When it comes to mobile payments, the situation has been described as ‘a very complicated, hot mess’. Why? While the U.S. is exceptional at developing new electronic payments systems, it does not do a great job with commercializing those systems. In the words of Retail Dive, “the market is still in its early days, and
The use of smartphones in processing credit card payments is not a new thing to many. In fact, the practice is currently well accepted, thanks to its affordable setup costs and few-commitment contracts offered by most service providers. It’s no surprise that most merchants are beginning to rely exclusively on free Android and iPhone mobile
According to the 5th annual ING International Survey, cash is fast becoming less popular among consumers in Europe, the US, and Australia. Alternative forms of payment are increasingly gaining more popularity. The survey included responses from 14.692 respondents based in 15 countries. Nearly 27% in Australia, 21% in Europe, and 34% in the US said
According to Mobile Ecosystem Forum’s annual Mobile Money Report, a recent survey in the field shows that 18% of shoppers turn to their phones to pay in-store, and 2 years ago this number was just 8%. 6.000 consumers in 9 countries were asked about their preferences concerning mobile payments. The research shows: 38% of Chinese
Consumers tend to be positive about loyalty programs, mobile ads, and chatbots and they like making a purchase from a smartphone, though they were somewhat reluctant to change their payment habits when mobile wallets appeared years ago. Retailers like Starbucks and Dunkin’ Donuts are succeeding thanks to their mobile wallets and corresponding loyalty programs. These
According to a global survey of 2.300 companies and consumers, fast-growing companies are more likely to embrace and accept mobile payments than those companies that experience slower growth. 43% of companies whose profits are growing by at least 11% offer a mobile app that supports payments. The same can be said about 34% of companies
Based on the 18th annual POS/Customer Engagement Survey by Boston Retail Partners (BRP), 36% of retailers accept Apple Pay. PayPal held the 1st place in 2016, and this year, took the 2nd place with 34% of retailers accepting the payment method. Apple Pay and Other Payment Options According to Boston Retail Partners, Apple Pay has
It’s no surprise that speed plays a key role in payment processing. However, increased speed may result in lower accuracy. B2B transactions should be based on precise payment processing, sourcing and invoicing. Otherwise, the company’s bottom line may be brought into question. Checks Though the modern world of payment processing boasts various technological innovations, checks
Chase and Walmart has recently announced an agreement due to which Walmart customers can use the Chase Pay digital wallet to make payments in physical stores, online at Walmart.com, and using the Walmart mobile app. ChaseNet and ChasePay are to go live with Walmart this year. Earlier, in September 2106, a deal was signed between
It’s a common knowledge that millennials love their smartphone cameras and that businesses try to benefit from the growing interest in smartphone cameras. Companies such as Amazon, MasterCard, and Alibaba are focused on figuring out whether smartphone cameras can be applied in the online payment authentication field. A recent report from Osterman Research commissioned by
