On The Web

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Global

Mobile wallet transactions hit new peak in October: RBI

December 6 2018

• in
• India

“Transactions through mobile wallets hit an all-time high in October, both in terms of value and volume. Around 368.45 million transactions worth Rs 18,786 crore took place in October, compared with 324.16 million transactions amounting to Rs 15,102 crore in September, according to data released on Thursday by the Reserve Bank of India (RBI). The second […]

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Global

Mastercard bids to bypass own rails with Pay by Bank app promotion

December 5 2018

• in
• Faster payments
• UK

“Mastercard has recruited PPRO Group to help push the uptake of of its Pay by Bank app to merchants in the UK. Pay by Bank enables customers of UK businesses to make online payments for goods and services via their banking app, and directly from their bank account. The app was developed by Zapp, a unit set […]

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Global

Over 62,000 stores nationwide to implement Zero Pay system

December 4 2018

• in
• QR codes
• South Korea

“More than 62,000 stores will join the Seoul Metropolitan Government’s move to implement “Zero Pay,” a QR code-based transaction platform that is aimed at reducing the financial burden on small businesses that pay transaction fees to credit card companies.”

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Companies

Amazon files trademark application for Amazon Pay in Canada

December 4 2018

• in
• Amazon Payments
• Canada

“E-commerce giant Amazon has filed a trademark application for its Amazon Pay online payments processing service in Canada. The application was submitted on November 16, 2018 and formalized on November 21st, 2018. The filing suggests that Amazon plans to bring the platform to Canada in the near future.”

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Global

UK retail now sees more money spent online than on the high street: study

December 7 2018

• in
• UK

“UK shoppers now spend less money in shops than they do online, a new study suggests. Some 43% of spending, by volume, takes place in UK stores, while 57% takes place online, according to the Mastercard study. More than a quarter (27%) of all spending takes place using mobile devices, found the study. Some 20% was […]

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Global

China To 600 Retailers: We Are Not A Mobile Payments-Only Society

December 10 2018

• in
• Cash
• China

“It’s kind of odd how often this has happened, but it seems that any time a government has pushed for a cashless society, it’s drawn back at the brink. The Indian government demonetized most—but not all—of its currency. Sweden’s push to go cashless prompted regrets of its own. And now China, where mobile payment were […]

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Global

In the land where mobile payments are king, China says rejecting physical cash is illegal

December 10 2018

• in
• China

“China’s central bank on Monday warned that rejecting cash as a form of payment was illegal, saying that such practices could eventually cause the loss of confidence in physical money and was unfair to those not accustomed to electronic payments.”

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Global

Singtel adds international m-payment capabilities to Dash app

December 10 2018

• in
• Mobile wallets
• Singapore

“Singapore operator Singtel has expanded the payment capabilities of its all-in-one mobile payments app dubbed ‘Dash’, to include international mobile payments. Dash customers can now use their Visa Virtual Account on the Dash app at millions of online retailers worldwide and merchant points that accept Visa Contactless Payments. In addition, customers can also use Dash […]

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Deals

Vocalink to revamp Peru’s payments system

December 12 2018

• in
• Faster payments
• Peru

“Vocalink has signed a contract with Peru’s automated clearing house Cámara de Compensación Electrónica (CCE) to modernise the nation’s electronic payments infrastructure. According to the firms, this deal will see the creation of a new integrated service that will deliver processing of electronic payments (cheques, bulk and real-time) 24/7 x 365 days of the year.”

On The Wires

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Global

Canadian demands for speed and convenience influencing payments innovation

December 10 2018

• in
• Canada

“The 2017 data show that Canadian consumers are opting for faster and more convenient methods of payment, such as tapping a card or phone at point-of-sale, sending funds electronically through INTERAC e-Transfers, making more purchases online and in-app and leaving traditional forms of payment, like cash and cheque, by the wayside. Businesses too are adopting digital […]