You are about to have another option at your fingertips to pay for things. Last week, the smart jewelry company Ringly announces a partnership with MasterCard that will allow you to pay for items with the tap of a ring. (Video)
One in 5 smartphone uses will mobile payments by 2016.
2016 will be a year of significant growth in technology. The number of people in the US using their phones to pay for goods and services at the point of sale will continue to climb steadily. According to the latest proximity mobile payments forecast from eMarketer, the total value of mobile payment transactions in the US will grow 210% in 2016, according to the latest proximity mobile payments forecast from eMarketer.
It could take up to the year 2030 for physical money to disappear from Sweden’s system altogether.
Four out of five purchases in Sweden are paid for electronically or by card according to a new report from the Swedish news organization, The Local. They also report that Swedes are using electronic payments 260 times per person, per year.
Twitter users can tweet a payment to their followers.
Twitter users in France can now publicly repay debts, donate to charity or chip in for a gift with a new payment service backed by the country’s second-largest banking service.
A Bitcoin ATM
Circle is a new Bitcoin bank that opened its doors to the public last week, following a stealth development period which saw it raise $25m from some of Silicon Valley’s biggest venture capitalists.
The database is part of the government’s “Open Payments” program.
Scores of doctors’ groups have called for postponement, but the Obama administration intends to stick to its 30 September deadline for making public a database detailing payments and gifts from the drug industry to US physicians, a spokesperson for the US Centers for Medicare & Medicaid Services (CMS) said on 15 September.
Many of us now receive payments as well as make payments.
Ross Dawson: Last week I gave a keynote on The Future of Banking to a group of the most senior risk leaders in a major bank, sharing some provocative ideas on how the banking landscape may change in the years to come.
There’s a huge fortune to be made if you can solve the problem of cheap payments. Payments are one of 10 big problems that are crying out for a solution (others include cheap battery storage, water desalination, and a pill that makes you lose weight).
The credit card industry is much bigger than just the credit card companies and the banks. There’s an entire ecosystem of payment processors, service providers, and would-be disruptors from Silicon Valley fighting over the space.
Consumers like convenience. As with anything else, it is true with payment technologies. A great example is the trend of getting away from cash or checks and the move toward credit cards.
Late payments are at a 17 year low.
The rate of late credit card payments fell to a 17-year low in the second quarter, another sign of household belt-tightening.