Google Wallet, a new near-field communications (NFC) based payment system created by Google in partnership with MasterCard and a number of additional partners, is now available on Sprint’s Nexus S 4G. Google Nexus S users on AT&T and T-Mobile are left out in the cold for now. MasterCard confirmed that an over-the-air update is being pushed to the Nexus S 4G on Monday that will automatically install the Google Wallet app. Once it is installed, users can enter in their MasterCard information and use their Nexus S 4G to make tap-and-go payments at 300,000 PayPass locations around the world. Initial users will receive a $10 bonus on their Google Prepaid MasterCard accounts for being an early adopter, too. Google also announced on Monday that Visa, Discover and American Express have provided their NFC specifications so that those payment options can be added to Google Wallet in the future. Read on for a quick video of Google Wallet in action. More →
Verizon Wireless and American Express announced on Monday that Verizon Wireless will begin to integrate American Express’ “Serve” mobile payment solution into its phones and tablets. The agreement will allow Verizon Wireless customers to make mobile payments from their phones, provided that they have an existing Serve account. “Our collaboration with Verizon highlights the speed at which Serve is evolving to reach a wide audience,” said Dan Schulman, group president, Enterprise Growth, American Express. “Verizon Wireless customers will soon be able to complement their busy lifestyle with a trusted payment platform that delivers a fast, flexible and secure way to manage their day-to-day mobile purchases, and together we’re taking the necessary steps to make mobile commerce a reality.” Serve is similar to PayPal and allows users to send or receive money for goods and services. American Express announced the service in March in tandem with Serve apps for Android and iOS. Read on for the full press release. More →
American Express, Discover, MasterCard, and Visa announced a new partnership with ISIS on Tuesday. ISIS is a mobile initiative that was formed in April of last year by AT&T, T-Mobile, and Verizon Wireless in an effort to help foster the growth of using near-field communications for mobile payments. It’s currently being tested in Salt Lake City and Austin. Tuesday’s announcement means that, as the mobile market moves closer and closer to a time when we can actually use our phones to make tap-and-go payments, consumers will have more payment options. MasterCard also teamed up with Google and Sprint on Google Wallet, which will launch in the future for Android-powered smartphones. We’re not sure why Sprint has held out on joining ISIS, but we hope it jumps on board soon to save consumers from a fragmented mobile payment landscape. Read on for the full press release. More →
On Wednesday, Square’s CEO Jack Dorsey announced that the firm’s iPhone credit card reader — also supported by the iPad and iPod touch — is now available in all 235 U.S. Apple Store locations, and online, for $9.95. The mobile payment solution allows business owners to quickly charge for products and services wherever they have an iOS device and a data connection. Square accepts Visa, MasterCard, American Express, and Discover cards, and the company takes a 2.75% cut of every swipe. If you sign up for Square service online, Square says it will send you the first reader for free. More →
Today American Express introduced its new digital payment system called Serve. Serve works similar to PayPal in that it allows users to create an account that can be used for sending or receiving money. Users can access their accounts from American Express’ Serve iOS and Android applications, via the Web, or through Facebook. Serve has two fees, including 2.9% plus $0.30 per load deposited, although this is discounted to 0$ for cash, debit, and ACH. Similarly, there’s a $2 fee on ATM cash withdrawals, although the first withdrawal each month is free. The good news is, American Express is waiving the deposit fee for the next six months. Serve lets users create a master account and you can create sub-accounts for friends or family members. American Express also provides a debit card with each Serve account that can be be used at any ATM or merchant that accepts American Express. “We are working with a range of partners to integrate Serve as a payment method and deliver customized offers, and we will waive most consumer fees for the next six months,” said Dan Schulman, Group President, Enterprise Growth at American Express. Hit the jump for the full release. More →
If you are not familiar with Square, it is a mobile payment service (hardware and software) that hopes to change how mobile transactions are processed. Now available for iPhone, iPod touch, iPad, and Android devices, all you need to get going and accepting credit card payments is Square’s credit card reader. If you have been down the merchant account road before, you are probably asking how much the device costs, right? Square is giving out the reader, which plugs into the 3.5mm headset jack on your smartphone, for free. Their transaction rates are also pretty competitive at 2.75% of the transaction + $0.15 for all major credit cards. If you have always wanted to pay that shady guy off of Craigslist with plastic instead of paper, your dream might finally come true as this propagates throughout the wild. Check out a video of the service after the jump! More →
Never one to turn down a Vertu, we’ve just came across Vertu’s latest handset in all its FCC glory. For starters, it has 850MHz/2100MHz 3G support, Wi-Fi, and probably the craziest futuristic design we’ve ever seen. Many Vertu lovers across the globe loved their original Signatures but they were quick to be completely outdated in terms of technology, thus they were “forced” to switch to the Constellation (small and smooth) or the Ascent Ti (huge and feature-packed). Well, no more Vertu friends, no more. In addition to the aforementioned specs, you’ve also got an OLED screen to look forward to, a slide-out SIM card tray, and the love-it-or-hate-it Vertu Concierge (read: use American Express Centurion Concierge instead). When you’re done drooling over it, go lift up that plastic couch cover your grandma uses, scrape those pennies together, and run, not walk, to your local Nokia or Torneau. We’ll see you there.