China
People’s Online Daily is reporting that online electronic payment transactions carried out on Chinese mobile payment providers is expected to be above 9 Trillion yuan, which is $1.45 Trillion in U.S. Currency. China’s mobile electronic payments in 2012 were at 800 billion yuan. That sets an increase in mobile payments made on smartphones and tablets at 265% over the previous year. With more and more Chinese citizens coming online analysts say that the steady growth in the mobile payment landscape is expected to continue to rise well into 2020. Last year, mobile electronic payment transactions rose 66% to nearly 3.7 trillion yuan. Read more of this article »
Posted in Mobile Payments Tagged with: China, Digital Wallet, electronic payments, Illinois, India, mobile payment, mobile wallet, Processing, transactions
Areas Include:
MasterCard, American Express, Discover
A new report shows that American Express, MasterCard, Capital One, Discover and Western Union were focusing on electronic transaction processing. While American Express Company (American Express) recently announced a new executive vice president and a new chief financial officer. Read more of this article »
Posted in Mobile Payments Tagged with: Digital Wallet, e-commerce, electronic transaction, gift, loyalty, m-commerce, mcommerce, mobile point of sale, MPOS, point of sale, POS, rewards
In discussions about merchant service providers, Square and PayPal entering talks is a given. Sqaure offers free credit card readers to entice merchants to switch their credit card processing to them. PayPal recently launched an initiative to expand it’s reach into retail stores and offers to waive processing fees through 2013. With the coming rush to mobile transaction processing more companies are entering the fray. AT&T, Verizon, T-mobile and Sprint are looking to get into the credit card transaction processing gig as they already carry that data over their cellular networks. ISIS Wallet and Google’s digital wallet bring credit card transactions to Android smartphones and tablets, and Visa is expected to launch its Visa Ready program as it rolls out test merchants. Read more of this article »
Posted in Mobile Payments Tagged with: Android, bluetooth, Chip & PIN, credit card processing, Digital Wallet, EMV, fees, google, ISIS, m-commerce, merchant, merchant account, nfc, payment processor, PayPal, Rates, Square, transactions, Visa MasterCard American Express
Visa is going all out against cash driving the adoption of mobile payment services. In Europe Visa expects that over 50 million contactless payments will be made each month by years end. Head of Visa’s mobile business Sandra Alzetta expects a wave of NFC enabled smartphones from smartphone and tablet makers such as Samsung, HTC and LG. The European versions will ship with Visa’s mobile PayWave and Mobile wallet services driving their growth in mobile payment services. Read more of this article »
Posted in Mobile Payments Tagged with: Digital Wallet, HTC, LG, nfc, point of sale, POS, Samsung, Visa MasterCard American Express
The SD Association has a new ‘smart’ idea. New Micro SD cards, popular for use in Android smartphones and tablet devices, will soon be available. The new MicroSD cards will carry the NFC Secure Element which allows Near Field Communications smartphones communicate with a chip on the Micro SD card. These are mainly used in a digital wallet for electronic transactions known as m-commerce. The new SD Cards also support on-board applets for smartphones as well.
Many newer phones are shipping with NFC Radios mainly used with digital wallets. For security, Near Field Communication requires a special authentication method prior to encrypted communications. Now that can be be placed on a Micro SD in addition to additional memory for the smartphone or tablet. The card can also store small digital wallet applications for digital payments when combined with an NFC enabled phone or tablet. These are seen by consumers as a way to ditch plastic cards in favor of digital wallets, and you can also transfer the electronic wallet to different devices as you please.
Additionally the SDA supports Micro SD cards that have both the Secure Element security chip on board as well as a Near Field Communications Radio on the chip to give NFC capabilities to devices that don’t come with the technology. Changing devices seems even easier with these cards as they enable NFC on multiple devices as the user transfers the card. If the MicroSD card owner switches cellular carriers, the card can easily go from the old phone to a new one and the digital wallet user never skips a beat.
The SD Association claims that microSD cards account for 95% of all mobile memory card shipments and that 78% of all mobile phone shipments today have the microSD memory card slot. With the latest round of MicroSD cards with NFC radios and without, they hope new e-commerce and m-commerce applications are built to run on the memory cards. This greatly levels the playing field from vendor lock in as both cell phone carriers and device makers have their own aspirations toward digital payment systems.
Posted in smartSD Cards Tagged with: Android, Digital Wallet, e-commerce, m-commerce, Micro SD, microSD, near field communications, nfc, radio, Security, smartphone, smartSD Cards, tablet
