Mobile wallets

Bradley Riss is chief commercial officer at Checkout.com, a firm that acts as a payment gateway, acquirer and processor through a single channel, covering cards, passthrough wallets, stored value wallets and alternative payment options such as point of sale credit. It charges a fee based on processing and card payment costs rather than the percentage+ model that most payment API companies charge. The model is designed to make the service customized to different merchants and serve as a base to offer other merchant products.

In-person branch use will continue, but retail banks should nonetheless double down on building intuitive, easy-to-use mobile experiences that drive customer satisfaction and brand loyalty.

The pandemic has brought new users to the technology, making a simpler experience more important, says Tappit's Jason Thomas.

The option to transact using Chase Pay will be removed from all merchant websites and apps by the end of the month.

Norwegian browser Opera Limited has launched Dify, a wallet that will support payments and cash-back rewards through a virtual Mastercard debit card.

New technological innovations, consumer behavior shifts, competition from fresh digital entrants, and regulatory reforms herald the payment environment of tomorrow. In addition, the current pandemic is pushing players to rethink their market fundamentals in an already transitioning industry. Join John Adams, Executive Editor of PaymentsSource and our special guest, Andrew Jamison a virtual card expert with twelve plus years at American Express and CEO & Co-Founder of Extend, in a discussion about the business strategy, management, and innovations in the post pandemic ecosystem and how it can serve the way the economy is headed.

Safaricom Plc. is in negotiations with fund managers, investment banks and insurance companies to partner on a raft of mobile phone-based savings and wealth-management products, Chief Executive Officer Peter Ndegwa said in an interview in Nairobi, Kenya’s capital.

Ant Group Co. and a venture led by Grab Holdings Ltd. won licenses to run digital banks in Singapore, paving the way for the technology giants to expand their financial services in the Southeast Asian hub.

Apple Inc. phones face scrutiny from Dutch antitrust regulators who are probing whether users get a free choice of financial apps with contactless payments.

To address a growing demand for contactless payment methods during the coronavirus pandemic, 7-Eleven has launched a mobile wallet for customers to use at participating U.S. stores.

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.

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

In a battle between two giants of ride-hailing and payments, Grab beat out Go-Jek to lead a $100 million fundraising round for the Indonesian government-backed e-wallet provider LinkAja.

As challenger banks threaten Green Dot Corp.'s status among the underbanked, the prepaid card issuer is diving into their market by unveiling a challenger bank of its own.

Daniel Wolfe, Editor-in-Chief of PaymentsSource, talks with Jay Klauminzer, CEO of Raise, to talk about how the company adapted to abrupt, long-term change in consumer payments.

Payments technology entrepreneur Will Graylin is launching OV Valet Superkey, a payment card and digital wallet that can initiate touchless payments at more than 90% of all payment terminals. It pairs with an app that supports messaging and live chat functions.

Amid the disruption of the coronavirus pandemic, many companies are taking a chance on innovative new technologies to keep their customers engaged.

Paytm’s decision to open its own app store after Google forced developers to use its billing system was a predictable move, as is the potential for fintechs to steal payment volume from the technology giants.

The trends were already pushing new payment experiences, which now seem less futuristic, says VeriTran's Omar Arab.

The threat has been exacerbated during the pandemic, as shelter in place orders forced consumers inside and businesses to close their physical doors, while simultaneously opening online ones, says Sift's Kevin Lee.