Welcome to the new PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web:
Not a happy holiday for Apple Pay: While the Thanksgiving weekend kickoff to the holiday shopping season was a record-setter for mobile commerce, the rising tide is not lifting all boats. Third party mobile wallets such as Apple Pay, Samsung Pay and Android Pay are still struggling to gain traction, reports Fortune. Almost 90% of in-store payments came from credit cards on Black Friday, but mobile phone payment apps accounted for just 0.6%, the magazine reported, citing figures from payment processor Cayan. While that's double the number from 2015, it's akin to a "rounding error," Fortune reports. And even in the most successful state, tech-savvy California, the third-party apps accounted for just 1% of total in-store payments.
U.K. cash draws protesters: Unlike India's cash crisis, in the U.K. people are alarmed by new cash being introduced rather than removed. The Bank of England's new plastic 5 pound note contains tallow, or a form of beef or mutton fat. A petition has been launched to protest the new money, saying it's unacceptable to millions of vegans, vegetarians, Hindus, Sikhs, Jains and others in the U.K. By Monday, about 15,000 people had signed the petition, according to Finextra.
Pay Bitcoin...or pay: Hackers are warning victims to pay a ransom in Bitcoin, or else their personal account information will be released. According to Cointelegraph, the crooks who hit Valartis Bank Liechtenstein are threatening to release personal details of bank customers unless the victims pay 10% of their account balances in Bitcoin. The victims apparently include a number of public figures in Liechtenstein, such as actors and politicians.
Indian cash's global effect: The Indian cash crunch has hit the U.S., at least indirectly. U.S.-based ATM operator Euronet Worldwide reports its earnings will suffer because of the situation in India, according to a release from Nasdaq. The ATM vendor reports the cash shortage in India will hurt revenue from its 12,000 ATMs in India, and its remittance payout business in India will also suffer. The company reports business should stabilize in 2017, but it has revised future earnings guidance down to $0.98 to $1 per share from $1.07 per share before the India crisis.
From the Web (powered by Wiser)
All-The-Time Mobile Shopping Heads Into Holidays; 56% Can't Imagine Life Without Phone
MediaPost • Chuck Martin
As the annual mobile commerce benchmark of holiday shopping approaches, various pre-holiday shopping studies provide insights into where mobile may fit this time around.
The Future of the Global Mobile Payment Industry
Business 2 Community • Stacey Rudolph
It is anticipated that nearly 80% of total internet usage will be done via mobile devices. Consequently, it is also expected that mobile payment is the future commerce. Instead of cards and cash, many internet users are now using their smartphones to..
Apple wins against Australia banks over mobile payments
Gulf News • Bloomberg
After the Australian competition regulator refused to grant a group of local banks permission to negotiate collectively over Apple Pay
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