Hasta La Gadget!

Soon after getting V.me past the beta stage, Visa has signed up with old partner RBS for the UK launch of the digital wallet service. RBS and NatWest customers have started playing with the PayPal rival, and a full-blown rollout is aimed for spring 2013. While BBVA is slated to be the first financial institution to bring V.me to Spain, a French outing is planned for later this year. With mobile payments looking up, not least when springing for a cup of latte, it’s yet another step leading towards a cashless world — albeit a world where plastic still rules.

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Via: Pocket-lint

Source: Visa Europe

After roughly a year since its unveiling, Visa’s digital payment platform V.me has emerged from beta with support from a total of 53 banks, including PNC and U.S. Bank, and 23 retailers. If V.me has escaped your memory thanks to the proliferation of electronic payment options, you’d be forgiven. For those in need of a refresher, the service lets users check out at participating online stores using a one-click solution that remembers credit card details from multiple providers (American Express, Discover, MasterCard and Visa) in addition to billing and mailing addresses. Visa’s Global Head of eCommerce, Jennifer Schulz, told TechCrunch that the firm is planning on making mobile apps and bringing the service to checkout terminals next year. How does the company plan on standing out from the sea of options? Visa’s banking on its brand-name and ability to spread the service far and wide. If V.me has piqued your interest, leap past the break to catch the full list of supported banks and retailers.

[Image credit: Philip Taylor, Flickr]

Continue reading Visa’s V.me digital wallet service graduates from beta with 53 banks, 23 retailers on board

Filed under: Cellphones, Misc, Internet

Visa’s V.me digital wallet service graduates from beta with 53 banks, 23 retailers on board originally appeared on Engadget on Wed, 14 Nov 2012 05:57:00 EDT. Please see our terms for use of feeds.

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Lower Manhattan, Pearl Street, the Financial District. A Starbucks with broad windows, great for people watching. Sipping my $5 flavored coffee, I watched a homeless man sit on the sidewalk. I liked him immediately: his sharp gaze and thoughtful expression. When I left, I squatted down next to him and put five bucks in his jar, contributing the cost of my first-world coffee to the man’s case for survival.

We talked. He knew his tech, this man of no possessions, describing his favorite productivity gadgets of the past decade, scorning Apple for form over function. He had been living on the street day and night for two years. My five dollars was “huge,” he said. I knew that was true only microcosmically. He liked cigars. That’s where the cash would go.

Meanwhile, Starbucks had recently cut a deal with Square, one of the hottest startup stories of the season, so that people with five dollars to spend on coffee needn’t pull out a wallet and ponder their privilege.

Continue reading Editorial: Square gets the attention, but credit cards rule

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Editorial: Square gets the attention, but credit cards rule originally appeared on Engadget on Tue, 02 Oct 2012 14:00:00 EDT. Please see our terms for use of feeds.

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Popular deal website Groupon is venturing into the world of smart phone-based credit card payments today, launching the Groupon Payments initiative nationwide after a successful pilot program is the San Francisco Bay Area earlier this year. Groupon’s boasting a guaranteed lowest cost pricing to merchants using Groupon Payments for credit card transactions — MasterCard, Visa, and Discover will cost retailers 1.8 percent of credit card sales, plus a $0.15 per transaction fee, while American Express will cost three percent of credit card sales, plus a $0.15 per transaction fee. The biggest competition in the space comes from Square, headed by former Twitter co-founder Jack Dorsey, which charges a flat 2.75 percent rate on all transactions against all cards, though PayPal, Intuit, and Verifone all offer similar services.

Today’s news matches up directly with leaks we saw back in May, adding on that merchants will see the day’s credit card purchases credited to their bank accounts overnight, rather than waiting two to three business days (per standard practice). Beyond credit card services, Groupon’s Merchants app also accepts Groupon daily deals, which helps elucidate why Groupon would be interested in entering the mobile credit card payments market in the first place (beyond it being a lucrative market unto itself, of course). Interested parties can sign up over on Groupon’s website, and snag the free payments app right here. Finally — finally — you’ll be able to sell all those $10 gift certificates to Chili’s you’ve been hoarding. Perhaps charge $5 a pop for their $10 value and … is this a paradox? This might be a paradox.

Filed under: Cellphones, Tablets, Wireless, Internet, Mobile

Square competitor Groupon Payments launches today, promises lowest cost for retailers originally appeared on Engadget on Wed, 19 Sep 2012 11:08:00 EDT. Please see our terms for use of feeds.

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There’s little doubt that mobile payments hold a ton of potential for the future of commerce, but without proper direction (and willingness for adoption), the technology remains little more than an impractical curiosity for the majority of consumers. In an effort to define a way forward for the mobile payment industry, a large number of heavy hitters have banded together under the umbrella of the Electronic Transactions Association to form the Mobile Payments Committee. Not only does the group include all four of the top US carriers, but also Google, Isis, VeriFone and PayPal. Add to that financial institutions such as Wells Fargo and Capital One, along with American Express, Discover, MasterCard and Visa, and you’ll quickly realize that this group is playing to win.

Primary goals of the Mobile Payments Committee include fostering relationships with merchants, ensuring consumer access to modern payment methods, exploring best practices and ensuring interoperability of networks, equipment and financial institutions. The group will also engage in lobbying activities with legislators and regulators, and will additionally work to educate both merchants and consumers about the potential of mobile payments. With so many key players (and competitors) sitting around one big table, what wouldn’t you give to be a fly on the wall during those meetings? For a little extra insight, just hop the break for the full PR.

Continue reading Google, PayPal, VeriFone and US carriers band together to form Mobile Payments Committee

Filed under: Cellphones, Misc. Gadgets, Wireless

Google, PayPal, VeriFone and US carriers band together to form Mobile Payments Committee originally appeared on Engadget on Thu, 09 Aug 2012 22:53:00 EDT. Please see our terms for use of feeds.

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