digital payments Archives

Mobile wallets see a decline in top-ups in some regions

08/14/202308/10/2023 Jennifer Goula

As popular as these digital payment methods have become, they are declining in the Bahamas. In the Bahamas, the use of mobile wallets has become commonplace, but over the first five months of the year, a declining trend was recorded in top-ups. The decline wasn’t a slight one, it was practically a freefall in the amount of money topped up. During the first five months of 2022, top ups to mobile wallets reached $38.4 million. During the same period in 2023, that figure reached only $7.1 million, a fraction of…

4 out of 5 millennials pay bills using mobile wallets

06/23/202306/22/2023 Stephanie Beck

Mobile wallets - Payment Made - Thank You

While many people have already been paying their bills online, this generation is looking to phones. As bills have become mainly digital, millennials in particular are looking to their phones to make their payments and are choosing mobile wallets as their preferred payment method. According to new research, a massive 80 percent of millennials prefer this bill payment method. The research was conducted by PYMNTS. What it found was that mobile wallets have been driving the trend toward bill payments online, particularly on phones. It also found that among people…

JP Morgan acquires Renovite in new cloud payments strategy

09/15/202209/14/2022 Jennifer Goula

The banking giant recently announced the new acquisition and hinted at future plans. JP Morgan hasn’t failed to notice the massive trend toward digital transactions worldwide since the start of the pandemic, and with its new acquisition of Renovite, it’s clear that it is making moves into cloud payments. Digital has become vital to the fast pace of the global financial service sector. Institutions like JP Morgan are being forced to update their transaction infrastructures to keep up the rising volume of digital and cloud payments demands from both individuals…

Most cryptocurrency owners would use it to buy things through a mobile wallet

02/08/202202/07/2022 Sam Lambert

Mobile wallet - Cryptocurrency - Bitcoin - Mobile

Over one third of crypto-owning consumers aged 18 to 54 would shop with their digital coin. About 67 percent of cryptocurrency owners between the ages of 18 years and 54 years old would use their digital coin in a mobile wallet to make purchases, according to a Cantaloupe Inc. study. The digital payments company’s survey showed that consumers most likely to own crypto coin are 18 to 34. Thirty seven percent of crypto owners are 18 to 34 years old, and 33 percent are aged 35 to 54 years old.…

QR code payments at PayFast up by 412 percent

03/23/202103/22/2021 Sam Lambert

The digital payment processing company based in Cape Town has seen an explosion of barcode use. PayFast, a digital payment processing service based in Cape Town, South Africa, has reported a rise of 412 percent in its QR code payments. These transactions were processed via Masterpass from March 2020 through February 2021. The extreme growth trend is seen as the result of the pandemic’s instant need for contact-free transactions. The rise in QR code payments, usage in general and scans has risen quickly as the pandemic required businesses and consumers…