Are mobile payments set for the mainstream with Apple Pay on iPhone 6?
Sep16

Are mobile payments set for the mainstream with Apple Pay on iPhone 6?

With Apple announcing a payment system that works with iPhone 6 and the Apple Watch, will mobile payments finally hit the mainstream, heralding a consumer behaviour shift on the high street and beyond?  Using mobile NFC, will mobile payments on smartphones be enticing enough for consumers – or will other factors come into play on the road to widespread adoption. Slow mobile NFC adoption Outside of iOS, there were already 400 million...

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25% Cost Savings for Banks from Digital, and NFC + QR Codes have 65% mobile payments share (McKinsey, Nielsen)

European banks behind; can save 25% costs if digital (McKinsey) – this reissued piece from October 2013 contains warnings for European banks. Only 20 – 40% of processes have been digitised and less than 0.5% of total spending is on digital. If they digitise properly, banks can see cost savings of 20 – 25% . Avenues banks can explore include digital services to increase revenue, improving consumer targeting and pricing/product...

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What Beacons could do for banks and retailers?

Stories about new applications for beacons are arriving almost daily in retail and mobile payment circles. Commentators and business leaders already seem in agreement that the low-cost, location-based tech has a significant role to play on the high street and further afield.  Beacons (or iBeacons as Apple knows them) seem ideally placed to help enrich mobile commerce; linking the digital and physical worlds and even helping banks...

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Why host card emulation (HCE) could be great news for banks

Visa and MasterCard have announced support for a new technology standard which could make it easier for banks to launch contactless mobile payments. Host Card Emulation (HCE) could also remove some of the barriers for NFC adoption, opening up the market to larger numbers of NFC-enabled handsets. So what is HCE and why do banks need to know about its potential impact on the mobile payments ecosystem? HCE is an enabler technology which...

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A Postcard from MWC: Mobile Money for Tomorrow’s Technology

Richard Johnson, Monitise’s Senior Vice President Strategy, contributed the following post to the Finextra blog earlier this week: The halls of Fira Gran Via, which plays host to Mobile World Congress (MWC), were as always a showcase for all sorts of digital technology. I was particularly interested to explore the halls asking myself, what’s the Mobile Money angle? Here are four of the things that caught my attention.  1.    The...

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Mobile Commerce Ecosystem Map

PYMNTS.com’s Innovation Project 2014 created a helpful map to understand the complex mobile commerce ecosystem: Click here to see the full-sized image. Separately, PYMNTS.com will be co-presenting with Monitise and AlixPartners at an informative webinar, “Mobile Banking Crossroads: Strategic Moves Banks Must Take to Remain Competitive”, on November 20, 2013 at 10AM PST / 1PM...

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Infographic: Contactless Payments NFC

As we exhibit at the NACHA Payments event this week, we thought we’d share infographics on the four leading models for mobile payments from visual.ly. Today’s infographic is on Contactless Payments...

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