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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Facial ID proves unpopular among consumers as a mobile payment security verification

iphone facial ID selfie

A new Juniper Research study revealed that over 40 percent of iOS users don’t want to use this security tech. More than one in three iOS device users in the United States do not intend to use facial ID technology as a part of their mobile payment security. This, according to Juniper Research survey findings. The findings suggest that Apple’s own customers may not feel comfortable with the new facial recognition tech. Facial ID tech is among the latest Apple releases. However, its own customers seem to find voice recognition…

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Important Visa mobile payments milestone reached in India

visa mobile payment security iphone

The financial giant has announced that it has issued over one million of its contactless cards in the country. Visa recently announced the issuing of over one million of its branded contactless cards in India. These were all issued through eight major banks within the country. These cards function on the same technology as contactless Visa mobile payments. The widespread use of these cards is opening the door for easier mobile payments to be rapidly adopted. There are over 100,000 merchant locations in India that are now set up to…

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Can Google’s mobile payments be made hands-free for Android and iOS?

google hands free mobile payments

The tech giant is now testing out a form of smartphone based transaction completed without lifting a finger. While many people might think that contactless mobile payments using NFC technology is essentially as convenient as transactions can get, as they’re simply a matter of waving a smartphone or wearable tech device (such as a smartwatch) over a reader at a cash register, Google is now looking to boost convenience even further. The search giant is now promoting the use of its Hands Free mobile app to let users pay without…

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Valyou NFC technology based mobile payments is packing it in

Mobile Payments NFC Technology

The smartphone based wallet which is headquartered in Norway has now decided to call it quits. The Norwegian mobile payments service called Valyou will now be shutting its doors as its owners, DNB, Telenor and SpareBank1 have agreed that there simply are not enough NFC technology enabled terminals at merchant checkout counters to make the effort worthwhile. The owners have also agreed that other telcos and banks have not offered the support they had expected. The contactless mobile payments service used NFC technology to allow consumers to be able to…

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NFC technology in the next Samsung smartwatch will allow mobile payments

NFC technology Smart Watch Augmented Reality

A new report from South Korea suggests that the wearable technology will have near field communication tech. Recently, a report surfaced out of South Korea, which indicated that Samsung intends to integrate NFC technology into its next smartwatch, which it intends to release onto the market in the latter half of this year. This near field communication support will make it possible for wearers to use contactless mobile payments. The company’s own mobile wallet service, Samsung Pay, was unveiled in the United States and South Korea back in March 2015.…

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NFC technology based system unveiled for the London Underground

NFC Technology in transportation - Mobile Payments London

As of mid-September, the Transport for London (TFL) will accept contactless payments on all lines. It has now been announced that, beginning on September 16, the TFL will be accepting payments through NFC technology for all London Underground, DLR, and Overground trains. This was announced as the EE mobile operator revealed its intentions to support near field communication payments on London Undergound. The NFC technology will make it possible for customers to simply tap their contactless payment card against the reader device in order to pay for their fares. This…

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Wearable tech from Sony could bring mobile payments to the wrist

Sony wearable tech NFC technology

The company’s FeliCa smartcard chip is being prepared for use in smartwatches and other wearables. Recent technology news reports are now showing that Sony is looking to take part in a whole new level of wearable tech, with the creation of a chip that could allow smartwatches and other devices of this nature to be capable of contactless mobile payments. This could help to convert the wearables industry into products that are more appealing and multifunctional. An option for mobile ticketing and payments could also make the necessary difference in…

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NFC technology based boarding system tests starting at Air France

plane airline mobile technology qr code error

The airline is allowing passengers with enabled smartphones to take part in this trial service. Certain passengers on specific flights with Air France and who own smartphones that are NFC technology enabled will be able to take part in a trial boarding system for a span of six months as the airline tests the program. The near field communication boarding will be available only on flights between Toulouse-Blagnac and Paris-Orly. The service will take advantage of the Touch&Pass app from the airline that will use NFC technology to make it…

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NFC technology payments based on HCE launched by BBVA

Quick Tap NFC technology service mobile payments service

The bank claims to be the first one to have created a service based on these specifications. BBVA, from Spain, has now launched a mobile payments service based on the brand new cloud based specification from Visa for NFC technology transactions that use host card emulation (HCE) tech. Customers of that bank who have NFC enabled Android smartphones will be able to download a new wallet app. If those customers download the updated version of the BBVA Wallet app, then they will be able to use the NFC technology in…

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Mobile payments using NFC technology will reach 300 million users in 3 years

NFC Technology Mobile Payments Infrastructure

This data is according to a recent report that has been issued by Juniper Research regarding near field communication transactions. The new Juniper Research report has suggested that the number of smartphone users that will be making mobile payments through the use of NFC technology, worldwide, will have broken the 300 million mark by the close of 2017. This will represent considerable growth for the transactions as a whole, as well as for this specific contactless tech. To put this figure into perspective, last year, it was estimated that there…

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