As consumers dump cash and traditional point of sale hardware for contactless payments, PayPal has added support for QR codes in 28 countries. The QR code is generated from the PayPal app and sellers or merchants can print out a QR code placard for consumers to scan at their store or stall. The QR codes…
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As another impact of COVID-19, some Chick-fil-A shops are not accepting cash payments. Medical reports have appeared indicating that currency bills can carry and retain the novel coronavirus. Food store employees are already working under precarious conditions and don’t need one more thing to worry about regarding their safety, so QSR chains like Chick-fil-A may…
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Don’t miss another episode of Truth In Data! Click on the red bell in the lower-left corner of your screen to receive notifications as soon as the episode publishes. Data for today’s episode is provided by Mercator Advisory Group’s report – Mobile Payments: Making a Comeback Mobile pay was in decline – it’s back in a…
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The U.K. prepaid gift card market is experiencing strong growth among consumers who buy them as gifts and for self-use, as well as among businesses that purchase them for customer loyalty programs and as employee incentives. The U.K. gift card market is expected to reach US$13.1 billion (about £10 billion) in transaction volume by 2020,…
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Apple’s recent smartphone revenue decline contrasts with strength in wearables and services, making these alternative venues increasingly important to Apple Pay’s continued success. Apple reported $84.3 billion in revenues for its fiscal 2019 first quarter, which ended Dec. 29, a 5 percent decline from the prior year’s $88.3 billion and the company’s first holiday quarter…
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Mobile payment volumes to hit 20% of retail volume Mercator expects mobile payment volumes to hit 25 percent of total card throughput and 20 percent of total retail sales, or $900 billion, by 2020. That includes card on file transactions, such as those made within an Amazon account or to pay a utility bill; mobile…
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A new generation of bank customers is bypassing physical branches and banking via the web almost entirely in favor of completing transactions and accessing services from their mobile devices. The same goes for payments — mobile wallets, peer-to-peer payments apps and social media payments have taken the payments industry by storm. Research shows that the…
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After a flurry of high-profile universal mobile payment service introductions four years ago (Apple Pay, Google Pay, Samsung Pay), use of the services by consumers has generally softened. Should card issuers see this as just a speed bump or as the start of a disruptive customer detour? And what can issuers do to safeguard and…
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Driven by new technology and the consumerization of enterprise as people demand a more comfortable experience, growth in business use of virtual cards has been strong in recent years. Yet they still account for a relatively small share of the commercial cards market. Apple is doing a great job of introducing the concept of virtual…
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It’s impossible to predict how long consumers around the globe will cling to using plastic cards for payments, but not uncommon to hear predictions of the product’s demise. Entrust Datacard, which serves both sides of the physical and digital payments spectrum, sees the categories’ fates as intertwined. The more momentum digital and mobile wallets have,…
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