Mobile payments

In the push to get millions of cash-based micro- and small-business merchants to go digital, the two largest card networks are getting a boost from contactless payments' global surge.

JoomPay Europe S.A. is launching a person-to-person payment app throughout Europe that it says will give consumers an instant money transfer tool similar to what U.S. residents have in Venmo, Square Cash and Zelle.

HSBC for the first time is offering customers a way to send funds instantly across borders to other HSBC customers via a mobile device.

In 2017 the creators adapted the technology into a touchless restaurant order-and-pay system that’s seen exponential demand during the pandemic, as dining establishments race to replace paper menus and card payment devices with contactless alternatives.

In addition to monitoring the spike in contactless payments because of the COVID-19 pandemic, Verizon Business has also cited the expected decrease in foot traffic at the largest malls in the U.S. through its mobile data metrics.

Google has redesigned Google Pay to add new financial management and loyalty features; and to offer consumers checking and savings accounts from partner banks and credit unions in 2021.

The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.

The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.

Replacing the traditional POS model will be a cloud-focused and software-defined model that gives shoppers their choice of checkout and reimagines the store experience, says Zynstra's Brian Buggy.

Concerns over cash and checks are permanent and will make contactless mainstream, says Global Market Insights' Vinisha Joshi.

Brazil aims to move beyond the era of cash payments on Monday, when the Banco Central do Brasil launches the Brazil Instant Payment System.

For the 2020 holidays, retailers that enable payment flexibility by catering to global shoppers will prepare themselves for lasting success, ensuring they are on the right side of this industry transformation.

The Interac debit network is expanding online and in-store options for Walmart customers throughout Canada, looking to have new technology in place by spring of 2021.

It's not just payment habits that are changing, but the very nature of what people are willing to buy one another.

Crypto played a key role in Square's 140% year-over-year growth in revenue for the third quarter — and 212% growth in gross profit for the Cash App alone.

Contactless payments, staging and early wage access have built a permanent following and should be part of any alternative financial services mix, says DigitaMint's Marc Grens.

Reflecting the rapid transition to digital payments, PayPal has reported its strongest growth in total payment volume and revenue in its history, coupled with strong growth for Venmo, its P2P app.

The person-to-person network is being used more often for purchasing, with consumer payments to small businesses up sharply.

Amid the global explosion of e-commerce and demand for digital money transfers, Visa is acquiring YellowPepper to help drive tokenization and real-time payments in Latin America.

Cross-border payments provider dLocal has expanded its network services in Africa and developed new partnerships in Nigeria and Egypt.