Whilst in hindsight 2015 was by no means “the year of Apple Pay” that Tim Cook predicted, it was certainly the year of mobile payments – in the sense that’s when the technology got more traction. Apple Pay had notched its first full calendar year on the market and Samsung and Google both started rolling out its own Pays.
In 2014 there were only seven banks that offered services that worked with mobile payments, now Forbes says there are 55. Apple Pay alone added 20 new US banks this month and finally broke into (properly) Australia. The company also revealed that it is adding one million users to the payment service.
This infographic from Forbes, with the research conducted by Juniper Research, shows that the rise of mobile and wearable payments started slowly but is growing exponentially.
Apple is clearly the battering ram, breaking down resistance and paving the way for smaller or different companies to make the most of the new infrastructures that come with Apple Pay. Even Samsung is second in that sense, but that may soon change given the drop in iPhone sales and more importantly the fact that Samsung Pay actually works with the older magnetic stripe card terminals.
The Emerging Payments Association (EPA) held a conference on Wednesday, 11 January to discuss its most recent report, and discuss the impact ... read more
Following a milestone in August, when spending via contactless accounted for 20% of all card transactions in the UK, the technology has reached another: contactless now makes up a quarter of all UK card transactions, according to the latest figures from the UK Card Association (UKCA).
It’s no secret that customers increasingly prefer to use mobile banking apps to manage their cash ‘on-the-go’ over online banking.
The increase of ATMs installed away from bank branches is being driven by factors including banks' efforts to be more cost-effective, and the rise of independent ATM deployers, new research from RBR suggests.