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Leading payment card network Visa Inc. on Tuesday announced three initiatives to spur adoption of so-called EMV contact and contactless chip cards and near-field communication (NFC) mobile payments in the U.S. Observers hailed Visa’s action, but noted that a full move to EMV and NFC mobile payments in the U.S. …
Read More »Smart Phones Sell Like Hotcakes, But Mobile Banking Cools off
n That’s the conclusion of a report released this week by Javelin Strategy & Research, Pleasanton, Calif. In it, Javelin analyst Philip J. Blank notes that mobile-banking adoption among smart phone users has leveled off even though consumers continue to snap up the gadgets at a furious rate. A …
Read More »Isis Now Counts Visa, MasterCard, Discover, And AmEx As Network Partners
Rebounding after abandoning plans to build a proprietary merchant network, the Isis mobile-payments joint venture of three leading telecommunications companies on Tuesday said it had enlisted the support of the four major general-purpose card networks in the U.S. The announcement marks an advance by the venture backed by AT&T, …
Read More »Rosy Predictions Aside, Mobile Payments Boom Still Years off, Experts Say
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Read More »PayPal’s Slick New NFC-Based P2P Tech Could Be Prelude to POS Play
PayPal Inc. this week demonstrated its slick new person-to-person payments option for Android smart phones equipped with near-field communication (NFC) technology. The demo gave birth to a crop of headlines in online tech publications, but the new service may be little more than a prelude to bigger things PayPal …
Read More »With $5 Million Round, Mobibucks Is Latest NFC Alternative to Draw Investors
While point-of-sale payments using near-field communication (NFC) technology appear to be drawing closer, systems that let consumers make mobile payments in stores without NFC are drawing investor interest. This week, Mobibucks, a Louisville, Ky.-based startup, announced a $5 million Series A funding round led by Acadia Woods Partners. The …
Read More »Why a Florist in Austin Could Portend a Rosy Outlook for Isis
n Mike Martinez, co-owner of Ben White Florist Inc. in Austin, Texas, says the lack of NFC-enabled smart phones in the U.S. is not an issue for him. He notes the rapid technological evolution of smart phones and the frequent upgrade cycles of consumers. “It will take some time, …
Read More »Discover Chief Says Pulse Has Beefed up for Expected Durbin Volume
With final debit card regulations at hand that will end exclusive partnerships between payment networks and debit card issuers, the head of Discover Financial Services says his company has added capacity to its Pulse electronic funds transfer network to handle anticipated new business. n Nelms was responding to a question …
Read More »VeriFone Sees a Potential Bonanza in Mobile Wallets Tied to NFC
Bullish on the prospects of electronic wallets residing on smart phones equipped with near field communication (NFC) chips, leading point-of-sale terminal maker VeriFone Systems Inc. says that topline revenues from software, services, and equipment for NFC wallets could increase in the United States between $100 to $150 million, and …
Read More »Google’s NFC Entry Impresses Experts, But Leaves Key Questions Unanswered
Google Inc.’s entry in mobile payments and marketing, which the online search titan unveiled last Thursday, swept many observers off their feet with its comprehensive roundup of key players but also left a number of crucial questions unanswered. Experts agree, though, that the uncertainty swirling around these questions only underscores …
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