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September 3, 2021

On the web

Bank Leumi Signs Deal With Google to Roll Out Digital Wallet in Israel


“Israel’s Bank Leumi announced Thursday that it signed an agreement with Google to roll out Google Pay, the tech giant’s digital payments app for Android users, in Israel. According to the deal, Leumi bank customers will be able to use Google Pay, as well as Leumi’s existing digital wallet, Pepper, to make purchases in stores and online.”

May 24, 2021

On the web

Paytm, PhonePe, Google Pay, Other Mobile Wallets to Be Interoperable From April 2022

Business Today

“The Reserve Bank of India (RBI) has issued a circular asking all licensed prepaid payment instruments (PPIs) or mobile wallets such as PhonePe, Paytm, Google Pay and Mobikwik, to be interoperable from FY23. This implies that beginning April 2022, a mobile wallet user, who is fully vetted and has fulfilled all KYC norms, will be able to send and receive money from various mobile wallets. The central bank added that for card-based PPIs, this can be accomplished through card network interoperability and for e-wallets via the UPI (Unified Payments Interface).”

August 17, 2020

On the web

July 29, 2020

On the wires

Bank of America Expands Commercial Contact-Free Payments

“Bank of America has expanded its mobile wallet capabilities for corporate clients in EMEA and APAC. The bank first launched mobile wallet in the United States and Canada in 2018, and this expansion makes it the first commercial bank issuer to offer the technology to corporate clients worldwide. The bank’s clients who use its Corporate Travel and Purchasing cards in EMEA and APAC are now able to use Apple Pay® and Google Pay® to make and manage card purchases.”

June 26, 2020

On the wires

Boku Partners With LINE Pay Japan to Enable eWallet Payments to Merchants

Boku Inc, a leading global provider of mobile payment and mobile identity solutions, is pleased to announce a partnership with LINE Pay, one of Japan’s largest eWallet and QR code payment service providers. This partnership will allow more than 37 million LINE Pay users in Japan to pay for merchant digital goods and services through the Boku platform. This agreement furthers the extensive depth of payment options for Japanese merchants and consumers alike that no other local payment services providers can match.”

June 10, 2020

On the web

Uber Africa launches Uber Cash with Flutterwave and explores EVs


Uber is launching its Uber Cash digital wallet feature in Sub-Saharan Africa through a partnership with San Francisco-based — Nigerian-founded — fintech firm Flutterwave. The arrangement will allow riders to top up Uber wallets using the dozens of remittance partners active on Flutterwave’s Pan-African network. Flutterwave operates as a B2B payments gateway network that allows clients to tap its APIs and customize payments applications.”

June 4, 2020

On the web

Google and Walmart establish dominance in India’s mobile payments market as WhatsApp Pay struggles to launch


“In India, it’s Google and Walmart-owned PhonePe that are racing neck-and-neck to be the top player in the mobile payments market, while Facebook remains mired in a regulatory maze for WhatsApp Pay’s rollout. Google Pay had more than 75 million transacting users last month, ahead of PhonePe’s 60 million users, people familiar with the companies’ figures told TechCrunch.”

May 27, 2020

On the wires

Introducing Samsung Money by SoFi: Do More With Your Money

“Samsung Electronics America, Inc., today unveiled Samsung Money by SoFi, a new mobile-first money management experience that brings a cash management account and accompanying Mastercard debit card along with exclusive benefits to Samsung Pay, in partnership with innovative fintech company SoFi. The account is secure, with no account fees and rewards users for saving—earning higher interest relative to the national average of transactional accounts. At a time when people are turning to their technology to take care of essential tasks without leaving home, Samsung Money by SoFi makes it easier for them to manage more of their financial life in the Samsung Pay app.”

May 14, 2020

On the web

WeChat Launches Personal Credit Rating for 600m Users

Asia Financial Times

“WeChat Pay has announced a change to its 600 million users. It will now be giving them a credit rating – called “payment points.” These will be calculated by an artificial intelligence system based on consumers’ personal and credit records, plus habits and other factors said to represent users “credibility.” This system will also be applied to people who play online games. Tencent will give users a “trust” value.  A high “payment points” score indicates “deep understanding” of users, and Tencent will nominate users as “trustworthy” or not.”

February 7, 2020

On the web

‘Low KYC’ Norm to Help Mobile Wallets Retain Their Customers

The Economic Times

“In a move set to bring relief to scores of mobile wallet firms such as Paytm, PhonePe, Amazon Pay and their several million users, the Reserve Bank of India (RBI) will allow wallet service providers to continue operating their millions of non-compliant know-your- customer (KYC) accounts which earlier faced cancellation after placing certain transnational limitations.This will be done by a mechanism giving customers an option to convert their ‘minimum KYC’ accounts to the central bank’s ..”

January 28, 2020

On the wires

Apple Pay Coming to Curve Customers Across Europe

Curve , the Over-The-Top banking platform that consolidates multiple cards and accounts into one smart card and even smarter app, today brings its customers Apple Pay, which is transforming payments with an easy, secure and private way to pay. With Apple Pay on iPhone, Apple Watch, iPad and Mac, customers can make fast and convenient purchases in stores, in apps and on websites.”

January 6, 2020

On the web

Westpac Begins Apple Pay Rollout

NFC World

“Westpac, the last of the major Australian banks to hold out against the introduction of Apple Pay, has switched on support for the mobile payments service for customers of three of its smaller brands and has announced it will roll out support to its main customer base by June 2020.”

Retail Store Checkout Will Undergo Massive Changes Soon


“To get more consumers to use them, mobile wallets have to deliver more benefits to consumers and that’s starting to happen now. A company called Popwallet.com has enabled mobile wallets for couponing, discounts and marketing in a way that makes it much more interesting for consumers to use. With Popwallet, a consumer can see an advertisement for a discount on their mobile device and move the discount into their mobile wallet for use when they’re in a store and ready to pay. Marketers whose content has been moved into a mobile wallet can market directly to the consumers whose mobile wallet holds their discount. Both consumers and marketers have incentives to use this technology.”

November 15, 2019

On the wires

Alipay and Worldline to Enable Mobile Payment in Europe for Tourists From All Over Asia

“Alipay, a globally leading payment and lifestyle platform operated by Ant Financial Services Group, and Worldline, the European leader in the payment and transactional services industry, announced the expansion of their long-lasting partnership today. The partnership aims to broaden the acceptance of Asian payment wallets across Europe. As part of the enhanced partnership, Worldline will bring more Asian e-wallet users to Europe by allowing merchants’ point-of-sale (POS) systems to accept not only payments from Alipay’s proprietary wallet, but also from Alipay’s e-wallet partners across Asia. This multi-wallet acceptance will mean that merchants across Europe will see increased footfall and spend from tourists from all over Asia.”

October 23, 2019

On the web

October 8, 2019

On the wires

Global Payments Expands Its Mobile Integration Payments Solution to Samsung

“Samsung smartphone users with Samsung Pay eligible devices will be able to access an auto-provisioned prepaid card called Samsung Pay Cash. This Netspend mobile-integrated digital Mastercard allows smartphone users to establish a digital prepaid card within their mobile wallet to hold funds for a variety of use cases, including spending and budgeting. The prepaid card also uses Mastercard token services that enable users to store and use the card without ever exposing card details to ensure safety for digital payments.”

October 1, 2019

On the web

How I Survived a Week Without My Wallet

The New York Times

“Turns out, my smartphone can do almost everything my wallet can do, from paying at restaurants to renting a bike, to even getting into a hotel room. And by the end of the week, I saw an added benefit for my future travels: I don’t have to bring my wallet everywhere. And imagine being wallet-free at tourist attractions teeming with pickpockets or wearing a cute nightclub dress with no pockets.”

September 11, 2019

On the web

September 5, 2019

On the web

July 17, 2019

On the web

LG Pay Goes Live in the US With NFC and Mag Stripe Mobile Payments

NFC World

“LG has launched its LG Pay mobile payments service in the US, enabling owners of its G8 ThinQ smartphone to make payments via NFC in stores equipped with a contactless POS terminal — and in stores with a magnetic stripe terminal using Wireless Magnetic Communication (WMC). WMC enables phones to generate wireless magnetic data pulses that can be transmitted over-the-air to traditional magnetic stripe readers and was developed by US-based Dynamics Inc.”

June 18, 2019

On the web

Mobile Payments up but Pace of Growth Slows

Roll Call

“Payments made through mobile apps like Apple Pay are rising, but at a slower rate than in past years, according to a report by the Electronic Transactions Association. U.S. consumers spent $64 billion through mobile wallet apps or dedicated apps from a retailer last year, up from $45 billion in 2017, the ETA said. The 42 percent rate of growth in 2018 was down from 51 percent in 2017. The pace is expected to slow to 37 percent in 2019, resulting in $88 billion in consumer spending by such means.”

June 3, 2019

On the web

Under-the-radar Payments App True Balance Just Clocked $100M in GMV in India


“Away from the limelight of urban cities, where an increasingly growing number of firms are fighting for a piece of India’s digital payments market, a South Korean startup’s app is quietly helping millions of Indians pay digitally and enjoy many financial services for the first time. The app, called True Balance , began its life as a tool to help users easily find their mobile balance, or topping up pre-pay mobile credit. But in its four-year journey, its ambition has significantly grown beyond that. Today, it serves as a digital wallet app that helps users pay their mobile and electricity bills, and it also lets users pay later.”

May 22, 2019

On the web

Australian ‘Big Four’ Bank NAB Adopts Apple Pay, Westpac Lone Holdout


“NAB announced the arrival of Apple Pay in a tweet posted to the bank’s official account. “It’s here. NAB customers can now use Apple Pay. Just add your NAB Visa Card and start using Apple Pay wherever you can tap and pay. Apple Pay with NAB. Easy,” the tweet reads. Along with the announcement, an accompanying link points to a comprehensive mini-site detailing the service. Customers are provided information regarding compatible devices, credit and debit cards and a quick setup guide for iPhone and Apple Watch.”

May 15, 2019

On the web

Apple Pay Now Accepted for ITunes, App Store, Apple Music, and ICloud Purchases in Some Countries


“This functionality is rolling out as a server-side change in the United States, Canada, Australia, Singapore, Hong Kong, Taiwan, Russia, Ukraine, and the United Arab Emirates, so it is not available for all users yet. In the United States, users can also link an Apple Pay Cash card to an Apple ID account. There are a handful of benefits to Apple Pay billing for Apple ID account-tied purchases, including the ability to conveniently add multiple credit or debit cards, the improved security of Apple Pay, and the ability to better manage Apple Music and iCloud storage subscriptions from the Wallet app.”

May 8, 2019

On the web

Facebook picks London as base for WhatsApp push into payments

Financial Times

“Facebook has chosen London as the centre for a push into payments on its WhatsApp messaging service, boosting the city’s hopes of becoming a global fintech hub and signalling the company’s commitment to monetising the fast-growing platform. The app, which has 1.5bn users globally, will expand its workforce by a quarter with the hiring of about 100 people. Most of the software engineers will be hired in London with additional operations staff hired in Dublin.”

May 1, 2019

Top Post

Apple Pay on Track To Hit 10 Billion Transactions in 2019

Digital Transactions

“Boosted in part by transit systems and other merchants adopting contactless payments, the Apple Pay mobile-payments service had another quarter of record volume and is heading for a milestone this year, Apple Inc. chief executive Tim Cook said Tuesday. “Apple Pay transaction volume more than doubled year-over-year, and we are on track to reach 10 billion transactions this calendar year,” Cook said on the iPhone maker’s quarterly conference call with analysts.”

April 4, 2019

On the web

80 Percent of Merchants in Canada Accept Apple Pay


“During the company’s Show Time event keynote, Apple CEO Tim Cook revealed that 80 percent of retailers in Canada accept Apple Pay. In comparison to other countries, Canada stands in the middle of the pack. In the U.S., for instance, 70 percent of merchants accept the mobile payments platform, while in Australia an impressive 99 percent of retailers take advantage of the platform.”

March 21, 2019

On the web

EBay Adds Google Pay As New Payment Option


“The company said Thursday it will let customers pay for items using Google Pay starting in April. The move continues eBay’s effort to become less dependent on PayPal to process its payments. eBay and PayPal, once part of the same company, split in 2015. Since then, both companies have worked to diversify their businesses and avoid relying as much on each other. eBay last year added Apple Pay as a payment option, and it will start processing more of the credit and debit card payments on its site without PayPal. These”

March 20, 2019

On the web

Xiaomi Introduces Own Mobile Payment Service in India

Electronic Payments International

“Chinese smartphone maker Xiaomi has launched its own mobile payment service Mi Pay in India. The Chinese firm received regulatory approval to introduce the service in December last year. The Unified Payments Interface (UPI)-based payments application will enable Xiaomi users to send money to any UPI address and bank account in the country.   Furthermore, the payment app, according to the company, would be available for all Xiaomi smartphones running its proprietary MIUI OS based on Android.”

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