Digital Transactions Authoritative, insightful and timely information for payments professionals
Few doubt the tremendous growth in mobile payments as consumers increasingly wield their mobile phones at the point of sale. In fact, consumers spent approximately $4 billion doing just that in 2014, a marked increase from the $961 million in 2013, says the “Mobile Proximity Payments Forecast 2015,” a new …
Read More »USA Technologies’ Network Volume Grows 28% While Its NFC Base Expands
Unattended-payments provider USA Technologies Inc. (USAT) said its revenues increased 47% to $15.4 million in fiscal 2015’s third quarter ended March 31 versus $10.4 million year earlier as connections and transaction volume in its wireless network rapidly increased. Malvern, Pa.-based USAT on Monday said its network handled 54.8 million transactions, …
Read More »Speedier Checkout Options Necessary for M-Commerce Growth, Report Says
Improving online conversion rates, especially for mobile commerce, depends on providing many options for faster checkout experiences. That’s the assertion of the newly released “Mobile Commerce Forecast 2015-2018” from Mark Beccue Consulting Inc. Beccue predicts that global mobile-commerce payment volume will grow from $187.5 billion in 2014 to $744 billion …
Read More »It’s Mooney in, Davidson out As MCX Picks a New CEO Ahead of Expected Launch
Brian V. Mooney, who on Tuesday took over as interim chief executive of the retailer-controlled Merchant Customer Exchange LLC payments consortium, brings strengths to the organization that could prove valuable when MCX at last launches its long-awaited CurrentC mobile-payments system, sources tell Digital Transactions News. And, by some accounts, he …
Read More »Better Late Than Never: Discover Cards To Join Apple Pay This Fall
When it comes to Apple Inc.’s popular Apple Pay mobile-payment service, some players might figure it’s better to be late than never to participate at all. Issuer Discover Financial Services says consumers will be able to use Discover credit and debit cards with Apple Pay beginning this fall. Apple Pay …
Read More »A New Harris Survey Shows That Consumers Feel the Love for Visa and PayPal
By Jim Daly Grizzled veterans of the payments industry may not have warm and fuzzy feelings for card networks, but the view can be different from consumers’ eyes. In its 27th annual study of brands, a newly released Harris Poll EquiTrend report ranked Visa Inc. as the No. 1 payment …
Read More »MCX Stalwart Best Buy Gives Apple Pay a Boost As Apple Records Strong Quarter
Apple Inc.’s Apple Pay mobile-payments service will be accepted by electronics giant Best Buy Co. Inc., first for in-app purchases and then, later this year, in all of its 1,050 U.S. stores, Apple chief executive Tim Cook said Monday. Cook also announced that some 50 hospitals have agreed to accept …
Read More »Mobile Wallet Relies on ACH for Lower Merchant Fees
A mobile wallet that uses the automated clearing house network to provide merchants with low acceptance costs is in tests with Team One Credit Union in Saginaw, Mich. MShift Inc., of Newark, Calif., is the developer of the mobile wallet it calls AnyWhereMobile. The app is integrated into Team One’s …
Read More »How New York Transformed from an 18th-Century Laggard Into a Payments Leader
It isn’t often that a municipality is recognized for its work in the payments space. But that’s what happened Tuesday when NACHA, governing body of the automated clearing house network, gave a New York City department its George Mitchell Payments System Excellence Award for transforming the city’s decentralized, inefficient and …
Read More »Wearables Users More Likely to Use Digital Banking And Mobile Wallets, Research Says
Apple Inc. and American Express Co. may be catching a wave. Users of wearable technology like fitness bands and smart watches—the kind of gadgets AmEx and Apple are mixing with payments and financial services—are not only younger and wealthier than owners of smart phones and tablets, they’re also more likely …
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