Mobile wallets

Chase Pay was years in the making, and it's still finding new ways to reach its intended audience. On the surface it seems like a simple QR code-based mobile wallet, but underneath it's far more complex.

PNC's new consumer lending platform will be marketed on a national scale.

While consumer adoption of mobile payments remains sluggish, research behind the scenes to figure out what consumers want from mobile apps is brisk. Proprietary mobile apps from retailers are becoming a hotspot of development, with Target Corp. rolling out Target Wallet this week, joining numerous other retailer mobile apps.

After nearly two years since the news broke of its plans to launch its own digital wallet, Target has finally launched Target Wallet, joining the myriad retailers that have gone with their own proprietary mobile payment solution.

If CVS acts quickly and truly pushes synergies between its retail and insurance businesses, there is time for the company to establish a unique value proposition in reshaping the pharmacy experience.

New York's World Trade Center-based Oculus will host Chase Pay Village until Jan. 7 with an emphasis on holiday wares. Part of its mission is to determine which of Chase's mobile wallet features — if any — are most compelling to shoppers.

Mobile wallets have always had a chicken-and-egg problem: Why should merchants accept them if consumers don't use them, and why should consumers use them if merchants don't accept them? To solve this problem, it takes a village.

Norwegian banks have been keenly aware of — and concerned about — the prospect of mobile wallets developed in Silicon Valley affecting their own services. So much so that a group of banks has begun preparing to merge their payments systems into one platform and have it up and running by next August.

When a coder locked $150 million of digital currency stored in Parity digital wallets last week, many bankers probably saw it as another reason to ignore cryptocurrencies. Instead they should recognize the business opportunity (key custody) that the incident presents.

By learning from others’ mistakes, CUs may be in a position to make real strides forward in digital wallets, despite lackluster adoption rates seen in this space thus far.

Over the years, Square has evolved from a supplier of simple card readers to a provider of diverse omnichannel services. But the consumer market has always eluded it.

Many companies in the payments realm want to be seen as the next Uber, but Uber's Asian counterpart Grab is working to become something else — the next Octopus.

Apple's digital services group, which includes Apple Pay, generated $8.5 billion in revenue in the quarter for Apple, a jump of 34% from the previous year.

Telcos have long hoped to play a key role in mobile payments, and the mobile-only Orange Bank is a major push toward that goal.

As retailers look to bring payments in-house, there are various approaches to consider, writes André Stoorvogel, director of product marketing for payments at Rambus.

Grab, Southeast Asia’s largest ride-hailing app, is kicking off a new digital wallet service in Singapore as it stakes a claim to the region’s burgeoning mobile payments sector.

Three of Australia’s largest banks—Wespac, Commonwealth Bank of Australia and the National Australia Bank—have joined forces for a mobile wallet joint venture called Beem, with person-to-person payments as the first use case.

PNC Financial is joining the mobile wallet trend with PNC Pay, timed to capitalize on some of mobile payments’ latest innovations.

Many companies in financial services say they want to be the next Uber. But the reverse may also be true, with the ride-sharing company adding a cobrand card that can be managed from within the Uber app.

Some credit unions are beginning to offer payment services via wearable technologies, but many say it will take further declines in the pricing of those items before they are widely accepted by consumers or financial institutions.