Tag: mobile wallets

The Internet of Things is changing the way payments are transacted

Jorge Gonzalez
Internet of Things - Mobile payments IOT

Smart payments and the way they take place is a rapidly evolving ecosystem that isn’t slowing down. The Internet of Things (IoT) is providing enhancements to the entire world in which we live through a rapidly growing spectrum of connected items in our lives. A substantial component of this IoT trend has to do with being able to complete smart payments. Though it feels as though it wasn’t all that long ago that smart payments first came into existence, and for many people, the idea of using wearable technology to…

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Visa and FNBO partner to offer customers a better mobile wallet

Sam Lambert
Mobile wallet - Visa Cards

First National Bank of Omaha and Visa have teamed up to create a digital payment experience customers will like. First National Bank of Omaha (FNBO) and Visa have announced a new collaboration for the purpose of offering customers an improved mobile wallet experience. They announced that it offers instant account credential delivery to the user’s digital account. What makes this mobile wallet experience different is that it doesn’t require users to have to download an app. They will receive instant account credential delivery without needing to add anything to their…

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New cross-border mobile payments agreement between India and Nepal inked

Jorge Gonzalez
Mobile payments - agreement - handshake

The governments have designed an agreement to allow visitors to Nepal to use the digital transactions. The Indian and Nepalese governments have come to an agreement for the launch of a new mobile payments service that will allow visitors to use the option to pay for goods and services. Residents of the countries will be able to use their phones to pay for what they want when traveling. The hope is that the mobile payments option will make it easier for visitors from India to Nepal to travel and pay…

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Last year, the value of contactless payments rose almost 50 percent, says Barclay’s

John Montgallo
Contactless payments - Barclays POS contactless Payments

Users made an average of 220 tap-based transactions last year, totaling £3,327 per consumer. Last year, contactless payments spiked by 49.7 percent based on their total value as people throughout the United Kingdom headed back in-store equipped with tap-and-go technology. The £100 transaction limit appeared to work well for consumers as they shopped in person again. This data was released in a report from Barclays, which transacts almost half the debit and credit card spending across the United Kingdom. It went on to show that a record 91.2 percent of…

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Apple Pay snags 48 percent of mobile wallet use

Jorge Gonzalez
Mobile wallet - Person using Apple Pay

Even with this massive share, its use represents only a tiny fraction of total retail payments. Mobile wallet use is beginning to take off, and Apple Pay is leading the way with a considerable market share. That said, even with such a high position among transactions made via smartphone, it barely represents a sliver of total in-store payments. The use of these payment apps for in-store commerce is rising but is barely there next to cash and cards. The new PYMNTS report titled “Mobile Wallets Adoption: Apple Pay @8 –…

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