By John Stewart The advent of younger users, combined with the rise of smart phones and a much-improved user experience, is helping to drive a surge in mobile person-to-person payments. But providers still haven’t figured out how to make money on the service, which lets consumers use smart phones to …
Read More »Remain Calm: Mobile Pay Will Boom, but It Doesn’t Warrant a Media Frenzy, Analyst Says
Mobile-payments volume will nearly triple from $51.5 billion this year to $141.7 billion in 2019, according to a new report from Forrester Research Inc. That’s pretty exciting news for payments networks, processors, banks, tech specialists, and others with a stake in the budding sector. But wait. Even with all that …
Read More »Mocapay Seeks Wider Distribution Through a New Link With Merchant Link
By Jim Daly Mocapay Inc., one of the nation’s pioneers in mobile payments, hopes to expand its small footprint through a new distribution agreement announced this week with Merchant Link, a gateway and data-security service owned by JPMorgan Chase & Co.’s merchant-acquiring unit, Chase Paymentech. Founded in 2007, Denver-based Mocapay …
Read More »Mozido Adding More MasterCard Mobile Payments Products
Financial and marketing services company Mozido Inc. says it will use MasterCard Inc. payment and security products to expand its services. Austin, Texas-based Mozido provides mobile payments, loyalty and offers programs to merchants, and has a white-label mobile app. This move means that Mozido products will include MasterPass, MasterCard’s …
Read More »Walgreens Adds Western Union Money-Transfer Services to More Than 7,650 Stores
Finding a kiosk to make money transfers via Western Union Co. has become easier if there is a Walgreens or Duane Reade store nearby. Western Union and Walgreens announced this week a deal that makes Western Union money transfers available at the existing photo kiosks inside more than 7,650 Walgreens …
Read More »Hoping to Boost Volume, Dwolla Debuts A Service That Simplifies Sending Payments
Alternative payment network Dwolla Inc. has added Dwolla Direct, a method for individuals and organizations to send a payment via the network without registering for a full Dwolla account. Instead, they complete an online form that asks for an e-mail address, password, and bank account information. The process takes place …
Read More »Euronet’s Money-Transfer Business Poised To Get a Big Lift From New Wal-Mart Deal
It may be headquartered in Leawood, Kan., but payment-services provider Euronet Worldwide Inc. looks abroad for most of its revenues. Thanks to a new deal with Wal-Mart Stores Inc., however, Euronet’s Ria unit is about to become a major force in domestic wire transfers. Bentonville, Ark.-based Walmart on Thursday unveiled …
Read More »Capital One Buys Into Big Banks’ clearXchange P2P Payment Service
Card issuer and bank Capital One Financial Corp. has bought into the clearXchange person-to-person payment company, becoming the fourth owner. Founded in 2011, clearXchange was started by Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase & Co., with the idea of leveraging a consumer’s existing relationship …
Read More »Square Gets Into the Person-to-Person Payments Arena With its New Square Cash
By Jim Daly In a move that apparently signals its intention to become a more diversified financial-services provider, Square Inc. on Tuesday introduced a person-to-person payments service called Square Cash. The service, which works through email or mobile apps, has no fees for either the sender or recipient and only …
Read More »New Google Wallet Plays Up Loyalty And P2P Payments, Downplays NFC
Google Inc. on Tuesday unveiled a new mobile app for its Google Wallet that emphasizes the wallet’s loyalty and person-to-person payments features that in the past had taken a back seat to its point-of-sale payment capability based on near-field communication (NFC) technology. The app is now available to all smart …
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