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Samsung Pay: interview with EVP Injong Rhee
There has been a lot of enthusiasm for Samsung’s mobile wallet, Samsung Pay, and the ways in which it differs from other mobile payment systems. Samsung Pay launched in Korea last month, and the mobile payment solution has already proven its biggest advantage is its nearly universal merchant acceptance with both of NFC and MST(Magnetic [...]
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Retailers extremely focused on payment innovation
Payment innovation in the retail industry is rapidly changing, driven by consumer adoption of mobile smart devices. Because of recent well-publicized data breaches and payment card fraud, retailers have turned their attention to the dual challenges of data security and fraud prevention, even as they try to keep up with the demands of digitally enabled consumers. [...]
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Global mPOS installed base to quadruple to 54 million units
Mobile point of sale (mPOS) growth continues as the technology deepens its reach across vertical industries, merchant tiers and geographies. 451 Research projects the global mPOS installed base will grow from 13.3 million units today to 54.03 million units in 2019. Diverse factors including enterprise deployments, expansion into new vertical industries and financial inclusion in [...]
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Amex loses out at POS
After years of prohibiting merchants who accept its cards from steering customers to other brands, American Express is being forced to lift those restrictions. The change comes after a federal judge in February found that AmEx’s rules on the matter were anticompetitive; a separate court this week denied the company’s request to keep the rules in [...]
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Cash overtaken by ‘non-cash’ payments in 2014
Figures published today show that the total number of cash payments made by consumers, businesses and financial organisations in the UK fell to 48% last year (from 52% in 2013). This is the first time that ‘non-cash’ payments have exceeded those made with cash, reflecting the steady trend to use automated payment methods and debit [...]
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