Fifth Third Bank is enabling its Android customers to seamlessly make purchases within mobile applications, in stores and online by taking advantage of its Masterpass integration, highlighting the need for financial institutions to roll out digital payments services accessible for a wide array of smartphone users.
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Visa and PayPal have thrown a twist into the race for mobile payments domination by entering into a strategic partnership that will broaden consumers’ ability to pay via PayPal and Venmo and improve security, indicating the importance of collaborations in this competitive space.
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.
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.
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.
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.
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.
Barclaycard is introducing bPay Loop, a small case comprising a contactless chip, so that wearable owners can transform their existing watches and fitness bands into vehicles for contactless payments, highlighting a new commerce opportunity.
The volume of transactions on Walmart Pay recently increased 45 percent week-over-week, following the completion of the mobile payments solution’s rollout to all of the chain’s stores in the United States.