Apple Inc. is rolling out its mobile-payments service for select Starbucks Corp. stores by the end of the year, and will reach 7,500 company-owned stores in 2016, the coffee chain said in a statement.
Adoption of mobile payments has been slow, and it's not clear why. Some have suggested the problem is a lack of understanding among consumers. Others have questioned whether mobile payments really address a consumer pain point.
When Cumberland Farms said this month that it had processed $1 billion worth of gas via its decoupled debit card over the course of nearly three years, it was the latest example of the power of the decoupled debit card. And yet, other than Target's RED card, decoupled debit has barely moved beyond the convenience and petroleum segment.
Samsung may have a hard time convincing users of Samsung Pay that a breach of its LoopPay technology by Chinese hackers has nothing to do with payment card data or the security of the mobile wallet.
Credit card networks and issuers have done a poor job in explaining the implications of the just-passed Oct. 1 deadline for moving to EMV chip-and-PIN cards, leaving many small businesses confused, lawmakers said Wednesday during a hearing on Capitol Hill.
The major card networks operate from a position of strength as among the first movers in providing tokenization, but they must move with the market if they want to hold that position.
Europe has been a clear leader in the adoption of EMV. One notable migration took place in the United Kingdom. The U.K. began the process of promoting EMV in 2002 and completed the full roll out in 2006.
Visa Europe is collaborating with Central Saint Martins College to determine if the true innovation in wearable computing is less about the "Internet" and more about the "things."
In a new book, PayPal founder and former exec Elon Musk argues this big thinking is missing from PayPal and payment startups. Put another way, NFC and QR codes won't repair the global economy. The problem is Musk's big picture approach is it would challenge interoperability and ultimately stagnate the very industry he's trying to save. read more »