April 6, 2015
Here’s what you might have missed on LTP this weekend, April 3rd - April 5th, 2015:
D+H and Fundtech both provide essential services to today’s financial institutions around the globe. By combining forces, they will serve a client footprint of more than 8000 banks and enterprises in a $5-6 billion market.
With the increasingly popular trend of wearables entering the mobile payments space, how will three of the worlds largest mobile tech companies compete? Apple, Google, and Samsung all seem to be looking to dominate the space through their respective endeavors, Apple Watch, Android Wear, and Samsung Gear.
Microsoft has officially entered the payments and commerce space with Microsoft Payments. The software giant has applied for its Money Transmitter License in all 50 states, and was recently granted clearance in Idaho.
In recent years, MNOs have been struggling to stand out successfully in mobile payments and commerce. It’s time they take a step back and realize the potential for innovation they have in this space.
With the volume of startups being formed in this era, the competition for young companies can be fierce. There is a rising trend of larger companies initiating M&As (Mergers and Acquisitions) with younger startups, which is increasing the value of startups overall and creating more security in a turbulent market.
China domestic smartphone maker, Xiaomi, has partnered with the e-commerce giant, Alibaba, to bring mobile payment capabilities to Xiaomi’s Mi-band. The band will verify payment information through a bluetooth connection with Android phones running the Alipay app.
Competitive challenges such as hackathons are bringing a new wave of innovation to payments. Many large payment companies, such as PayPal and Mastercard, are sponsoring these hacking competitions, in which they offer access to APIs and award prizes to the most innovative creations.
Cardinal is now utilizing Bitnet’s platform to allow merchants to accept bitcoin payments with no cross-border fees. Merchants can display their prices in 60 different currencies, accept bitcoin as payment, and receive funds in their local currency without ever handling the bitcoin themselves.
With the increasing popularity of contactless payments, companies are trying to keep their technologies up-to-date. Creditcall, a company with 14 years of EMV kernel development experience, is teaming up with Payter to bring contactless payment terminals to merchants across Europe.