UK M-Payments
New U.K. research shows the adoption of mobile banking apps is no longer exclusively popular for “digital natives” (those born into the digital age), with take-up being spread across all age groups and segments
Cubic & Tfl
Cubic Transportation Systems, Transport for London (TfL) and Barclaycard have received another major honor for London’s contactless bankcard payment system, after winning the prestigious ‘Operational and Technical Excellence’ award at the 2015 UITP (International Association of Public Transport) closing award ceremony in Milan.
Online merchants Show Growing Confidence
Almost 50% of online merchants have reported that their sales are up on last year so far, despite the VAT increase in January, according to research by SecureTrading independent payment processor. Approximately 10% of merchants have reported that sales are higher than expected, while 55% claim that sales are in line with their expectations. Meanwhile, half of the merchants surveyed have taken on the increased VAT cost internally rather than pass this onto the customers. However, 20% have said they do plan to pass these costs on in the next three months, while 52% have no plans to pass these costs on in the future whatsoever.
mPayment Transactions to Hit $1.13 Trillion by 2014
In 2009, the total number of mobile payment users increased to 351.4 million and is projected to hit 1.06 billion in 2014 for a CAGR of 20.5%. Meanwhile, the gross value of mobile payments transactions was $37.4 billion in 2009 and is projected to hit $1.13 trillion in 2014. This data, according to MarketResearch.com, also shows 2009 SMS accounted for 76.4% of mobile payment transactions in 2009, which is expected to decline to 58.7% in 2014. This is part of the Company’s “3Q.2010 Global Mobile Payment Market Forecast, 2010 – 2014: Global mobile payments users to exceed one billion by 2014 with over $1 trillion in transactions taking place in that year.”
S1
Cubic Transportation Systems – Australia, a subsidiary of CA-based Cubic Corporation, celebrated the issuing of the one millionth “go card” in July. The Cubic-installed and operated “TransLink” smartcard ticketing system in South East Queensland was fully installed across TransLink buses, ferries and rail in mid 2008. The TransLink network covers an area of more than 10,000 square kilometers, from Brisbane to Coolangatta on the south coast of Queensland, up to Gympie and west to Helidon. The state’s Transport Minister Rachel Nolan, who attended the July ceremony with the Premier, said the smart card take-up rate had been phenomenal, with the 100 millionth go card trip being taken last month, less than two years after the roll-out was completed. With this, the number of trips taken using the go card had shot up from 33% to 60% over the past year. Between January and March 2010 there were 23.6 million go card trips, more than double the amount for the same period last year.
Cubic Celebrates One Millionth ‘Go Card’ Milestone
Cubic Transportation Systems – Australia, a subsidiary of CA-based Cubic Corporation, celebrated the issuing of the one millionth “go card” in July. The Cubic-installed and operated “TransLink” smartcard ticketing system in South East Queensland was fully installed across TransLink buses, ferries and rail in mid 2008. The TransLink network covers an area of more than 10,000 square kilometers, from Brisbane to Coolangatta on the south coast of Queensland, up to Gympie and west to Helidon. The state’s Transport Minister Rachel Nolan, who attended the July ceremony with the Premier, said the smart card take-up rate had been phenomenal, with the 100 millionth go card trip being taken last month, less than two years after the roll-out was completed. With this, the number of trips taken using the go card had shot up from 33% to 60% over the past year. Between January and March 2010 there were 23.6 million go card trips, more than double the amount for the same period last year.
CLEAR2PAY
The Korea Electric Testing Institute (KETI) has selected Clear2Pay’s “Integri” test tools
for digital communication testing between Near Field Communication (NFC) devices.
Supplying key testing technologies and certification services for companies, KETI
focuses on helping introduce mpayment infrastructures based on NFC technology.
Clear2Pay delivered three different tools that enable KETI to validate its NFC
devices, including the “Listen Device Test Suite,” the “Poll Device Test Suite,” and
the “Peer-to-Peer Device Test Suite.”
mPayment Transactions to Double to $200b by 2012
The value of digital and physical goods that people buy with their mobile smart phones will reach $200billion globally by 2012, compared to the current $100billion annually. Digital goods include entertainment and tickets, whilst physical goods include groceries, gifts and books. The availability of secure, easy-to-use, payment applications and a growing realization of users they can make ecommerce purchases by mobile will drive the market. This, according to a new study by Juniper Research, also showed merchants need to communicate the cost of transactions more clearly to encourage consumers; the frequency of physical goods purchased will be higher than average in North America and Western Europe; and the best potential can be found in highly targeted marketing campaigns with apps and mobile web payments.
MOBILE COMMERCE
A new study forecasts that nearly half of all mobile phone users worldwide will pay by mobile for digital and physical goods by 2014, representing growth of nearly a billion users compared to 2010. The new “Mobile Payments for Digital and Physical Goods” by Jupiter Research reports found that segments such as ticketing and payments for physical goods are being spurred by the phenomenal take-up of apps coupled with the availability of multi-lingual versions of platforms such as eBay. Mobile payments are now becoming integrated into a wider mobile web shopping experience that includes browsing, coupons and advertising. The report uses an innovative new quadrant approach to compare the positioning of mobile payments vendors. The forecasts provide detailed five year regional data for mobile payments for digital & physical goods, showing key parameters including subscriber take-up, transaction sizes and volumes.
HOLIDAY SURVEY
A national survey commissioned by INTERAC found that half of Canadians
have already set or are planning to
set a holiday shopping budget this year, with 73% planning to research
prices before buying to stay on budget, while 60%
have bought early to take advantage of sales throughout the year, and
56% plan to use INTERAC more often so that they only spend the money
they have. Other methods to manage spending include 71% of respondents
plan on setting spending limits per
person or overall,51% make purchases throughout the
year in order to avoid one large sum at one time and 36% are cutting
back on
other purchases to put towards holiday spending.
GPN & ZAO
A new report released from Datamonitor details the Treasury’s plan for the rescue of eight banks on the verge of collapse. The plan includes a commitment from the banks to raise their Tier 1
capital position by a combined GBP25 billion, with funds made
available by government in return for preference share capital or
permanent interest bearing shares; minimum of GBP25 billion in further support for all eligible institutions as required, on the same terms as above and a government guarantee of new short and medium term debt issuance of varying terms up to 36 months. The Treasury expects take-up of this facility to reach GBP250 billion. In order to implement the bailout, the government will impose restrictions that include limits on executive remuneration, including bonuses, a suspension of dividend payments, and pledges to continue lending to consumers and businesses, in return for bearing risk at a level of around GBP2,300 per taxpayer.
The seven banks that have confirmed their participation in the scheme
are: Abbey, Barclays, HBOS, HSBC Bank plc, Lloyds TSB, Royal Bank of
Scotland, and Standard Chartered. The largest building society in the
market, Nationwide, is also participating.
myPHOTOcard
Customers at US-based Zions First National Bank who switched to customized
cards have been making 15% to 20% more transactions. Zions Bank, which
launched its “myPHOTOcard” card customization program is using technology
provided by card customization specialist, Serverside Group. Since the
end of May launch, approximately 88% of the photo
cards issued have been debit cards, the rest credit cards.
The popular new service, also being marketed in Spanish, is available to
both individual customers and business clients. Serverside Group is a
provider of digital card design.