Tag: nfc technology

Tech giants play substantial role in mobile payments

Jorge Gonzalez
Mobile payments - POS Terminal paying with phone

A new CFPB report underscores the influence of such players as Apple and Google. The Consumer Financial Protection Bureau (CFPB) has issued a new report underscoring the impact of tech giants, their policies and practices on mobile payments adoption, use, and trends. This is particularly true of technology allowing tap-to-pay functionality on smartphones and watches. The way these companies choose to behave has had a direct impact on access to mobile payments. For instance, Apple currently bans payment apps and banks from being able to access the Apple iOS device…

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Tech giants play a substantial role in mobile wallets innovation and competition

Stephanie Beck
Mobile wallets - Apple and Google logos

Apple and Google were considerable players in establishing tap-to-pay regulations and technology. A new Consumer Financial Protection Bureau (CFPB) report has placed the spotlight on the way mobile wallets are impacted by the policies and practices of tech giants. This is particularly true when it comes to the way that smartphones and wearables are used to transact. For instance, Apple currently has a ban on bank and payment apps from being able to access the Apple iOS device tap-to-pay functionality, setting fees for mobile wallets through Apple Pay. On the…

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NFC tags are becoming more popular among fashion brands

Jorge Gonzalez
NFC Tags - Adidas Shoes

Near field communication technology is being used to boost value and exclusivity for customers. Fashion NFC tags have come a long way since the first time Adidas used the technology for its shoes in 2014. Now, almost a decade later, brands are seeking to provide customers with an expanded digital experience using near field communication technology. The tech has become essentially ubiquitous in web3 ecosystems and among luxury brands. While NFC tags have become quite commonplace, not all brands that have invested in the technology have successfully integrated them into…

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Stripe rolls out tap mobile payments for NFC-enabled Android devices

Sam Lambert
Mobile payments - tap payments

The service, already available for Apple device users since last year, is now widening its reach. Stripe has announced that it is expanding its Tap to Pay mobile payments feature to Android devices that are enabled with near field communication (NFC) technology. The financial services company was the first company to become a Tap to Pay partner with Apple. The partnership between Apple and Stripe made it possible for any NFC enabled Apple device – from the iPhone to the Apple Watch – into a device that can be used…

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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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