Merchant Consumer Exchange, the organization behind the forthcoming merchant-owned mobile payment solution CurrentC, says it has an exclusive agreement with its retailers that prevents them from accepting solutions like Apple Pay and Softcard.
While Bitcoin has attracted an oversized amount of attention, both positive and negative, several executives at financial services firms are increasingly looking past Bitcoin to the blockchain technology that underpins it--and they see strong potential for financial services.
When Apple entered the competitive mobile payment space this fall with its launch of Apple Pay, it was hailed as the solution that would rise above the pack, buoyed by an easy-to-use design and a fiercely loyal customer base. But now, the company is seeing just how competitive that mobile payments landscape is, with retailers Walmart, Rite Aid and CVS all reportedly shunning Apple Pay in favor of solutions that they have had a hand in developing.
Scott Saunders, the founder of peer-to-peer lender Payoff says that much of traditional lending is "aimed at keeping borrowers in a perpetual state of debt." He is looking to shake up...
Looking at the number and variety of entrants in the mobile payments space, it's clear that a wide cross-section of businesses and industries see it as a market with abundant potential. Yet no single product has a dominant hold on the market, and views differ on the technology, functionality and framework of an eventual solution, making it difficult to define just where the industry is in its evolution.
French banking group Groupe BPCE and Twitter have teamed up to offer a service that allows Twitter users to send money to their followers. The service, called S-Money, allows money to be transferred...
After the fanfare over Apple's release of the iPhone 6 and the Apple Pay function starting next month, it could be Apple's embrace of "tokenization" that has the most potential to fundamentally change payments. With uses abound, tokenizaiton has as much potential for businesses as it does for consumers and retailers, an executive with enterprise software giant SAP says.
Apple's much-anticipated entrance into mobile payments uses fingerprint scans and tokenization to emphasize security and usability. The release, coming a year or more after rival mobile payment schemes from competitors such as Google, PayPal and mobile carrier-backed Softcard, aims to correct some of the hiccups that have drawn criticism for its predecessors.
If rumors hold, Alibaba's IPO, potentially one of the largest ever, may launch as early as next week. The U.S. banking industry, wary about where the next disruptor to its business model may be coming from, might learn a thing or new from studying the Chinese e-commerce giant.
The U.K. is aiming to be number one in the world in financial technology development, and the path toward achieving that top status will involve embracing Bitcoin and other cryptocurrencies, British...