Of Special Interest
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- Newslink Trends-The Global Strategic Perspective
- Juniper Research says digital wallet users to exceed 4.4 billion by 2025, as mobile drives digital payments’ revolution
- Criminals exploit COVID-19 pandemic with rise in scams targeting victims online
- Equifax says Open Banking proving pivotal to pandemic lending
- Consumer confidence in banks, credit card providers and investments remain stable as demand supercharges digital finance says Toluna research
- Mintos says Europeans are starting to embrace investing
- US banks see IT modernisation as a way to improve customer experience
- Risk mitigation in global trade depends on digitisation-Andrew Raymond, CEO, Bolero International comments
- Juniper Research new study says the volume of B2B payments facilitated by non-banks will exceed 53 billion in 2022, from a COVID-related low of 38 billion in 2020
- CMA issues fifth publication over 3 years of the service quality league table of personal and business current account providers
- Barclays says scammers take advantage of COVID-19, cashing in on nations’ uncertainty
- S&P Global report says financial market infrastructure sector's earnings likely to cool off In second half
- Global banking market capitalisation slumps by over 30% amid pandemic says Buyshares research
- Digital wallet spend in Europe & North America to increase by 40% in 2019, finds study
- Juniper forecasts mobile money transactions will exceed 200 billion by 2024
- Banks can save the world from climate change, says former UN climate chief
- Research by NatWest reveals gender divide over attitudes to saving
- Europe’s big bank problem: too much capital is trapped in the US, says Scope
- Later-Life lending market set to almost double in the next 10 years, finds report
- Barclays/Cebr report challenges nation to think differently about wealth
- Fifth of UK investors looking to debt investment, new research reveals
- Regtech will play a more important role in PSD2, says Mitek
- Banks turn to Fintech partnerships to improve customer experience, finds Fraedom
- New industry code to tackle fraud must deliver, says Which?
- New TTF report highlights loss of trust in financial services
- Arxan highlights financial app vulnerability epidemic
- SAS asks whether banks really need to choose between operations and innovation
- Which? raises alarm as almost 1,700 free ATMs become fee-charging
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
20th September 2011
Google Wallet live in US
Google Wallet went live in the US. Currently the only widely available phone with the required Android operating system and NFC communication is the Nexus S 4G. The pay by touch feature can be used at any MasterCard PayPass terminal by touching the phone to the pay terminal. There are now 120,000 in the US. A further significant restriction is that it is only Citigroup MasterCards or Google prepaid cards that can be used with the wallet.
Most Smartphones are expected to incorporate NFC in future models. The earlier rumours that the iPhone 5 would include NFC have gone quiet recently leaving people uncertain as to whether it will make it into this model or not. The iPhone 5 is due to be launched in the US next month. There is also no official time-scale for an Apple operating system version of the wallet.
In an update to the beginning of trial announcement some months ago Google say the wallet will be modified in future to work with American Express, Discover and Visa. A statement from Visa confirmed it had granted Google a world-wide licence to use the wallet software in conjunction with its PayWave contactless terminals. Google has not announced any plans for expansion to other countries at this time. A part of the wallet is 'Google Offers', a service for retailers to direct electronic coupons to store in the users' wallet. It will link to search results so that someone searching for a product will receive discounted offers for that product from local retailers.
Google interestingly was quite modest with its claims during some interviews stressing this was version 1.0, and that it would develop rapidly over the next few months. It is also to focus initial marketing in New York and San Francisco encouraging retailer involvement.
Isis, supported by the big 4 US mobile operators is due to start trials next year. PayPal is also making a push into POS.