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...
Through a partnership with UK payment network Payzone, San Francisco-based bitcoin payment processor ZipZap will enable bitcoin purchasing at 20,000 retail locations throughout the UK. The partnership is part of an international effort to "democratize" access to digital currency.
Americans are wedded to their cell phones, and nearly two-thirds have at least tried mobile banking. But comfort levels with mobile banking services vary by function, and while most are comfortable using smartphones to deposit checks, comfort levels with mobile wallets remain low, a Bank of America study shows.
A mobile malware application that specifically searches for banking apps on a mobile device has already hit 100,000 smartphone users in Korea. The android Trojan app pretends to be a popular game,...
With a couple taps and a wave of the cellphone at checkout, your items are purchased, receipts are electronically received and stored and expense tracking applications are adjusted to incorporate the latest purchases into the monthly budget. That is the future that banks, wireless carriers, retailers and online powerhouses like Google and PayPal are jockeying to define.
To imagine the impact bitcoin might have on payments, it might be worthwhile to compare it to Napster. "When Napster started, the guys were sued by the music industry because they were...
For a while now, parties interested in mobile payment have been eyeing the space to see what will be the catalyst to take mobile payment to the next level. Apple, because of the iPhone's dominance in the mobile phone market and the loyalty of its user base, is viewed as having the potential to be that game changer.