Nearly nine in ten consumers worldwide have made digital payments using digital wallets, contactless, QR codes, buy now pay later, money transfer apps, cryptocurrencies, biometrics and other digital payment technologies (85%) and more than six in ten say they have increased their usage of at least one digital payment method (61%) in the last 12 months, according to a Mastercard survey... More
Norway, Finland and New Zealand are the three countries closest to becoming cashless societies, followed by Hong Kong, Sweden, Denmark, Switzerland, the UK, Singapore and the Netherlands, according to research published by Merchant Machine... More
Apple iPhone users in the US will soon be able to opt to spread payments for purchases made using Apple Pay over a period of six weeks in four equal instalments using a ‘buy now, pay later’ service integrated into Wallet... More
Apple Pay is the most popular payments app with Generation Z teenagers in the USA, followed by Venmo in second place, Square’s Cash App in third and PayPal fourth, according to a survey published by Piper Sandler investment bank... More
Apple has launched a project to develop its own payment processing technology and infrastructure for future financial products and services including buy now, pay later instalment payments for Apple Pay, credit checking and risk assessment, according to media reports... More
Consumers worldwide will use payment services provided by smartphone makers and other original equipment manufacturers (OEMs) to make more than 30.7bn ecommerce transactions by 2026, an increase of more than 24.5bn on the 6.1bn predicted for 2022, according to a forecast by Juniper Research... More
PARTNER NEWS: The acquisition of Antelop Solutions by Entrust will enable the development of more comprehensive solutions for the issuance of both digital and physical payment cards and offer customers “true digital-first payment credentials with physical card synergies that fully align with consumer expectations for simplicity and security,” the companies have revealed... More
Nearly 20% of all in-person Visa card transactions in the US are now contactless, with that proportion rising to more than 25% in Los Angeles, Detroit, Orange County, Miami and Salt Lake City, over 30% in San Francisco, San Jose and Oakland, and reaching 45% in New York, according to the card network’s Q1 2022 earnings call... More
The majority of European consumers would feel comfortable with contactless transaction limits of up to €150 (US$169), three times the current European Union limit of €50 (US$56), according to Payments Europe research... More
German savings banks in the Sparkasse group have launched a buy now pay later service in their mobile payments app, enabling customers to request a loan to pay for goods at the point of sale via their Android smartphone and arrange to repay it in instalments... More
Swiss consumers with a Twint digital wallet will be able to make digital payments with their credit card or directly from their bank account in other European countries from 2022, the Swiss mobile payments service says... More
Apple is seeking to recruit a business development manager to research and form partnerships with “strategic alternative payment providers”, launch “new programs” and contribute to “business strategy and product roadmaps for the growth of Apple Pay and Wallet Services”, a job advertisement posted by the company reveals... More