News

No longer just a factory, China is a mobile leader
April 22, 2014, 11:05 am

China has long been a mere manufacturer. Products, usually designed elsewhere, get assembled here. And when China's mobile industry creates, it's often churning out low-end handsets and that occasional shameless copycat app.

But one former Silicon Valley insider says China is no longer a factory hub lacking imagination. It has become a hotbed of crazy innovation.

"People think about China as copycats, but they don't expect to see the kind of innovation that they see here when they arrive," says Hugo Barra, former Google executive and current Vice President of Chinese cult smartphone maker Xiaomi.

Local spice

Barra cites Didi -- a local taxi calling

Mobile wallet marketplace in China adds another key player
April 22, 2014, 11:02 am

China’s smartphone based payments market is already growing at an astounding rate, as $1.6 trillion in transactions were completed over that channel in 2013, but now it is about to become a little bit more competitive as Baidu tosses its own mobile wallet service into the mix of options available for consumers.

This will place the search company in direct competition with other online giants, such as Tencent and Alibaba.

This new mobile wallet will add another key player into the environment for Chinese consumers and merchants, alike. According to the vice president of Baidu, Li Mingyuan, who is responsible for the company’s

Blue Rocket Announces The Next Wave of Mobile Payment Technology
April 22, 2014, 10:57 am

Blue Rocket, a leading custom mobile application design and development firm, announced today that as more and more consumers use their mobile devices for everyday transactions, the next wave of mobile payments is here. Financial institutions and business alike are more focused than ever on implementing a strategy that takes advantage of mobile devices to make payments easier and to make transactions more secure for both the consumer and the venue.

According to Blue Rocket, marketers that utilize new mobile payment technology, like PayPal and iBeacon, will emerge as leaders in mobile payments space. iBeacon sends a short-range wireless signal via

6 Mobile Marketing Must-Have's
April 22, 2014, 10:53 am

If the ever-increasing email open rates on mobile are any indication, there's never been a more critical time to optimize mobile marketing efforts.

There was a time when things such as responsive design were novel features for brands; more of a perk or a plus than anything. “We're now past the point where responsive sites and emails are things we should have. Consumers expect a responsive design. It's something you must have,” explains Christopher Lester, director of the concierge team at email marketing services provider Emma Inc.

Here, Lester and several other marketing experts explain some of the do's and don'ts of

Mobile payment startup Square plans sale as losses widen: Report
April 22, 2014, 10:50 am

The company spoke to Google Inc earlier this year about a possible sale, the Journal reported, adding that it wasn't clear whether the talks are continuing.

Square, founded in 2009 by Jack Dorsey, co-creator of Twitter Inc, will likely fetch billions of dollars in a sale. Square insiders sold shares earlier this year on the secondary market, valuing the company at roughly $5.2 billion US, the Journal said.

The company recorded a loss of about $100 million in 2013, the Journal said, adding that the startup has consumed more than half of the roughly $340 million it raised from at least four rounds of equity

Mobile commerce doubles as traffic spikes on the smallest screens
April 21, 2014, 12:38 pm

The results of a study that was conducted by Wpromote have now been released and are offering some interesting insight into the growth of mobile commerce and of the use of the smartphone and tablet for shopping purposes.

The research looked into 35 of the company’s client sites, including a number of different categories.

To start, the research showed that mobile web traffic has increased by a tremendous 50 percent over the last year, alone. It now comprises over one quarter of all internet visits. Among the sites that were examined as a part of this mobile commerce study were B2B industries, e-tailers,

Walmart Banks on Cash
April 21, 2014, 12:35 pm

Within seconds, breaking news stories were posted all over the web describing the blow to MoneyGram’s and Western Union’s businesses as well as speculation about Walmart’s real motives for getting into the P2P business.

But what everyone forgot to focus on is the real story: the value of this service to the consumer.

Walmart makes no bones about its mission – saving people money so that they can live better. A company executive at a recent industry conference was reported to have said that 75 percent of Walmart shoppers said they chose Walmart because of its low prices, up from 50

Xpress Money Partners with Emirates India International Exchange
April 21, 2014, 12:29 pm

Xpress Money’s alliance with Emirates India International Exchange will provide its customers increased access to its services across 21 branches of the latter in UAE. Through this partnership, Xpress Money will offer its Cash to Cash, Cash to Card, Cash to Home, Cash to Mobile, Direct Account Credit services to different parts of the globe; subject to the services available in various receive countries.

Mr. Sudhesh Giriyan, Vice President and Business Head, Xpress Money, said, “This collaboration with Emirates India International Exchange will give us the opportunity to leverage our services through their wide network. With UAE being the second largest send country in the

Square’s deal with Starbucks is costing the payments startup millions
April 21, 2014, 12:24 pm

Two years ago, the coffee king invested $25 million in the white-hot start-up, and as part of the deal, Square was also able to handle all of its credit card transactions.

All-in-all, the deal seemed pretty good for Square, which was also getting free publicity for its application. But it doesn’t seem so simple now. In addition to the losses, the WSJ also reported that Square’s fee on each Starbucks transaction amounted to 2 percent last year, which falls below the 2.75 percent it charges many others.

In all, sources told the WSJ that Square recorded a loss of roughly $100 million in 2013, and that over the past

Secure NFC components reinvigorate mobile payments
April 21, 2014, 12:22 pm

The demand for hardware-based solutions for mobile payments is growing steadily as smartphones and other portable devices are increasingly being used for shopping and payment applications.

The international chip card association, Eurosmart expects shipments of Secure Elements or SE for NFC components to reach 435 million units in 2014, which is more than four times the number of devices shipped in 2012.

Mobile phone operators across the world are launching NFC-centric mobile payment services, and as a result, the industry is seeing a huge volume of Single Wire Protocol or SWP-based SIM cards being issued.

“In 2013, we witnessed a large number of

Walmart Introduces Exclusive Money Transfer Service, Cuts Fees by up to 50 Percent for Customers
April 17, 2014, 10:32 am

BENTONVILLE, Ark.--(BUSINESS WIRE)--April 17, 2014--

Millions of customers transfer money domestically each year, many of them struggling to navigate the complex and costly fees that come with each transaction. Today, Walmart and Ria are launching a retail industry first - Walmart-2-Walmart Money Transfer Service. Available April 24, the new low-cost service allows customers to transfer money to and from more than 4,000 Walmart stores nationwide for up to 50 percent less than similar offerings on the market.

"After listening to our customers complain about the high fees and confusion associated with transferring money, we knew there had to be a solution," said

Baidu launches mobile payment app

Baidu launches mobile payment app
April 17, 2014, 10:28 am

The new Baidu Wallet app is a payments, money transfer and wealth management service.

Alibaba lauched its Alipay Wallet at the start of 2013 and was followed later in the year by Tencent’s Wechat payments app, which is linked to the popular messaging app of the same name.

Now Alibaba and Tencent will face competition from another big name in China’s internet market.

However, players face regulatory hurdles in the country’s burgeoning mobile payments market.

China’s central bank recently blocked plans by Alibaba and Tencent to launch virtual credit cards, as well as using mobile devices to make payments via QR codes.

Orange Money – more than €2.2 billion in transactions have been made in 13 countries.
April 17, 2014, 10:26 am

Since launching in 2008, the payments solution has rolled out in 30 countries including Botswana, Cameroon, Cote d’lovoire, Egypt, Guinea, Jordan, Kenya, Madagascar, Mali, Mauritius, Niger, Senegal and Uganda, and boasts €2.2 billion in transactions.

The service has been most beneficial to areas such as Africa and the Middle East, where not many people have bank accounts, but the majority have mobile phones.

Stéphane Richard, who works with Orange Money, said: “Orange Money is a revolution in terms of customer experience – While making a strong contribution to economic and social development, mobile financial services also represent a major growth engine in Africa

Orange Money – more than €2.2 billion in transactions have been made in 13 countries.
April 17, 2014, 10:26 am

Since launching in 2008, the payments solution has rolled out in 30 countries including Botswana, Cameroon, Cote d’lovoire, Egypt, Guinea, Jordan, Kenya, Madagascar, Mali, Mauritius, Niger, Senegal and Uganda, and boasts €2.2 billion in transactions.

The service has been most beneficial to areas such as Africa and the Middle East, where not many people have bank accounts, but the majority have mobile phones.

Stéphane Richard, who works with Orange Money, said: “Orange Money is a revolution in terms of customer experience – While making a strong contribution to economic and social development, mobile financial services also represent a major growth engine in Africa

Be agile to win mobile payments race
April 17, 2014, 10:24 am

The banking industry is rushing to implement systems for mobile payments – recent announcements include the UK nationwide launch of Paym, five UK banks signing up for Zapp’s mobile technology, US rapid transit networks gearing up for contactless card payments and Indian mobile companies set to offer bank-like payment services.

The mobile payments space is disruptive – and one of the major upheavals in banking for 2014. There is uncertainty for both banks and consumers, evident in the lack of standards for mobile payment platforms.

Financial institutions are facing a major dilemma. They need to select one of the available mobile payment technologies

How mobile money is changing Asia
April 17, 2014, 10:20 am

For emerging Asia, paying your friends, family and retailers from your mobile is set to explode thanks to the region`s heavy smartphone usage and an ever-increasing number of companies looking to tap into the action.

Asia has been a world leader in mobile usage for three straight years. The region was home to more than half of the world`s mobile phone subscriptions in 2013, data from the International Telecommunication Union (ITU) shows.

"The main driver clearly is the Asian consumer, who is generally younger and [more] highly urbanized than European and U.S. counterparts. There are other cultural reasons,

Westpac tests fingerprint access to mobile banking
April 16, 2014, 11:28 am

Westpac New Zealand has been experimenting with using the fingerprint scanning feature built into Samsung’s Galaxy S5 smartphone and said it would soon become the “first bank in the world” to use that to let customers log on to internet banking .

The bank has been using NZ as a test bed for new technologies before introducing them to Australia. The fingerprinting trial comes as it continues to test Google Glass.

A YouTube video released by the bank indicates there will be a one-off registration process when customers would enter their bank username and password and then register their fingerprint. After that only their

Sound City festival goes cashless with Znap
April 16, 2014, 11:23 am

Sound City's partnership with ZNAP, the global mobile business platform, is designed to improve the festival goers experience through significantly reduced queuing times and new services, while greatly contributing to the spirit of innovation that is at the heart of the festival.

Ticketholders can download the ZNAP app and pair it with their NFC festival wristband, which will provide them with quick access to the venues and faster service at the bars - where they can pay by simply tapping the NFC wristband on the ZNAP reader.

ZNAP made an initial debut at Sound City New York in March, where the technology was

“Time to do away from Billfolds: Mobile Payment Technology takes the charge”
April 16, 2014, 11:20 am

After, following mobile technology so closely and with full zeal and enthusiasm, I may not be wrong to conclude that mobile technology is at its peak. Back in those days, I remember my father carrying his mobile, which was not that mobile. Its body was so concrete that one could to push a nail into the wall with the help of the mobile.

However, today when you look at Smartphone, they simply appear to me as an amazing piece of creativity. 'Smart' is not only applicable in terms of looks, but also when it comes to performance and speed.

China gets first bitcoin ATM, skirting bank crackdown
April 16, 2014, 11:13 am

Rising interest from mainland Chinese speculators was credited for driving up global bitcoin prices last year to above $1,000 on some exchanges. But a subsequent crackdown by the People's Bank of China (PBOC) has seen the digital currency sag, changing hands below $530 on Wednesday, according to exchange-tracker CoinDesk.

That, in combination with scandals involving hacking, theft, and fraud, have put pressure on digital currency markets around the world. Tokyo-based bitcoin exchange Mt. Gox has given up plans to rebuild under bankruptcy protection and asked a local court to allow it to be liquidated, The Wall Street Journal reported.

Unlike conventional money, bitcoin and

Watch Out PayPal? The Real Meaning Of A Facebook Money Transfer Business
April 16, 2014, 11:07 am

Expert opinions are split as to whether a foray into the market by Facebook would cause a competitive danger for existing online money transfer providers such as eBay’s PayPal division, Western Union WU +0.44% and Moneygram, or whether the social network would need a lot of time to establish a successful, trustworthy operation.

The social network, which already has money services licences in most US.. states but has not yet launched a money transfer business, is close to gaining regulatory approval in Ireland, its European base, for an online payment service – according to a report in the Financial Times.

Such a

Inside Clinkle: A Stanford Kid Got $30 Million and Then Everything Blew Up
April 15, 2014, 11:47 am

The week after Thanksgiving, 40 Clinkle employees gathered in the kitchen of their San Francisco office. It was the second time in two days they'd been called together for an all-hands meeting.

At the front of the room stood 21-year-old Clinkle CEO Lucas Duplan, eyes cast down. Next to him stood Barry McCarthy, Clinkle's recently-hired chief operating officer who was more than three times Duplan's age, and a former Netflix colleague of McCarthy's, Allison Hopkins, who had become Clinkle's Chief Talent Director.

One day prior, Duplan had proudly announced a new hire, Chi-Chao Chang. A former Yahoo and xAd executive, Chang was Clinkle's

Paydiant's White-Label Mobile Wallet Selected as a 2014 MITX What's Next Awards Finalist

Paydiant's White-Label Mobile Wallet Selected as a 2014 MITX What's Next Awards Finalist
April 15, 2014, 11:43 am

WELLESLEY, Mass., April 14, 2014 (GLOBE NEWSWIRE) -- Paydiant, Inc. today announced that its white-label, mobile wallet solution for merchants and banks has been selected as a finalist in the Most Innovative Mobile Solution category for the MITX What's Next Awards. Other finalists in the category include Crashlytics, LogMeIn, Nuance Communications and Undertone.

Since 1996 the MITX Award shows have grown to become the largest and most prestigious awards competitions in the country for marketing innovations, celebrating the best creative and technological accomplishments emerging from New England. This year MITX combined its annual Innovation and Interactive Awards into a

4 Ways to Compete for Mobile Payments
April 15, 2014, 11:28 am

A recent survey on FindABetterBank indicates that more and more consumers are beginning to use their smartphones to make payments. Banks and credit should act now to avoid being left out or marginalized. Why? Aside from eroding interchange revenue, mobile payments will be disruptive because it disaggregates a major component of how consumers use their primary bank accounts.

The risk for banks and credit unions is that consumers will adopt and use third parties to make mobile payments. Already, many consumers that make mobile bill payments prefer to use billers’ mobile services over their bank or credit union. Over 2 million retail locations in

Facebook Prepares A Money-Transfer Service, But Still Needs Trust
April 15, 2014, 11:24 am

Facebook has been working since at least late last year on a European-wide service that would allow end users to store and transfer money on Facebook, according to a source in the financial services industry with knowledge of Facebook’s plans.

“Facebook is thinking about financial services in general, money transfer being one of these areas,” the source said, adding there was a 50-50 chance that Facebook would successfully launch such a business. “They are making their minds up about what to do.”

Facebook is reportedly weeks away from getting regulatory approval in Ireland to launch a European e-payments service, and is pushing into the

Kenya shakes up mobile money by licensing three MVNOs
April 15, 2014, 11:19 am

The newcomers can offer customer registration, SIM cards issuance, billing and customer care. They will also be assigned their own numbering range. All will be hosted on the network of Airtel, the country’s second-largest network behind Safaricom.

Mobile Pay is backed by Tangaza Pesa, which already offers a mobile money transfer service. But delivering the service using its own SIM card will improve the firm’s margins.

“While we continue with mobile money services as our core business, our customers will also access voice, data, and SMS services,” Oscar Ikinu (pictured), founder and chief executive of Tangaza Pesa, told The Daily Nation.

Although he would

Ditch your wallet at shops that read your palm for payment
April 14, 2014, 2:56 pm

People have turned to fortune tellers for millennia, but this palm reader is the first I can say with certainty that really does give you a glimpse of the future. Quixter is a palm reader that allows you to pay for things without your wallet simply by placing your hand on a scanner.

To pay for stuff with Quixter all you have to do is type in the last four numbers of your phone number at the cash register, then place your palm on a reader to scan the unique pattern of blood vessels in your hand.

Swedish start-up

Customers are leaving banks that don't offer mobile banking services
April 14, 2014, 2:48 pm

Around 60 percent of mobile device users who switched banks in the fourth quarter of last year cited mobile banking as a factor in the switch, up from only 7 percent in the second quarter of 2010, according to data from AlixPartners cited by the Journal.

Around one-third of banking customers have deposited checks using photo imaging on their mobile devices in the fourth quarter, compared to 22 percent two years earlier, according to AlixPartners.

The good news for banks is that mobile banking costs less than other forms of transactions. The average cost for a mobile transaction is 10 cents,

Santander ‘superwallet’ targets m-commerce
April 14, 2014, 2:42 pm

Launched in Poland through the group’s central and eastern European subsidiary Bank Zachodni WBK, the BZWBK24 mobile banking app allows users in Poland to shop at merchants using the app. They can arrange home delivery, send items such as flowers or buy bus tickets in 30 cities. The app will soon have other abilities added, including booking flights, hotels, tickets to cinemas, ordering taxis and takeaway food from 1,500 restaurants.

The Superwallet product was developed by mobile technology company eLeader and is currently being offered as a white label solution for banks. According to the firm, the biggest advantage of the

Rogers launches suretap wallet app to allow smartphone customers to make purchases
April 14, 2014, 2:39 pm

Apr 14, 2014 (Menafn - M2 EQUITYBITES via COMTEX) --Diversified Canadian communications and media company Rogers Communications RCI announced on Friday the launch of suretap wallet, a new application that lets customers use their smartphones to make payments at thousands of retailers across the country.

Now, with this suretap wallet, customers can safely store eligible payment cards on their smartphone and make purchases by simply holding it up to contactless payment terminals, similar to plastic credit and debit cards.

Beginning immediately, customers can add multiple cards to their suretap wallet including a Rogers Prepaid MasterCard that can be topped up

Facebook plans to launch money transfer service in Europe
April 14, 2014, 2:35 pm

In Ireland it is understood that the company – which employs 500 people in Dublin – has applied for Central Bank authorisation for e-money status that would allow it to issue units of monetary value.

Such a service would allow Facebook to allow members to send units of financial value to one another, as well as buy digital content, such as movies, books and games within Facebook or via app partners.

The move will also enable Facebook to capitalise on the growth of mobile money transfers in developing countries in Africa, Asia and South America, where significant chunks of the population have yet


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1.Square’s deal with Starbucks is costing the payments startup mi
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6.Blue Rocket Announces The Next Wave of Mobile Payment Technology
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