Hold the phone! Google Wallet appears to have a security leak.

If the world of mobile and contactless payments moves so fast it seems like a wild ride, MasterCard Worldwide and Lo-Q PLC have targeted the perfect setting.

Could consumers’ fears about crooks intercepting their financial data and spying on their locations dampen adoption of mobile payments?

Banks trying to make up for lost revenue should consider adding fees for new products and services such as mobile banking or payments, rather than charging customers for using debit, market-research experts at Mintel Comperemedia advise.

Fraud has not yet become common through mobile-banking channels, but experts warn that cyber criminals likely have mobile banking and mobile payments on their radar.

Google Inc. could score much-needed points in the mobile-payments market if rumors prove true and the company succeeds in launching its Google Wallet application in London in time for the 2012 Summer Olympic Games, one mobile-marketing expert believes.

Young, tech-savvy adults may be the quickest to embrace new technology, but don’t bet on them trusting social media sites or funky startups with their cash. Banks win out easily, at least for now.

More consumers are using smartphones to pay monthly bills, and cards are their preferred method of payment, according to new research from Fiserv Inc.

A wristwatch in the United Kingdom can do a lot more for its owner than provide an accurate time, if it happens to be a new watch2pay model that can complete contactless payments.

Verizon Wireless’ decision to deny Google Inc.’s mobile wallet a place on the upcoming Samsung Galaxy Nexus smart phone likely has more to do with compensation than security, some observers contend.

Starbucks Corp.’s ability to integrate its closed-loop prepaid card with a loyalty program has helped drive customer usage of the company’s smartphone application to make mobile payments, notes one industry observer.

Meriwest Credit Union of San Jose, Calif., will use VSoft Corp.’s technology for remote deposit capture in branches and at ATMs, the vendor announced Dec. 6.

As it charts its course in mobile banking, Ameriana Bank faces competition in its eastern Indiana footprint from much larger banks that have been offering mobile banking for years, such as JPMorgan Chase & Co. and PNC Financial Services Group Inc.

MFoundry Inc. has received $18 million in growth capital, the mobile banking technology provider announced Dec. 5.

PhoneFactor Inc. has added a smartphone application to its suite of out-of-band security products, the company announced Dec. 5. But its effectiveness will depend on user participation, one observer contends.

Fundtech Inc. on Nov. 30 announced the completion of its merger with Bankserv Inc. and, in conjunction, the company discussed plans for a new set of products.

MasterCard Worldwide and mFoundry Inc. are developing an application that will combine mFoundry’s mobile-banking software with MasterCard’s PayPass contactless-chip functionality, the companies announced Dec. 1.

China UnionPay has enabled more than 3.8 million merchants to accept Near Field Communication-based payments as part of a push to expand mobile-payments acceptance in China, a spokesperson for the card organization tells PaymentsSource.

The Indian Ministry of Finance is considering reducing the interest rates banks can charge on consumers’ outstanding card debts to make owning credit cards more affordable and to encourage mobile payments.

Seamless Distribution AB believes it has developed a mobile-payment method that replaces the need to shop with credit and debit cards, thus saving money for merchants who no longer would have to pay card-related fees, the payments software company announced Nov. 29.