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7 Banks Team Up to Create Digital Wallet, Challenging PayPal and Apple Pay

Retail TouchPoints

JPMorgan Chase , Bank of America , Wells Fargo and the four other banks behind the money transfer network Zelle are developing a digital wallet to challenge the dominance of PayPal and Apple Pay. The banks expect to enable 150 million debit and credit cards for use within the wallet when it rolls out in the second half of this year.

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Trends Analysis: The State of Mobile Payment

ESW

Consumers used physical currency in just over one quarter (26%) of transactions in 2018, according to research by the Federal Reserve. Debit and credit cards are now the most popular choice for consumers, but even these trusted payment methods are under threat. Electronic and mobile payment solutions are proliferating.

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Digital Wallets: What’s Good for the Payments Industry is Good for Retailers…Right?

Retail TouchPoints

As the online payments industry continues to evolve, new digital wallet solutions, such as mobile payment apps and e-wallet platforms, are becoming increasingly popular and reshaping the way consumers transact. 4 Pros of Digital Wallets Some of the advantages of digital wallet payment options include: 1.

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Why UK Retailers Should Save Some of Their Christmas Marketing Spend for Chinese New Year

Retail TouchPoints

To understand the impact of this shift, it’s crucial to recognize the importance of Lunar New Year to Chinese consumers. Get culturally competent : Chinese shoppers are a world away from American consumers. Make sure you accept a variety of payment methods. However you can’t rely solely on WeChat Pay either.

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You Just Experienced your First Chargeback. Now What?

Retail TouchPoints

Given the ongoing shift in consumer shopping preferences, many of these new businesses will be digital-first companies. A chargeback occurs when a customer disputes a transaction and their issuer (the bank that provided them with the card) reverses the transaction — essentially charging it back to the retailer. What is a Chargeback?

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Kroger Doubles Ship Assortment Via 3rd-Party Marketplace

Retail TouchPoints

The third-party vendors will ship the products directly to the consumers’ homes. NFC uses a radio frequency field to transmit data between a mobile device and PIN pad, eliminating physical contact. The pilot includes the acceptance of Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, mobile banking apps and contactless chip cards.

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Payment as a Key Success Factor: Beyond Just Transactions

365 Retail

According to the study on payment methods in retail carried out by the EHI Institute in Cologne/Germany, contactless payment by card and NFC are now considered the “new normal”. And mobile payment by smartphone is also picking up. This is also confirmed by current consumer surveys.