As a fringe group of consumers gets microchips implanted in their hands to make payments without using any external devices, time will prove whether these shoppers are early adopters or simply eccentrics. A TikTok video from last year with more than 10 million views, by a user who fittingly goes by @paybyhand on the platform, …
We’ll take it as a feather in the cap to be cited by the Federal Reserve. More on that in a moment, but first things first. Consumers and businesses — running the gamut of transaction types and across demographics — are pivoting toward faster and digital payment options. Overall, as detailed in two reports by Federal Reserve Financial Services, …
Throughout history, the number seven has held significant importance. There are seven days of the week, seven colors in a rainbow, the “lucky sevens” when playing the slots, and it is the number of things that experts say people can easily remember. It’s also the number of new consumer payments products introduced by Visa today (May 15), designed to …
Google’s digital wallet is now available in the world’s most populous country. The tech giant announced Wednesday (May 8) that the Google Wallet was now open to users India, with a focus on “localized experiences.” “To start, we’ve partnered with over 20 of India’s top brands, offering one of the widest ranges of partners for any digital …
Google is transitioning its Fitbit Pay contactless payments to Google Wallet in most countries. “Google Wallet is now available for all Fitbit devices that support contactless payments,” a message on the Fitbit Pay web page said. “Fitbit Pay will no longer be available starting July 29, 2024.” There is an exception to that in three countries; Fitbit devices will continue to will continue to …
Continuing the industry’s migration of business payments and expense management to digital platforms, Mastercard announced today (April 18) that it is bringing its commercial cards to mobile wallets. The move comes in the form of a mobile virtual card app engineered to provide financial institutions with options for delivering secure, contactless payment services—a demand increasingly voiced by …
For Apple — and as been seen already with Block (formerly Square) — the drive is to get consumers to spend the cash, rather than just bank it. Apple, of course, has been forging an ecosystem that includes financial services, where Apple Cash serves as a linchpin. The cash card is built into Apple devices, …
Apple Cash cards now have virtual card numbers, enabling users to securely spend their Apple Cash at merchants that don’t accept Apple Pay. This change was included among updates to Apple Cash terms and conditions released Tuesday (April 9). To view their virtual card number, users go to the Apple Cash card in the Wallet app, tap “…”, …
Digital wallets such as Apple Pay and Google Wallet provide consumers with convenient and secure ways to make in-store and online purchases without having to put sensitive credit or debit card data at risk. PYMNTS Intelligence’s “Tracking the Digital Payments Takeover: Can New Use Cases Drive Consumer Use of Digital Wallets?” found that a high percentage of consumers — …
Tranglo has expanded its cross-border payment network to allow transfers to more than 30 digital wallets. The Singapore-based FinTech announced the expansion Monday (April 8), noting that its direct-to-wallet transfers eliminate the need for intermediaries and ensure funds are available to recipients immediately. “This is especially important for millions of rural recipients, who often lack access to traditional financial …