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Mobile and Emerging Payments

smartphone_app
03.23.17

Proposed M-Wallet Rules Don’t Hinder Samsung Pay Launch

While the Indian government works toward a digital economy, the Reserve Bank of India is soliciting feedback through March 31 on guidelines for prepaid payment instruments that could adversely affect issuers of prepaid products, including mobile wallets.

Online-Store-shop_icon
03.21.17

Walmart Pushes Omnichannel Shopping with New Tech Incubator

Walmart recently announced another step toward further developing its e-commerce business with the creation of a technology incubator called Store No. 8 to create new retail online businesses as well as help the retail giant better compete against Amazon.com.

internet-icon_globe
03.21.17

Illinois Regulator Joins Global Virtual Currency Consortium

The Illinois Department of Financial and Professional Regulation has become the first U.S. regulatory agency to join the R3 Consortium, a global partnership of banks and other parties working to develop distributed ledger-based applications for financial services. The agency oversees the regulation and licensing of banks and financial institutions, among other businesses, in the state.

P2P open
03.16.17

India to Open Payment Interface, Ease Transactions between M-Wallets

As India’s war on cash wages on, mobile wallets continue to reap the rewards. Although some experts suggested the advent of the Reserve Bank of India’s Unified Payment Interface platform could make mobile wallets obsolete, a new plan for interoperability could be a boon for Paytm, MobiKwik, Freecharge and other mobile wallet providers.

discover_mobile_shopping
03.16.17

Consumers Are Open to Payment Innovation, But First Improve Existing Tools

Retail transactions promise to become more vocal and mobile in 2017, according to a new U.K. survey report. Even so, the mainstreaming of chat bots and other new tools appears a while off, given the relatively low level of awareness enjoyed by those innovative technologies.

exxon_speedpass
03.15.17

Fill ’Er Up: Samsung Pay Is Now Good at ExxonMobil Stations

Samsung Pay took another stride this week, with ExxonMobil announcing that its customers can now use the mobile wallet at the pump to pay for gas. This expansion comes only months after Samsung launched a points-based rewards program for Samsung Pay.

Android gmail-google-wallet crop
03.15.17

Do Collect $200 on Android, Don’t Get Out of Gmail

Google has revealed that Android payments can now be made within the Gmail app. Whether it’s splitting a dinner bill or planning a group trip, the service offers a fee-free way to work out the details and settle up without leaving the Gmail app on Android.

chase_pay_image
03.13.17

Chase Pay Acquires MCX Mobile Payments Technology

Another bell has tolled for the mobile payment service operated by the nearly 3-year-old MCX, a consortium of large retailers. JPMorgan Chase, whose own Chase Pay mobile wallet has been making serious strides, has acquired the technology that underpins CurrentC, the MCX mobile payment product that never went beyond pilot stage.

monopoly_income-tax-refund_yellow
03.13.17

Acquisitions Drive Record Start for Meta’s Tax Business

Meta Financial Group’s heavy investment in the tax refund space is paying dividends, with the company’s MetaBank subsidiary originating a record $1.26 billion in interest-free tax advance loans between Dec. 12, 2016, and Feb. 28, 2017—up from less than $100 million in advance loans during last year’s tax season, according to the parent company.

technology visa
03.08.17

Abu Dhabi, Singapore to Promote Fintech Innovation

The Monetary Authority of Singapore (MAS) and Abu Dhabi Global Market (ADGM) have signed an agreement to assist fintech entrepreneurs and support financial services innovation in Singapore and Abu Dhabi, according to Paybefore sister publication Banking Technology.

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