American Express has announced that it will be making an important move to widen the reach of its digital wallet, Serve, into the international marketplace. This move makes Amex the first credit card company to launch a global partnership for the digital wallet with Lianlian Group, one of the top mobile payments providers in China. Furthermore, American Express has also invested $125 million in equity into Lianlian Pay. The Serve digital wallet is an integration of a number of different types of payment option into one account for the user,…
Read MoreTag: virtual wallet
Manhattan to host new PayPal pop-up store for mobile payment services
PayPal has just announced that it will be opening a brand new pop-up store in New York City to put the spotlight on new mobile digital payment services that it intends to unveil in the coming months. The new PayPal shop will be located in Manhattan’s Tribeca neighborhood, will open on the first of November and should stay in place for nearly 4 months. The purpose is to give merchants the opportunity to experience this emerging technology for point-of-sale, in a real world, real time environment, The façade for the…
Read MoreNokia seeks to dethrone QR codes, but the expense of NFC technology may prove that effort futile
Despite the growing popularity QR codes have been attaining amongst consumers, the barcodes are losing favor with some companies. Nokia, one of the world’s leading telecommunications companies, is now branding the codes as obsolete. The company has been investing heavily into NFC technology, which allows smart phones and other mobile devices to interact with each other via wireless signals. With Nokia casting aside QR codes, it may signal a major shift in the world of mobile technology is coming. Nokia’s favor of NFC technology stems from the role they play…
Read MoreGoogle Wallet claims to be safer than traditional payment methods
Digital wallets are becoming more popular amongst the tech-savvy. The idea is to store all of your financial data on your smart phone or other mobile device. Using NFC, you can make payments with a wave of your device. The concept seems to have an inherent danger, as anyone could steal the phone like they would steal a credit card. However, several financial and mobile security experts say that digital wallets are actually safer than physical ones. This may be good news for Google as the company begins to release…
Read MoreThree things that have to happen for NFC to take over in the U.S.
With all of the recent hoopla over Near Field Communication (NFC) technology and mobile payment systems; it wouldn’t be fair to make quick judgement, unless we take a look at a few things that are holding up the technology. Most people are gung-ho NFC, but there are still nay-Sayers out there who are saying we won’t see it for at least two or three years. Everyone is all ready shouting about how mobile payments will replace the wallet. It is very exciting technology and the potential it has for other…
Read More