Tag: middle east

Retailers in Europe and the Middle East want to embrace mobile payments

| May 5, 2015

Survey shows that retailers are becoming more interested in new payment technologies and services

Retailers in Europe and the Middle East are planning to invest in new payment technologies in the coming years, according to a survey from ACI Worldwide and Ovum. Many retailers are beginning to see a trend among consumers that involves the use of mobile devices to shop for and purchase products. As this trend become more powerful, retailers are beginning to feel the pressure to engage mobile consumers more effectively or risk being left behind by these consumers.

Retailers in Europe and the Middle East have plans to embrace mobile payments within the next 24 months

According to the survey, more than two thirds of European and Middle Eastern retailers have plans to invest in mobile payments technology within the next 18 to 24 months. These retailers are citing real-time clearing and settlement capabilities and the growing popularity of loyalty programs as the reasons behind these investments. QR codes, in particular, have shown great appeal to retailers that want to engage consumers in an effective manner, as these codes have become quite powerful mobile payments tools.

Security concerns are slowing the adoption of mobile payments in the retail industry

Mobile Payments - World NewsThe survey suggests that unfounded security fears have slowed the adoption of mobile payments among retailers. Many companies are concerned with their ability to keep consumers information secure when using a mobile payments platform. Notably, however, a relatively small number of retailers have fallen prey to cyber attacks focused on the mobile sector. The survey suggests that retailers are more comfortable with relying on older, less secure payment platforms that have proven to have security issues in the past.

Retailers believe that consumers want more payment options

The survey shows that 93% of retailers believe that consumers want more options when it comes to paying for products. As such, mobile payments are becoming a more prominent focus for many companies. One of the challenges of embracing mobile payments, however, is the relatively high investment needed to purchase mobile point-of-sale systems and other mobile-centric platforms.

ING shows support for Apple’s mobile payments service

| January 6, 2015

ING is preparing to embrace Apple Pay if it is launched in Europe in the near future

Dutch bank ING has begun showing support for Apple Pay. The new mobile payments platform from Apple has yet to launch beyond the United States, but ING is already showing support for payments made from Apple devices. Apple has seen significant promise in the mobile payments space and has responded to the increasing demand for payment services by offering its own. In the few months since Apple Pay’s release, it has become a prominent competitor in the new commerce space.

Apple Pay has yet to become a mainstream success among consumers in the US

Apple Pay launched with the support of thousands of retail organizations and the support of some of the largest financial institutions in the world. Despite this strong support, the platform has yet to become a mainstream success, but it one of the very few mobile payments services that is available for iOS devices. The success of Apple Pay has been growing slowly over the past few months, which may have slowed Apple’s plans to release the service in other countries.

Rumors suggest that Apple Pay may expand into Europe, the Middle East, India, and Africa

ING - Mobile PaymentsThere are rumors that suggest that Apple is preparing to launch Apple Pay in the United Kingdom. Other speculation suggests that Apple is preparing to launch its payment service in the Middle East, India, and Africa as well. The company has not yet announced any definitive plans for doing so, but growing demand for mobile payment services could draw Apple to other countries. In preparation for this potential expansion, banks like ING are beginning to show support for the payment service.

Some banks express concerns about Apple Pay’s security

While many banks have begun to show interest in supporting Apple Pay, others in the United Kingdom have expressed concerns over the security of the platform. Mobile commerce has begun to attract the attention of malicious groups that seek to exploit consumer financial information, and relatively few platforms have the security measures in place to protect this information.