Mobile Commerce

U.S. consumers are apt to have more money—$485 on average—in their PayPal Holdings Inc. accounts than cash in their wallet, $196, finds the Future of Money Study from Logica Research. San Francisco-based Logica Research, formerly Koski Research Inc., also found that 58% of Americans have a PayPal account. A number of …

Amazon.com Inc. may not have a lock on the concept of a checkout-free store. A San Francisco-based startup company called Zippin said on Monday it has opened a store that lets consumers walk in, pick up the items they want to buy, and simply walk out. Zippin’s technology tracks what …

Glance Technologies Inc., developer of mobile-payment service Glance Pay, announced a cross-licensing and cobranding agreement with Brewhound Inc., maker of the restaurant and bar locator The Happy Hour App. The dual integration means consumers using Brewhound’s app in the Vancouver, British Columbia, area can locate venues that accept Glance Pay, while …

In the wake of a major European outage for Visa Inc. this spring, major U.K. banks reported they had sustained a total of 80 “operational and security incidents” within their payments systems during the second quarter of 2018. British regulators this week began requiring banks to publicly disclose major incidents …

Payment processor First Data Corp. reported late Wednesday that it has extended its joint venture with Wells Fargo & Co.’s Wells Fargo Bank, which is one of the nation’s largest merchant acquirers and an important contributor to First Data’s payment volume and profits, until the end of 2024. Wells Fargo …

Financial institutions have been battling fast-growing fintechs and other nonbanks for payments share and revenue for years, but now new research indicates banks, which have historically controlled this crucial business, are on the cusp of slipping from that dominant perch. In 2017, U.S. banks’ total payments revenue netted out to …

Shell Oil Co. and General Motors Inc. announced Shell stations across the United States now accept in-dash fuel payments following tests earlier this year. Shell Pay & Save, available within the GM Marketplace on certain Chevrolet, Buick, GMC, and Cadillac vehicles, enables consumers to pay for fuel and earn and …

Don’t look for many optimists in the payments industry when it comes to a future with less fraud. Fully 84% of those surveyed by TD Bank say payments fraud will become a bigger threat over the next one to two years. Released Tuesday, the survey, conducted this spring at the …

More than 252 million iPhone owners globally use Apple Pay, a figure that equates to 31% of the active iPhone base, says Loup Ventures, a Minneapolis-based venture-capital firm. A year ago, the figure was 25%. That growth mostly is coming from international consumers, who Loup Ventures says account for 85% …

Having completed its first full quarter of operation on June 30, Worldpay Inc. on Thursday reported just over $1 billion in net revenue for the period from business lines that include merchant processing, technology services, and card-issuer support. That’s up 11% from what Vantiv Inc. and Worldpay Group plc would …