New research finds if a bank offered a mobile wallet, 51% of the respondents are likely to use the bank-offered mobile wallet.
Also, 82.8% have a smartphone, but 12% of those with a smartphone do not plan on using a wallet of any kind just yet.
The number of mobile P2P users will grow rapidly, from 69 million in 2015 to 126 million by 2020. By 2019, it is expected that more than half of all mobile device owners will be using mobile P2P.
Master Your Card, a community empowerment program sponsored by MasterCard has formed a new coalition that will work to help financially underserved African Americans build financial strength and gain financial inclusion through the effective use of electronic payment technology.
Geoswift, Western Union Business Solutions and UnionPay International launched a promotion wherein UnionPay will pay for medical insurance coverage for eligible students that process tuition payments through their payment network.
TIO Networks has inked an arm’s length agreement acquire NJ-based Softgate Systems, a provider of consumer retail bill payment solutions. The acquisition is expected to close later this year.
Los Angeles-based CU Wallet, a Credit Union Service Organization (CUSO) providing the industry’s first credit union driven mobile payments application, and Relevant Solutions have inked a strategic alliance integrating merchant offers and promotions with CU Wallet’s mobile wallet.
CardWeb.com’s CardData database of Company Profiles features Ingo Money.
GTCR is unloading NYC-based Fundtech to Canada’s D+H for US$1.25 billion. Among its many diverse global banking services and products, Fundtech offers merchant services such as credit card gateways and mobile banking.
Prepaid card king The Bancorp has ankled Gail Ball as Executive Vice President and Chief Operating Officer. Most recently she served as the Head of the Payment Studies Group of the Federal Reserve Bank of Richmond.
EVO Payments International (EVO) and Lime Light CRM have formed a partnership to provide integrated payment processing for direct response merchants and service providers globally.
The seventh largest non-bank merchant acquirer in the U.S. has been sold for $1.5 billion. The deal generated a net profit of $700 million for the owners.
AFEX non-bank providers of global payment and risk management solutions and Efic will offer Australia’s export businesses better protection against adverse currency movements. Efic will guarantee foreign exchange facilities offered by AFEX to exporters, enabling the foreign exchange specialist to increase the trading limit for clients. With increased limits, those clients will be able to protect more of their export contracts and better secure profit margins.AFEX continues to grow rapidly in Australia, roughly doubling its client base to 8,000 businesses in the last two years alone. It opened the first of three offices in Sydney in 2005, with Perth and Melbourne following in 2009 and 2011 respectively. Recent currency volatility demonstrates the need for the sophisticated payment and tailored risk management expertise AFEX is renowned for.