All of this week’s top stories from Mobile ID World are in some way related to commerce and payments, while a fifth entry is a blast from the past. On the financial side of things, this week brought Samsung’s announcement of Samsung Money by SoFi, its answer to the Apple Card. It’s essentially a virtual…
Soon after first announcing its planned debit card solution with SoFi, Samsung has revealed further details about the project, including the involvement of Mastercard. Officially dubbed “Samsung Money by SoFi”, the project is described in a new statement as a “mobile-first money management experience”. It comprises a Mastercard debit card and a cash management account…
“The card is being developed in collaboration with digital money management specialist SoFi, and will take the form of ‘an innovative debit card backed by a cash management accounts,’ Samsung explained.” The mobile payments arms race continues, with Samsung having recently revealed that it is currently developing a payment card that will be associated with…
Japan-based JCB has announced a new solution aimed at broadening the use of mobile payments. Dubbed ‘Tap on Mobile’, it’s a contactless payments program that JCB has developed in collaboration with Soft Space, an APAC-based FinTech company. Integrating JCB’s contactless engine for payment transactions, the program is designed to let end users make contactless payments…
The Publix grocery store chain has announced that it will now be accepting contactless payments at every one of its 1,243 locations. The rollout includes support for Apple Pay, and also extends to Publix’s GreenWise Market banner. The decision reflects public health concerns related to the coronavirus. Mobile wallets like Apple Pay, Google Pay, and…
Mastercard is urging its merchant partners in Canada to raise their caps on contactless payments to $250. In announcing the effort, Mastercard framed it as one focused on public health, under the rationale that contactless payments help to facilitate social distancing during the COVID-19 pandemic. It also may be viewed as an effort to further…
The GSMA has released its annual report on the state of the mobile money industry. The report found that there are now more than one billion registered mobile money accounts worldwide, and that the industry as a whole processed roughly $2 billion in transactions every day in 2019. The number of active accounts is only…
Apple is changing the privacy policy of its Apple Card in order to share more user data with its financial partner, Goldman Sachs – but for many, that might be a good thing. Apple says that the data to be shared will be aggregate and anonymized, and is aimed at giving Goldman Sachs more clarity…
The U.S. fintech company HUMBL is entering the Indian market through a strategic partnership with Digital India Payments Limited (DIPL). DIPL currently provides payment processing services at more than 30,000 locations in India, and at additional locations in Nepal, Bangladesh, the Maldives, Myanmar, and Sri Lanka. HUMBL, meanwhile, is a mobile payments specialist. The company…
The Virginia Department of Motor Vehicles is hoping to make the DMV experience a little more convenient for Virginia residents. The Department has announced that it will now accept Apple Pay, Google Pay and Samsung Pay at all of its 75 locations across the state. Citizens can also use the mobile wallets at any DMV…
Apple has entered into negotiations that could bring Apple Pay to Israel. The tech giant is now in talks with Israeli banks and credit companies, although the two sides are currently at odds over Apple’s high commission fees, which are usually somewhere between 0.15 and 0.25 percent of each transaction. While those numbers may not…
Trustonic’s Trusted Execution Environment (TEE) technology has officially made its way through the EMVCo’s mobile payment certification process. In plain terms, that means that any mobile payment apps that choose to adopt Trustonic’s security services can do so knowing that they will be compliant with the EMVCo’s strict mobile payments regulations. According to Trustonic, its…
QRails has teamed up with Samsung Pay to improve the loyalty programs for several football clubs in the UK. The partnership will allow fans of Queens Park Rangers, Swindon Town, and Peterborough United to add a club-branded debit Mastercard to a Samsung Pay account, which will then allow them to use Samsung Pay to complete…
Syniverse has formed a strategic partnership with Samsung SDS that will lead to the development of a universal mobile payments platform. The two companies came to the table to sign a Memorandum of Understanding during the recent CES event in Las Vegas. The new payments platform is designed to be wallet-agnostic, which is to say…
Samsung has released a new rugged smartphone designed for the company’s enterprise customers. The Galaxy XCover Pro features a long-lasting (and replaceable) 4,050mAh battery to deliver reliable performance for long days in the field. It is also MIL-STD 810G certified and IP68 water and dust resistant, allowing it to withstand rain and other adverse conditions. …
Samsung is finally giving Samsung Pay users the opportunity to prevent the sale of their personal data. The decision seems to be a response to the incoming California Consumer Privacy Act (CCPA), which seeks to give California residents more control over their personal information while making the data collection process more transparent. To that end,…
Juniper Research has released a new report that predicts that there will be more than 161 million contactless Point-of-Sale (POS) terminals in use by 2024, more than doubling the total number of such terminals in 2019. There are currently around 78 million contactless POS terminals in circulation. POS terminals without contactless capabilities will be rapidly…
A new report from Juniper Research suggests that biometric technology will revolutionize the mobile payments industry over the next few years. The firm predicts that consumers will use biometric authentication to conduct $2.5 trillion in payment transactions on mobile devices by 2024. That number represents a massive 1,000 percent increase over the comparable $228 billion…
Payments and financial services are key themes in this week’s roundup of Mobile ID World’s most popular stories. Apple’s mobile payments platform, for example, got reader attention with its ongoing expansion in the wake of Apple’s launch of its own mobile-first credit card: Apple Pay Extends Reach in Europe And a bona fide credit card…
