Singapore's largest telecommunications carrier Singtel has announced the launch of Via, the first cross-border mobile payment alliance in Asia in partnership with AIS and Thai digital bank Kasikornbank. Via combines Singtel Dash with AIS Global Pay and Rabbit Line Pay, enabling QR code-based mobile payments across Singapore and Thailand. The service will later be expanded to the telco's regional companies Airtel in India, Globe in the Philippines, and Telkomsel in Indonesia. Singtel said it would also expand to include non-telco partners such as China's Ping An eWallet, which is owned by Ping An Insurance Group. "The Via alliance is aimed at unifying Asia's fragmented payments scene by connecting different mobile wallet systems across the region," Singtel International Group CEO Arthur Lang said. "We see a tremendous opportunity to drive the adoption of mobile payments which supports ASEAN's push towards financial inclusion and vision of a single digital market." Via will … [Read more...] about Singtel unveils cross-border payments system Via
Mobile payment systems
While Google and the ISIS consortium duke it out over the future of Near Field Communication and the payment systems that use it, one of the largest financial institutions in the US had decided to ignore it. Reuters reports that Bank Of America is testing a new system that will only require retailers to display a single image. Ideally this would negate the need for new hardware for both sellers and buyers - all that's required is an Android or iOS device with a camera and a mobile connection. The trial program will last three months, with startup Paydiant overseeing five retailers in the Charlotte, North Carolina area. While details are scarce, it sounds like they're using a single image (probably a QR code or something similar) and some online authentication to connect an app on the user's phone with his or her credit/debit card. As a means to an end, it would be much simpler than NFC, if not quite as safe. It's hard not to think about the fact that Apple very pointedly left NFC out … [Read more...] about Bank Of America Spurns NFC For Image-Based Mobile Payment System, Now In Testing
Consumer Reports is the non-profit organization that rates goods and services based on unbiased testing. Whenever a new technology surfaces, Consumer Reports eventually gets around to testing it. Case in point, the organization's first ever rankings of peer-to-peer mobile payment services which has just been released. These allow you to send or receive money to and from another person who uses the same service. According to research firm eMarketer, 79 million Americans are expected to use a peer-to-peer mobile payment service this year, up 24% from last year's figure.The P2P services tested by Consumer Reports include Venmo, Square's Cash App, Facebook P2P Payments in Messenger, and Zelle. CR determined that all five were good enough to use, but it did have one name at the top of the list, Apple Pay Cash. The reason? Apple Pay Cash scored excellent or very good in important categories like Payment Authentication, Data Support and Data Privacy. With a score of 76, Apple Pay Cash beat … [Read more...] about Apple Pay Cash is on top, Zelle on bottom of Consumer Reports rankings of P2P mobile payment services
Mobile payment want you to swap your wallet for a phone or in some cases, a watch. Rather than carrying around cash and cards, just tap your phone to pay. Currently, the three most established systems are from Apple, Samsung and Google, although some wearables from brands like Garmin and Fitbit also offer their own payment systems. So how do Apple Pay, Samsung Pay and Google Pay compare and which one is best? Now Playing: Watch this: Apple Pay vs. Samsung Pay vs. Google Pay 7:31 With regards to availability, once you've added your cards to one of these mobile wallets you should be able to use them in any country that accepts contactless payments, as long as you would normally be able to use your physical card in that location. In the case of Samsung Pay, that also includes any terminal with a magnetic card reader. Technology and availabilityApple Pay and Google Pay use NFC, or near-field communication, to power contactless payments. Just tap your phone to a compatible … [Read more...] about Apple Pay vs. Samsung Pay vs. Google Pay: What’s the best mobile payment service?
Mobile payments have been around for a long time now, but they still seem to be catching on slowly. It's still a guessing game figuring out which stores accept mobile payments and, at least around my area, getting out your phone to pay still seems to confuse store clerks more often than not. Even with all of that in mind, mobile payments are the epitome of convenience. If you forget your wallet at home or simply have too many credit cards and membership cards to physically carry around, no worries — as long as you've programmed them into your phone, all of your cards are still at your disposal. The only thing left to figure out is which mobile payment service to use. Of course, it's not as simple as just picking one from the long list on the Play Store; your options will vary greatly depending on what phone you carry — or more specifically, who makes it. There are universal options like Google Pay, which works on any Android phone that supports NFC, but if you're … [Read more...] about What’s your mobile payment service of choice?