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Having initially dismissed reports of the leak of 100 million customer files on the dark web, Indian payments processor MobiKwick has brought in external investigators to conduct a forensic data security audit. 
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Revolut has rolled out touch-free QR code-based payments for business customers across Europe.
Vineet Anand's insight:
Revolut small merchants app to use QR code payment acceptance from customers.
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​Introducing an easy, quick and secure way to pay with your iPhone, available for all Monese personal cards​
Vineet Anand's insight:
Apple Pay expands to Monese in UK and N26 in Germany. Apple Pay’s volume more than doubled annually to reach 1.8 billion transactions in Apple’s fiscal Q1 2019; its success in international markets with 85% of its users outside of the US. The UK is a particularly promising growth market for Apple Pay home to contactless payments for over ten years ago.
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The retailer unveiled Walmart Pay, a new mobile payments system that allows shoppers to pay for in-store purchases via Walmart's iOS and Android app.
Vineet Anand's insight:
Walmart Pay, a QR based payment for in store payments using debit, credit or gift card launched today. The Walmart app has 22 million active users per month and integrating the system with some secure features like 4 digit pin or touchid have been included. This move by Walmart ahead of CurrentC and developed independent of CurrentC is likely a sign of merchants frustrated with delays in CurrentC which is currently in pilot for 2016 rollout. Walmart does not use NFC and is integrated with customer app account with a one-time set-up processes which will take a few steps. In another communication Walmart mentioned opening itself to accepting the likes of Apple Pay, and Android pay including CurrentC and the recent announcement of Chase Pay. A lot of 'Pay' choices for the customer!
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Finextra: WeChat, the social messaging app developed by Chinese e-commerce outfit Tencent, has launched a mobile wallet service in South Africa in partnership with Standard Bank.
Vineet Anand's insight:
WeChat launches wallet service in South Africa with Standard Bank. Wallet allows users to store credit and debt cards in addition to Instant Money vouchers. Wallet will allow online and offline transactions at select merchants.
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Finextra: MasterCard is bidding to develop a standard technical specification to ease the integration of retailer loyalty programmes with bank-issued mobile payments apps.
Vineet Anand's insight:
MasterCard is demonstrating its middleware application that will enable mobile applications to offer connectivity between payment, promotions, and reward redemption using a standard approach!
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Walgreens First to Launch Loyalty Program Integration with Apple Pay- Balance® Rewards members can now seamlessly use their account through Apple
Vineet Anand's insight:
Now you can add Balance Rewards card to the Wallet app for use at checkout with Apple Pay. As more retailers add rewards to the Wallet app, it will drive greater usage of Apple Pay and will likely extent to Android Pay and Samsung Pay.
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Vineet Anand's insight:
While Apple wrangles with the Top4 Australian issuers to get Apple Pay to market, 33% of Australian adults already store cards in digital wallets and 70% expect their usage to be commonplace in two years! Trust and learning curve, consumers and retailers, will play in role in adoption.
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Finextra: Visa has installed its payWave application on Russia's popular Qiwi e-wallet, putting mobile contactless payments into the hands of millions of Russian consumers.
Vineet Anand's insight:
Welcome news for Qiwi or Visa or both! I will go with both & big win towards integrating the HCE NFC payments with Qiwi Wallet. Qiwi has more than 17 million users and 100,000 kiosks across Russia. Visa payWave will get a big boost in Russia with this launch for contactless mobile payments.
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Finextra: New Zealand digital wallet Semble has added a public transport option to its portfolio through a partnership with contactless transit card Snapper.
Vineet Anand's insight:
Semble wallet adds transit card Snapper!
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Why don’t small merchants accept Apple Pay? That’s easy. Just follow the money.
Vineet Anand's insight:
Forbes author Gene survey indicates 87% of small merchants are not accept Apple Pay and the key driver being lack of incentives for adoption. Upcoming loyalty application will not bring adoption with the SME's that are seeking low cost payment forms. Will Apple Pay be a experience for the high-end smart-phone user at large merchant locations only?
Patrice Meilland's comment,
June 7, 2015 4:12 AM
successfully motivating and building up the ecosystem is becoming paramount in a connected world, and many great ideas or solutions have failed on this account. let's see ifApple can turn this one around !
Vineet Anand's comment,
June 7, 2015 2:26 PM
Patrice - you are spot on the the need to create the ecosystem that has good subscription from merchants and Apple phone users. With the onset of Samsung Pay, Andriod Pay, and Paypal - there will be a growth on paying with mobile phones, however it will take time for phone user adoption as current user experience is very similar to taking out a card at POS. Loyalty and coupons within the apps can generate greater traction - Android Pay is touting that capability and Apple will launch its Apple Pay2.0.
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Finextra: It may have only launched Android Pay last week but Google is already looking for the next big thing in payments, teasing a "hands free" service that will be piloted later this year.
Vineet Anand's insight:
Geofencing capabilities enabled for Android Pay! Capability seems similar to Square Wallet product
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Finextra: Fintech may be all the rage, but it is in the mobile arena where the biggest bets are being placed, with over $1.1 billion raised globally across 58 financings in Q1 alone, according to data from CB Insights.
Vineet Anand's insight:
Asia leads mobile Fintech investments in Q1!
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Having seen its Wallet service fail to take off, Google is aiming another shot at the fast-growing mobile payments market with the launch of Android Pay.
Vineet Anand's insight:
Android Pay is here, as we were expecting earlier this year. The information is still unclear in areas:
More information will likely emerge in coming weeks; however this is a good move by Google to start prompting its 'click-to-buy' buttons for greater ad conversion on both desktop and mobile devices plus YouTube channel.
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The Mobile Component Is Growing Across Financial Services
Vineet Anand's insight:
Infographic represents growth across payments and banking!
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Vineet Anand's insight:
$8 billion in revenues with nearly 30% of transactions from mobile, PayPal is rearing to pull away from eBay later in the year!
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Dunkin' Donuts, Williams-Sonoma and others will accept Visa Checkout, Visa announced May 19. The service's expansion impacts Australia, the U.S. and Canada.
Vineet Anand's insight:
Visa Checkout gains greater traction with issuers and merchants and will be in 16 markets by year end!
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Finextra: PayPal faces a $25 million bill to settle a complaint from US regulators that it illegally signed people up to its online credit product.
Vineet Anand's insight:
BillMeLater improper practices and marketing push leads to $25m bill from CFPB!
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From
recode
LoopPay's technology is the foundation for Samsung Pay, which is expected to launch this summer.
Vineet Anand's insight:
Samsung Pay acquired for $250 Million, compare with Paypal acquiring Padiant for $280 Million!
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Vineet Anand's insight:
Australia followed by Singapore and Taiwan are the leading consumer groups to own and use a contactless payment card. At the same time Aussies are lease interested in digital wallets!
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The assumption that governs commerce in the 21st century is that money is, and should be, easily moved. And, for the most part, on the consumer side of
Vineet Anand's insight:
Kabbage wallet to offer immediate access to funds rather than await ACH credit to business checking account!
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A digital wallet could be a commodity with maybe some branding and fashion – similar to physical wallets today. In this scenario, we will have thousands
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
Other Topics
Leadership & Communication
Payments Ecosystem
The Payments ecosystem is evolving at an unprecedented pace driven by mobile, cloud computing, start-up's challenging the behemoths, and new technologies. My personal collection of curated stories and blogs.
Social Media Marketing
World Economy News
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