Tuesday , January 16, 2018

Near-Field Communication (NFC)

LG Is Poised To Enter the U.S. Mobile-Payments Fray

South Korea-based consumer-electronics giant LG Electronics plans to bring its LG Pay mobile-payments service to the U.S. in a few months. But with its smart phones in the hands of only 10% of American consumers, how much market share LG Pay can capture and how it can distinguish itself from …

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Alphabet Sweeps Android Pay And Other Services Under a Single Name: Google Pay

Say goodbye to Android Pay and Google Wallet, and say hello to Google Pay. Alphabet Inc.’s Google unit on Monday announced a rebranding of its disparate online payments services under the single moniker Google Pay. The new branding’s scope is so broad that even the function within Chrome Web browsers …

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Security Fears Hobble Adoption And Usage of Mobile Payments, Fed Report Finds

If you ask consultants what’s holding back mobile payments in the United States, you’ll get answers ranging from lack of acceptance ubiquity to malfunctions at the point of sale to consumers’ perceptions that payment cards work just fine. Now the nation’s financial institutions have weighed in on the matter, and …

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QR Codes Gain Momentum, But the Resurgence Could Be Short-Lived, a Report Warns

New mobile-phone capability, coupled with physical stores’ response to the encroachment of e-commerce, will help drive the volume of digital coupons in the next few years, according to a new report. Worldwide redemptions of coupons via mobile phones and online will grow at an average annual rate of 14.1% through …

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Mobile Wallets Team Up With Networks, Issuers, and Merchants for Consumer Attention

The holiday shopping season may be coming to a close, but mashups between mobile-wallet providers, merchants, payment card networks, and card issuers are likely to continue indefinitely as all groups seek more transaction volume from consumers. Apple Inc. has been active this holiday season. In one promotion, Apple is offering …

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In Making Its App Work With Apple’s Face ID, Discover Could Tap Into a Budding Appetite for Biometrics

Wider availability of technology that would have been nearly unthinkable only a few years ago is making biometric authentication a more likely replacement for the password. In the latest development, Discover Financial Services on Thursday announced users of its mobile app who own an iPhone X can log in to …

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Chicago Transit Authority To End Issuance of Open-Loop Fare Cards

The Chicago Transit Authority, an early proponent of open-loop fare payments, announced Monday that the general-purpose payment feature in some of its fare cards will expire Dec. 31. The operator of the nation’s second-largest transit system says riders did not embrace the idea of a CTA-provided general-purpose prepaid account coupled …

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Discover Could Be a Big Winner If Users And Merchants Embrace Apple Pay Cash for Purchases

Discover Financial Services could find itself in the catbird’s seat if Apple Inc.’s new Apple Pay Cash person-to-person payment service gains popularity as a way to pay merchants. In addition to its main P2P function, Apple Pay Cash is accepted at any merchant location that accepts Apple’s 3-year-old Apple Pay …

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Boston’s Transit System To Replace Its CharlieCard With Contactless Fare Payments

Less than a month after winning the contract to bring contactless fare payments to New York City’s vast subway and bus system, Cubic Transportation Systems won a $575 million contract from the Massachusetts Bay Transportation Authority to replace the CharlieCard, a fixture in Boston, with a modernized fare system centered …

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Visa Creates Business Unit To Develop Opportunities in the Expanding Transit Payments Market

Visa Inc. announced Monday that it has created a business unit dedicated to transit payments. The new unit debuts as public transportation agencies worldwide move away from cash and proprietary magnetic-stripe fare cards and begin accepting mobile wallets and contactless general-purpose credit and debit cards. Dubbed Visa Global Transit Solutions, …

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