BARCELONA, Spain--The hype around mobile payments is just the tip of the iceberg when it comes to the coming transformation for how people purchase goods and services.That's according to Ed McLaughlin, chief emerging payments officer for MasterCard, who spoke with CNET about his company's vision. While at the Mobile World Congress conference, MasterCard unveiled its MasterPass system, which addresses not only mobile payments, but also all forms of digital transactions. MasterPass is designed for purchases made in stores, online, or on the phone. "It's a foundation for moving to a world beyond plastic," McLaughlin … Read more
PayPal unveiled new hardware today that will allow it to take its in-person mobile payment system to Europe, expanding the lead it has in the international market on rival Square.
PayPal Here, which launched last March in the U.S., Canada, Australia, and Hong Kong, will debut in the U.K. this summer for its first foray into the European market. The eBay-owned payments processor plans to eventually offer the service to other countries on the continent.
About the size of a smartphone, the payments processor's new gadget will accept credit and debit cards under the Chip and PIN … Read more
Square today unveiled its "Business in a Box" package, a bundle including all the components needed for a small business to start taking payments on the company's Square Register platform.
With Square Register, almost any business can accept payments wirelessly from customers' mobile devices. The system lets businesses use an iPad instead of a cash register, and gives them an accompanying set of analytics tools, while customers download the app, sign up, register a credit card, and then pay automatically at any of the hundreds of thousands of merchants running Square Register.
The new bundle includes two … Read more
Move over, mobile payments. NFC is finding other ways to make itself useful.
In fact, paying for items with one's phone seems to be the least common use for the close-range connectivity technology right now, at least based on gadgets unveiled at the Consumer Electronics Show. Rather, essentially all products using NFC shown at the recent confab employed the technology in one of two ways: To set up a sort of digital handshake between a mobile device and another gadget or as a way to share information between products with just a tap.
"NFC really simplifies things," … Read more
Apple is trying to make it easier for customers in China to pay for its products.
The company has posted to its Chinese Web site a new installment plan, allowing customers who pay 300 yuan (about $48) or more for an Apple product to pay in installments. From now until January 23, Apple is offering interest-free payments for up to 12 months. If customers choose 18- or 24-month installments, interest will be assessed at 6.5 percent and 8.5 percent, respectively.
When customers check out on Apple's online store, they'll be given the option to pay in … Read more
Increasingly bringing its service offline, PayPal announced today that it has nearly doubled its brick-and-mortar store lineup to 23 retailers that now accept its payment service.
"Delivering valuable digital and mobile payments is alive and thriving, and consumers all over the U.S. will now start seeing PayPal more where they shop every day, including the grocery store and at the gas pump," PayPal's vice president of retail services Don Kingsborough said in a statement. "No bells, whistles or buzzes -- just technology that works and gets the most from your money."
Throughout the U.… Read more
According to industry sources, 2013 is the year for mobile payments to go mainstream. Of course, so were 2012, and 2011 before it. Mobile payments are the 3D TVs of the finance world -- always on the cusp of popularity, never quite getting there.
But payments made using information stored in smartphones and transmitted through the Internet are inevitable, according to a panel of payment executives at CES 2013 today. Only recently have large numbers of consumers begun buying smartphones with mobile wallet software preinstalled and ready to use, said Peter Hazlehurst, who heads up Google Wallet.
"This is … Read more
Square has just extended its partnership with Starbucks a bit further.
The companies announced today that Starbucks customers can now buy Square's Mobile Card Readers in-store at 7,000 locations nationwide. Starbucks is selling the Reader for $10 but will give customers back $10 if they're new merchants or individuals who sign up for Square's service.
Starbucks is a major investor in Square, dropping $25 million into the mobile-payment startup last year. Since then, the companies have been working closely to expand Square's footprint across the U.S. In November, in fact, Starbucks announced that it … Read more
The ability send and process gift cards were recently added by Square as an additional service for its merchants. The process is simple, but requires you to download and install the Square Wallet app (iOS, Android) on your smartphone.Once you have Square Wallet installed you'll need to set up an account, complete with your payment information. You can then find a local store listed in Square Wallet, such as a coffee shop or bookstore, open the respective card for that business, and then tap "Send Gift Card." Enter the recipient's information, select an amount and … Read more
After a monster 2012 in which Square, a leader in the mobile payments space, tripled its user base, added Starbucks as a major partner, and hit more than $10 billion in annualized transactions, its COO is predicting that 2013 looks even better.
A year ago, the San Francisco-based startup, which was founded by Twitter co-founder Jack Dorsey, announced that it had reached a million users and that 75,000 merchants were accepting payments through Square. Now, COO Keith Rabois told CNET in an interview, the company has passed 3 million users and 250,000 merchants taking Square Wallet.
Without question, … Read more