Mobile wallets

The modern mobile wallet no longer uses a card as a crutch. Instead, it sees it as an additional product that can add revenue from interchange, lending and loyalty.

People who order groceries for delivery may be using digital payments or a plastic card to pay for their food, but the person picking up the groceries may be making a separate payment at the point of pickup — and in the process, influencing the global shift toward contactless payments.

Many companies are postponing product rollouts until the economy improves, but the Samsung Money debit card could be better suited for spending habits during the coronavirus pandemic.

Criminals developing EventBot malware built it to take advantage of businesses and humans turning to mobile banking and payments in the current coronavirus crisis — but also to update itself on the fly to become more insidious in the future.

One of the selling points behind multi-account payment cards is the ability to shift spending on the fly or shortly after shopping, such as to fund a recent purchase with loyalty points. During the pandemic, this feature may become a key financial management tool.

While an EMV transit system is a form of account-based ticketing (ABT), this assimilation is problematic, says OSPT's Jean-Philippe Wolyniec.

The advent of open banking gives EMIs a once-in-a-generation opportunity to carry on doing what they do best, but doing it faster, cheaper, and with broader horizons, says Token.io's Stefano Paoletti.

Google’s reported plan to offer its own version of the Apple Card is less of a play for credit and more of a play for its mobile users' bank accounts.

Huawei Pay hopes to benefit from UnionPay's network and scale as it launches in Singapore, a market that already has several large mobile pay apps including Apple Pay.

Cash and digital payments don’t have to be mutually exclusive; this is not a zero-sum game as the two payment options can exist together, says PPRO's Steve Villegas.

Japanese digital wallet provider Kyash has raised $45 million in a fundraiser to expand its mobile offerings to help Japan convert to a cashless society during the coronavirus outbreak.

The coronavirus stimulus package has resurrected calls for the U.S. government to offer a central bank digital currency, public mobile wallets and postal banking—controversial ideas that are hard to pull off, but exist outside the U.S. and could dent interchange fees and private stablecoin projects like Facebook’s Libra.

Today’s consumers increasingly live in a world of customization, and their expectations mirror the need for a seamless consumer experience that addresses their personal preferences, says Envestnet/Yodlee's Brandon Rembe.

TransferWise has partnered with Alipay to expand money remittance options for its users to instantly send Chinese yuan to friends and family in China.

Digital financial technology provider Wirecard AG is partnering with Grab to process transactions from the GrabPay e-wallet in Malaysia, the Philippines and Singapore.

If a checking account doesn’t come with checks anymore, can it still be called a checking account? It’s a valid question that the financial services industry should be asking itself.

Wells Fargo hopes to anchor its debit card at the top of customers’ digital wallets with a promotion offering users a $5 credit.

The global efforts to contain the coronavirus outbreak are leading to drastic actions that test the limits of what consumers will accept when governments and other entities use their payment data.

Coronavirus, also called Covid-19, is wreaking havoc on the stock market, with a heightened effect on the travel industry. It could also cause a drastic change in payment habits, as consumers shift to digital channels to reduce their risk of infection from handling cash.

The U.S. telco sector has worked hard to control the mobile wallets developed on its phones. While its earliest efforts didn't last long, companies like T-Mobile and Sprint took decidedly different paths to reach where they are now.