Mastercard has acquired British payment-technology provider VocaLink, following a string of innovations for its Masterpass mobile payment service, in a bid to even out adoption of the technology in all markets and become a top contender in the crowded space.
Banks and financial services
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Bank of America’s redesigned mobile application now includes Spanish language capabilities as well as the ability to redeem BankAmericard Cash Rewards for travel points or cash-back offers without leaving the app.
Wells Fargo is reminding financial institutions not to overlook non-iOS customers with a mobile wallet for Android devices, enabling users to make purchases at participating merchants by holding their smartphones up to contactless readers.
First National Bank of Pennsylvania is optimizing its banking services for mobile with a new application that allows clients to receive push notifications regarding account activity and approve time-sensitive fund transfers for their organizations.
Bitcoin provider IPayYou has developed a service that allows users to support their favorite campaigns and charities as well as share funds with friends and family, hoping to stay relevant as conversational commerce, social media purchasing and peer-to-peer payments all grow.
Mastercard, which has thrown its hat into the ring of in-store mobile payments with Masterpass arriving at bricks-and-mortar locations such as BJs and Subway, hopes to become a leader by tacking on vending machine connectivity, Cake Pay integration, messaging purchases and banking partnerships.
Financial services brand USAA has rolled out a new feature within its mobile application enabling consumers to leverage voice commands to complete tasks such as depositing a check and transferring funds, a tool that will be beneficial for visually impaired users.
With consumers becoming more comfortable using mobile payment platforms for everyday purchases, MasterCard recently invited New York residents to buy items from a specific café with Samsung Pay in exchange for tickets to a Cold War Kids, Capital Cities or Years & Years concert.
BillHero’s new Facebook Messenger chatbot gives users an easy, secure way to pay bills without having to leave the social media platform.
In the latest contactless payments development for the Rio Olympics, Visa has partnered with Swatch to introduce an NFC-enabled watch in Brazil, enabling consumers to pre-load funds into their associated bank accounts and make a purchase within seconds.