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Your Google Wallet funds are now insured
The money in your bank account is typically covered by federal insurance, but your internet payment services typically aren't. If PayPal or Venmo went belly-up, you'd probably lose your existing balance. That won't be a problem if you're using Google Wallet, though. Google is now holding your Wallet funds in banks with FDIC insurance, so your digital credit is now that much safer. This isn't to say that rivals leave you completely vulnerable -- PayPal has fraud protection, for instance. However, the Wallet move means that you won't have to go to court to get your cash back if Google goes bankrupt, no matter how unlikely that is.
Banks respond to fraud with improved verification for Apple Pay
Reports of thieves using stolen payment info with Apple Pay surfaced earlier this week, and banks are already stepping up security measures. In fact, the culprits used the software to employ credit card details stolen during Target's massive breach in 2013. The Wall Street Journal reports that those financial institutions are making customers take extra steps to verify that cards being entered into Cupertino's mobile payment platform really belong to them. Tools like one-time authorization codes, a call to customer service and security questions are being used to confirm identities for those who want to pay with an iPhone. What's more, some banks will require you to authorize Apple Pay by signing into your online banking. If you'll recall, Apple Pay itself remains locked down, and the fraudsters were able to take advantage of banks' rather lazy identity checks. Of course, even with the added checks, you'll want to keep a close eye on things to ensure someone hasn't swiped your card number.
The big US carriers will shut down their mobile wallet this month
There was no question that AT&T, T-Mobile and Verizon gave up on their Softcard mobile payment service when they agreed to pre-install Google Wallet, but it's now apparent that they're beating an especially hasty retreat. Softcard is telling users that its service will stop working after March 31st -- when April rolls around, both the app and your account go bye-bye. It's doubtful that you'll shed a tear for an offering that was mostly meant to stifle competition, but you will have to choose another tap-to-pay service fairly quickly if you happen to be one of the remaining customers. Thankfully, there won't be a shortage of alternatives any time soon.
PayPal's new Here card reader can handle NFC payments
PayPal is no stranger to mobile payment solutions, but at Mobile World Congress, the company is making a useful upgrade to its Here card reader. In addition to being able to handle payments from those chip-and-PIN credit/debit cards, the new version of PayPal's transaction tech will also support NFC. This means that not only will the latest version of Here wrangle touchless payments from the aforementioned cards, but it'll also allow retailers to accept funds from mobile devices. It's said to work just like terminals in retail stores, except this add-on connects with a separate mobile device to power the whole thing. That's good news for the PayPal faithful as Apple Pay, Samsung Pay and Android Pay all leverage NFC to transfer funds. There's no word on pricing just yet, but the new version of Here will hit the UK and Australia this summer, with a US debut slated for later this year. Don't miss out on all the latest news, photos and liveblogs from MWC 2015. Follow along at our events page.
Venmo halfheartedly responds to its mobile payment security woes
eBay's Venmo mobile payment service can be extra-helpful when you need to repay a debt to a friend, but it's grappling with some significant security problems -- and it's not clear that a proper fix is in sight. Slate notes that Venmo not only lacks a few basic security measures, such as notifying you when login details change, but encourages risky steps like linking your bank routing info. If someone gets in under that circumstance, your bank account could be permanently compromised. There's also little support outside of a slow-to-respond email system, so you may be left high and dry if you need urgent help.
Barclays Pingit will soon let you send money over Twitter
Since the launch of Barclays' Pingit app, it's become almost impossible to dodge paying your share of Friday night's curry. The mobile payment service lets you transfer money to whichever mate picked up the bill, regardless of where you both bank, using just their mobile number. Come March 10th, however, you'll be able to skip entering that 11-digit number and simply use your friend's Twitter handle instead. For individuals and small business to start receiving Twitter payments through Pingit, they simply need to link their @name to their Pingit profile from within the app, and they're good to go. Now get off our back Andy -- you've been chasing us about that beer money for weeks.
WSJ: Google to resurrect mobile payments with Softcard purchase
Don't call it a comeback. Okay, maybe you should: Google wants to revive Wallet after seeing how popular Apple Pay has been, according to The Wall Street Journal. To do so, Mountain View is apparently in the early stages of a deal to take ownership of the carrier-owned Softcard as part of this Lazarus act for its mobile payment system. Previously, carriers in the United States were reticent to preload Wallet onto their devices because, at the time, they were trying to launch ISIS, going so far as to block the chip that stores credit card info. Times are different now, as WSJ tells it, because neither AT&T, T-Mobile or Verizon gets a cut from Cupertino with surprise hit Apple Pay -- something that'd change by working with Google. How's that? The internet behemoth will reportedly pay them to feature Wallet on their Android phones and give them a bigger cut of the money it makes off of ads that live inside mobile searches.
Shell petrol stations to let you pay with your phone using PayPal
Those of us in the know are patiently waiting for QR code technology to take off, as it inevitably will, but Shell and PayPal aren't willing to stand by and end up falling behind the curve. Pouncing on the flourishing standard, the two have shaken hands on a deal that'll soon let patrons at Shell petrol stations pay for fuel using only their phones, PayPal details, and some well-placed QR codes. Having successfully trialed the mobile payment method way back in 2013, it's ready to roll out to the "vast majority" of Shell garages in April, though will initially be reserved for members of Shell's Drivers' Club programme before randoms can get involved later this year. "Using a debit or credit card to pay at the pump simply isn't convenient enough," a fictional spokesperson commented, adding that booting up the Android/iOS Shell Motorist or Paypal apps, and pairing with a pump via a QR code so your PayPal credentials can be charged is the stuff futuristic nightmares dreams are made of. A receipt of the transaction will also be sent to your phone when you're done, confirming you've successfully completed the process and not screeched off with a full, free tank.
JetBlue will soon let you buy in the sky with Apple Pay
There will soon be one more place where you can purchase goods with Apple Pay, and for the first time, it's located 35,000 feet in the sky: a JetBlue airplane. The company is in the process of replacing its old in-flight payment systems with iPad minis that can accept mobile payments from iPhones 6 and 6 Plus. And yes, you can use the option to buy food, booze and even upgrade to an empty premium seat, in case you're struck with the need to treat yourself: just place the phone with your thumb on the home key near the flight attendant's iPad mini. Apple believes this won't be the last time an airline welcomes Apple Pay on board either, so if you don't fly JetBlue, well, you may want to cross your fingers that your favorite carrier follows suit.
The big phone carriers might sell Google their mobile wallet
Remember Softcard (formerly Isis, but renamed for obvious reasons)? It's a joint venture that AT&T, Verizon and T-Mobile started in 2010 to get into mobile payments without ceding the market to Google Wallet and Apple Pay. That hasn't quite worked out, since few want to put a $70 case on their iPhone to use mobile payments, and a caseless option for the iPhone 6 has yet to arrive. Tonight Techcrunch first reported rumors that it's in talks for a sale to Google, while Paypal and Microsoft are apparently interested too. The initial report puts its pricetag at under $100 million, less than the hundreds of millions the mobile carriers invested in it. Google and Softcard have both declined to comment on the rumor, but it seems more a matter of when and who will pick up the pieces, not if.
Restaurants will soon take any mobile payment at the table
Sure, your local drug store or theme park may let you buy things with your phone at the counter, but what about paying at the table in your favorite restaurant? Never fear, as Verifone will soon have you covered. Its upcoming Payware Mobile e355 wireless terminal lets stores accept any mobile payment you have, wherever you happen to be. It'll take Apple Pay, Google Wallet and other NFC tap-to-pay transactions, and the design is meant to accommodate as many device shapes and operating systems as possible. You may never have to break out your credit card just because the shop can't handle your new phone.
Disney World starts accepting Apple Pay and Google Wallet this week
Making a trip to Walt Disney World during the holidays? You might not avoid the long queues or endless parking lots, but you won't always have to pull out your wallet. As promised back in September, the Orlando area theme park will start accepting mobile payments on December 24th. The launch will let you use Apple Pay, Google Wallet and tap-to-pay credit cards to buy tickets, shop at stores and order from both bars and fast service restaurants. There are a few gaps. The system doesn't yet work at places that need a portable payment terminal, so you'll still have to break out the cash or plastic at a table service restaurant. You'll also have to wait until 2015 to get similar treatment at Disneyland in California. But hey, it's a start -- and it may save you a few headaches the next time you're jonesing to take a ride at Space Mountain. [Image credit: Kent Philips]
Early Apple Pay stats point to a modest but promising start
Sure, Apple was quick to tout a surge of Apple Pay registrations, but how often are people actually using the iPhone-focused payment service? A fair amount, apparently. Whole Foods tells the New York Times that it racked up 150,000 transactions in the three weeks after Apple Pay became available. That's not a lot in the grander scheme of things (just 7,143 payments per day), but it's significant for a single store and a brand new service with limited device support. Other shops aren't quite so forthcoming with stats, although they suggest that there has also been an uptick. Walgreens says its mobile payments have doubled, while McDonald's says that Apple Pay now makes up half of its tap-to-pay purchases.
Dash takes the hassle and guesswork out of barhopping
Sure, you might be able to make reservations at your favorite dinner spot (or tip your barista) via mobile app, but that won't tell you how busy it'll be once you get there. That, ladies and gentlemen, is what mobile payment outfit Dash is hoping to solve with its new trick, Venue Vibes. By meshing with a bar or restaurant's existing point of sale system, it's able to glean real-time info on just how hopping a place is based on the number of open tabs compared against its maximum capacity. Looking for a bar that isn't too crowded, but still has some life to it? Aim for a watering hole with a "relaxed" rating. Want someplace rowdy? Shoot for a "lively" venue. The app is currently only available in New York and Chicago for now, with somewhere in the neighborhood of 100 different bars and restaurants on board.
Bank of America issues refunds after double-charging Apple Pay users
Went on a spending spree with your Bank of America debit card the moment Apple Pay hit your iPhone? You might be in for a (brief) shock. The bank is now issuing refunds after it charged at least some Apple Pay users twice when they made purchases at retail shops. While it hasn't said what triggered the glitch, the issue doesn't appear to involve Apple's software -- there haven't been widespread reports of problems with other cards, and Apple itself doesn't process transactions. Whatever was the cause, it's not surprising that a major mobile payment service would run into some hiccups just after launch. Let's just hope that things go more smoothly from here on out.
Final's credit card tackles security with unique numbers for each retailer
While newfangled credit cards like Coin and Plastc aim to cut down on wallet clutter by loading up all of your payment methods in one place, another option is taking aim at security. It's called Final, and the chip & PIN card serves up a unique number to every place you shop or a "disposable" set of digits for one-time use. So when the next Target or Home Depot breach happens, you'll only have to deactivate the number assigned to those places rather than go through the hassle with your bank. You can easily deactivate numbers when a subscription has run its course, and set monthly limits so you're alerted when someone tries to go over that amount or that "free trial" runs out. When shopping online, there's a browser extension that quickly generates new numbers and populates the info fields automatically. What about mobile payments? Final plays nice with that digital wallet too, and as you might expect, a online portal offers access to spending info so that you can set goals and keep an eye on things. The company is looking to launch its beta in the first quarter of 2015, and if you're looking to opt in, you can sign up for early access via the source link down below.
US carriers are bringing their tap-to-pay wallet to the iPhone 6
Don't worry that Apple Pay will be the only game in town for tap-to-pay shopping on your iPhone 6. The carriers behind Softcard (aka Isis) have revealed that they're working with Apple to bring their NFC-based payment system to newer iPhones sometime in 2015. While you'll need a Softcard-aware SIM card in your phone for this to work, you hopefully won't have to slap a bulky case on your device this time around. It's doubtful that this solution will work as elegantly as Apple Pay, which doesn't even require that you launch an app, but it should let you purchase with your iPhone in considerably more places.
Apple Pay comes to the iPhone for handling mobile purchases, NFC in tow
For years, Apple has resisted including NFC connectivity inside its iPhone handsets... until now. With the arrival of the new iPhones, the folks in Cupertino are finally including the option that will sort mobile payments. What's more, it's doing so with a process it built for use on its handsets: Apple Pay. The new feature is included on both the iPhone 6 and iPhone 6 Plus and uses NFC, Touch ID and a Secure Element chip to keep that precious info under lock and key. So how does it work? Well, you add a card to your iTunes account, which then adds it to Passport. You can also suspend payments with Find My iPhone if your card gets lost or stolen without the need to make a phone call. In terms of security, Apple doesn't know what you're buying, and cashiers won't even see your name. Instead, a one-time payment number and a dynamic security code complete the transactions.
Working next-gen iPhone reportedly spotted with payment support built-in (update: video)
We've seen way, way too many leaks of the next iPhone's design, but none of them have shown a truly functional device -- until today, apparently. With the help of cnBeta, Chinese leaker zzray has posted photos and video that reportedly show off a fully functional 4.7-inch iPhone. On the surface, it's exactly what you'd expect: it's the iPhone 5s on a grander scale, with more real estate for icons and other content.
Isis mobile wallet becomes Softcard to distance itself from terrorists
The Isis crew promised it would rebrand its mobile wallet to eliminate any confusion with ISIS, the Middle Eastern terrorist group, and today that change is at hand: meet Softcard. It's not a particularly bold name, but the payment company believes that the "inherent simplicity" of its new badging could make it ubiquitous. Whether or not that's true, the transition should happen relatively quickly. You should see the Isis Wallet app transform into Softcard within a few weeks. Traces of the old naming scheme will stick around for a short while, but it should be a distant memory before too long.
