Just 17% of U.K. consumers would use their phone as a mobile wallet, study reveals

By on October 18, 2011 at 7:10 PM.

Just 17% of U.K. consumers would use their phone as a mobile wallet, study reveals

Despite the growing number of mobile payment initiatives such as ISIS and Google Wallet, only a handful of consumers actually want to use their phones as a mobile wallet. According to new research from Intersperience, just 17% of U.K. adults are interested in using their phones to purchase goods. 24% of the 1,000 participants in Intersperience’s survey were afraid of security issues, although they admittedly didn’t “know why.” 24% also thought their mobile phone is more likely to be stolen than a wallet. 44% of the survey respondents were afraid to use their phone as a mobile wallet due to the lack of security software. “There is no doubt that the phone hacking scandals have unnerved consumers,” Paul Hudson, Intersperience CEO said. “We also detected a marked rise in security concerns when people use devices with mobile internet access compared to fixed access via PCs. These beliefs will impact the pace at which UK consumers adopt mobile payment systems.” Currently, just 8% of U.K. adults use their mobile phone for payments, but that figure might increase as Google rolls out its Wallet option in the U.K. next year. Read on for the full press release from Intersperience.

UPDATE: Regarding questions surrounding mobile payments, security and more, a MasterCard spokesman let us know that Mung Ki Woo, MasterCard’s head of mobile, will be fielding questions on Twitter tomorrow to help consumers better understand the technology, security and more. More →

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Google Wallet with MasterCard now available on Sprint Nexus S 4G [video]

By on September 19, 2011 at 5:35 PM.

Google Wallet with MasterCard now available on Sprint Nexus S 4G [video]

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 →

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PayPal president says we won’t need wallets by 2015

By on July 1, 2011 at 6:50 AM.

PayPal president says we won’t need wallets by 2015

In a blog post that announced PayPal now has 100 million active accounts, PayPal president Scott Thompson also discussed the future of the mobile payment space. “We believe that by 2015 digital currency will be accepted everywhere in the U.S. – from your local corner store to Walmart,” Thompson said. “We will no longer need to carry a wallet.” As part of that goal, the company has asked five residents in the San Francisco Bay area to use digital currency for all of their purchases and, presumably, PayPal will pick up the tab. While we love Thompson’s optimism, that sounds like a tough task. Google recently announced its Google Wallet application, which will allow customers to use a Nexus S smartphone to purchase goods at a number of retailers, but you’d still be hard pressed to find anywhere that accepts it as payment for the time being. We suppose they could use a PayPal debit card — but that would still require a wallet. Oh well, there’s always Starbucks. More →

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WSJ: Google to hook up with MasterCard, Citigroup in mobile payments venture

By on March 28, 2011 at 6:59 PM.

WSJ: Google to hook up with MasterCard, Citigroup in mobile payments venture

According to the Wall Street Journal, Google, MasterCard, and Citigroup are collaborating to bring mobile payments, via NFC, to Android smartphones. Citing anonymous sources, the publication writes that the new service would “allow holders of Citigroup-issued debit and credit cards to pay for purchases by activating a mobile-payment application developed for one current model and many coming models of Android phones.” The report also notes that users of the mobile payment service will be delivered “targeted ads or discount offers” — which will be sold by Google. Ed McLaughlin, Chief Emerging Payments Officer at MasterCard, provided BGR with the following statement:

We are aware of the speculation that appeared in the Wall Street Journal today concerning our role within mobile payments with Citi and Google. However, we do not comment on market rumor or speculation. What we can tell you is that we are pleased to see great interest in NFC technology – it is a very high priority at MasterCard – and we think that 2011 will be the year of mobile payments.

It is assumed that both MasterCard and Citigroup will profit from the venture by dividing the fees assessed to retailers for accepting credit payments. Google will generate revenue from the sale of the aforementioned, targeted adverts and coupons. The purported system is expected to be released sometime “this year.” More →

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Apple passes on NFC in iPhone 5, report suggests

By on March 14, 2011 at 7:37 AM.

Apple passes on NFC in iPhone 5, report suggests

According to information garnered by UK paper The Independent, Apple will not include Near Field Communications (NFC) technology in its next generation iPhone. Citing sources at “several of the largest mobile operators in the UK,” the paper states that Apple informed mobile carriers of its decision to forgo NFC over several meetings. Analysts suspect that Apple may be working on its own NFC-like payment system — one that routes payment through the company’s iTunes Store — as it has been discouraged by the “lack of a clear industry standard.” NFC is expected to handle over $150 billion by the year 2015, making it a trend that no mobile carrier or manufacturer wants to be left out on.  More →

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iPhone 5, iPad 2 to support mobile payments using NFC

By on January 25, 2011 at 8:00 AM.

iPhone 5, iPad 2 to support mobile payments using NFC

According to a report from Bloomberg Tuesday morning, Apple plans to add a mobile payment feature to future iOS devices. The service, which utilizes a Near-Field Communication chip and a software solution, will be integrated into Apple’s next-generation iPhone and iPad, the report says. The source of this new information is Richard Doherty, director of consulting firm Envisioneering Group, who claims both the iPhone 5 and iPad 2 will launch this year with integrated NFC functionality. Apple is known to have hired various NFC experts in recent history, and it holds several patents surrounding the technology. The company could theoretically have a much easier time than its competitors building a successful mobile payment service thanks to the millions of credit cards associated with iTunes it already has on file. Future iPhone users could simply enter their iTunes passwords a single time and accept a license agreement, and the service would then be enabled and ready for use. The key to the success of NFC-based mobile payments, however, is integration on the vendor side. Without a universal processing solution and widespread retailer adoption, the future of these solutions in the U.S. and other emerging NFC markets is a bleak one. More →

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Apple's hiring of NFC expert sparks digital wallet rumors

By on August 16, 2010 at 11:22 PM.

Apple's hiring of NFC expert sparks digital wallet rumors

Benjamin Vigier is a bit of a near field communication (NFC) pioneer. Since 2004, he has worked with the likes of Bouygues Telecom, Sandisk, and mFoundry. He is also responsible for, “the development of mobile wallet applications for two top US mobile network operators and an NFC wallet application for a top three US bank.” So when U.S. electronics company Apple, Inc. decided to hire him as their “commerce product manager,” the rumors began a flyin’. Unsurprisingly, Vigier and Apple both declined to comment on the hiring, but a look at some of the recent NFC related patent filings by Apple have given the rumors legs. NFC World reports the following NFC related patent filings for Apple int he last few months:

  • An NFC-based mobile payments service that lets consumers make payments to merchants and other consumers via a credit or debit card, directly from their bank account or using credit stored in their iTunes account.
  • The ‘iPay, iBuy and iCoupons’ patents, describing a comprehensive mobile payments, mobile commerce and mobile marketing business based around an NFC-enabled iPhone.
  • Products+, an NFC-based product marketing and promotions application.
  • An airline ticketing and boarding pass application that describes an unmanned, automated airport ticketing and baggage counter kiosk and introduces the concept of an automated security checking process where users of the iTravel app could process themselves through the security clearance system and check themselves in at the boarding gate.
  • The Grab & Go patent, designed to make it easy for customers to transfer files between devices such as the Mac, iPhone and Apple TV.
  • An NFC-enabled iPod, games controller, TV and iPhone.
  • An NFC-based concert, entertainment and sports venue ticketing application that includes exclusive bonus features for users of Apple’s service.

Maybe someone will leave an NFC enabled iPhone in a bar? Until then… let the rumors continue. More →

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