Mobile Pay Apps
Fifty percent of a new survey respondents said they have installed a mobile app from their bank. Of those respondents, 70% said that they use the app a few times a month or more.
Americans & IOUs
New research finds one third of adults in the U.S. have ruined a relationship over IOUs and are owed on average $450. A driving reason is discomfort around financial conversations; more than 50 percent of Americans find it awkward to ask their friends or family to pay them back.
VF VX + HPS E3
Verifone and Heartland Payment Systems have reignited their strategic alliance to launch key initiatives aimed at providing merchants with enhanced security and EMV-ready payment processing.
M-Payments Adoption
While the payments industry is ablaze with mobile payments technology and potentially huge profits, it will not come to fruition unless consumers are educated on the performance and ease of use of mobile pay services.
First Card Benefits
Being the first card in the wallet brings huge rewards to issuers. But the Millennial population brings new challenges to reach into their wallets as they shun traditional credit card marketing.
Square launches Pickup, Register Offline, and Inventory Tracking
Square announced three new ways for sellers to drive more customers to their business and simplify their operations. Square Register is a powerful service offering sellers of all sizes and kinds easy, yet sophisticated technology for creating the best customer experiences and running their business.Research shows that food and beverage is the second most popular category among purchases made on smartphones. And studies show that more people are preferring to use their smartphones to pay for their purchases. Square is helping local business owners match these trends and connect with customers.The new pickup feature on Square Market integrates perfectly with Square Register so sellers can fulfill customer orders in-person and online. Now sellers can run their rush hours efficiently and provide a better customer experience. The pickup feature is available to all sellers at a competitive 8% processing fee per order with an introductory offer at 2.75% through July 1, 2014. Consistent with all of Square’s tools, access and setup are free, and sellers receive payment the next business day.
Visa digital wallet Embarks on New Market
V.me ewallet by Visa is being offered as a secure payment option across major eCommerce retailers in Australia. V.me offers a simple and secure way to pay online by entering a single username and password – whether shopping from a PC, laptop or mobile device – eliminating the hassle of entering shipping, billing and account information, across multiple merchant websites. The Visa Online Shopping Study*, a survey of 1,000 Australian consumers conducted for the first time in 2013, also shows men generally prefer shopping online (35%) than women (28%) and many expect to do more online shopping in the future than they currently do. V.me stores personal account information behind layers of security within Visa’s industry-leading network.
Nationwide Building Society Simplifies e-Banking with IBM
Nationwide Building Society concluded 77% of consumers are banking online, compared to 69% who use branches and just 16% preferring to use telephone banking. With this, they will benefit from an improved NBS banking experience through IBM, which uses simplified language and navigation tools, making using the online bank quicker and easier. Key features include simplified navigation; improved help and support for when members need it; simplified registration; and greater flexibility to provide offers to customers that are directly relevant to their banking needs.
Western Union and 7-Eleven Ink Prepaid Card Agreement
Western Union global payments and 7-Eleven convenience retailer forged a prepaid agreement to offer consumers Western Union “MoneyWise General Purpose Reloadable” prepaid card at 7-Eleven store locations in 2012. The Western Union “MoneyWise Prepaid Card” will be a new service option for consumers who already purchase Western Union money orders at more than 6,000 U.S. 7-Eleven retail locations. The agreement also positions 7-Eleven as the largest retail seller of the Western Union MoneyWise prepaid reloadable card product in the U.S.
U.S. Payment Volumes to Grow Thanks to Durbin
Banks are now responding cautiously to the Durbin Amendment and the new economics of debit cards. With interchange revenue streams cut 50%, many banks are tempted to start charging fees and dropping rewards on debit cards, but-warns Auriemma Consulting- new this new pricing will encourage consumer to spend much more. Less than 10% of debit…
The Pantry to Offer Western Union In-Lane Remittance
Western Union and The Pantry convenience store chain forged agreements to offer the Western Union “goCASH” service, an in-lane money-transfer service from Western Union. The goCASHSM service will let consumers pay for a domestic or global money transfer while shopping at more than 1,650 Kangaroo Express stores across 13 states. The Pantry agreement builds upon Western Union’s go-to-market strategy and complements Western Union’s consumer experience. Consumers can select any of three principal amounts ranging from $50; $100; and $200, and the goCASHSM package can be purchased for both domestic and international money transfers.
Capital One Releases Consumer Rewards Measure
Capital One released its “Capital One Rewards Barometer,” indicating only 22% of U.S. credit cardholders are completely satisfied with their rewards program. Meanwhile, 57% have not redeemed any reward points in the past three months; 28% who wanted to but didn’t cited difficulty in redeeming while 27% cited a lack of attractive redemption options. Additionally, 19% believe the flexibility of redemption options are fair or poor while 23% rate their ability to earn rewards quickly as only fair or poor. Other findings show 29% said that blackout dates would prevent them from using credit card rewards to take a spring trip; the number one motivation for consumers to earn and use credit card rewards is 57% considered it free money; 34% noted they appreciate the everyday savings provided by rewards programs; 47% would rather be able to redeem credit card rewards for domestic than the 30% preferring international airline tickets; and 72% want the ability to redeem rewards for cash, but only 54% actually do.