Contactless mobile payments collaboration forms between CTBC Bank and Soft Space

Contactless mobile payments - Paying with wearable device

The partnership will work as a system used by Taiwanese taxis to make it easier to charge fares. CTBC Bank, based in Taiwan, has entered into a partnership with Soft Space, a fintech from Malaysia, to launch a contactless mobile payments system to be used by cab drivers to collect taxi fares. The system will allow customers with Android smartphones and NFC technology to tap to pay. The contactless mobile payments system will be powered by Soft Space so that Android phone users can pay for their cab rides using…

Read More

Apple Pay snags 48 percent of mobile wallet use

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 –…

Read More

Malaysian mobile payment customers can now use Apple Pay

Mobile payment - Malaysia Flag - Apple - Mobile Payments

The American tech giant has partnered with Standard Chartered Malaysia, Ambank and Maybank. Apple has announced that it has entered into a new mobile payment partnership with Maybank, Standard Chartered Malaysia and Ambank to be able to offer its digital wallet services to customers in Malaysia. Customers who have credit cards issued by those three major banks will be able to use it later in 2022. “Customers with Visa and Mastercard cards from banks including AmBank, Maybank and Standard Chartered Bank can now use Apple Pay, with American Express cards…

Read More

Mobile wallet market to break $16.2 trillion by close of 2031

Mobile wallet - Payments via smartphone

The world is moving evermore cashless, and consumers are turning to their phones for payments. As a growing number of countries worldwide trend toward cashlessness, the mobile wallet market worldwide is seeing striking growth. Even before the pandemic, it was already taking off, but contactless trends sent its use skyward. In 2015, the mobile wallet market was valued at $675 billion. By 2018, it had already risen to 1602.4 billion, and the number has only continued to climb. Among the factors that have helped to drive the use of payments…

Read More

Infineon combines near field communication and system-on-chip for keyless lock

Near field Communication - Unlocking door with mobile phone

The NFC technology and SoC have been paired in what the company is calling a first ever tech. Semiconductor manufacturing company Infineon has unveiled a new keyless lock device that works on near field communication (NFC) and system-on-chip (SoC) technology. The combination makes it possible to unlock padlocks, doors and other locks with mobile phones. According to the company, the future of building security might involve removing keys from the mix altogether. It has developed a security solution that requires neither keys nor batteries to make it possible to lock…

Read More