Alipay mobile wallet launches Wuhan merchant recovery effort

Alipay mobile wallet - shops and hotel in China

The top m-payment provider in the world is implementing several local assistance strategies. As Wuhan re-opens after having been the heart of the COVID-19 pandemic, Alipay mobile wallet is moving forward with a number of measures to help local merchants recover. The m-payments giant has 900 million direct customers and is launching new assistance efforts. Alipay mobile wallet is owned and operated by Ant Financial Services Group. It has 900 million direct customers. It recently created a special page on its smartphone app. This page is meant specifically to identify…

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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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India mobile payments take off as large bank notes disappear

India mobile phone manufacturing

The country recently shocked its citizens by getting rid of its largest paper currency, causing a cash crunch. As the country scrambles in a massive cash reduction, India mobile payments are taking off as an alternative. Mobile wallets have received an almost instant shot in the arm with the surprise notice of the disappearing bank notes. Some mobile payment providers have already reported record breaking numbers over the last few days. Paytm, for instance, the largest India mobile payments firm, reported more than seven million transactions on Saturday alone. This…

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Peer to peer mobile payments starting to make US smartphone transactions relevant

young women teens peer to peer mobile payments

Though the majority of consumers have yet to start paying for products with devices, they are showing interest. Recent figures show that peer to peer mobile payments are starting to give smartphone transactions a boost in the US. That category of mobile wallet use is seeing the most rapid growth by far. In store mobile payments to purchase goods and services are still seeing notably slower growth. Peer to peer mobile payments has remained the category of transactions consumers in the US are most likely to use on their devices.…

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“Selfie Pay” mobile payments to roll out from MasterCard

NFC mastercard Facebook Messenger QR codes

A new form of verification is going to be launched in order to help to ensure transactions are secure. MasterCard has now revealed that it will be using its investments into facial recognition tech as a part of its mobile payments verification systems in order to help to make smartphone based transactions more secure. The goal is to decrease the risk of falsely declined transactions while boosting security when using mobile wallets. Trials of this mobile payments verification version using “Selfie Pay” have already been conducted in the Netherlands and…

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