Banks and Mobile Payment Providers are Stepping Up Their Game; Bitcoin Wallets are Becoming More Practical

Here’s what you might have missed on LTP this week, March 30th, 2015 - April 2nd, 2015:

National Merchants Association Partners with PAY.ON to Offer Cross-Border Capabilities

By utilizing the integration of PAY.ON’s flexible and secure payment infrastructure, NMA plans to expand its cross-border connectivity into the Canadian market and beyond.

Bank of England Discovers a Major Fault in its Payment System

On October 20th 2014, Bank of England experienced a disruption of the Real Time Gross Settlement system. After a 9-hour service disruption the system was restored, and an independent review was initiated to discover the cause(s) of the incident.

33 Percent Increase in Mobile Banking Users, Says New Federal Reserve Report

A recent report by the Federal Reserve Board has revealed new statistics of mobile banking usage. Mobile banking has become one of the most available forms of banking, accessible by those who normally wouldn’t have convenient access to banking facilities.

3 Dark Horses of the Payments Industry

With the plethora of changes and innovations sweeping through the payments market recently, we decided to take a look at 3 game changing players: ClearXchange, NXP, and Feedzai.

7 Amazing Transit Based Mobile Payment Systems Not to be Left Unnoticed

Here are seven companies and collaborations making innovative use of mobile payment solutions in the transit market:

  • Madrid Public Transport & Gemalto
  • HopOn
  • SFMTA & GlobeSherpa
  • Metra
  • Semble
  • China Mobile & Gemalto
  • MasterCard & Cubic Transportation Systems

Vodafone Wallet Will Soon Let You Make Contactless Payments

Vodafone is bringing full mobile wallet capabilities to its European users. Consumers will be able to load payment cards onto their NFC enabled Android phones, along with loyalty cards.

Hey Apple Pay, Watch Out for Samsung as Well

Samsung has no intentions of letting Apple or Google leave it behind in the mobile payments space. After introducing Samsung Pay to compete with the two tech giants’ mobile wallets, Samsung recently revealed patents for a smartwatch utilizing biosignal verification.

The Most Impactful API in The World Ever; Banks & MNOs – It’s Your Turn

FIs and MNOs, in recent years, have attempted endeavors outside their primary competencies. Instead of spending resources on initiatives that stretch their capabilities, why not learn from another older industry instead?

Now Location Based Authentication for Merchants as Well

Zumigo Corporation, Visa, and BillGuard are all taking steps to bring you safer transactions in this day and age through geo-location technologies. These include innovate solutions ranging from usage-location tracking, to GPS verification with a registered smartphone when making a purchase.

Probably the Best Payments System in the World has Little or No Mobile to it

The contactless Octopus Card was originally launched as a way to pay for public transport in Hong Kong—it can now be used to make purchases at over 13,000 retail outlets and 6,000 service providers. Maybe there’s hope for a mainstream Apple Pay yet.

BofA Files Patents Related to Mobile Banking & Video ATM Terminals

Bank of America has quite a few patents swimming around, and one of them seems to involve letting you Facetime a bank-teller from an ATM. This could lead to quicker and simpler troubleshooting and reduce wait times at your favorite local ATM.

PayPal Was in $7.7 Million Worth of Trouble Due to Illegal Payments

PayPal almost got itself into a bit of trouble the other day, as a result of inadequate screening on a few transactions. The hiccup will cost PayPal a $7.7 million fine to the U.S. government, which has been cracking down on financial institutions as of late.

8 Highly Secure Bitcoin Mobile Wallets You Would Want to Know About

Here are eight secure bitcoin wallets currently on the market you may not have known about:

  • Aegis
  • BitGo
  • BitStash
  • Copay
  • EasBit
  • HyprKey
  • Wipo
  • Xapo

Ingenico Launches All-in-One mPOS Solution with Support for Multiple Technologies

Ingenico has all of its bases covered with its newest mPOS solution the RP450c. This piece of hardware will be capable of accepting payments through Mag Stripe, EMV, and NFC.

This Payment Solutions Provider from India is Poised to Raise $200 Million this Year

Oxigen is looking to expand, and it has its eyes set on the payments & remittance market. It is currently awaiting its payments bank license from the Reserve Bank of India, and wishes to be part of the Indian government’s financial inclusion program.