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
How beacons and nearables are giving marketers new customer know-how
October 9, 2014, 2:02 pm
It’s been a long-held dream of many marketers to
better engage with customers within their physical premises. But even
the old solution of employing more floor staff is unlikely to help if
there is no way easy of first identifying who each customer is.
the strong current interest in beacon technology. Beacons are low-power
transmitters based on Bluetooth low-energy connections that can
identify and communicate with consumers over a very short range, such as
when they walk into a store.
gives marketers the ability to know who is within proximity of the
beacon, provided the customer has Bluetooth switched
12 Ways to Secure Mobile Banking
October 9, 2014, 1:58 pm
According to a 2014 survey by the American Bankers Association (ABA),
mobile is the preferred method of banking by 10% of consumers—up from 1%
In recognition of National Cybersecurity Awareness Month, ABA recommends
that consumers take extra precaution to protect the data on their
"Mobile banking provides an unprecedented level of convenience for bank
customers, and while it is a safe way to conduct banking transactions,
customers need to remember that any device used to connect to the
Internet is vulnerable," said Frank Keating, ABA
president and CEO. "Customers play an important role in the
Retailers must keep the shopper in the middle
October 9, 2014, 1:48 pm
It’s easy to be seduced by the idea that we are falling out of love with shopping
as an activity, but it remains one of our favourite pastimes. However,
we are losing interest in outdated modes of shopping. A trudge around a
dreary shopping centre can pale in comparison to the almost infinite
variety of online.
As shoppers we are becoming increasingly wedded to new forms of
retail experience. Powered by smartphones and new technology, modern,
agile consumers are searching, shopping and sharing wherever they are
and whenever they want to. They demand a seamless experience that allows
them to flit between channels
Final's credit card tackles security with unique numbers for each retailer
October 9, 2014, 1:38 pm
It's called Final, and the chip & PIN card serves up a unique number to every place you shop or a "disposable" set of digits for one-time use. So when the next Target or Home Depot
breach happens, you'll only have to deactivate the number assigned to
those places rather than go through the hassle with your bank. You can
easily deactivate numbers when a subscription has run its course, and
set monthly limits so you're alerted when someone tries to go over that
amount or that "free trial" runs out. When shopping online, there's a
browser extension that quickly generates
Square cofounder dishes out mobile payments wisdom
October 9, 2014, 1:34 pm
T he future of mobile payments
depends on tech startups pushing back against banks and
telecommunications companies, Square co-founder Jim McKelvey told a sold-out Refresh Miami crowd Tuesday.
Several financial bigwigs told McKelvey he was an “idiot” for helping start San Francisco-based Square, which allows mobile devices such as iPads to accept credit card payments, he said.
“People thought we were nuts when we started a payment company as a bunch of tech entrepreneurs,” he said.
Earlier this week, the company was valued at $6 billion.
McKelvey recently moved to Miami to spread the success of his nonprofit LaunchCode,
which he started in St. Louis
Mobile commerce revenue will reach 50% of US digital commerce revenue by 2017, says Gartner
October 8, 2014, 3:53 pm
Fueled by the launch of Apple Pay, interest in mobile payments and mobile commerce will take off over the next few years.
As a result, mobile commerce revenue will reach 50 percent of U.S. digital commerce revenue by 2017, predicts Gartner.
"Increasingly powerful smartphones and tablets, and the
correspondingly rich and powerful applications available for each,
enable consumers and business customers to interact seamlessly with
companies, content and commerce experiences at virtually all stages of
the purchase process," says Gartner.
Younger consumers in particular will be attracted to mobile payment and mobile commerce options.
In addition, Gartner predicts that by the end of 2016,
Bill Gates lauds BD's mobile banking
October 8, 2014, 2:58 pm
"Rich people take for granted loans, insurance, banking and other
financial services that poor people have little access to," Gates said
in an interview with the Wall Street Journal (WSJ) last week before
delivering the keynote address at Sibos, a banking-industry conference
Referring to the bKash, the premier mobile banking service in
Bangladesh, Gates said nearly 13 million people in Bangladesh are
getting financial services, transferring money, paying in shops as bKash
"exploited ubiquity of cellphones to deliver a needed service".
Bangladesh Bank (BB) issued a guideline for mobile banking in 2009
and subsequently allowed 28 banks to offer mobile banking
10 things you need to know about e-finance
October 8, 2014, 2:48 pm
There is now a vast array of apps and online
services that allow us to manage our money – whether that means saving
it, spending it admiring it or fretting about the lack
of it - and they are dramatically changing the way we engage with the
financial services companies looking after our cash.
1 The end of cash?
You can now pay your friends and family back using just their mobile number. Launched in April 2014, Paym
is a service backed by most major UK banks that lets you send and
receive payments directly to a current account. You
Square’s Order App Can Now Predict When You’ll Arrive To Pick Up Your Cappuccino
October 8, 2014, 2:41 pm
Well, payments startup Square
wants to make it easier for you to get the cappuccino you want, and
make sure it’s hot and delicious when you arrive to pick it up.
Since introducing its card reader years ago, Square has been looking
for new ways to insert itself into people’s lives when they make
purchases. Earlier this year, that meant launching an app designed to
improve the user experience of ordering and picking up food and coffee
from nearby merchants.
By introducing its Square Order app,
the company enables customers in San Francisco and New York City to
skip the line, place orders ahead
Retailers to launch mobile payments
October 8, 2014, 2:20 pm
Mobile payment innovation Zapp, which
has been developed by the company behind Link cash machines, has
unveiled a string of firms where customers will be able to use the new
technology, which also includes Spar, Clarks, Dune, Best Western,
Siemens, Thomas Cook, Bravissimo as well as Shop Direct - the group
behind Littlewoods, very.co.uk, Woolworths.co.uk and Isme.
The firms which have agreed to support Zapp so far have a base of more than 35 million customers between them.
People will also be able to use
Zapp to pay household bills, with Anglian Water, Bristol and Wessex
Water and Sutton and East Surrey