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With two strokes of the pen, Merchant Customer Exchange LLC has addressed one glaring weakness in its mobile wallet. By announcing a deal this week with JPMorgan Chase & Co.’s brand-new Chase Pay mobile-payments service and two weeks ago with a little-known New York City-based app provider called BIM Networks …
Read More »Samsung Pay Adds Card Issuers and Brings Verizon on Board
Samsung Pay, the mobile-payments service from Samsung Electronics Co. Inc., has added 14 Visa-MasterCard payment card issuers. In addition, Verizon Wireless, the holdout mobile carrier that was absent from Samsung Pay’s launch a month ago, is now supporting the service, a Samsung executive said Wednesday. “We’re expanding our ecosystems,” Thomas …
Read More »Eye on Money 20/20: OmnyPay Launches and TMS Adds a POS Terminal
A new mobile-payments service that includes loyalty and rewards has launched with the goal of providing retailers with a single source of mobile engagement with their consumers. Dubbed OmnyPay, the service is just one of the many announcements made this week at the annual Money 20/20 conference in Las …
Read More »With Technology from VocaLink And FIS, TCH Sees a Faster Way to Real-Time Payments
With two key announcements this week, The Clearing House Payments Co. LLC has brought the finish line much closer in its run to build a U.S. real-time payments system. While the New York City-based company has not set a date for completion, senior executives told Digital Transactions News Tuesday TCH …
Read More »Chase Unveils Chase Pay, a Mobile Wallet That Will Work at Merchants Accepting CurrentC
JPMorgan Chase & Co. on Monday unveiled its Chase Pay mobile wallet and said the product will begin rolling out in the middle of next year. Chase also said its new wallet will be accepted at merchants belonging to the Merchant Customer Exchange LLC, a retailer-controlled consortium that has been …
Read More »Mobile Payments Poised for Big Growth, but Apple Pay Not Busting the Charts Yet
The latest forecast for mobile payments at the point of sale echoes what many other studies have said, which is that current volume is minuscule. But a convergence of forces, including mobile wallets coming preloaded with more and more smart phones and more point-of-sale terminals being able to accept new …
Read More »Panelists Fret About the Effects of Dodd-Frank on Financial Innovation
The controversial Dodd-Frank Act scored just 20% in an impromptu popularity poll Sunday afternoon, with its only support coming from someone in the federal government. The quick straw poll was hardly representative as the mere five respondents were panelists at a conference for payments executives, but the results do reflect …
Read More »Hype Aside, Only 18% of Consumers Make a Mobile Payment at Least Once a Week
By Kevin Woodward None can escape the notoriety of mobile payments, but most consumers apparently are able to ignore the allure of using the smart phone-based technology. Only 18% of consumers use their mobile phones to make at least one payment a week, finds the 2015 North America Consumer Digital …
Read More »Banking Kingpin Chase Prepares an ‘Aggressive’ Push for Its Own Digital Wallet
Another 800-pound gorilla will soon be promoting a digital wallet, only this time it’s not a technology firm. It’s JPMorgan Chase & Co., a world leader in payment card issuance and merchant acquiring. “We’re launching our own wallet. You’ll be hearing a lot more about it,” Mike Passilla, chief executive …
Read More »CurrentC Adding More Major Merchants in Columbus, ‘Open-Loop’ Cards To Come
Within a week, four more major retailers—ExxonMobil, Sears, Shell Oil, and WalMart—will join the CurrentC pilot that started last month in Columbus, Ohio. That’s according to Brian V. Mooney, a long-time processing executive who took over in April as interim chief executive of the mobile wallet’s sponsor organization, Merchant Customer …
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