Apple Pay comprised 92 percent of US mobile wallet transactions last year

Mobile wallet transactions - 92%

A recent Pulse study showed that the iPhone maker’s app easily dominated smartphone payments. Apple Pay was by far the leader in mobile wallet transactions in 2020, which was in itself a critical year in smartphone-based payments growth. Last year was a critical one in the expansion of this payment method due to the pandemic. As consumers across the United States sought more contact-free payment methods, they looked to their phones to complete their purchases using mobile wallet transactions. Among those who did, Apple Pay was used 92 percent of…

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Google Pay, Apple Pay and mobile payments are ubiquitous except in smaller areas

Mobile payments - paying with mobile - NFC

It may seem that smartphone transactions are everywhere, but small communities are being left out. Being able to accept mobile payments through services such as Apple Pay and Google Pay have offered powerful advantages to both businesses and customers, but research is showing that smaller communities are being left out of this benefit. Despite widespread recognition and adoption, contactless smartphone payments are limited in small communities. Though the use of mobile payments in small communities and rural areas isn’t non-existent, it remains limited at best. The businesses offering these transactions…

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Banco Santander launches CashFlow Manager app using QR code scans

QR code - scan - app

The UK application is meant to provide businesses with instant access to payments collection. Banco Santander has started rolling out its new CashFlow Manager app in the United Kingdom, making it possible use a QR code to collect payments from customers. The app was developed as a part of a partnership between Banco Santander and fintech tomato pay. The CashFlow Manager app lets Santander’s clients in the United Kingdom that use the app link and view their banking details for as many as 98 percent of the banks in the…

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New PayPal mobile wallet app is ready for its big debut

Mobile wallet app - PayPal app on phone

The completely overhauled “super app” will include all new options, services, and messaging. PayPal has given the go-ahead to move toward the launch of its newest mobile wallet app, which is expected to come with a full spectrum of additions. This digital payment application is now considered to be “code complete,” said the PayPal CEO. Dan Schulman, PayPal CEO, discussed the new mobile wallet app during the second quarter earnings call last week with investors. He called the application “code complete” and said that PayPal was preparing for a slow…

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Mobile wallets using NFC technology need new regulations, says Dutch market authority

NFC technology - mobile wallet payments

The Netherlands Authority for Consumers and Markets wants updates to contactless technology access regulations. Dutch market authority Netherlands Authority for Consumers and Markets (ACM) is calling for new rules to control anticompetitive practices in NFC technology using mobile payments apps such as Apple Pay. The ACM is seeking changes to the rules following an access investigation it recently conducted. The ACM issued a media release in which it stated its concerns regarding NFC technology mobile payments apps access and making a call for a change in regulations. “The Netherlands Authority…

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