Mobile payment Stories May 19, 2016
Mobile payment Stories May 17, 2016
Remember MCX CurrentC, the QR-code based mobile payment system that attempted to take on Apple Pay? Launched two years ago, it immediately started creating waves when it required its retail members to switch off Apple Pay or be fined. If that weren’t bad enough, it was quickly hacked.
Apple Pay fans made fun of the service in app reviews, and it wasn’t long before retailers started to break ranks and we saw some rapid back-pedalling on Apple Pay from one CEO before he was replaced by another.
Little has been heard from MCX since, and it’s no surprise that the consortium finally appears to be giving up on the idea – though it has stopped a little way short of admitting as much …
Mobile payment Stories August 6, 2015
Retail data analytics firm InfoScout has told payment industry conference PYMNTS R2 that the percentage of U.S. iPhone 6 owners who have tried Apple Pay fell from 15% in March to 13.1% in June. Usage has also fallen sharply among those who have tried the service. Surveying iPhone 6 owners who have previously used Apple Pay and were shopping in a store that accepts the payment method, the percentage using Apple Pay fell from 39.3% in March to just 23% in June.
Mobile payment Stories February 24, 2015
Visa Europe has announced that its European contactless payment terminals will support the tokenization service used by Apple Pay by mid-April. This would allow Apple to introduce Apple Pay to Europe anytime from this point on. MasterCard has advised us that it already supports tokenisation globally.
Tokenisation technology will be at the heart of new mobile payment solutions and has been hailed as one of the best data protection and fraud prevention methods available. The new service will be available for financial institutions [in Europe] from mid-April 2015.
Although Europe has had contactless payment cards for several years, these currently transmit the actual card details to the terminal. Apple Pay, in contrast, transmits single-use codes which card companies can map back to the actual card, a functionality currently only available on the Visa network in the USA. As of mid-April, that functionality will be available in Europe too … expand full story
Mobile payment Stories February 18, 2015
Staples has revealed that Apple Pay is now the most popular form of payment in its iOS app, used for 30% of purchases made using the app. Apple Pay also appears to have driven new sales, with almost two-thirds of those transactions being from first-time Stapes customers, reveals FierceMobileIT.
“Apple Pay has been one of the most successful implementations when it comes to payments. […] Right now it’s the number one payment method for us in our iOS apps,” said Prat Vemana, vice president of mobile commerce for Staples.
Vemana also revealed that while Staples has both iOS and Android apps, with usage split pretty evenly between the two, Apple owners are more profitable, generating 70% of mobile purchases … expand full story
Mobile payment Stories December 29, 2014
Brits waiting impatiently for Apple Pay to launch in the UK may not have too much longer to wait, reports the Telegraph. Sources involved in talks taking place between Apple and “Britain’s top banks” have stated that the service is expected to launch in the UK in the first half of 2015.