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Google Wallet Upgrade Adds Multiple Cards Support
The Smart Card Alliance Launches EMV Migration Forum to Bring Chip-based Payments to the U.S.
BarPay Starts Cash Payment System for Online Purchases in Germany
Read more… (German)
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iZettle has to stop processing Visa card payments in Denmark, Finland and Norway where it currently trials its mobile card payment service. The company has released a statement on its official blog, announcing that Visa Europe is forcing iZettle to stop accepting Visa payments on August 1. iZettle will continue to accept MasterCard and AmEx in those countries.
Sweden-based iZettle provides a mobile payment service that enables merchants to accept credit card payments using an iPad, iPhone or iPod Touch. The company is often referred as the European version of (more…)
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ViVOtech to Divest NFC-Reader Business
Payvia Launches Mobile Payment Service in the U.S.
MPowa Debuts Mobile Payment App for Android
UK-based mobile payment service mPowa is now also available for mobile phones using Google’s Android operating system. Android users can now download the mPowa mobile payment app from the Play Store to accept card payments on the go.
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Telefonica Partners with Facebook, Google, Microsoft and RIM for Direct Carrier Billing
SponsorPay Reports 300% Growth in Mobile Business
Dwolla Introduces Places
Peer-to-peer payment platform Read more…
Adyen Adds Access to Eastern Europe via TrustPay
TrustPay, a payment processor in Central and Easetern Europe (CEE), to extend its international reach. The agreement enables Adyen and TrustPay to accept payments in 13 countries in 11 currencies in the CEE region.
American Express to Adopt EMV in the U.S.
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Deutsche Telekom announced a strategic partnership to bring NFC-based mobile payment services to Deutsche Telekom’s 93 million mobile subscribers in Europe. The first product to launch is a mobile wallet app called MyWallet for customers of Deutsche Telekom in Poland this summer. The digital wallet will support various local banks and financial institutions and enable customers to pay contactless at every retail store where MasterCard PayPass is accepted. In Germany Deutsche Telekom will first trial mobile payment with mobile phone tags and NFC-enabled credit cards in order to prepare for the launch of MyWallet in early next year. Other than for example Google Wallet the payment credentials are stored on the users SIM card rather than on the phone itself.
Deutsche Telekom will also extend into financial services and become a credit card issuer for MasterCard. The telco giant will issue NFC-enabled MasterCard credit cards in Europe via its subsidiary company ClickandBuy, the owner of an e-money license.
Thomas Kiessling, Chief Product and Innovation Officer for Deutsche Telekom commented, “This is a huge step on our way to increase mobile payments. With MasterCard we have a well-known and experienced partner generating growth in this important market segment. We want to build a comprehensive ecosystem around mobile payment, helping Telekom to realize its strategy of being the first choice for customers regarding connected life and work”.
Check out the promo video to see how MyWallet works:
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Over the years, credit cards have become the most popular payment methods for online purchases worldwide. Although new payment solutions like PayPal or Bitcoin are gaining traction, credit cards have established as default e-commerce payment method. This is particularly the case for international transactions – there is almost no way around credit cards for online merchants that want to sell international. In this article we take a closer look at the credit card payment ecosystem. The next article will focus on how to choose a merchant account and payment service provider.
How credit card processing works
Credit card processing involves several parties, the customer, the bank that issues the credit card to the customer (issuing bank), the merchant, the merchant bank (acquirer bank) and last but not least the credit card network (e.g. Visa, MasterCard or American Express). In most cases online merchants also use a 3rd party payment service provider (PSP) that bundles a variety of payment methods and acts as a gateway that can connect to multiple acquiring banks and credit card associations. Furthermore a PSP can offer additional services such as risk management, reporting, fraud protection and multi-currency support.
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Online Payment: Braintree Goes Global
Mobile Payment: Facebook Rolls out Improved In-App Mobile Payment Flow
Facebook has launched a simplified and improved payment flow for mobile payments. Carrier billing (or operator billing) has established as one way for game and app developers to monetize their apps. The usual carrier billing payment takes up to seven steps and requires SMS verification. Facebook’s new two-step (1:open payment dialog 2: confirm) mobile payment flow is now available to customers in the U.S. and the United Kingdom. Read more…
Cards: German LBBW Provides German Olympians with Contactless Payment Visa Cards
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Mobile point of sale solutions that allow retail merchants to accept card payments with a smartphone or tablet continue to be a hot topic. Mobile POS services make accepting card payments easier and cheaper, a big advantage especially for small and medium sized companies. See our The Fight for the Mobile Point of Sale article where we provided an introduction to the existing mobile POS services.
So far Jack Dorsey’s Square is the leader when it comes to mobile POS transaction in the U.S. But the competition is heating up. Now even big payment companies start similar services while startups launch Square-like mobile payment products all around the world.
Big payment companies take on the mobile POS market
NFC-based payments. VeriFone charges a 2.7% for swiped transaction (1.95% with a $9.95/m Pro plan).
Mobile POS outside of the United States
Unfortunately Square is only available to customers in the United States so far. Sweden-based iZettle proved that the concept can be very successful implemented in Europe and over the last weeks some interesting services launched outside the U.S.:
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Mobile Payment: Launch of the Smart Card Alliance Mobile and NFC Council
Read more about the Mobile and NFC Council
Alternative Payment: GameStop will sell Steam Wallet cards in U.S. stores
Video game retailer Source
Cards: Ingenico brings EMV and NFC-enabled POS terminals to the U.S.
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