Last week, Visa teamed up with Better ATM Services to debut a gift card that is dispensed out of ATMs. Three credit unions in Arizona are participating in this new pilot program. Although advertised as a gift card, the ATMs are really distributing a Visa prepaid credit card. It is similar to other prepaid cards, [...]
Former President of PayPal, Scott Thompson, was named CEO of Yahoo last week. Thompson is well known for driving growth and development of PayPal’s recent mobile payments projects. This is a big loss for PayPal, just months after PayPal lost key players Osama Bedier and Stephanie Tilenius to Google. Yahoo has made no moves or [...]
Verizon Takes The First Swing In The Mobile Payment Fight
Uncategorized ~ December 6, 2011 0 Comments
The NFC mobile payment war has officially started, with Verizon Wireless announcing that Google Wallet will be blocked on their new Samsung Galaxy Nexus smartphone. Verizon said they blocked the increasingly popular application for security reasons. Verizon’s move is quite controversial, and brings up issues of “network neutrality” as well as “anti-competitive behavior.” Does Verizon [...]
By Ib Olsen and Andrew Shen Near field communication (NFC) mobile payment is quickly being pushed into the mainstream around the world. It offers the convenience of paying using just your mobile phone, and has the potential to completely eliminate the need for wallets. With NFC, people can make instantaneous payments and financial transfers [...]
Many companies have initiated testing of systems that allow consumers to make credit card purchases with near-field communication chips in their smartphones, and Wells Fargo is just the latest to join the fray. In the near future, about 200 employees at Well Fargo’s San Francisco offices will begin testing a payment system that allows consumers [...]
European Union finance chiefs last week agreed plans to ease cross-border payments by credit and debit cards as well as electronic bank transfers across the 27-member bloc. They also warned that economic recovery in the EU was threatened by internal economic imbalances in some member states. Under the new payment rules, consumers will profit from [...]