payments
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iPhone app and debit card from Simple aim to streamline consumer finance
Considering the amount of time your wallet and your iPhone spend sitting right next to each other, is it any wonder that banks and payment services are making iOS job #1 for their mobile strategies? Big banks like Citi and Chase have capable iPhone apps for handling your money on the go, with features like photo check deposit and quick payments. There are also pure mobile payment plays like Dwolla, Venmo and PayPal with sophisticated iPhone apps to handle sending money to friends and businesses. (PayPal recently acquired Card.io which makes an API for app developers to capture credit cards via the iPhone camera, rather than with a dongle or hardware sled.) The latest entry in the race to replace your traditional banking experience with something new and better comes from Simple, which puts a sophisticated web front end and sleek app atop a traditional debit card. Simple has just come out of beta for public account invitations, after several months of private testing. Founding CTO Alex Payne (formerly of Twitter) has also announced that he's stepping away from Simple to focus on other technology interests. Simple aims to provide a (wait for it...) simpler take on managing your money, whether it's from your computer or on the go. It's not a bank, exactly; it's a customer service firm that works with wholesale banks to provide a checking account and matching Visa debit card. You use the card just like any debit card, and you can get cash (fee-free) from any ATM in the Allpoint network. Unlike Mint, it doesn't aggregate your fiscal data from lots of accounts; it shows you just the one account, but with greater detail and responsiveness. %Gallery-161332% With a debit card, unlike credit cards, you can't spend more than you've got -- which makes them a great choice for tight budgets. Traditional debit cards still leave a window for you to get overdrawn, however, if you've got pending transactions that haven't hit your account yet. Simple helps your fiscal transparency by showing your "Safe to Spend" funds number, which incorporates your unreconciled transactions and docks your available cash as appropriate. The integrated Simple iPhone app provides immediate feedback and approval on your transactions as they're made; in fact, you can't sign up for a Simple account if you don't have an iOS device. You can use an iPad or iPod touch, as long as you also have a cellphone that accepts SMS text messages. The app is protected by a simple PIN code, rather than the username/password pair common for banking apps. Since your card transactions are immediately reflected in the app, you can do a lot of easy tracking and tagging to keep track of your money. The app and the website offer powerful search tools so you can figure out where and when you did your spending; the site also includes Gmail-style keyboard shortcuts for power users. One feature that's not ready at launch is check depositing via the iPhone camera. Right now, to add funds to your account you use direct deposit, EFT from your current bank, or mailed deposits. As for sending money out, you can direct payments to companies or individuals right from the iPhone app, but you'll need their full mailing address as Simple defaults to sending a check if it can't do an electronic transfer. I've only had my Simple account for a few days (card unboxing gallery above -- it's very nicely packaged, in a linen bag) and I'm not sure how much utility I'll get out of it. For anyone with a moderately complicated financial life, such as a joint account with a spouse or multiple sources of income, Simple may be too simple to gain much traction. For basic banking and debit transactions, however, it might be just the ticket. I'm going to try using my Simple card instead of cash for daily spending so I can get a better sense of how much money is going into coffee and sundries (and how much I could be saving for a new MacBook Air instead).
PayPal buys Card.io visual credit card scanner platform, is neither Here nor there
Thought PayPal was done upping its mobile payment game when it unveiled its triangular Square competitor earlier this year? Think again. Despite Here being, well, here, PayPal's not satisfied having but one way to scan your plastic, and so it's snapped up Card.io. In case you've forgotten, Card.io gathers credit card info visually using a smartphone's camera -- no scanning dongle required -- to save fingers and thumbs from having to enter payment info manually. Oh, and for folks fearing that PayPal would pull the plug on other apps' access to Card.io's SDK, not to worry -- PayPal assures us that Card.io's technology will remain available to developers.
MasterCard and T-Mobile to bring NFC payments to Europe in Q3 (video)
Poland and Germany could be the next two countries to get smartphone payments, powered by MasterCard and Deutsche Telekom. The SIM-based NFC solution will utilize the US bank's ClickandBuy service for processing and will be available to T-Mobile customers, rolling out to Poland in Q3 of this year and Germany in 2013. This latest partnership comes on the heels of Vodafone's pairing with Visa, which is also said to be making a push for the German market. What remains to be seen is whether or not there is in fact a demand for mobile payments -- the technology has yet to take off in the US, despite an influx of funding and infrastructure from MasterCard and Google. NFC is no doubt the future of cashless transactions, but it likely remains a few years away from hitting the mainstream, with compatible devices still limited, on both the customer and retail fronts. Hit up the links below for a closer look at DT's push to conquer the European market, one NFC-equipped SIM card at a time. Then jump past the break for a quick intro, compliments of Deutsche Telekom CEO Rene Obermann and MasterCard CEO Ajay Banga (the two seemingly random gentlemen that you may have noticed above as well).
TiVo and PayPal let you buy stuff using your remote, hopes you swing past the shopping channel
Those late-night adverts for a steam-powered ab-crunching bagel toaster (just $400, plus $99 postage and packing!) will soon be much harder to resist, thanks to TiVo. The DVR maker has teamed up with PayPal to enable you to purchase goods with your remote control during the commercial. A global financial meltdown will probably ensue just as soon as the company can get compatible adverts developed, which is currently slated to begin airing during this year's fall TV season. Update: According to PayPal, it's also "exploring" opportunities with Comcast, although discussions are still in early stages.
Facebook smooths the way for carrier billing on in-app purchases
Facebook has known for some time now that its app-monetization process was more SucksVille, than FarmVille. Now, it's just announced that it's rolling out the new silky-smooth two-step payment process. This means you can stock up on Farm cash sans typing, and forget about the real cost until your mobile bill turns up. Currently most US and UK networks are on board, but more international operators will be added as soon as they can. If you already have payments integrated in your app, you should be good to go, but if you don't, and you want a slice of the pie, there's an API and instructions via the source link.
Square now available at Walgreens, Staples and FedEx Office
While a roster of competitors are trying to get their foot in the mobile payments door, Square's busy getting a foothold in retail stores. With Walgreens, Staples and FedEx Office locations now carrying the credit card reader, it's available at more than 20,000 physical shops throughout the US -- joining Apple, Best Buy, OfficeMax, Radio Shack, Target, UPS and Wal-Mart. Bringing it home from a brick and mortar establishment will set you back $9.95, but Square's sweetening the pot with a $10 rebate for new users. However, if your entrepreneurial snail mail-loving heart desires, you can still have one mailed to you by signing up online. Eager to start swiping plastic? Lookout below for the full press release.
PayPal mobile payments hit the UK, filling your closet just went wireless (video)
PayPal's mobile payments have been on a whirlwind American tour this year, but they haven't had a chance to cross the border so far. Someone must have finally stamped the company's passport, since it's now an option for UK residents to pay using the InStore app for Android or iOS. A trio of fashion outlets -- Coast, Oasis and Warehouse -- can soon scan an on-screen barcode to take payment for that posh new shirt instead of requiring ye olde wallet. As it is in the US, there's no need for any NFC magic or even an Internet connection to clinch the deal, and there's still the same access to discounts and refunds as for paper- and plastic-wielding buyers. A total of 230 shops will take your PayPal credit starting May 31st, although they won't stop your potential fashion mistakes.
Google Wallet: one year later
The rumors and leaks go back a bit further, but it was a year ago today that Google officially revealed its Google Wallet mobile payment service -- a platform that the company is still betting big on, even if it may be slightly reconsidering the way it does business. While it might not have taken off quite as quickly as Google would have liked, the past year has still been a fairly eventful one for the service -- albeit occasionally for reasons the company would prefer you forget -- and the next year proves to be even more challenging as the service faces increased competition. Read on for a look back at how we got here, and what lies ahead for both Google Wallet and mobile payments in general.
PayPal lines up 15 retailers for mobile payments, will let you buy Jamba Juice smoothies with a smartphone
Although PayPal's mobile payment system started out small with a Home Depot deal, that snowball is quickly rolling itself into a boulder. Starting next month, 15 extra US retailers will be happy to see you slap down your smartphone (not literally, we hope) instead of a credit card. The selection leads us to think a lot of smartphone owners like to shop for wearables -- Aéropostale, Foot Locker and JC Penney are in the batch, along with others -- but there's a few useful exceptions, like Barnes & Noble, Jamba Juice and TigerDirect. At least a total of 20 merchants are expected by the end of year, and as with Home Depot, you won't need special hardware besides an Android or iOS device to spend your hard-earned cash. We'll just be thankful we won't have to buy our yogurt with actual cash, like savages.
Isis partners with Austin and Salt Lake City merchants, throws John Stockton elbow at Google Wallet
Mobile payment system Isis continues to rack up passengers on its merry bandwagon, gaining support from local merchants in two cities for its NFC wallet service. The carrier-based program announced that hundreds of merchant locations in Austin, Texas and Salt Lake City, Utah are entering the Isis fold -- joining national entities such as Coca-Cola and Macy's in its initial list of partners. The selection of participating local businesses runs the gamut from cafes and restaurants to a country club and the Utah Jazz. The platform has already corralled support from handset makers, point-of-sale terminal purveyors and credit card companies such as American Express. Expect some Mortal Kombat action for your mobile purse strings between Google Wallet and Isis once the latter launches this summer. In the meantime, check out the obligatory PR after the break.
Isis bolsters its mobile wallet with American Express cards
The carrier-backed Isis mobile payment service added a batch of new financial partners earlier this year, and it's now back with another fairly big addition. The venture announced today that it has brought American Express' various credit card offerings into the fold (including the company's own mobile-linked Serve cards), which will let users of those cards load them into the Isis app and make payments with their NFC-equipped smartphone -- when the service begins its rollout this summer, that is. As you may recall, American Express itself had already signed on as an Isis partner last year, but this is the first time that the company has committed to tying its cards to the platform -- which is a rather important little detail.
Square's feeling good, on pace to take $5 billion in payments per year
Despite growing competition from PayPal, Intuit and Verifone, it appears that Square's business is still going gangbusters. The grandaddy of all smartphone payment systems is set to take $5 billion in payments this year, up from $2 billion a scant six months ago. According to company COO Keith Rabois, such expansive growth has been fostered by the fact that Square makes the cash from transactions available to merchants the next business day -- a feature greatly appreciated by small businesses. Clearly, Huey Lewis was right, and you can see what we mean after the break.
Barclays releases PayTag: the NFC card you glue to your phone (video)
If you don't have a fancy NFC-enabled phone then it's hard to join the mobile wallet club. Fortunately, Barclays has introduced the PayTag that turns any phone into a contactless card. It's a square of plastic a quarter the size of a credit card that's sticky on one side -- yup, you just jam it on the back of your phone and hey presto, you can buy sandwiches, or any purchase up to £15 (£20 from June), without opening your wallet. The sticky squares will be rolling out exclusively to British Barclaycard customers over the next few months, although we're not sure what it'll do to the trade-in value of your handset.
Bump Pay lets you tap a friend for cash
Taking cues from an ING Direct app that used its API, Bump Technologies has developed its own version of the mobile payments software, enabling phone-to-phone "Bump" transactions using PayPal. Yes, PayPal. That minor processing detail aside, the service appears to offer a fun solution for simplifying the fairly painful process of paying the check at group meals, or splitting a tank of gas with a friend. Both you and your bud need to have the app installed before you can beam that green, and there's no option to send payments remotely, though you could always use plain ole vanilla PayPal for that. The app is free, and if you have a checking account linked you won't have to deal with any fees. Bump Pay is iOS only "at launch" (read: it could be making its way to Android as well), so for now you'll need to bump the App Store to get folks paid.
Google reportedly rethinking Google Wallet strategy, may share revenue with carriers
It's not a done deal just yet, but Bloomberg is reporting that Google could be about to make some big changes to the way it does business with Google Wallet. Citing people with knowledge of the project, Bloomberg says that Google is considering sharing revenue from Google Wallet (specifically that from coupons and special offers) with carriers in an effort to boost adoption of the service, which hasn't exactly taken off as quickly as Google may have hoped (and is also seeing some increased competition). In addition to that, Google is also said to be considering a move that would side-step the carriers and focus more heavily on in-store terminals -- something Bloomberg says could involve additional hardware and software in stores that would work in conjunction with software on Google's own servers. For its part, Google didn't have much to say on the matter, simply noting in a statement that it continues to "work hard to develop Google Wallet and build the partner ecosystem to make it possible for everyone to pay with their phones and get great deals while shopping."
New York Times nears half-million online subscriber mark, halves free article allowance to celebrate
The New York Times just gave you more reason to consider making the jump to a paid online subscription -- beginning in April, that free article allowance will see a 50-percent cut, from 20 monthly articles to just 10. This modification comes one year after NYTimes.com launched its infamous content paywall, and following an announcement that the publisher has signed up 454,000 digital subscribers. Paying readers will receive a 12-week subscription that they can gift to anyone on the fence about swiping for access, and smartphone and tablet app users will continue to have access to the "Top News" sections for free. You'll also be able to read articles linked from other sites on the web, including your inbox, and can access five free posts a day that appear in search engine results. Completely unfettered access will range in price from $15 to $35 per month -- you'll find full details in the PR just past the break, and at the source link below.
PayPal's Digital Wallet lets you decide how you empty yours (video)
PayPal has been helping us pay for those impulse purchases for a long time, but now its forthcoming Digital Wallet could see it popping up on our bank statements a whole lot more. Speaking with eBay Ink, PayPal's Sam Shrauger gave a quick demo of some of the new features. As well as the regular payment handling, you'll be able to register gift vouchers, coupons, loyalty points and store credit cards all under one account. This sounds tidy, but more interesting is the ability to change how you pay for something (say, from credit to debit card) up to seven days after the fact. If you want to keep those big purchases on the Amex, that's no problem either, with configurable rules letting you assign different cards to different spending situations, including setting your own custom payment plans. It's not all about buying either, with savings also getting the digital treatment, that's if you haven't doled it all out on gadget rarities. The service is expected to land in May, in the meantime see the new features via the videos after the break.
Square wants Square Register and iPad to be your POS solution
Square is looking to expand its reach into retail using its new Square Register app for the iPad. This solution promises to replace the cash register and let small retailers process credit card payments, accept cash payments, list store products and track customer purchases. Similar to Square for the iPhone, the Register app and the credit card reader are available for free. Merchant must pay 2.75% per swipe for Visa, MasterCard, Discover and American Express. The new Register app works on iPads running iOS 5. There are no plans to bring the POS system to Android.
eBay, PayPal, Opera announce mobile payment innovations at MWC
Nope, "Grease" isn't the word, it's "Mobile Payments," or at least it would be if it wasn't technically two words. Still, eBay, PayPal and Opera have used the fiesta atmosphere at MWC to promote their services, as you do. eBay's partnered with UK carrier Three, which will now pre-install the auction site's apps on all the Android phones it sells. It's also teamed up with hotelier Yotel and Iberian ticketing service Entradas to offer quick-and-easy payments for the same. Meanwhile, Opera has launched the Opera Payment Exchange (OPX), aiming to democratize the space by making secure commerce available on any form of feature phone, rather than just top-level smartphones. Finally, PayPal has rolled out a new payments system to Home Depot nationwide. Every branch will be equipped to handle payments from the online agency using a card or cellphone and PIN combination. After the break we've got the details for all three, suffice to say it won't be long before you can spend every penny you've earned without having to get out of bed.
Facebook to simplify in-app payments with streamlined carrier billing
Need another watering can to irrigate those crops on your highly-profitable Facebook farm? Soon you may be able to boot that expense directly to your monthly mobile tab, just as you do with other necessities, like ringtones and emoticons. The social networking site is working with carriers to streamline billing, eventually enabling Facebook users to pay their app dues along with their monthly phone bill. Naturally, this is a win for developers, since eliminating the need to pre-purchase Credits or enter card information will result in an increased number of impulse purchases -- and let's face it, there's no line item for FarmVille in the monthly budget. Quite a few carriers appear to be on board -- AT&T, T-Mobile and Verizon in the U.S.; Deutsche Telekom, Orange, Telefonica and Vodafone in Europe; and KDDI and Softbank in Japan -- so it looks like devs should have plenty of reasons to celebrate. The service will be automatically activated once providers support it, enabling easier purchases for "hundreds of millions of people worldwide." Streamlined carrier billing is but one recent development, so hit up the source link for the full rundown.
