Mobile payments

Ideal Payments, a provider of payment solutions based in Baghdad, has launched a mobile payments app in Iraq.

Mobile technology is radically changing the way people hail taxis, book lodging, consume entertainment and find prospective dates, but the same magic isn’t happening with how people spend money.

History is filled with the stories of failed mobile wallets. The few that survive today have found a way to set themselves apart.

E-commerce payment gateway Instamojo is adding digital wallet payment acceptance to its platform, further pushing initiatives to have consumers in India using less cash.

As merchants and app developers seek to emulate disruptors like Uber or Airbnb by embedding payments in the user experience, the pressure will mount to be one of the few apps that consumers regularly use.

Chinese handset maker Xiaomi has entered China’s booming mobile payments market with Mi Pay, a contactless payments service running on China UnionPay’s network with support from 20 local banks and six mass-transit systems in the country.

The mobile wallet is transforming from a standalone app into just a feature of a bigger commerce system. Here are a few companies that have done away with the wallet concept.

Mobile can make in-store payments easier and add dimensions to marketing, but consumers will drive the shopping experience, placing unprepared merchants at a disadvantage.

As the threat of card not present (CNP) fraud continues to rise, a recent survey suggests many consumers are willing to take extra steps during a transaction to block online card fraud if their bank offered the option.

U.K.-based startup called Moneybox has launched a microinvesting app to encourage the millennial generation to invest the change that results from payments.

Samsung is adding support for Samsung Pay contactless payments in its new Gear3 smartwatch amid a marketwide proliferation of transactions for connected devices and clothing.

CHICAGO – Mobile wallets are evolving in the key areas of availability and consumer awareness, but they continue to lack in the critical aspect of convincing users of their value, said Google executive Jack Connors.

Payworks, a payments technology services company, has launched a cloud-based payment infrastructure for processing in-person payments.

Credit card rewards programs were born in the heyday of plastic and paper. As payments go digital, banks will have to make sure their loyalty programs keep pace.

Banks in Australia want Apple Inc. to open its Apple Pay NFC controller to third parties, and while regulators weigh the case, U.S. banks are itemizing their own, related grievances as the mobile payments service nears its second anniversary.

India is bringing peer-to-peer payments to the country through 21 banks, including Axis Bank, Icici and Yes Bank.

Banks are playing a more active role in the next phase of fintech, both as investors and partners, says David Sica, partner at venture capital firm Nyca. That change is shaping how the firm looks at new investments.

Successful platform businesses in the 'Uber/Airbnb' age aren't just about matchmaking. There are also value added services that enrich the experience, and keep customers coming back.

Large merchants are EMV-ready, but they're less likely to support NFC-based mobile payments; the opposite is true for smaller merchants.

The era of banks and fintech companies cozying up to each other is in full bloom. Fintechs realize they can better disrupt the industry from within, while banks are looking for partners to help them navigate the digital world. Here's a look at how banks worldwide are buying, investing in and in some cases lending to fintech firms.