For Pakistan to harness the full potential of digital commerce, strong collaboration is required among mobile operators, financial and payments companies and governmental agencies. By 2020, 3G coverage is expected to reach 90% of the country’s population.
A new study has discovered American consumers want more from their banks than apps — they want advocates. Also, 70% of consumers across all generations (85% of millennials) believe banks current with the latest technology are more trustworthy than banks that lag.
Berkshire Hathaway Travel Protection (BHTP) and MasterCard have teamed with Skift’s Global Travel Forum to drastically cut the time it takes to pay travel-insurance claims.
MI-based Stratos is adding EMV chips to its Bluetooth Connected Card Platform. The EMV chip will support a specific card issuers’ credit or debit card.
MasterCard announced Google will be among the first digital partners to follow Samsung to participate in its Digital Enablement Express program, which the company launched this week with support from several leading banks.
Samsung has joined the MasterCard’s Digital Enablement Express (DES) program as one of the program’s first partners. Express expedites the process of digitizing and tokenizing MasterCard accounts – giving issuers the immediate ability to participate in Samsung Pay and enabling Samsung to bring secure mobile payments to consumers more quickly, and at scale.
MasterCard has launched a new disruption to the payments ecosystem with the launch of MasterCard Send. MasterCard Send is the only personal payments service that can reach virtually all U.S. debit card accounts and enable funds to be sent and received typically within seconds.
Mecenat card users who are enrolled in university, college or vocational university can now connect the their card to the SEQR-app. The new collaboration leads to new business opportunities for both SEQR and Mecenat.
LifeLock, Inc. announced the acquisition of mobile wallet innovator Lemon for approximately $42.6 million in cash. In addition, in connection with the transaction, LifeLock has agreed to issue equity customary for a transaction of this size that will vest over the next three years. In conjunction with the acquisition, LifeLock also launched a new app that utilizes Lemon technology to help consumers manage and protect their digital identity. This transaction marks the next step in LifeLock’s evolution by adding a comprehensive mobile platform to the company’s integrated identity protection services for consumers.
Visa and NetHope, a consortium of more than 40 humanitarian organizations, announced the five recipients of the Visa Innovation Grants Program. The grants will help leading development organizations modernize the distribution of payments related to microfinance, agriculture, health, and emergency relief. Every year, billions of dollars in cash payments are distributed to people in need through emergency relief efforts, benefit stipends, conditional cash transfers, microfinance programs, and other development initiatives. Digitizing these payments, through mobile phones or other electronic methods, not only improves security and speeds distribution, it also can promote financial inclusion by providing recipients access to broader financial services, including savings and electronic payments tools. Through the Visa Innovation Grants Program, Visa is awarding $500,000 in grants to increase the long-term impact of development programs through the innovation and adoption of electronic payments.
Citi has expanded its CitiDirect Banking Evolution (BESM) service to over 70 countries with a client-friendly upgrade that provides enhanced feature functionality and client service experience. CitiDirect BE, the evolution of the award-winning CitiDirect Online Banking platform (CitiDirect), represents a multi-year investment and delivers a new client experience with a contemporary design, enhanced navigation and optimized user interface. This includes new portal and single point of entry with enhanced self-service tools and analytics applications, a simple upgrade from CitiDirect to CitiDirect BE that eliminates the need for complex and disruptive migrations and electronic bank account management (eBAM) and digital identity services.
The Lemon mobile wallet platform made available the Lemon Wallet on Android and launched its Lemon for Business. The Lemon Wallet customers already scanned over a half million cards to digitize and back-up their wallet data, stored behind Lemon’s proprietary government-caliber security technology. The Lemon Wallet easy-to-use tool for digitizing and backing up all of the items traditionally carried in a physical wallet and is more secure than the physical wallet itself. Android users are now able to download the App from Google Play for any Android 4.0 or higher smartphone to snap a photo of each item in their wallet, including debit, credit, loyalty healthcare and ID cards, as well as receipts, tickets and coupons.