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.
Articles Tagged ‘mobile payments’
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.
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.
As ecommerce sales continue their meteoric growth, mobile is grabbing a larger market share, with smartphone-enabled purchases set to grow from $122 billion in 2015 to nearly $319 billion by 2020, according to a new report from Javelin.
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.
As leading banks, card networks and technologies angle for mobile payments might, Walmart Pay puts itself in play with the completion of its national rollout. Watch this video for the full analysis.
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.
As consumers grow increasingly comfortable with using their smartphones to pay for purchases, brands including Pizza Hut, Walmart and OpenTable have revolutionized the payments sector with AI-enabled initiatives, widespread mobile wallet rollouts and streamlined on-site checkouts.