Payfone Lands More Investment as TNS Joins AXP in Latest Funding Round

Payfone, a specialist in mobile identity authentication for digital channels, has nailed another funding round of $23.5 million. Among new investors is Transaction Network Services. American Express Ventures remains an initial investor. BlueCross BlueShield Venture Partners and Andrew Prozes led the round with new investors Strauss Zelnick, Maclab Development Group and Transaction Network Services, and with participation from current investors…

UBA Masterpass QR MSME Merchant App to Alter African Payment Landscape

United Bank Africa (UBA) introduced its first merchant-focused app in Africa with the aim of creating a SMART (secure, mobile, accessible, reliable, transparent) network of 100,000 micro merchants and driving financial inclusion. The merchant app will include Masterpass QR, a mobile payment solution powered by Mastercard, and is immediately available for download to any feature…

Visa Sets U.S. PDV YOY Record as GAC/CIF YOY Hovers Near 10%

Visa’s U.S. payment card (credit+debit) purchase dollar volume (PDV), for the third quarter (3Q/16), logged its highest year-on-year (YOY) gain in more than three year. Even though the big Visa issuers struggle with stagnant growth in accounts (GAC) and cards-in-force (CIF), Visa continues to hover near double-digits YOY. Visa’s U.S. gross dollar volume (GDV) increased…

mPayments Tiny Sliver of Connected Vehicle Technology w/Potential

Connected vehicles are set to go with the introduction of the Chrysler Portal concept offering more than 20 technologies to engage, inform and connect users including e-payment options securely transacted from the vehicle while in transit.  The Chrysler Portal concept is user experience designed with bring your own device (BYOD) in mind, seamlessly connecting with…

Global Mobile Card Reader Market Ready to Explode – Driven by MSMEs

New research projects the global mobile card reader market will grow at a CAGR of nearly 54% between 2017 and 2021. The Technavio research lists magnetic stripe, chip and PIN, and near-field communication (NFC) as the three major technology segments for the mobile card reader market, with the magnetic stripe technology being the most commonly…

Blockchain Tech & Microsoft Azure Platform Combine in Sports Arena

Microsoft recently Teamed with AMIS and Industrial Technology Research Institute of Taiwan (ITRI) and formed the first blockchain consortium network on Azure. Meanwhile, Microsoft was also in collaboration with many banks such as Fubon Financial. After a short period of one and a half month, Microsoft furthered blockchain technology into a new area and announced…