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27Jun/12

Payment News – June 27, 2012: Apple NFC Payments, MyWallet, Traxpay

By Martin Schuppelius
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Payment Observer has details on multiple companies that provide funding, atm, and credit card processing services. Get more information and details here.

Apple’s New iPhone to Support NFC-based Mobile Payments 

Windows Mobile Wallet service.

Swedish Operators Launch Mobile Payment Service MyWallet

MyWallet, a mobile payment service that is available to almost all mobile phone users in Sweden. MyWallet is the first mobile payment service of this kind in Sweden. With MyWallet users can initiate person-to-person transactions, top up their prepaid card, pay for online purchases and buy tickets for public transport.

B2B Online Payment Startup Traxpay Raises $4M    

Traxpay has received a $4 million investment led by Earlybird Venture Capital. Traxpay provides an real-time payment solutions for enterprises. The funding will enable Traxpay to continue its growth in Europe and prepare for its expansion into the United States. Jason Whitmire, Partner at Earlybird commented: “Online B2B payments represent a nearly $250 billion market with many inefficiencies, and we think it is a massive opportunity for innovation. Traxpay’s unique blend of enterprise software, payments and banking expertise will deliver one of the most disruptive technology solutions since Paypal reshaped the B2C payments market.”

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15Jun/12

Apple Reveals Mobile Wallet App Passbook, Mobile Payments to Come Next?

By Martin Schuppelius
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Payment Observer spotlight company. See more details here about one of the up and coming service providers in the financial services for small business.

Passbook” that aggregates loyalty cards, tickets and passes and stores them in one central place. The app shows a QR code that can be scanned to redeem tickets at a concert or earn rewards at a retail store. The app also features location-based services. It can be configured to pop up automatically and show your loyalty card when you enter your favorite Starbucks. Another nice feature is the notification service; Passbook can alert the user when for example a flight is delayed or the gate changes.

The Passbook app doesn’t look very special at first sight. Digital wallet apps are nothing new; in fact there are several other apps available that have pretty much the same functionality such as the 400 million App Store accounts with linked credit card information. Today, customers can only use their account to buy digital content within Apple’s ecosystem. With Passbook Apple could offer a payment solution for a wider range of goods and services and become a major player in the mobile payment market.

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