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Smartphone swipe payment, Starbucks hits $1B, UK carrier joint venture Weve partners, Mobile Payments Index, Payment News

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Payment News for today from our News Aggregation wing: 

1. Theguardian - Smartphone swipe payment scheme unveiled

Tapping a smartphone on a card reader to pay for a sandwich or a bus journey could soon become an everyday event, under a scheme unveiled on Thursday by Vodafone, O2 and EE. Paypal and Google, as well as banks and mobile operators, have been trying for years to create mass market mobile phone payments systems, so far without much success.

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2. Computerworld - Starbucks hits $1B in mobile payment revenues in 2013, analysis says

According to a recent estimate, Starbucks was able to generate a staggering $1 billion in revenue from smartphone transactions used at sales terminals in its stores in 2013 largely due to the fanatical loyalty of its customers. Starbucks won't comment on the $1 billion figure that was recently reported by , based on a BI Intelligence estimate. The estimate was derived using Starbucks' admission that its mobile payment and loyalty app program is used by 10 million customers with an average of 5 million weekly transactions at U.S. stores as well as past mobile revenue numbers Starbucks had given BI Intelligence.

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3. Gigaom - UK carrier joint venture Weve partners with MasterCard to simplify mobile payments rollout

Weve, the mobile wallet and marketing joint venture of the U.K.’s biggest mobile carriers, has announced a partnership with MasterCard that it hopes will accelerate the readiness of stores to take mobile payments. The idea of Weve, which launched last year after EU antitrust regulators gave it the all-clear (its members include Vodafone, EE and O2, but not Three U.K.), is to provide a clearinghouse for advertisers, retailers and banks who want to deal with phone users. If that provides a single point of contact on the carriers’ side, the MasterCard deal is intended to do something similar for the banks, so they don’t have to deploy point-of-sale (POS) technology individually.

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4. Tnooz - Mobile - Enabling Technologies Payments Index show marked increase in mobile payments

Payment solutions provider Adyen has released their third Mobile Payments Index, and the results are clear: mobile payments are poised to pounce. The data covers September to December of 2013, and shows that mobile payments accounted for 19.5% of payments globally. This is an impressive number, which suggests that mobile payments are gaining momentum on their traditional counterparts.

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MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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