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LightSquared's troubles continue, company defaults on $56M payment to Inmarsat
It's been a while since LightSquared had some good news to boast about, and it doesn't look like that situation's about to change anytime soon. The latest stumble for the company stems from its 2007 agreement with UK-based satellite operator and spectrum owner Inmarsat, which was due a $56.25 million payment from LightSquared that it has now defaulted on. For its part, LightSquared is laying some of the blame on Inmarsat, saying that it has "raised several matters that require resolution" before the first phase of the agreement comes to a close, and that "the terms of the agreement allow for additional time to resolve pending questions before phase one is complete and the final payment is due." This comes as the company faces a brick wall in the form of the FCC, which it has been struggling to get approval from and has recently been criticizing in increasingly blunt terms. Its full statement on the Inmarsat matter can be found after the break.
T-Mobile brings Square to select small businesses, does the mobile payment thing
T-Mobile is throwing some of its weight behind the mobile payment movement this morning, becoming the first carrier to offer Square credit card readers to a handful of retail outlets. Under the company's new campaign, stores equipped with T-Mobile smartphones will be able to use Jack Dorsey's readers to finalize transactions from the comfort of their palms. This should come in handy for cash-only businesses, in particular, as T-Mobile emphasized in its announcement today. It's all part of the provider's lineup of small business offerings, though not every retailer will be involved at launch. To see the full list of Squared-up outlets, check out the source link below.
MasterCard reveals roadmap for our electronic payment future: EMV in, magnetic strips out
It's been over fifteen years since MasterCard, Visa and Europay developed EMV technology to make your credit cards more secure, but it has yet to really catch on here in the US. However, MasterCard has created a master plan to help usher in the EMV era and sound the death knell for the magnetic strip. Why? The EMV infrastructure is far more fraud-resistant because each transaction is authenticated dynamically using cryptographic algorithms and a user-specific PIN. That's why MasterCard plans to help build out the EMV POS infrastructure by April of next year and have its secure e-payment system functioning at ATMs, online and with its myriad mobile payment options as well. For now, the nuts and bolts of how the credit card firm plans to bring its plan to fruition are few, but more details will be forthcoming, and there's a bit more info at the source and PR below.
Microsoft paid Nokia $250 million to adopt Windows Phone, Q4 earnings report reveals
Microsoft and Nokia have historically been pretty tight-lipped about the value of their Windows Phone partnership, but the cat leapt out of the bag this morning, courtesy of Espoo's Q4 2011 earnings report. As SlashGear's Chris Davies noticed, Nokia received about $250 million from Redmond during the fourth quarter of 2011, as part of the companies' "broad strategic agreement." Under the agreement, the manufacturer receives so-called "platform support payments" from Microsoft -- which, in turn, receives software licensing payments from Nokia. The $250 million Microsoft doled out last quarter is the first of these transactions. All told, Nokia expects the payments both to and from Microsoft to total "in the billions of US Dollars."
PayWizard offers more ways to pay for content on Samsung smart TVs
PayWizard's "multi-screen" TV payment platform has been available for some time in the UK, but the company's now taking advantage of CES to attempt a big push into the US market. That multi-screen bit comes from the ability to manage your account and purchase content on multiple devices (including smartphones and PCs, in addition to smart TVs), and the company is also touting a new voucher system that can be used for gifting and promotions from content providers. While it remains to be seen how widely it will be used, the company has already gotten off to a decent start by announcing an application for Samsung's smart TVs, which will let folks refill their balance and manage their accounts. Additional details can be found at the source link below and in the press release after the break.
Confirmed: Intel's Ivy Bridge chips will support NFC
Well, looky here. We're reporting live from a keynote on Ultrabooks starring Intel's Mooly Eden, where the star exec just revealed that the company's forthcoming Ivy Bridge chips will support NFC, demoing a transaction involving a laptop and PayPass-enabled MasterCard. Suffice to say, we haven't really seen this technology incorporated into laptops, though it is reminiscent of the older TransferJet standard (not that that ever took off). Unfortunately, Chipzilla's otherwise being mum on details: it's too early to know which credit card companies, software developers and laptop makers are on board, but hopefully Intel's backing is enough to spur some innovation here. Billy Steele contributed to this report.
Square's perimeter gets larger, now sold at UPS and OfficeMax locations
What's a company to do once it grabs a million merchants? Grab a million more, naturally. Following an online rollout and a wider spread to Apple Stores, Jack Dorsey's own Square is expanding to OfficeMax and UPS locations. A couple of months back, the outfit announced that it was handling some $11 million in payments per day (a wild increase from $4 million per day in July), and with the new agreements, Square payment devices are being sold at 10,000 retail locations. The hardware itself will sell for $9.99 in stores, but each buyer can redeem a $10 credit to their bank account. Beyond this? It's reportedly hoping to "upgrade the experience of running a business, end-to-end, on the iPad," with the outfit adding "in-depth merchant analytics to its iPad experience, allowing merchants to access information about which inventory is selling well, and what they can do to help make more money." Oh, and in case you couldn't guess, Square's also looking to staff up even more to tackle all of 2012's goals -- three cheers for job creation, yeah?
Samsung's Smart TV SDK reaches 3.0 with support for USB controllers, payment and ads
Even though all signs indicate Samsung will be joining the Google TV party shortly, it's not going to give up on its own existing Smart TV platform just yet. We don't know if it will run the two side by side as it has operated with Yahoo! Widgets, but the Korean manufacturer has announced it plans to release version 3.0 of its SDK January 5th. The new Samsung Apps toolkit supports mobile devices and TV sets, and lets developers build in support for remote controls, as well as USB mice, keyboards or gamepads. Of course, not all devs will work for free, so they're also adding a way for them to get paid through the built-in payment system or advertisements. Currently, Samsung claims 25,000 developers from 140 countries in its forums, but we'll have to wait until CES 2012 to find out if its products live up to the hype and attract more innovative software to the segment.
Verizon backs down from convenience fee, values your two cents
The people (and government) have spoken and Verizon has listened -- and issued a press release. The carrier has officially backed off of the "single payment fee" that drew almost universal ire amongst subscribers and nabbed the attention of the FCC. Says Verizon Wireless CEO Dan Mead, "we believe the best path forward is to encourage customers to take advantage of the best and most efficient options, eliminating the need to institute the fee at this time." Looks like the company's gonna have to get a couple of bucks from you another way. No word yet on whether the FCC plans to investigate Sprint's similar long-standing fee. Official statement after the break.
Verizon's $2 convenience fee inconveniences the FCC
Just like hard working humans, giant companies like to get paid consistently and on time for services rendered. But Verizon's method for motivating customers to pay up -- in the form of a $2 convenience fee -- isn't sitting so well with consumers, or the FCC. A Federal Communications Commission official confirmed that the fee hasn't gone unnoticed, saying "on behalf of American consumers, we're concerned about Verizon's actions and are looking into the matter." The $2 "payment convenience fee" is scheduled to hit consumers beginning on January 15th, but if the FCC doesn't step in before then, you can still skip the toll by signing up for AutoPay, or making your way to a different carrier.
Leaked memo details Verizon's $2 fee for paying your bill; autodraft or ACH the only way out (update: confirmed)
A couple of years back, AT&T offered select customers a $25 prepaid MasterCard to switch their billing over to autodraft. Soon, Verizon Wireless will be following Sprint's footsteps and charging you for every month that you aren't using that very system. Tactical differences aside, the leaked memo shown above details what has to be one of the most consumer-unfriendly policy changes since the carrier boosted its early termination fee for "advanced devices." Effective January 15th, any customer that opts to pay their wireless bill online or over the phone will be charged an extra $2 each month, and the only way to sidestep it is to sign up for AutoPay or to pay by electronic check, where there's no credit card fee passed on to the carrier. For those unaware, AutoPay automatically drafts the most recent amount from either a linked checking / savings account or a credit card on file, and while we can understand VZW's desire to better control when it's getting paid, charging customers to make it happen is just downright ludicrous. Here's a thought, Verizon: enforce stricter penalties on late payments, or just offer those that shift to AutoPay a small discount for going out of their way to make your life a little easier. Or, you know, for all those hours that your network has been down during the holidays. Update: Verizon has officially confirmed the change to its policies and the $2 surcharge you'll be hit with each month if you're not using autodraft or some other small subset of payment options. Head after the break for all the details straight from the horse's mouth. [Thanks, Alex]
RIM, Telefonica announce NFC trial, aim to launch mobile wallet next year
RIM's NFC campaign is about to roll into Iberia, now that the BlackBerry manufacturer has announced a new partnership with Madrid-based Telefonica. This week, the two companies unveiled plans to begin testing a mobile payment and ID card system across the Spanish capital, in the hopes of launching commercial services next year. The so-called Telefonica Wallet for BlackBerry trial will involve some 350 Telefonica employees and a select group of testers within Madrid, each of whom will be able to make payments, access offices and check bank statements from their BlackBerry handsets. Telefonica's Matthew Key told Reuters that his company chose RIM to participate in the trial primarily because of the security of its BlackBerry platform, stressing the importance of earning enough consumer trust to handle sensitive personal data. No specifics yet on when or where the carrier will launch a full payment system, though Key said that Telefonica's aiming to bring it to a handful of markets in 2012.
PayPal Facebook app lets you send money and greetings to friends, only takes 2.9-percent cut of your 'free' e-card
Well, this certainly seems like a no-brainer for PayPal. The company just launched a Facebook app that lets you send money to anyone on your friends list, with the usual list of terms and conditions in tow. After logging into Facebook and authorizing the app, you'll be able to use PayPal to transfer funds to individuals that you're connected with (who also have PayPal accounts, of course), adding a layer of security to the notoriously fraud-laden online payment service. Payments are free to send and receive, but only if they're funded using a bank account with both parties in the U.S. Want to use a credit or debit card instead? PayPal will collect 2.9 percent (either from the sender or recipient), with a 30-cent processing fee to boot. And if you're sending funds abroad, fees range from 0.5 to 3.9 percent, depending on a variety of factors. A rather comprehensive collection of e-cards helps soften the blow if a fee applies, and includes selections for just about every occasion. Fourth of July coming up? Let's top up that fireworks fund. So dig up those account and routing numbers and get ready to stick some virtual cash in a virtual card -- just one week 'til Thanksgiving!
Google Checkout merges with Google Wallet, completing the inevitable
In a move that has "common sense" written all over it, the folks over at Mountain View have decided to merge Google Checkout with Google Wallet. The marriage hardly comes as a surprise, considering the fact that both services serve essentially the same purpose -- namely, storing all your payment information in one neat little package. To make things even tidier, Big G has just folded Checkout into Wallet, which will soon be integrated within the Android Market, YouTube and Google+ Games, as well. As a result, the Checkout moniker will vanish from the Earth, but current users will be able to seamlessly switch over to Wallet the next time they log in to their accounts or make an online purchase. For more details, check out the source link below. [Thanks, Samer]
AT&T and Intuit square up to... Square (video)
Better watch your back, Jack. Smartphone-payment player Intuit has formed an unholy alliance with AT&T to produce Intuit GoPayment for AT&T (these guys love the sound of their own names) in the hope of muscling in on Square's burgeoning smartphone mobile payments game. Time and money-poor small business people just need to insert the reader into the headphone socket of their phone (or tablet) and fire up the app. The partnership is offering faster deposits, no monthly service charge (mind that 2.7 percent commission per use, though) and the backing of a massive telecoms corporation. The service also forwards email receipts to customers and integrates with Quickbooks to save a further job when it's the end of quarter. The partnership thinks that mobile transactions will be in the trillions and, understandably, want in on that action. After the break you can watch an informative video and read all the gory details in the joint press release.
Google Wallet adds coupons, rewards points, Jamba Juice
Could Google Wallet really help you find Blackberry Bliss? Indeed it can, now that Big G has beefed up its mobile payment platform with a host of offers from retailers like Jamba Juice, American Eagle, OfficeMax and Foot Locker, among other partners. Yesterday, Google rolled out a new program whereby consumers can redeem coupons and accumulate rewards points at select locations, using only their handsets. The app's Offers tab, meanwhile, has expanded to include so-called "Featured Offers," where users can take advantage of discounts exclusive to the Google Wallet platform. Unfortunately, these features are only available at select locations, so check out the source link below to find the one closest to you.
Kinect hack lets you manage your bank account with gestures, will occupy your living room (video)
You know all those convoluted gestures and hate-infused fist pumps you make every time you look at your bank account? Well, you can now put them to good use, thanks to a new Kinect hack from Lithuania-based Etronika. The company's software, which made its debut at last week's CTIA E&A event, effectively brings motion-controlled banking directly to your living room. All you have to do is stand in front of your display, clap your hands to choose an icon, or wave your hand back and forth to navigate across the app's carousel menu. This means you can pay your bills, check your balance and return to fetal position without even touching a sharp object. "A lot of banking software apps are filled with boring crap," Etronika CEO Kestutis Gardziulis explained with refreshing candor. "With our software, you could be on the couch at home, having a beer, all while dealing with your bank account and kicking back." Beer, banking and body language -- sounds scandalous! Head past the break to watch a demo video, starring Pam Beesly's doppelgänger.
Square already processing $2 billion in payments
The iOS-based payment system, Square, is blowing up lately, just like we figured it would way back when. The company already handles up to US$2 billion in payments per year, according to the AP, and is used by 750,000 merchants. That "per year" is a little weird to say, especially considering the company has only been around for a little over a year. In short, Square's experiencing phenomenal growth, and merchants everywhere are already depending on the company to see through billions of dollars in revenue. That's pretty unprecedented, even in this crazy fast-moving world of iOS apps. And that's not all. Square is also lowering the barrier of entry to the program, allowing even new merchants to have their money deposited in the bank as quickly as possible. Previously, merchants had a limit of $1000 that could be processed per day, but those limits are apparently now gone for all merchants, so everyone who sends a payment through Square will get it as soon as the company can send it out. That means we'll see even more money going through the system. I've already used Square a few times with various merchants I've dealt with -- early on, those were the folks at Macworld who were more than ready to depend on an iPhone-based processing system, but since then, I've seen it running everywhere from a local theater to a flea market merchant processing credit card payments. Square's growth is really impressive, and if all the indications are true, it's only beginning.
PayPal to open NYC pop-up store next month, showcase new mobile payment services
The idea of a physical PayPal store may seem somewhat counterintuitive, but that's exactly what the company is planning to open next month, in Manhattan. As TechCrunch recently revealed, the forthcoming pop-up store is slated to open its doors on November 1st, as part of a campaign designed to promote PayPal's new slate of in-store technologies. Located at 174 Hudson Street in Tribeca, the outlet will also sport a large QR code on its exterior, which passers-by can scan with their smartphones to find more information on the company's new mobile payment services. Inside, merchants will be able to better familiarize themselves with PayPal's commercial offerings, which include location-based promotions, cross-device payment services and real-time inventory checks, among others. The store will be open for about three and a half months, and PayPal's new features should be making their way to physical retailers in the near future. No word yet on specific partnerships, though the company is expected to announce them soon.
Developers get Google Wallet on original Nexus S, squares wiping your phone with $10
Previously the exclusive phone-swiping domain of Sprint's Nexus S 4G, it now seems possible to get the wonders of Google wallet on its decidedly 3G predecessor. However, it's not an operation for the faint-hearted. If the words Cyanogen, full wipe, flash and kernel resemble white noise, it's probably worth waiting for an official release. See how the forum members at XDA Developers got their NFC wallet fix at the link below. [Thanks, John]
