Tag: Mobile payment

How Samsung Plans To Compete Against Apple In Mobile Payment

Posted on by Lab Team

Read original story on: TechCrunch

Look out, Apple Pay! Samsung is entering mobile payment with its acquisition of payment startup of LoopPay. Samsung has stated it will work toward building LoopPay’s technology into future devices, and stressed that a “holistic mobile wallet” based LoopPay’s unique magnetic secure transmission (MST) technology would enjoy wider converge than most mobile payment systems that employ NFC tech, including Apple Pay.

Regardless of Samsung’s self-proclaimed superiority, Apple Pay has already got a great head start, recently entering new territories like vending machines, in-flight purchases, and government agencies. Samsung has a lot catching-up to do if it is serious about competing with the Cupertino rival in mobile payment.

How Credit Card Companies Are Enhancing Payment Security

Posted on by Lab Team

Read original story on: WSJ

Major credit card companies are finally stepping up their game in payment security: Visa is reportedly expanding tokenization to devices beyond iOS ones, and MasterCard plans to spend $20 million on developing biometrics and fingerprint matching to strengthen its mobile payment security.

As mobile payments begin to gain traction, mobile devices now reportedly make up a disproportionate share of up 21 percent of all fraud costs that merchants and card issuers suffered each year. Amid such high fraud concerns, it’s only sensible for credit card companies to beef up their security measures.

What’s Next For Apple

Posted on by Lab Team

Read original story on: The Verge

Coming off its record-breaking fiscal quarter thanks to massive holiday sales and huge growth in China, Apple is gearing up for its upcoming Apple Watch release. According to CEO Tim Cook, Apple’s much-anticipated smartwatch will start shipping in April. He also commented that Apple is encouraged by the positive response from developers so far.

Besides prepping for the launch of Apple Watch, the Cupertino company is also continuing to push Apple Pay into new territories. Over 200,000 vending machines, kiosks, paid parking, and other self-serve locations nationwide will soon start supporting Apple’s mobile payment system, which marks yet another step in its steady expansion in market coverage.

 

Why Loyalty Programs Are The Next Step for Mobile Payment

Posted on by Lab Team

Read the original story on: WSJ Blog

Few major mobile wallet providers, save maybe for LevelUp, have done a great job integrating into store loyalty programs. For now, Apple Pay doesn’t work with corporate credit cards or certain co-branded cards tied to loyalty programs. It is crucial for the mobile payment industry to figure out how to combine those elements in order to create a seamless and rewarding shopping experience on mobile that customers actually love to use.

Event Recap: Retail News From NRF’s BIG Day 2015

Posted on by Lab Team

The NRF’s BIG Day is a little like CES for retail: there are big tech announcements, thought-leading keynotes, and large showcases at New York’s Jacob Javits Center. Here’s a recap of a few of the larger news reveals:

  • NCR is releasing a new touchscreen pay kiosk, called SelfServ 90. With a small and nimble form, it’s meant to upgrade the self-service checkout experience. Wincor Nixdorf also premiered its new moPOS system, as did Panasonic.

  • Panasonic also premiered PowerShelf, an electronic shelving unit equipped with beacons that can be enabled for both advertising and inventory management.

  • Lots of partnerships this week: Samsung is integrating with tagging/payment system PowaTag. Gimbal, which is also premiering its new Series 21 Beacon, is partnering with audio recognition giant Shazam and mobile offers solution Koupon Media.

  • Spearheading the intersection between retail and tech, Intel has a big booth this year. It is showcasing beacon solutions, mobile payments, a Beef-o-Brady tabletop tablet payment implementation for Beef-o-Bready, its SteadyServ iKeg system for intelligent bar inventory, and its Memory Mirror apparel virtualization tech (on display at Neiman Marcus).

  • IBM released a suite of sales apps, called MobileFirst. Developed by Cognitive Scale, the apps will be Sales Assist (for customer acquisition + management), and Pick & Pack (smart inventory via beacon integration).

Stay tuned for more product news—this is only the beginning of retail innovation in 2015.

San Francisco Trials Mobile Payment For Public Transportation

Posted on by Lab Team

Read original story on: Finextra

San Francisco just became the first US city to attempt bringing mobile payment into its public transportation system. The city’s Municipal Transportation Agency (SFMTA) is teaming up with vendor GlobeSherpa’s mobile ticketing platform for a pilot program, set to launch this summer, which will produce a mobile app that reportedly allows users to store a debit or credit card or use PayPal to purchase tickets. If this is successful, we humbly suggest the MTA here at NYC to get on it ASAP.

Best Of The Lab 2014: Mobile Payment Has Arrived

Posted on by Lab Team

With the arrival of Apple Pay, 2014 is without doubt a watershed year for mobile payment. Boosting convenience and security, it is set to transform the very way we buy things in coming years. You can reacquaint yourself with everything you need to know about Apple Pay, before diving into our in-depth mobile payment POV to learn more about the future of payment and commerce.

6 Things You Need To Know About The New “Apple Pay”

Paying with Your Phone: The Present & Future of Mobile Payment

Square To Support Apple Pay Next Year

Posted on by Lab Team

Read original story on: The Next Web

We already knew Square had plans to support chip-based credit cards with its new card readers, but it looks like the payment company will not be competing directly with Apple Pay any time soon. In a recent interview with CNN, Square founder Jack Dorsey revealed plans to accept Apple’s new transaction standard at some point in 2015. Although not confirmed yet, we won’t be too surprised to see Square start supporting other NFC-based systems like Google Waller or Softcard as well.

Snapchat Teams Up With Square To Enter ePayment

Posted on by Lab Team

Read original story on: The Next Web

One step ahead of Facebook’s plan to put payment in its messaging app, Snapchat has teamed up with payment company Square to announced Snapcash, a new service that will allow users to send money to each other via Square’s system without leaving Snapchat. Now when a user signs up for Snapcash, they’ll be creating a Square Cash account at the same time. This partnership could be particularly helpful for Square, which has been trying to stay relevant in the face of the formidable Apple Pay.

For more information on the current state of mobile payment market, download and read our latest POV here.