Owners of iPhone devices should already be able to use Apple Pay Cash starting this week. The service is arriving by way of a new update that is part of iOS 11.2, which was rolled out just a few days ago. For those not familiar with Apple Pay Cash yet, it comes with a functionality that basically allows iOS mobile users to directly send payments via iMessage.
Google has just announced that it is debuting a “Pay with Google” feature that allows users to complete payment transactions via mobile devices using any card they have on file, including those saved to the user’s Google Account by way of services like Android Pay, Google Play, Chrome, or YouTube. Basically what the new feature does is lump all the user’s saved payment options in one interface. The cool thing is that creators of mobile apps, as well as retail businesses, can also take full advantage of the same interface.
Wells Fargo has recently revealed that over 5,000 of its automated teller machines (ATMs) have now been upgraded to include support for cardless withdrawal transactions. Instead of using their bank cards, customers can just make full use of near field communications technology (NFC), the same tech being tapped in mobile payment systems such as Apple Pay, Android Pay, and Samsung Pay.
According to a report recently released by the United Nations Conference on Trade and Development (UNCTAD), people will be completing mobile payment transactions more than credit card payments by the year 2019. This trend may not entirely be unexpected -- the UN report points out that about three years ago, credit card transactions only made up 51 percent of payments made in developed countries across the globe. Before the end of this decade, that percentage is projected to decrease to 46 percent, mainly because of the increasing appreciation of mobile payments among consumers and also, improvements in the technology itself.
This particular idea could need some getting used to -- Samsung’s very own mobile payment system functioning in other handsets not branded with the South Korean phone maker’s name. But this idea could be brought to life soon. According to a report recently published by Gadgets 360, the world’s biggest seller of smartphone devices is apparently planning to bring its contactless mode of payment to other phones.
When the Venmo mobile payment app (which is owned by PayPal) started introducing support for third party apps last year, many saw the move as a ploy to get more money by way of additional business transactions, including those coming from Delivery.com, Parking Panda, and even Poshmark.
It goes without saying that Venmo is hardly the only service of its kind -- rival Zelle happens to have the backing of over 30 major banking institutions with operations in the United States, and on top of that, Zelle can transfer funds easily between the bank’s own mobile apps without ever needing to make use of a middleman such as PayPal or even Facebook’s Messenger platform.
Android Pay, the mobile payment system developed and released by Google, can now be used by Android users to facilitate peer to peer (P2P) money transfers from one country to another. This is made possible through WorldRemit, which revealed recently that it will now allow customers to send money internationally via Google’s contactless mode of payment.
Apple introduced a new major update to its mobile payment system during this week’s Worldwide Developers Conference (WWDC). The tech giant showcased a new peer to peer payment system, which basically lets iOS mobile users send and also receive cash right within the tech giant’s own iMessage app. People can then facilitate and validate payments by way of the iPhone maker’s Touch ID fingerprint scanner technology. If a user receives cash from another user, the money is stored on an Apple Pay Cash Card, that is until the user decides to withdraw it or send it to another person.
With industry leaders Samsung and Apple fully busy with trying to convince their customers to use their respective brands of contactless modes of payment, another tech giant is looking to join in on the fun.
Google’s own mobile payment system is making its debut in Canada this week, while enjoying support from several major banking institutions based in the Great White North. The launch of Android Pay in Canada was actually teased by the tech giant during its recent I/O developer conference held a few weeks ago, and according to a report recently published by MobileSyrup, the Canadian roll out of Google’s contactless mode of payment was expected to happen.
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