CIBC Tim Hortons Double Double Visa Card Recognized with Innovation Award
October 27, 2014, 2:34 pm
"We're delighted with the strong response from our clients and from
Canadians to the new CIBC Tim Hortons Double Double Visa card," says Jenny Fagg,
Executive Vice-President, Products & Payments, CIBC. "This award
from ACT Canada speaks to our leadership in innovating for our clients
to enhance their everyday banking experience."
"Tim Hortons is thrilled to continue to deliver creative and
innovative payment solutions like the CIBC Tim Hortons Double Double
Visa card that are both engaging and provide our valued guests with an
opportunity to earn rewards for their loyalty," explains Glenn Hollis, Vice President, Brand Strategy, Marketing and Guest
How Mobile Technology Has Revolutionized Small Business
October 27, 2014, 2:28 pm
Mobile technology, whether you believe it or not, has — and will
undoubtedly continue to — revolutionize the way business is done.
A look at the numbers
Each year, AT&T and the Small Business & Entrepreneurship Council conduct a poll
that focuses small-business technology. The most recent study revealed
some pretty interesting statistics and trends relating to mobile
Here are a few of the main takeaways:
Collectively, smartphones and tablets save business owners around 2 billion hours each year.
Mobile technology saves American small-business owners more than $65 billion a year.
The number of small businesses that use smartphone technology to conduct business is now up
CVS And Rite-Aid Turn Off Apple Pay: What's Really Going On
October 27, 2014, 2:23 pm
In fact, by disabling the Near Field Communications (NFC) chip
readers in all their credit card terminals they also turned off
customers’ ability to use Google GOOGL +0.04%
Wallet. Why would they do this in the middle of the positive buzz
surrounding Apple Pay? The answer is simple: Follow the Money.
payment providers are hoping to take a small bite out of the money that
flows through the credit card approval and settlement process. And CVS
and Rite-Aid belong to a consortium of retailers, led by Walmart, who
want that, and data about their customers too.
In typical Apple fashion, Apple Pay was launched
Indian e-commerce set to hit $ 6 billion mark in 2015
October 27, 2014, 2:19 pm
Praveen Sengar, research director at Gartner, said digital commerce
in the country is still at a nascent stage, representing less than 4 %
of the total retail market, but it is one of the fastest growing e-commerce markets in the Asia-Pacific region, Enterprise Innovation reported.
Sengar added that B2C e-commerce leads the market in India, while
B2B is limited to organizations that drive online channels to integrate
with their partners and distributors.
The market research firm Gartner Inc. said mobile commerce is also
increasing traction and marketplaces, consumer product goods, and food
and beverages companies have taken notice and started investing in
Competition is holding Apple Pay, mobile payments back
October 27, 2014, 2:16 pm
the new mobile payment system for the iPhone 6, iPhone 6 Plus, and
upcoming Apple Watch, promises to let you use your mobile device for
purchases at a wide variety of retailers, from Macy’s to McDonald’s. But
for any mobile payment system to truly succeed, much less actually
replace your wallet, it needs to be usable just about everywhere.
New evidence surfaced last week showing that, despite an
initial show of support for Apple Pay, competitive considerations are
keeping many retailers from supporting someone else’s mobile payment
scheme. Apple Pay was already competing with Google Wallet and other
systems, but it
Etsy Launches Free Mobile Payment Dongle
October 24, 2014, 12:22 pm
I confess, I've never met an Etsy seller in real life. That's
not to say they don't exist—that would be a bit silly. It's just that
most of the times I've shopped on Etsy for something, the transaction
has been entirely virtual: I fire up my credit card, I wait a few days,
and some beautifully designed package arrives in the mail with a
beautifully designed item inside.
If you're an Etsy seller who also maintains a real-life storefront—or
just wants the ability to sell the neat trinkets you've brought along
to a friend's party in person—then a brand-new device from
Money in a mobile world
October 24, 2014, 12:19 pm
The eyes have it
The growth of mobile
devices in the last couple of years has been undeniably staggering. It
is worth remembering that at the start of 2010 the iPad had not even
been released and the word tablet was confined to the medical industry. nVision
reported that at the start of the year ownership of smartphones and
tablets among the British population stood at 70% and 41% respectively.
Simply put, there are more eyes gazing into glowing screens than ever
But it is more than just eyes; Millward Brown's Ad Reaction 2014
research reveals that on an average day in
Why do retailers still not see mobile commerce as a priority?
October 24, 2014, 12:11 pm
Following years of mid-market retailers downplaying the importance of the mobile channel due to low conversation rates, mobile traffic now dominates online activity.
The result? Far too many retailers are simply opting for a quick-fix responsive design approach to create a ’mobile friendly’ experience that is anything but.
Slow loading pages, unmanageable navigation and tortuous checkout processes are driving bounce rates in excess of 80%.
Retailers are not only missing out on sales but creating an appalling first impression in what has rapidly become the dominant route to market, effectively closing the door to the mobile sales
Don’t Let Apple Pay Disrupt Your Mobile Payment Strategy
October 24, 2014, 12:04 pm
The phone, with its embedded Apple Pay
capabilities, has the potential to be the tipping point for widespread
adoption of mobile point-of-sale payments. While this is significant in
and of itself, it’s important to step back and consider the bigger
picture implications for your financial institution’s mobile payments
The key is to strike a balance between underplaying new
developments and being driven by the news of the week. A good strategy
should be flexible enough to adapt when new services such as Apple Pay
come along, with a focus on how new developments fit into your existing
Fiserv recently shared
Ditching your wallet wholesale for plastic cards and mobile payments may be a bad idea, say financial advisers
October 24, 2014, 11:56 am
The 23-year-old adviser at the VTAG Financial Group Inc. in Toronto
was one of the early adopters of the “cashless” lifestyle, a move to
ditch pocket change and bills in favour of plastic cards and mobile
“I simply decided that change and cash were too frustrating to deal with,” he said.
It’s a trend that’s becoming increasingly popular with consumers, and
setting off alarm bells for some advisers who say it amplifies the risk
for Canadians to unknowingly blow past their monthly budgets.
What makes digital transactions so dangerous, they say, is the
intangible technology is attractive and easy to use, but also
Sorry Square: Etsy Just Released Its Own Mobile Card Reader
October 23, 2014, 11:42 am
Etsy made this move to help its shop owners better integrate its
online and offline business — the card reader and accompanying app will
help them keep track of inventory and sales all in one place. But it
also feels like blow to Square.
Square's core business is making little card reading dongles for
small business owners, like Etsy sellers. A bunch of Etsy shop owners
were likely already using Square's mobile payments option. Etsy's card
reader will have the same 2.75% swipe fee as Square does, but will offer
a more integrated experience with its marketplace. It makes sense that
Mobile Now Plays a Vital Role in Online and In-Store Purchases
October 23, 2014, 11:39 am
In an effort to help retailers gauge the importance of mobile in their world, NinthDecimal recently released their Q2 “Audience Insights” report.
The report had many valuable takeaways, such as the fact that mobile
now plays a critically important part in how consumers research
products—both before heading out to shop and while in-store.
Additional insights include:
Smartphone product research is up 25% from 2013—and is likely to be even higher by the end of the year.
69% of mobile retail research is performed at home, and 12% at work.
45% of consumers have made an in-store purchase after viewing a mobile ad.
While exact conversion rates
Study finds mobile payments high on consumers' minds
October 23, 2014, 11:35 am
"Mobile payments have been around for years, but many consumers are
not yet familiar with them. With the launch of Apple Pay, we see that
conversation opening up in a way we haven't seen before," said Jonathan
Pirc, Founder of Lab42.
In fact, according to Lab42 data 45% of non-iPhone owners say they
would switch their Android, Blackberry or Windows devices to Apple for
access to Apple Pay. Why the sudden interest in an online payment
Researchers polled 500 smartphone owners and found security and
simplicity to be two leading reasons. The respondents said they liked
the idea of
Europe leads world in mobile payments as North America lags behind
October 23, 2014, 11:31 am
Adyen, the Amsterdam-based payment technology company,
released the findings as part of its Q3 Mobile Payments Index. It’s
worth noting that the index covers the last period before Apple Pay
launched, a service many hope will give mobile payments a boost.
Overall, mobile devices accounted for 23.3% of all
online payments for the three months ending September 30, according to
the report. That was up from 21.5% in the previous quarter ending in
Europe was first among regions, with 24% of all mobile
payments. Asia was second with 17%. Asia was also the fastest growing,
Taxes payable by mobile money in Kenya
October 23, 2014, 11:27 am
The country's second largest mobile network has partnered with the Kenya Revenue Authority (KRA) to switch on the service.
As a result, Airtel Money customers across the country can make enquiries over KRA services, generate KRA payment reference numbers, and make payments through Airtel Money using the shortcode *572#.
"The revolutionary service provides Airtel Money customers in Kenya a convenient, flexible and time saving option for tax payment as they will no longer have to walk into KRA banking halls to queue to pay their taxes," Airtel Kenya said.
"Taxpayers who pay taxes using Airtel Money are
Android platform is gaining ground as a mobile commerce, advertising platform
October 22, 2014, 3:30 pm
The Android platform is quite popular among consumers, but not
necessarily among businesses and large enterprises. Many analysts in the
e-commerce, advertising, and software sectors believe that Google’s
mobile operating system is too exposed to malicious software and is
fragmented by nature. For years, analysts have also suggested that
Android consumers spend significantly less money through their mobile
devices and these people are not likely to engage in any dynamic
marketing. This may no longer be the case.
New report predicts that 1.2 billion people will be using Android by the end of this year
A new report
from BI Intelligence shows that the
Why mobile commerce is terrified you'll be banking on Apple Pay
October 22, 2014, 3:27 pm
So when Apple enters a new market, the existing big beasts of that
industry need to sit up and take notice. With the launch of Apple Pay on
Monday, it is the banks that need to work out how they can remain
relevant in the face of the technology giant.
Don't get me wrong – Apple Pay doesn't look like it will kill off the banks. As it stands now, the new
service is about using smartphones' in-built NFC technology to make
retail purchases by tapping the device to wireless terminals in stores.
That may not sound like a threat to banks, and
Pay your taxes through Airtel Money
October 22, 2014, 3:20 pm
Through the partnership, Airtel will now allow customers
across the country to inquire for KRA services generate KRA payment
reference number (PRN or an e-slip/invoice number) and make quick simple
payments through Airtel Money.
The service provides Airtel Money customers in Kenya a convenient,
flexible and time saving option for tax payment as they will no longer
have to walk into KRA banking halls to queue to pay their taxes.
Airtel Kenya CEO Adil El Youssefi said that the new partnership will
usher in unparalleled customer convenience, stressing that the move is
aimed at increasing Airtel Money customer satisfaction and convenience.
“Airtel will continue
Starbucks to launch mobile commerce initiative for the holidays
October 22, 2014, 3:14 pm
Starbucks has some big plans for the holiday season. The company
intends to entice consumers into its stores during the holidays by
offering mobile ordering and pay services this year. The company plans
to launch this initiative in Oregon before possibly rolling it out to
other states throughout the country. Starbucks sees a great deal of
promise in the mobile commerce space and aims to connect with consumers that are shopping via mobile devices this year.
Starbucks continues to find success by engaging mobile consumers in dynamic ways
Starbucks has managed to establish a strong presence in the mobile payments
space. The company
Apple Pay is only the start: Mobile wallets are about to take off
October 22, 2014, 3:06 pm
Exciting stuff, but haven’t people been predicting the end of cash
for some years now? Despite new developments like Apple Pay, talk of a
“mobile wallet” revolution (with smartphones becoming the primary means
of payment) has so far failed to translate into a mass movement. Is this
set to change?
Analysts at Transparency Market Research confidently predict that the
global mobile wallet market will be worth $1.6bn (£991m) by 2018. Yet
the UK Payments Council reported at the beginning of June that 52 per
cent of all payments made last year were in cash.
own survey, carried out by YouGov, showed that only 22 per cent of
Apple Pay won't replace your wallet any time soon
October 21, 2014, 11:55 am
Today is Apple Pay day, finally extending to iOS users a capability
that Google and several others have already tried, unsuccessfully, to
For several reasons, Apple’s foray into mobile
payments appears to have a good shot at succeeding where others have
fallen short. Some point to the iPhone’s massive market share. Although
more Android devices may be in the hands of consumers overall, everyday
Android users who don’t read technology news and reviews obsessively
might not know if their phones have an NFC chip or even how to set up
Google Wallet. But with the homogeneity of iOS, everyone
Obama signs “BuySecure” initiative to speed EMV adoption in the US
October 21, 2014, 11:50 am
On Friday, President Obama signed an executive order to speed the
adoption of EMV-standard cards in the US. The transition to EMV—an
acronym eponymous of Europay, MasterCard, and Visa, the companies that
developed the standard—has been slow to gain traction in the US. The EMV
standard will require credit card companies to stop relying on
the magnetic stripe cards that are common today and move toward cards
with embedded chips that will offer more secure credit card
Square is pushing forward with a new credit card reader for the 2015 transition.
Lawmakers and credit card companies confirmed earlier this year that the US
As Apple Pay Arrives, Witnessing the Next Step in Money. Maybe.
October 21, 2014, 11:45 am
has lost his wallet twice in the past year. He has fallen victim to
credit card theft three times. On one occasion, a thief plucked a credit
card replacement sent to his home directly from his mailbox.
Mr. Donohue said that is why he was excited to use Apple Pay, the tech giant’s new e-commerce product released on Monday. By pushing a button on his iPhone,
he can make a purchase at one of the thousands of retail locations,
including Macy’s or Walgreens stores, using the new service. No wallet,
cash or plastic
Cape Town launches mobile transport app
October 21, 2014, 11:32 am
The mobile application, developed by software development company
‘Where is My Transport’ at a cost of about R1.5m, will be available for
windows phone, iPhone, android powered phones and blackberry.
Cape Town says the application is the first of its kind in Africa.
application will be able to map out all the different public transport
services across the city which includes the MyCiTi bus service,
Metrorail, Golden Arrow, the Jammie Shuttle service and city sightseeing
buses. It will tell commuters which mode — bus or rail, or combination
of the two — to use to reach their destination. The information the
Canadian retailers may experience some turbulence due to mobile commerce
October 21, 2014, 11:29 am
Canadian retailers may be in for a turbulent holiday season. Price
wars and consumers skittish about mobile and e-commerce may put
retailers under significant strain this year during the months of
November and December. The growing prevalence of mobile commerce,
in particular, may make it harder for some retailers to find traction
with many people. These retailers have been investing heavily in their
mobile infrastructure, but they may not see returns due to the fact that
many consumers are not yet comfortable with the idea of shopping online
with a mobile device.
WalMart sees troubling trends emerge in the retail market
WalMart has big plans
Microsoft Plans To Launch A Wearable Device Within Weeks
October 20, 2014, 1:45 pm
The gadget is a smart watch that will passively track a wearer’s
heart rate and work across different mobile platforms. It will also
boast a battery life of more than two days of regular use, sources close
to the project say.
That could put it ahead of Samsung’s Galaxy Gear
smart watch and Moto 360 which both need to be charged around once a
day. The wearable will hit stores soon after launch in a bid to capture
the lucrative holiday season, a timeline Apple AAPL +1.59% was reportedly targeting before it delayed its own Watch to early 2015.
Forbes first reported in May
Mobile Payments To Benefit From Tech Investments
October 20, 2014, 1:41 pm
“By aligning innovative payment technologies – particularly those
based on mobile usage and new mobility trends – to industry
requirements, the financial services industry can reduce total
investments. While the initial investment to adapt IT services to
industry needs is significant, the quick return on investment (ROI) and
positive feedback more than makes up for this,” said Frost & Sullivan Information & Communication Technologies Global Programme Director Jean-Noël Georges.
“Ultimately, this is a win-win approach, where the financial
institution can minimize its spending on client account management while
adopting a payment technology that facilitates mobile banking and
The problem, as companies
Three in Five Americans Fear Mobile Banking
October 20, 2014, 1:32 pm
investigated how secure consumers feel about banking over their
smartphones. They found that, while 44% of consumers say they aren’t
worried about mobile banking, the majority have major concerns about
accessing their bank accounts over their phones. GOBankingRates’ poll,
which asked respondents about their biggest mobile banking fears,
revealed consumers’ concerns include technical issues, missing funds,
misuse of information, and lack of paper documentation.
Reality Check: It’s going to be difficult convincing
consumers to adopt mobile payments and mobile wallets as long as the
financial industry continues to have security issues. Between phishing
scams and hacks at retailers like Home Depot, consumers
With Apple Pay, tech giant bets big on mobile payments
October 20, 2014, 1:28 pm
That would be Apple's
best-case scenario as it officially launches Apple Pay, the new mobile
payment service that allows users to buy goods with their smartphones.
The tech titan is betting consumers will no longer want to carry their
wallets, credit cards or cash.
Here is how Apple Pay works: users walk up to a checkout line while hold their iPhone 6 or iPhone 6 Plus up to a special reader. By simply pressing the fingerprint sensor, the transaction is completed.
For online shopping within apps, apple pay is also available on the recently announced iPad Air 2
Bharti Airtel to launch cross-border money transfer service
October 20, 2014, 1:25 pm
A pilot phase starts on 1 November involving Airtel in Kenya, Uganda,
Tanzania and Rwanda, following approval by those countries’ central
The second phase will see the service rolled out to other Airtel operating countries within the next year.
company also has operations in Burkina Faso, Chad, Congo, Democratic
Republic of Congo, Gabon, Ghana, Madagascar, Malawi, Niger and Zambia.
is a key milestone for Airtel Money customers because a big virtual
barrier has been removed and our customers will be able to transact with
ease, across national borders,” said Chidi Okpala, director and head of
The pilot project will also enable Bank of Africa