Tag Archive | payments

Banking with Blockchain will Increase Money Transfers

Banking with Blockchain Increases Money Transfers

Global remittances totaled $613 billion in 2017, marking a 7% increase from $573 billion in 2016. Factors such as stricter immigration policies have possibly resulted in an increase in the number of remittance payments this year, and the 2018 figures are expected to rise accordingly.

via World Economic Forum

In-Store Retail Technology Innovation Gains Momentum

In-Store Retail Technology Innovation Gains Momentum

According to the latest worldwide market study by Juniper Research, retail spending at new frictionless payment stores — such as Amazon Go — will increase from an estimated $253 million in 2018 to over $45 billion by 2023.

via Digital Lifescapes

How Biometrics will Advance Mobile Payment Security

How Biometrics will Advance Mobile Payment Security

With password-based personal identity solutions becoming increasingly impractical, device vendors and mobile network service providers have begun implementing an alternative second factor — using a fingerprint, iris, facial feature or vein pattern to establish an individual’s identity.

via Digital Lifescapes

Mobile Merchant Transaction Growth in Emerging Markets

Mobile Merchant Transaction Growth in Emerging Markets

Numerous telecom service providers have expanded and tailored their services to offer the world’s poorest populations access to more sophisticated products  — such as personal savings and loans. Worldwide a large number of people who remain ‘unbanked’ are without a bank account or credit history.

via Digital Lifescapes

Worldwide Contactless Payments will Exceed $1 Trillion

Worldwide Contactless Payments will Exceed $1 Trillion

According to the Juniper assessment, the mobile contactless payments market will be driven by Apple Pay, Samsung Pay, Google Pay and other OEM Pay wallets. Combined, these OEM Pay wallets users will reach 450 million by 2020, with Apple accounting for 1 in 2 OEM Pay users globally.

via Digital Lifescapes

How NFC is Penetrating Retail Point-of-Sale Apps

How NFC is Penetrating Retail Point-of-Sale Apps

According to the latest worldwide market study by Berg Insight, the market for NFC-ready POS terminals continued to show strong momentum in 2017 with annual shipments reaching an estimated 24.7 million units worldwide.

via Digital Lifescapes

Digital Payments: Government Fintech Solutions in Action

Digital Payments: Government Fintech Solutions in Action

The digitization of payments is a necessary stepping stone in hauling anti-corruption systems into the 21st century. By leveraging payment data and advanced analytics, governments could save up to $1 trillion worldwide.

via World Economic Forum