Mobile payments

To Diebold Inc., the nation’s largest ATM maker, the ongoing shift to omnichannel commerce is as much a threat as it is an opportunity.

As the spread of mobile technology continues to erase borders, more companies are teaming up to bring their offerings to audiences they would have been unable to serve just 10 years ago. Many of these companies already had global reach, but needed the technology or local expertise of a partner from overseas.

They are barely out of college, but this young generation of consumers has already shortened payment technology cycles, forced virtual currency into the mainstream, and left processors scrambling to stay relevant.

Wal-Mart Stores Inc. has been pushing ahead with EMV card adoption and the Merchant Customer Exchange mobile wallet, but gave little to no attention to them during its Feb. 18 conference call to discuss fourth-quarter earnings.

Apple Inc. introduced its mobile payments system to China through a partnership with China UnionPay Co. as the iPhone maker teams with the country’s largest clearing network to spur usage.

Cardless ATMs are still a rare sight in the U.S., but the use cases are proliferating for companies that want to upend traditional cash machines.

M-commerce and payments are a tsunami that no retailer can ignore, but engaging consumers on mobile, and more importantly, converting consumers, remains a challenge for retailers of all sizes.

The speed required by omnichannel commerce extends not only to payments and processing, but increasingly, also to vetting, registering and onboarding new users.

ACI Worldwide has begun to lend a hand in The Clearing House’s effort to create a real-time payments system in the United States.

As it seeks new business in Europe, PayPal is expected to soon launch a partnership with Vodafone that would allow Android smartphone users to make contactless tap-and-go payments at the point of sale. At the same time, Apple has begun securing bank partnerships for an imminent launch in China, according to reports.