Mobile wallets

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.