Mobile payment volumes to increase 1000% in 2015
In-store mobile payments will increase by more than 1,000% worldwide in 2015 with 5% of the world’s smartphones being used to make a payment in a store at least once a month, according to Deloitte’s annual Technology, Media & Telecommunications (TMT) Predictions report. This is up from under 0.5% in mid-2014 and accordingg to analysts, 2015 will be the first year in which the multiple prerequisites for mainstream adoption — satisfying financial institutions, merchants, consumers and device vendors — have been sufficiently addressed.
HDFC Bank to launch digital wallet
HDFC Bank, India’s second largest private sector lender, will be launching a digital wallet and market place for various online merchants, according to news reports in the country. The launch of a wallet marks a huge shift in strategy for the lender which is currently the largest issuer of credit cards in the country – over 5.5 million outstanding credit cards at the end of October according to Reserve Bank of India data.
SMI, Citi, and Visa revolutionize digital payments
SMART e-Money, Inc. (SMI), the mobile financial solutions arm of Smart Communications, Inc., in partnership with Citi Philippines and Visa recently unveiled Charge2Phone or C2P, the country’s first sticker-based Near Field Communication (NFC) payment solution that is expected to revolutionize the way Filipino consumers pay for face-to-face and online transactions.This innovative payment technology enables Smart and Sun postpaid subscribers to use their phones not only for SMS, calls and browsing services, but also to pay for small-ticket items. Because it is linked to the postpaid account, one’s mobile number may be used for online transactions. Designed to fit the back of one’s mobile phone device, C2P effectively transforms the mobile phone into a credit card or wallet.
ETSI publishes European Standards for intelligent transport
ETSI recently published two European Standards for Intelligent Transport Systems (ITS): the specification of Cooperative Awareness Basic Service – EN 302 637-2, and the specification of Decentralized Environmental Notification Basic Service – EN 302 637-3. They define the message sets needed for running Cooperative ITS safety critical applications. Published as Technical Specifications in Release 1 of ETSI ITS, the ENs have been prepared taking into account feedback from Plugtests™ interoperability testing workshops organized by ETSI for the industry, as well as feedback from implementation. They were developed under Mandate 453 of the European Commission.