IDC Financial Insights Shows Over a Third Use mPayments

IDC Financial Insights announced the results of the eighth annual Consumer Payments Survey, focused on the usage of emerging payment technologies. The new report, Business Strategy: Results from the 2012 Consumer Payments Survey (Document #FIN235594) found that mobile payments have more than doubled in popularity, reaching over 33% of survey respondents. Of those that had made a mobile payment, more than half used PayPal Mobile (56%), with Amazon Payments and Apple’s iTunes service statistically tied at about 40%. In addition, prepaid cards showed strong growth, particularly in the network branded and benefit submarkets. Network-branded (open loop) prepaid cards have drawn neck and neck with closed loop cards in consumer penetration. Overall, 73.5% of U.S. consumers now use online bill payment. This confirms that online bill payment is now the dominant way we pay bills in the U.S. IDC Financial Insights emphasizes the strong results in prepaid cards and mobile payments should lend urgency to financial institutions’ efforts to develop products in these areas.

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Green Dot CTO Appointed Same at Mitek

Mitek Systems mobile imaging software announced Michael Strange joined the Company as CTO to lead technological advancements and finding new markets in which to serve both the banked and underbanked industry segments. Meanwhile, Dr. Grigori Nepomniachtchi has been named chief scientist and will report directly to Strange on engineering, product management and quality assurance. Strange was CTO of Green Dot Corporation, a provider of retail-based prepaid products to a broad base of U.S. consumers.

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Daily Systems and Aurus Partner on Mobile POS Solution

Daily Systems has partnered Aurus on an all-in-one Mobile POS Solution. On the “whizPay” iOS mobile payment framework solution from Aurus, the Daily Systems’ iAPS Sled becomes the complete all-in-one Mobile Point Of Sale Solution with an integrated Thermal printer, Mag Stripe Reader, 2D Barcode reader and Smart Card reader. The “whizPay” provides a secure mobile payment framework for iOS devices by de-risking mobile applications from payment processing, reducing the PCI scope of Point Of Sale Systems, providing key benefits of robust security, lower cost of POS development and deployment.

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Mobey Forum white paper Addresses Difficulty in m-Payment Adoption

The development of mobile wallet technology is being held back by a number of ‘hidden controls’ which remain largely unexplored in the public domain, asserts Mobey Forum, the global bank-driven industry association enhancing the evolution of a sustainable and prosperous mobile financial services (MFS) ecosystem. Published today, Mobey Forum’s latest white paper ‘Mobile Wallet: The…

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Fifth Third Bank Launches HI Payment Solution

Fifth Third Bank has launched RevLink Collect, a new patient payment receivables solution for hospitals and healthcare organizations. This offering will help healthcare executives reduce the collection cycle for patient payments and provide more accurate and timely estimates for patients. RevLink Collect, which is part of Fifth Third Bank’s RevLink Solutions platform and healthcare receivables services, enables healthcare organizations to quickly generate and collect patient payments at the point of care. RevLink Collect provides a full suite of payment collection options, including check, cash, credit and debit card, Automated Clearing House (ACH), and payment plans. RevLink Collect also makes it easier for healthcare organizations to manage their reconciliation process by posting payments directly into their practice management systems.

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Euromoney Awards Citi as top Emerging Markets and Transaction Banking House

Euromoney recognised Citi as “Best Global Emerging Markets Investment Bank” and “Best Global Transaction Banking House” at its annual Awards for Excellence ceremony. The two global awards were among 17 won by Citi, including a number of top regional awards: Best Investment Bank in the Middle East, Best Flow House in Central & Eastern Europe, Best Debt House in Central & Eastern Europe and Best Project Finance House in the US. The Euromoney Awards for Excellence are in their 21st year and are recognised to be among the most prestigious in the financial services industry.

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Barclays Launches New mBanking App

Barclays is introducing a free mobile banking app for its customers. Its personal and small business customers will now be able to view their balances and last 30 transactions, make transfers between accounts, pay bills* and find branches or Barclays ATMs. In addition, Barclaycard UK personal customers who also hold their bank account with Barclays will be able to view their credit card balance and recent transactions and make a repayment off their last statement balance. The Barclays Mobile Banking app is initially available to those aged sixteen and over on Apple and Android phones, with plans to release on Blackberry very soon. The app can be downloaded today from Apple App Store and Google Play.

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