Author: Stephen

New mobile payments app launches in New Zealand

| April 2, 2015

Semble has officially launched in New Zealand

New Zealand’s first integrated mobile wallet has been released. Smartphone users throughout the country can now download the Semble application for free, which allows them to make secure mobile payments. The application also acts as a digital wallet, storing data from retailers and financial information. Semble is an independent company, but is owned by Paymark, 2degrees, Vodafone, and Spark. The company was formerly known as TSM NZ, but was renamed for greater market impact.

Semble makes use of NFC technology to process mobile payments at physical stores

The Semble app leverages NFC technology in order to conduct mobile payments. This technology is quite common in the mobile commerce space, where it is used by a wide variety of platforms that process mobile transactions. NFC technology allows digital information to be transmitted over short distances, making it a perfect tool for contactless payments. Using this technology, Semble can be used to make a mobile payment at retail stores that support NFC-based transactions.

Consumer financial information is safely stored in Semble as a digital representation of itself

Mobile Payments app - New ZealandSemble stores financial information from bank and credit cards. Virtual versions of payment cards are stored within the application in a process that is similar to tokenization. Semble believes that its application will one day replace debit and credit cards. This may eventually become true, as more consumers opt to shop from their mobile devices rather than visit physical stores. A growing number of consumers are also demanding in-store support for mobile payments, which is reducing the use of credit cards and other forms of conventional commerce.

Mobile commerce is expected to continue growing in New Zealand, with more retailers showing their support

Those living in New Zealand have had relatively few options when it comes to participating in mobile commerce. The growing interest in mobile payments has made the country a relatively active market for companies that provide mobile commerce services. In the coming years, mobile commerce is expected to become more active in New Zealand, especially as more retailers opt to support mobile payments.

Mobile payments continue to thrive in the US

| March 31, 2015

Federal Reserve takes note of the growing prominence of mobile payments throughout the country

Mobile payments are catching on in the United States. According to information from the Federal Reserve, more people are using their smartphones to manages their funds than ever before. Doing so represents a convenient way to conduct commerce, as mobile devices can be used anywhere and at any time. The Federal Reserve has made note of a spike in mobile banking from 2013, with more people opting to manage their bank accounts online from a smartphone or tablet.

Smartphone users are showing favor for mobile banking and mobile commerce in general

According to the Federal Reserve, 39% of smartphone owners are actively using a mobile banking application, an increase from the 33% of consumers that did so in 2013. The agency has also made note of an increase in mobile payments in 2014. The agency’s information shows that 22% of smartphone owners made a mobile payment in 2014, up from the 17% of mobile consumers that did so in 2013. Notably, the vast majority of those that did make a mobile payment did so by using QR codes, which have become a very powerful mobile commerce tool.

Banks are seeing more mobile activity thanks to new payment services that have been launched recently

Mobile Payments Thriving in USABanks in the United States expect mobile banking and payments to gain popularity. One of the reasons more consumers are showing interest in mobile payments has to do with the launch of new services, such as Apple Pay. Most of the country’s major banks signed up to support Apple Pay when it launched in October of 2014, and many have seen an increase in mobile payments activity since then. According to Apple, $2 of every $3 spent across Visa, MasterCard, and American Express networks is being made through Apple Pay.

Better security features are making consumers more comfortable with the concept of mobile payments

Mobile payments are expected to continue gaining traction throughout the United States. Consumers are becoming less wary of mobile commerce as services become more secure and capable of protecting their financial information.