mobile payment adoption Archives

QR code payments framework established by Central Bank of Nigeria

01/20/202101/19/2021 Stephanie Beck

QR code payments framework - QR Code - Phone - Nigeria Flag

The CBN has announced that it has created a quick response barcode based transaction standard. The Central Bank of Nigeria (CBN) recently announced that it had established a QR code payments framework to be used as a standard in the country. The CBN explained that the guidelines align with its strategy for financial system safety and stability. The CBN specified that the new QR code payments framework is an important part of its overall mandate for making certain that the Nigerian financial system remain stable and safe. These guidelines are…

Did restaurant mobile payments become mainstream this year?

12/12/201712/09/2017 L. Green

According to First Data Corp, smartphone based transactions hit a tipping point with a 75 percent growth rate. Following an exceptionally slow rate of adoption over the last few years, restaurant mobile payments are finally starting to catch on, particularly in the quick service industry. This year saw an impressive growth rate and it is expected to continue in this strong and positive direction. Payment technology company, First Data Corp, reported a massive rise in smartphone transactions. Quick service restaurant mobile payments were especially high performers, according to the firm’s…

Mobile payments growth gap barely there between millennials and older generations

07/28/201707/26/2017 Jennifer Goula

Visa has been taking aim at Singapore for the creation of a cashless society, with surprising findings. Visa’s effort to turn Singapore into a cashless society has centered heavily around promoting mobile payments growth. The credit card giant recently released its Consumer Payment Attitudes Survey 2016, revealing some unexpected data. It came as little shock that Singaporeans are embracing mobile payment transactions for many purchases. Singapore mobile payments growth has been greatly driven by the willingness of the people to use their smartphones for on demand services as well as…

Retail mobile payments implementation aren’t living up to intentions

06/01/201705/31/2017 Sam Lambert

A recent AMEX survey showed a considerable gap between a company’s plans and actual execution. AMEX recently held a survey looking into the intentions and implementation of retail mobile payments. The research showed that Canadian retailers have a considerable gap between what they plan to do and what they’re actually doing. The AMEX survey showed that 76 percent of merchants believed that m-commerce is “the way of the future.” That said, Canadian businesses aren’t actually implementing the retail mobile payments into their own operations, for the most part. “There seems…

American mobile payments infrastructure half a decade behind India’s

05/19/201705/17/2017 Jesse Collins

mobile payments infrastructure adoption trends

Ezetap CEO, Bobby Bose, recently stated that the Indian systems are “five years ahead of the U.S.” The American mobile payments infrastructure is far from a global leading marketplace, according to recent Ezetap CEO statements. The head of the Indian mobile payment firm, Bobby Bose, said that his home country’s infrastructure “is probably five years ahead of the U.S.” India is undergoing a massive shift toward the digital marketplace and most consumers are choosing mobile. “India is going through a digitalization of almost everything. It started with commerce, went to…