appeared first on Payments Cards & Mobile.

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    The future of payments won’t be about payments, it’ll be about data. Specifically the contextual data that travels with payment, rather than the payment message itself. Payment will cease to be the most visible part. In time it may even disappear. We examine how disappearing payments will create a long-tail of disruption for consumers, merchants, [...]

    The post Disappearing payments: How to navigate the future appeared first on Payments Cards & Mobile.

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    Samsung has announced the launch of the Contactless Companion Platform (CCP) together with its ecosystem partners, Smartlink and Ingenico, built with its dual interface smart card chip for Digital Cash applications and form factors. As the smart card chip provider, Samsung introduces a disruptive contactless concept with both partners that combines existing contactless services and [...]

    The post Samsung introduce Contactless Companion Platform to enable “Digital Cash for Everyone” appeared first on Payments Cards & Mobile.

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    The financial services sector is one of the prime markets that stands to gain many benefits from cloud computing but, to date, this has proved rather difficult. This is hardly surprising when one considers the heavy regulation within this industry. On top of this there is also a lot of fear from organisations pertaining to [...]

    The post Cloud computing: There’s a clearing in the cloud for financial services appeared first on Payments Cards & Mobile.

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    Samsung Pay has launched in the UK. Visa account holders can now use their compatible Samsung smartphones for purchases worldwide. Visa’s tokenisation service enables cardholders to add their Visa credit and debit cards quickly and easily to the Samsung Pay wallet and pay at contactless POS terminals. Samsung Pay is now available to Visa cardholders who bank [...]

    The post Samsung Pay now available to UK Visa cardholders appeared first on Payments Cards & Mobile.

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