Topic “Best Buy”

Analysis: Chase Pay Deal with MCX–All About Economics

NFC Times Exclusive Insight – While Chase Pay will offer merchants in the MCX consortium a potential consumer base of 94 million Chase payment card accounts and the promise of integration with their loyalty programs and offers, the essential element of the deal was the very low transaction fees Chase will charge.

Google Unveils Response to Apple Pay, Pitching Android Pay as ‘Open Platform’; Visa, MasterCard See Tokenization Opportunity

Jun 5 2015

NFC Times Exclusive Insight – Google announced its much-anticipated response to Apple Pay, with an updated host-card-emulation-based payments platform, Android Pay, that will incorporate tokenization,  fingerprint biometrics and in-app payments, in addition to in-store tapping to pay. 

MCX Weighs in on Exclusivity Clause as Merchant Group Battles Apple Pay

The MCX Merchant group has confirmed what most insiders already knew: That it has an exclusivity clause for members to only accept mobile payments from its own payments platform.

U.S. Merchant Group MCX Names CEO as It Continues to Gear Up for Mobile-Wallet Launch

The MCX merchant consortium, which is gearing up to launch a mobile-wallet platform and bar-code based mobile-payment services in the U.S. has named the former head of mobile commerce for Barclaycard US as CEO, following a long search.

U.S. Merchant Group MCX to Launch with Bar-Code, Cloud Technologies; Not NFC Initially

The MCX consortium, the group of major U.S. merchants planning to roll out their own mobile wallet, will primarily use bar codes and cloud-based technologies to start off with, not NFC.

As Google Readies New Wallet Version, Sprint Gears Up with ‘Open’ Approach

As Google readies the launch of the next version of its wallet, expected to feature the addition of a physical payment card, other mobile-commerce players, including Google Wallet partner Sprint, are gearing up with their own offers.

Big U.S. Merchants Form Company to Develop Mobile Wallet

Aug 15 2012

More than a dozen large U.S. merchants, including Wal-Mart Stores, Target, Best Buy and 7-Eleven, have formed a company to offer consumers mobile payments and customized offers, an initiative that would compete with Google Wallet, Isis and other mobile wallets.

Best Buy Fears High Costs and Shared Data in Move to NFC Wallets

The senior director of financial services for Best Buy, the largest consumer electronics chain in the United States, said she believes NFC holds great promise but fears costs will be daunting, standards are insufficient and the chain’s customer data might be used to benefit competitors.

HEADLINE NEWS

NFC Wallets Make Up Growing Share of Contactless Payments on London Transit

NFC TIMES Exclusive – Use of NFC wallets continues to steadily increase as part of Transport for London’s landmark contactless payments service, with payments from NFC-enabled smartphones and smartwatches now accounting for 20% of all contactless payments, NFC Times has learned. 

Market Research Firm: Apple Pay Surpasses Starbucks App in Users in U.S.

NFC TIMES Exclusive Insight –Apple Pay, which launched its mobile payments service five years ago this week in the U.S., has so far failed to live up to expectations with the service, either in the U.S. or globally, in terms of users and transactions.

Cubic Strikes Deal with Google to Enable Closed-Loop Transit Payments in Google Pay

NFC TIMES Exclusive Insight – In a move that could enable more large transit agencies to offer NFC mobile payments with their closed-loop transit cards, U.S.-based Cubic Transportation Systems has signed an agreement with Google to integrate contactless transit cards with Google Pay. Among the agencies planning to support the service are those serving Google’s home base in Silicon Valley and the San Francisco Bay Area, as well as the Metropolitan Transportation Authority in New York. 

In-Depth: Persistent Consumer Security Fears about Mobile Payments Prove Difficult to Dislodge

NFC TIMES Exclusive Insight – Results of yet another survey has shown that a significant percentage of U.S. consumers continue to harbor security fears about using their smartphones for payments, a stubborn problem that has hindered growth of mobile payments from the beginning.

Mobile Suica Still Accounts for Disappointing Share of Suica Users and Transactions in Japan

NFC TIMES Exclusive – While Apple Pay next month will mark the 5th anniversary since its launch in the U.S., there is another contactless-mobile payments service that is three times as old as Apple Pay–Japan’s Osaifu-Keitai, or wallet phones, which this year turned 15. 

Rome Latest Transit System to Launch Open-Loop Fare Collection; also Enables Monthly Passes with EMV Cards

NFC TIMES Exclusive Insight – Rome has become the second major city in Italy–and one of a small but growing number of large cities globally–to enable riders to pay transit fares with EMV contactless credit, debit and prepaid cards and NFC devices.

Vivo Last of Major Chinese Smartphone Makers to Officially Launch NFC Pays Wallet

NFC TIMES Exclusive Insight – Vivo, China’s second largest smartphone maker, made it official this week, launching its NFC-enabled “vivo Pay” wallet, the last of the major Chinese phone OEMs to roll out NFC payments–though their use has been disappointing, at least for payments in stores.

In-Depth: Fit Pay’s Troubles Indicate Difficult Business Case for Provisioning to Wearables

Sep 19 2019

NFC TIMES Exclusive Insight –  Given the poor financial results of U.S.-based Fit Pay, it’s becoming clear that the business case for provisioning of payment cards to wearable devices remains difficult.

Analysis: Chase Pay Latest Bank Wallet to Shut Down; Why Did They Fail?

NFC TIMES Exclusive Insight – Plans disclosed this week by JPMorgan Chase to shut down its Chase Pay app for in-store purchases is yet another nail in the coffin–perhaps the final one–for bank wallets in the U.S. And the situation does not look much brighter for bank-issued wallets abroad.

Miami Latest U.S. City to Introduce Open-Loop Transit Payments

NFC TIMES Exclusive Insight Transit officials in Miami-Dade County, Fla. are the latest in the U.S. to introduce open-loop payments of fares with contactless credit and debit cards and bank card credentials on NFC wallets, launching the service yesterday on the city's relatively small metro network, with plans to expand to buses later.

UK Tram Riders Take to Tapping with NFC phones to Pay for Fares, According to Early Results

NFC TIMES Exclusive – Transport for Greater Manchester, which last month launched open-loop payments on its large Metrolink tram network, said Thursday that contactless credit and debit cards and NFC wallets accounted for a combined 170,000 rides during the first four weeks of the service.

In-Depth: NFC Wallet Use for Open-Loop Transit Grows but Still Makes Up Relatively Small Share of Contactless Payments

NFC TIMES Exclusive – When New York City transit officials announced Tuesday that the 1 millionth ride paid for through their new OMNY open-loop payments service had arrived ahead of schedule, they also proudly noted that 80% of the contactless payments had come from NFC wallets, not physical bank cards.