The number of mobile wallets using contactless technology is expected to reach 200 million by the end of 2016, representing growth of more than 100% from the end of 2014.
Gemalto reported second quarter total revenue soared 35.3% to €813 million, compared to €813 million in the prior quarter and €601 million in the year ago quarter. For the first six months of the year, revenue growth in Payment jumped 22%, Machine-to-Machine increased 23%, and Government Programs rose 17%, at constant exchange rates, largely exceeds lower SIM products and related services revenue.
EMV chip card payments consultancy FIME is the first to have its chip card personalization validation services and POS/ATM certification test platform approved by the Debit Network Alliance (DNA) under its recently established DNA Shared Debit AID certification program.
Apple Pay, lack of ATM support and the inability to enable payments in the banks’ existing mobile application is a big mixed bag for banks says new research.
Sionic Mobile has ankled Spencer White as Chief Operating Officer and EVP Business Development. With more than 25 years experience, White co-founded Softcard (the AT&T, Verizon and T-Mobile mobile wallet joint venture – formerly Isis) whose technology was recently purchased by Google.
Google has acquired technology and intellectual property from Softcard to integrate into Google Wallet. The deal means the end of the Softcard, a joint venture of AT&T Mobility, T-Mobile USA and Verizon Wireless.
Android has the largest worldwide market share because Google lets partners adapt and expand Android with hardware and software variations. The primary challenge is to establish a center of gravity that will pull the Android value chain toward a common payment implementation.
The Smart Card Alliance Payments, Mobile and NFC, and Transportation Councils made significant headway in 2014, educating the industry on the security benefits of smart card technology for a wide variety of payment applications and use cases.The Payments Council focuses on facilitating the adoption of chip-enabled payments and payment applications in the U.S. and works closely with the EMV Migration Forum to educate stakeholders on the security benefits of EMV chip technology. The Mobile and NFC Council activities help to accelerate the practical use of NFC applications such as payments, loyalty and marketing. In 2014, the council put forward workshops, white papers and other educational industry resources to discuss and promote common mobile and NFC standards and best practices.
UK-based Proxama is in the process of acquiring San Francisco-based Aconite Technology. The deal will create an end-to-end solution for card issuers to migrate from magnetic stripe credit cards to both EMV-compliant chip-based cards and contactless payment-enabled mobile devices.
While CVS, Rite Aid and Walmart trashed Apple Pay this week, McDonald’s U.S. customers have another way to pay for their orders, thanks to a collaboration with Softcard. Customers will now be able to tap and pay both in-restaurant and in the drive-thru lane at all U.S. McDonald’s locations, marking the largest deployment of NFC-based mobile commerce in drive-thru.
Intel Corporation has introduced the industry’s first solution to provide end-to-end encryption of consumer and financial data that is built into the point of sale (POS) platforms.
Customer service leader Aramark will pilot acceptance of mobile payments from Apple Pay and Softcard at select arenas this hockey season. In partnership with the Pittsburgh Penguins, Aramark will begin accepting Apple Pay as a method of payment for food and beverage purchases made at CONSOL Energy Center.