Wells Fargo & Co. recently announced it is launching contactless cards, which allow customers to tap and pay at retail stores and public transit hubs. The bank has already started handing out contactless cards to those who pen new consumer credit card accounts. Existing credit card customers will receive contactless versions when their current ones expire. Later this year, the...
In the modern technology-driven world, any retail business should use advanced tools and methods like mobile payment processing to remain competitive in the industry. Providing customers with convenience to make purchases and improving their experience play an incredibly important role in any merchant’s continuous success. Read this article to know how you can improve customer experience in today’s world of...
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 processing apps as their main...
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 have made an in-store...
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 merchant wallets are leading the...
According to a report by UK-based Juniper Research, bots and natural language interfaces making remote mobile payments will count for more than $2 trillion across the globe in the upcoming 5 years. In the next 5 years, merchants using keyword research and menu-driven systems to direct consumers to products will face competitive disadvantages. The study carried out by Juniper is...
Mobile payments are seemingly taking over the processing world, and banks are fighting back. Apparently not happy with these developments, banks are cutting ties with merchants who wish to accept these transactions. While it may seem okay that banks do this, stating that their safety is at risk due to the unknowns with these mobile payments, merchants are seeing red....
Walmart Pay was first launched in December 2015. It is now officially available in all 4.600+ Walmart stores across the US. Walmart Pay is developed to provide a more inclusive in-store shopping and payments experience to its customers. Walmart Pay The QR code used in the checkout process is not used for payment processing. In fact, it provides consumer authentication...
Mobile payment option are growing every year, and everyone from teenagers to the elderly are embracing their convenience and coolness. Scanning your phone is easier than digging through your purse to find your debit card, and it accomplishes the same task. What’s not to love? Well, many processors and banks turn up their noses to this new technology, calling it...
The mobile revolution has been coming for a long time. And now that it is here, many in the tech field are predicting the abandonment of current payment methods in favor of mobile payment systems like Apple Pay. But so far, this has not been the case. Consumers are still using the same payment methods of the past – mostly...
