Loop Mobile Payments

Fascinating new mobile payment solution works almost everywhere by tricking credit card terminals

By on February 19, 2014 at 10:00 AM.

Fascinating new mobile payment solution works almost everywhere by tricking credit card terminals

The battle for the future of digital wallets is still in its infancy and there are still no clear winners in the United States. What is clear, however, is that NFC-based solutions haven’t seen the widespread adoption some industry watchers had expected. The lack of a universal solution and the cost of upgrading merchant terminals are both huge barriers, and they may never really be overcome. As such, several companies are looking for ways around these limitations by coming up with solutions that work with current equipment. One example we covered recently is Coin, which is building a one card to rule them all solution. Now, another contender called Loop has released a novel product it hopes will change the way we pay for goods and services. More →

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Verizon begins testing new mobile payment solution

By on February 3, 2012 at 7:01 PM.

Verizon begins testing new mobile payment solution

Vantiv, a provider of mobile payment solutions, announced a new point-of-sale product on Friday that it will be rolling out in partnership with Verizon Wireless. The product, which is currently in field testing, includes custom tailored applications and an Android-based point-of-sale solution for accepting payments. The applications will be available in Verizon’s Private Application Store for Business. “Merchants and consumers are seeking greater mobility, control and timely access to data,” said Bill Weingart, Chief Product Officer of Vantiv. “We’ve teamed with Verizon to combine our payment and security expertise with Verizon’s ability to tailor development of mobile technologies to address those needs.” Verizon Wireless is also a member of ISIS, an initiative in which it has partnered with AT&T and T-Mobile to provide customers with NFC-based mobile payment options. Vantiv’s full press release follows after the break. More →

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T-Mobile now selling Square credit card payment systems in retail stores

By on February 1, 2012 at 2:21 AM.

T-Mobile now selling Square credit card payment systems in retail stores


T-Mobile USA announced on Tuesday that it is now selling Square credit card systems in its retail stores. Square allows people to take payments by swiping a credit card through the Square dongle, which can be plugged into the end of a smartphone. “The success of our small business customers is important to us. Formerly ‘cash only’ small businesses can now simply and cost-effectively accept credit cards with their smartphone using Square, giving them an easy path to growth,” said Matt Millen, vice president of small and medium business sales at T-Mobile. “As these businesses evaluate their wireless needs, T-Mobile is committed to providing quality of service, cost savings and connectivity that are a requirement for their success.” T-Mobile will also offer direct support for the smartphone payment accessory. The company’s full press release follows after the break. More →

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More than 50% of all smartphones will be NFC enabled in 2-3 years

By on November 22, 2011 at 10:00 PM.

More than 50% of all smartphones will be NFC enabled in 2-3 years

We’ve been hearing that smartphones will transform into mobile wallets “any year now” for at least the past five years. But with the introduction of the Google Nexus S, Google Wallet, the ISIS initiative, and a handful of smartphones with integrated NFC, it looks like the technology is finally poised to take off. According to Taiwanese phone makers, more than 50% of all smartphones will include NFC within the next 2-3 years. That comes as no surprise: Google’s latest Android 4.0 (Ice Cream Sandwich) operating system has support for NFC built-in, a number of BlackBerry smartphones offer NFC, the Galaxy S II models on AT&T and T-Mobile have some form of dorment NFC support, and the brand new Samsung Galaxy Nexus also supports the technology. The delay in adoption, DigiTimes said, can be attributed to the current ecosystem and standard specification. Read on for more. More →

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New Jersey Transit to support Google Wallet mobile payments

By on October 19, 2011 at 11:15 PM.

New Jersey Transit to support Google Wallet mobile payments

New Jersey Transit will soon introduce limited support for Google’s NFC-based mobile payment system, Bloomberg Businessweek reported on Wednesday. Google Wallet is currently only available on one handset, Sprint’s Nexus S 4G, and supports a handful of retailers including Foot Locker, Macy’s, Jamba Juice, Walgreens and Subway. Commuters will be able to use the handset to quickly purchase tickets in a tap-and-go fashion at New York Penn Station, Newark Liberty International Airport Rail Station and several bus lines including the 120, 87, 81, 80, 43, 6 and 126. “Transit is the fastest way to accelerate adoption and reach usage density in major urban centers by habituating the behavior of tapping and paying with phones,” Google vice president of commerce Stephanie Tilenius said.  More →

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Broadcom intros new NFC chips for mobile payments

By on September 26, 2011 at 11:35 PM.

Broadcom intros new NFC chips for mobile payments

Broadcom on Monday announced the BCM2079x family of NFC chips which it hopes will spur the mass adoption of NFC. The 40nm-based chips are smaller and are reportedly the most power efficient solution currently available to device makers. Broadcom said the products use 40% fewer components on a 40% smaller surface area and consume 90% less power than competing models. The chips also support a new technology called “Maestro middleware” that allows developers to create NFC apps with support for Wi-Fi and Bluetooth. “Broadcom is committed to making NFC as ubiquitous as Bluetooth and Wi-Fi are today,” Broadcom vice president and general manager Craig Ochikubo said. “These solutions provide the features and performance that enable disruptive innovation that will reshape consumer experience.” Read on for Broadcom’s full press release. More →

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Verizon intros GoPayment credit card reader for phones, tablets

By on August 25, 2011 at 9:20 AM.

Verizon intros GoPayment credit card reader for phones, tablets

In partnership with Intuit, Verizon Wireless introduced a mobile payment solution for small and medium businesses called GoPayment on Thursday. GoPayment will provide customers with a small credit card reader and a mobile application that allows businesses to charge credit cards using a smartphone or tablet. Here’s how it works: a business simply needs to plug the card reader into the 3.5mm audio jack of a tablet or smartphone. Cards can then be swiped and payments are processed immediately. Verizon Wireless says the credit card reader and application are supported on Android, iOS and BlackBerry. The GoPayment credit card reader is free with a GoPayment account and after a $29.97 mail-in rebate. Intuit takes a 2.7% cut of swiped transactions on free GoPayment accounts but customers who sign up for a $12.95 monthly option can pay a lower 1.7% per-transaction rate. Read on for the full press release. More →

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Verizon to integrate American Express' mobile payment solution into phones, tablets

By on August 1, 2011 at 11:58 PM.

Verizon to integrate American Express' mobile payment solution into phones, tablets

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 →

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Mobile payments could balloon 76% to $86 billion this year, Gartner says

By on July 23, 2011 at 7:00 AM.

Mobile payments could balloon 76% to $86 billion this year, Gartner says

141.1 million people around the world will make mobile payments this year, a 38.2% increase from last year, Gartner said in a new report issued on Friday. Global mobile payment volume is expected to hit $86.1 billion in 2011, up 75.9% from the $48.9 billion recorded last year. Gartner says mobile payments are not growing as fast as originally projected due to slower than expected uptake in developing countries. In addition, the “complexity of the [NFC]” service model has impeded its ability to takeoff in developed countries. “The biggest hurdle is the need to change user behavior by convincing consumers to pay with mobile phones instead of cash and cards,” Gartner research director Sandy Shen said, noting that mass market adoption of near-field communications (NFC) is at least four years away. Mobile payments will be driven by prepaid top-ups and money transfers, the research firm said. “Thanks to the success of mobile application stores, such as Apple’s App Store, and the efforts in driving mobile sales by major retailers, such as Amazon and eBay, merchandise purchases far outweigh other use cases in developed markets, which include North America and Western Europe,” Shen said. “We predict that in 2011, merchandise purchases will account for 90 percent and 77 percent of all transactions in North America and Western Europe, respectively.” Read on for the full press release. More →

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Starbucks Android app launches for mobile payments

By on June 16, 2011 at 12:48 AM.

Starbucks Android app launches for mobile payments

Are you Android users jealous of all of your friends using their iPhones to buy frappuccinos? Take a sigh of relief — on Wednesday Starbucks launched its Android application that will allow you to walk into one of 6,800 Starbucks or 1,000 Target locations and buy your choice of coffee without having to reach for your wallet. When you’ve made your selection, all you have to do is hold your phone up so that the barista can scan a special barcode presented on your phone’s screen. The best part? You can refill your Starbucks card directly from the app itself. It’s available for free in the Android Market now for devices running Android 2.1 or newer. More →

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Google to test NFC mobile payment system in New York, San Francisco

By on March 15, 2011 at 9:59 AM.

Google to test NFC mobile payment system in New York, San Francisco

Leaving your credit card at the bar may soon be a thing of the past — that is, if you live in San Francisco or New York City. Bloomberg is reporting that Google is planning to trial its new Near Field Communications (NFC) mobile-payment system in both cities. The trial, which could begin in as little as four months, would allow users to make purchases using their smartphones at participating retailers. Presumably, Google will run the trial with the NFC-equipped Nexus S, and it is working with VeriFone to outfit merchants with special cash registers. It’s unclear who will be able to participate in the trial, or which merchants are on board. More →

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Starbucks now accepting mobile payments nationwide

By on January 19, 2011 at 7:07 AM.

Starbucks now accepting mobile payments nationwide

Love strutting your stuff to that sassy barista at your favorite Starbucks? Starting today, you’ll be able to swipe your iPhone, iPod touch, or BlackBerry at almost all Starbucks locations to pay for your coffee (or delicious reduced-fat Cinnamon cake). The program had been piloted in California and many New York stores and allows you to use the Starbucks Mobile Card iPhone app to add your Starbucks Cards, track rewards, and also reload your cards from your phone. How easy is it to use to pay that Trenta Caramel Frappuccino? Just tap “touch to pay” in the app, hold it up to the scanner at the register and you’re off and running. Or slowly reconsidering ordering a 31oz blended coffee and beverage. Going to give it a go? Let us know, alright? More →

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Square's mobile payment service officially launches

By on May 11, 2010 at 12:47 PM.

Square's mobile payment service officially launches

square

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 →

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