SIX Payment Services saw online transaction volumes rise in 2014 alongside constant increases in traditional card payments using credit and debit cards at the point of sale. The range and volume of payment transactions made online, in high street stores and through a variety of other locations offering goods and services continued to expand in tandem with technical innovations. Mobile wallets, which became a hot topic in 2014, are likely to gain momentum in 2015 with the launch of Apple Pay. We also anticipate that NFC payments (near field communication) and omni-channel solutions will effectively remove the dividing line between online and offline activities. SIX Payment Services saw global transaction volumes increase 10%, rising from 1.195 billion in 2013 to 1.315 billion in 2014. The total transaction volume (MSV) amounted to EUR 57.5 billion. Almost half the transactions (48%) came from the international business of SIX. The number of cards processed increased by 2% to 25.7 million in 2014.
U.S. credit card outstandings, among the Big 6 credit card issuers, rose a measly 2.3% year-on-year (Y/Y) for the fourth quarter to $486.8 billion. American Express (AXP) and Capital One (COF) lead the pack with 7.2% and 6.0% increases, respectively.
London-based Bytemark has been awarded a major contract to create a mobile payments infrastructure and smartphone app for the FutureRailway program in the UK. FutureRailway operates as a collaboration between RSSB and Network Rail and was originally established to accelerate the uptake of innovation within the rail industry.
There is little doubt Apple Pay has set the stage for mobile payments as iPhone unit sales hit 74.5 million in the fourth quarter. Apple Pay currently accounts for two out of every three dollars spent in contactless payments over the top three payment networks.
Miami-based CenPOS has inked a mutually exclusive processing and acquiring services agreement with Bank of The Bahamas (BOB). These services include mobile processing, EBPP, integrated payment solutions, shopping carts, Point-to-Point encryption, tokenization, recurring billing, and Mobile Wallet.
Norway’s Telenor, TeliaSonera and Tele2 have selected the Amdocs Mobile Financial Services solution to advance their Strex joint venture for mobile payments. Mobile financial services are already very popular in Norway, with Strex handling more than 75 million SMS-based payment transactions annually.
MN-based Digital River is raising the stakes in India through a strategic partnership with local ecommerce provider Net Distribution Services (NDS). NDS has been building and operating branded online stores for both global enterprises as well as leading local brands for more than five years.