Frowns On Contactless Element Of U.S. EMV Push
Wal-Mart Stores Inc. will not embrace U.S. contactless payment anytime
The nation's largest retailer plans eventually to begin
accepting EMV chip-and-PIN cards in the U.S., but supporting domestic
contactless-payment is out of the picture, according to a top Wal-Mart
Contactless card acceptance could help pave the way to
consumer adoption of mobile payments through Near Field Communication
chip-equipped devices, some payment industry experts say. And while
Wal-Mart is participating in "a very limited test" of contactless
acceptance in 25 of its stores in the United Kingdom, Wal-Mart generally
does not favor contactless payment.
Sets Sail To Bolster Rivalry Against Square
When Square Inc. launched its mobile card reader in 2009, VeriFone
Systems Inc. was on its heels with PayWare Mobile. Now the terminal
maker is ready to roll out another rival to Square with a product it
Whereas VeriFone designed PayWare Mobile for use off the
shelf, it designed Sail for small businesses with technical savvy. It
plans to offer Sail with open-source software that developers can adapt
to work with merchants' inventory software.
Merchants also may use Sail as is, just like VeriFone's
earlier product. Square similarly designed its product for merchant use
right out of the box.
Study Puts Numbers On Mobile Payment ‘Folklore'
Mobile payment is revolutionizing the payments industry, suggests the
widespread sentiment among industry insiders and observers.
But plenty of "folklore" exists regarding which countries are
at the forefront with mobile-payment technology, exactly how "big" the
market is getting in terms of consumer use and how mobile payments will
evolve, Theodore Iacobuzio, Global Insights vice president at MasterCard
Worldwide, tells PaymentsSource.
Dot Chief Sees Prepaid Mobile Payments As Company's Next Challenge
BALTIMORE–Rage against fees on credit cards, not bank accounts,
drove more consumers to using prepaid cards as everyday financial tools,
contends the chief executive at prepaid card giant Green Dot Corp.
"There's an assumption that people who hate banks go to
prepaid (cards), but we don't see that," Steve Streit told attendees
here last week at NACHA's Payments 2012 conference.
Looks To Kindle Underbanked Interest In Its Prepaid Products
The Kindle Fire isn't as capable as Apple Inc.'s iPad. and it isn't as
connected as a smartphone. But its mix of price and features makes it
well suited to serve the underbanked.
The prepaid card marketer Plastyc of New York this week
expects to announce an application for the Kindle Fire, Amazon's $200
Wi-Fi-only tablet. Part of the reason for Plastyc's focus on the Kindle
is that the iPad, which starts at $400 (or $500 for the latest version),
is out of the price range of many prepaid card users.
Remittance Provider TimesofMoney Reportedly Up For Sale
In a sign of third-party payments market consolidation in India, the
owner of TimesofMoney reportedly plans to sell one of the country's most
widely used remittance service providers to a multinational company.
Bennett, Coleman and Co. Ltd., promoter of the Times Group, is
in talks to sell TimesofMoney to Network International LLC, a United
Arab Emirates-based payment card company, according to a May 4 report in
local pink sheet Mint.
Urban Authority To Launch A Commuter National Mobility Card
The Mumbai Metropolitan Region Development Authority plans soon to
launch the National Common Mobility Card that will enable commuters in
Mumbai to access various public-transport platforms across the city.
The Common Mobility Card Called, dubbed More, is an integral part of the
National Urban Transport Policy of India. It is designed to provide a
single means to access all types of public-transport systems throughout