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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