Contactless payments to account for 1 in 3 in-store transaction by 2020, report

contactless payments - debit machine

Payment cards and mobile wallets will reach $2 trillion in two years. Worldwide, in-store contactless payments transactions will exceed $1 trillion for the first time this year. This is according to recent data published by Juniper Research. The leading fintech analysts also estimate that, globally, in-store contactless monetary transactions will hit $2 trillion by 2020 and will represent 15 percent of the total point-of-sale transactions. Both card payments and mobile wallets are expected to drive the growing use of these payments. Even though both of these contactless payments will be…

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Chinese QR codes remain head and shoulders above NFC technology

Chinese QR Codes - Mobile Shopping and Mobile Payments

When it comes to m-commerce and mobile payments, consumers in China prefer quick response codes. Despite the fact that mobile payments based on NFC technology are present, Chinese QR codes remain most popular. Apple Pay, for example, didn’t make it into the country until 2016. This gave quick response codes lots of extra time to make it into mainstream use. Mobile payments are commonly used in China, but NFC isn’t the top tech. Two mobile payments services had been available for quite some time and used QR codes. Tencent launched…

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Alphabet streamlines its mobile wallet app for improved offering

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Android Pay and Google Wallet will soon be combined into a single Google Pay service. Alphabet Inc. has announced that its mobile wallet app offerings will soon be streamlined into a single service. It will be bringing its Android Pay and Google Wallet into a single brand, which it will call Google Pay. The goal is to make it easier for users to make mobile payments using information saved into their Google Account. “With Google Pay, it’ll be easier for you to use the payment information saved to your Google…

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Apple mobile payments is finally taking off and making a difference

Apple mobile payments - Apple Pay

Some firms are speculating that the acceptance of this tech could permanently change the face of retail. Apple mobile payments have been struggling to take off and have not met the performance expectations of many people in the commerce and tech industries alike. That said, it does appear as though Apple Pay is finally taking hold and now that it has, it’s rapidly gaining strength. Mobile wallets were only a concept only a few years ago, and many wondered what Apple would contribute. As the iPhone maker aimed to diversify…

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Android Pay gives Japanese consumers a new mobile wallet option

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The payments app has now arrived in Japan and will be available at over 470,000 shopping locations. Japanese consumers with smartphones powered by Google’s mobile operating system will now have access to Android Pay. The mobile wallet will bring them access to smartphone payments at over 470,000 locations in Japan. Anywhere that already accepts Rakuten Edy e-money will now also accept Android’s mobile wallet. A Google statement pointed out that Android Pay will become an alternative to the prepaid Rakuten Edy service. This is only the most recent attempt the…

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Chase Pay QR codes has won over Walmart when Apple Pay didn’t

chase qr codes Walmart Pay Mobile Payments app

The bank has announced that it will be launching its mobile payments in the U.S. retail stores next year. Chase Pay QR codes will be among the mobile payments options available at Walmart locations in the U.S. next year. This mobile wallet will be worked into Wamart’s own app. Customers will be able to use it to make in-store purchases with Chase Visa and debit cards. Instead of relying on NFC technology, this mobile wallet uses QR codes shown at the checkout counter. To pay for a purchase, users display…

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Apple Pay Russia has now launched

apple pay russia iphone mobile payments

The iPhone maker has rolled out its mobile payments software in the country, extending its global reach. Apple Pay Russia has now been launched as the iPhone maker brings its mobile wallet to the Russian population. This has allowed the American tech giant to extend the worldwide reach of its digital payments service. This has made Russia the tenth nation where Apple Pay transactions can be accepted. Among the other countries where these mobile payments are available include the United States, Canada, and Great Britain. It was originally launched in…

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Apple Pay security would “fundamentally diminish” with banks

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The company won’t budge despite pressure from Australian banks to add wallet apps to iPhones. Australian banks have been coming together to try to pressure Apple to include their products on iPhones. However, the American company has insisted that Apple Pay security would suffer if it were to add mobile wallets from the banks. The company is standing firm against the three banks. Apple has opted not to give the banks access to the NFC chip used by its own Apple Pay wallet. The three banks wanted iPhone users to…

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Apple Pay app now in France and Hong Kong

iphone Apple Pay App

The iPhone mobile wallet is now available in a total of nine countries around the world. The Apple Pay app has now been launched in both France and Hong Kong. This brings the total number of countries around the world accepting this mobile wallet to nine. The most recent launch arrived in France but was followed by Hong Kong later that day. The official Apple mobile payments service website for France shows several compatible credit cards. The French Apple Pay app website shows compatibility with: Visa and MasterCard credit and…

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Mobile payments trends are seeing growth held back by biometrics

Mobile payments trends wallet

The technology to scan various body parts such as eyes and fingerprints may be too challenging to keep up. While it had looked as though mobile payments trends might have the potential to take off with rapid growth as more consumers look to their smartphones to replace their use of credit and debit cards, adoption has essentially flat-lined. This, despite the fact that industry giants such as Samsung and Apple have leapt into the market. Even with the best efforts of some of the largest tech giants in the world,…

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Apple Pay in Canada gets a huge boost as all Big 5 banks prepare for launch

apple pay in canada

Mobile payments are on the rise among Canadian consumers and they’re about to gain access to a large player. The entry of Apple Pay in Canada has now been announced and consumers in that country will be able to take advantage of that mobile payments service, as long as they have a compatible iPhone and an account with one of the Big 5 banks in the country. All five of the largest Canadian financial institutions have announced that they were preparing for the service. As of Tuesday, all major credit…

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