Mobile-payments are steadily becoming an accepted form of transaction globally. A new report from Forrester Research Inc. reports that it will nearly triple from $51.5 billion this year to $141.7 billion by 2019. With those growth forecasts, many businesses are taking note of the new form of payment. Due to the most recent launch of Apple Pay, mobile payments have received center attention in the tech industry. Many are speculating a payments revolution is at hand, but analyst, Denee Carrington, suggests that the adoption of mobile payments is “an evolution – not a revolution – and the evolution is well […]

If asked, could you explain tokenization to your customers? Would you be able to tell them what the advantages would be if you offered a tokenization payment platform? For those who are not up-to-date on all of the new technology, tokenization could replace all the information that is contained in the magnetic stripe on the back of a credit or debit card. This would mean that stealing the information contained on the stripe would be virtually impossible. For those with high risk merchant accounts, when a customer makes a purchase online, they input their card information into your checkout system […]

MasterCard is expecting an uplift in contactless transactions to lead to a revolution in mobile payments, with the card scheme currently running 50 NFC pilots across Europe. According to Mastercard, the contactless transactions are now available in 63 countries worldwide, and in 34 countries in Europe including seven new countries in 2013: Azerbaijan, Finland, Ireland, Macedonia, Moldova, Montenegro and the Netherlands. This is extraordinary, and hopefully will soon be implemented in the United States. MasterCard’s contactless cards or devices have been issued by more than 220 financial institutions in Europe and can be used at almost two million merchant locations […]

Welcome to the Future! We no longer have to stand in line any more at most places to pay for our purchases. That’s right many stores are arming their employees with the technology of smartphones and card readers which means they can process purchases from anywhere in the store, which means standing in long lines is becoming obsolete. Braintree They have a full stack platform which makes it easy to accept payments in an app. or website. Braintree provides you with one touch payments to mobile SDK’s and foreign currency acceptance. You will have everything you need to start accepting […]

MasterCard and Visa are supporting host card emulation (HCE) which they say will drive the take-up of NFC-based services on mobile devices, including payments. HCE enables payments and other NFC-based services to bypass the mobile operator-controlled secure element, or SE. Both credit card giants said they are at work on standards-making initiatives on HCE. This is fantastic news for everyone who has wanted to make payments or purchases from a tablet or smartphone. A HCE stores and transmits payment card information, such as the cardholder’s name and the card number, via the cloud. With this technology, the information can be […]