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Mobile technology is permanently changing consumer spending habits, disrupting previously-exclusive relationships between banks and their customers worldwide. If banks and financial institutions are to advance their commercial interests and remain competitive in the mobile age, they need to act now to formulate a sustainable mobile wallet engagement strategy, according to industry association Mobey Forum in [...]

The post Mobey Forum weighs strategic mobile wallet options for banks appeared first on Payments Cards & Mobile.

Payment Generation Gap, a new analysis of UK consumers’ payments habits carried out by Kalixa Group, a next-generation payments company, reveals that UK consumers of all ages still prefer to shop in-store but want faster payment systems to overcome their number one gripe – long queues. The study reveals that 81% of shoppers will shop [...]

The post In-store trumps online for place to shop for UK consumers appeared first on Payments Cards & Mobile.

It’s only over the last few years that consumers worldwide have become familiar with using contactless technology and mobile phones to make payments – but could these methods find themselves consigned to the bin just as they are starting to take off? A few recent developments in the area of futuristic payment technology are going [...]

The post Payment technology gets physical again appeared first on Payments Cards & Mobile.

A US judge has ruled that the Federal Reserve disregarded the intent of the US Congress by setting too high a cap on interchange fees for debit card transactions. The Durbin amendment to the Dodd-Frank financial law required the Fed to ensure that debit swipe fees reflected the actual cost of processing card transactions. In [...]

The post US judge and Federal Reserve in debit fee fight appeared first on Payments Cards & Mobile.

The UK Payments Council is predicting that UK consumers will turn their backs on cash over the next 10 years as cards and mobile payments continue their ascendancy. The number of cash payments made in the UK will fall by a third from 21 billion in 2012 to around 14 billion in 2022, the Council [...]

The post Cash usage set to plummet even further appeared first on Payments Cards & Mobile.