Home 2015 February
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Google Wallet Partners with and Acquires Softcard’s Technology to Better Odds of Winning Mobile Wallet Wars

While there had been rumors that Google was in talks with Softcard to acquire the mobile network’s joint venture, the two organizations made an official announcement about their newly formed partnership on February 23rd. Under the deal Google will acquire Softcard’s patents and technology while the three major carriers that formed Softcard will now include

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Visa to Expand Token Service used with Apple Pay to Visa Checkout and eCommerce Merchants in 2015

The world’s largest card network commercially debuted their Visa Token Service in October, 2014 coinciding with the launch of Apple Pay. The service provisions issuers with a token that can be used in place of the card’s primary account number. The token is then transmitted to merchants via Apple Pay for processing for both in-store

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Increase in Mobile Fraud Outpaces Mobile Transaction Growth

According to a recent study from LexisNexis mobile commerce represents 14 percent of all transactions, but 21 percent of fraudulent transactions are attributed to the mobile channel. Meanwhile the value of fraud losses for mobile channel merchants quickly grew from 0.8 percent of revenue in 2013 to 1.36 percent of revenue in 2014. According to

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Samsung Acquires Mobile Payment Technology Startup LoopPay

Samsung, one of the primary Google Wallet partners, announced in late February that they would acquire mobile contactless payment platform and wallet LoopPay, which uses a proprietary phone case or keychain fob to transmit payment information to traditional point-of-sale payment terminals using patented Magnetic Secure Transmission™ technology. Terms of the acquisition, which has potential to

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Visa Working with Issuers to Expand use of Mobile Geolocating to Verify Card Present Transactions

Visa has partnered with Finsphere, a geospatial analytics company, to provide location information of mobile devices at the time of a card transaction. The card network is now working with card issuers to embed the mobile geolocation features in their mobile banking apps and estimates that 30 percent of wrongly declined transactions can be stopped.

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