Tag: Apple Pay

Mobile payments may accelerate in Europe with the launch of Apple Pay

| April 14, 2015

Apple Pay may provide more momentum to the European payments sector

Mobile payments are likely to gain momentum with the inevitable expansion of Apple Pay. Though Apple has not yet brought its new mobile payments service to markets outside of the United States, the early success of the service makes it likely that expansion is in the future. Europe is one of the most attractive mobile markets in the world, with high smartphone penetration and an expansive mobile Internet infrastructure. Consumers in many European countries are using their devices to purchase products.

Report suggests that companies are taking steps to prepare for Apple Pay

In preparation for Apple Pay’s potential expansion to Europe, many companies are beginning to improve their own mobile services. A new report from IHS Technology notes that these companies are becoming more mobile-centric, hoping to position themselves so they can benefit from the launch of Apple Pay and other mobile payments services. Visa is one such company, which is expanding tokenization throughout Europe. This involves the use of digital tokens to replace financial information, making mobile transactions significantly more secure.

European consumers may show favor for Apple Pay

Europe Mobile Payments - Apple PayApple has the potential to cause some disruption in Europe’s mobile market. There are several mobile payments solutions available to consumers throughout Europe, but Apple Pay has managed to generate a great deal of hype before even launching in this region. If the service does come to Europe, consumers are likely to abandon the mobile payments solutions they currently use in order to use Apple Pay, at least for a time. Retailers may also opt to use Apple Pay as a way to support mobile transactions.

Apple will face competition in the mobile payments space

Competition is likely to be fierce for Apple and the company is not likely to dominate the mobile payments field without a fight. Samsung recently announced that it will be launching its own mobile payments service in the near future, which will appeal to those with Android devices. Apple’s service is only available for iOS devices, and of those only the iPhone 6 and iPhone 6 Plus can make use of the service at this time.

Mobile payments company nTrust aims to dominate the Canadian market

| April 13, 2015

Lack of Apple Pay leads to new opportunities in Canada’s mobile payments space

Apple Pay has generated a great deal of interest in mobile payments, but it is not yet available outside of the United States. In Canada, the demand for mobile payment service is on the rise, and nTrust is willing to accommodate this demand and capitalize on the absence of Apple Pay in the country. The company intends to provide consumers with more than a mobile wallet platform, however, as its service will be considered an “all inclusive shop” where funds are transferred through a closed loop ecosystem.

Mobile wallets are becoming more important to consumers

Mobile wallets are quite useful to consumers, as they can store a wide range of information, such as financial details and information from retailers. These platforms can also facilitate mobile payments, which have become more popular with consumers that are relying more heavily on their smartphones. The service that nTrust aims to provide will allow users to create virtual representations of t heir payment cards in a process that is similar to tokenization, allowing them to make secure transactions.

20 new merchants sign up with ntrust

Mobile Payments - Canadian MarketThe company recently added 20 new merchants to its service, which will accept mobile transactions from those using the platform. These organizations have shown more interest in mobile payments as it represents a way to engage consumers in a more dynamic fashion. It is also seen as more convenient than conventional payment solutions, as consumers only need to use their smartphones to make a purchase rather than swiping a payment card or handling cash.

Secure mobile payment platform could be a success among Canadian consumers

The mobile payments market is quite crowded, with plenty of competition to go around. If nTrust wants to compete in this sector, it will have to find ways to convince consumers that it offers a secure and highly efficient experience. This experience must also be enjoyable for consumers, as lack of enjoyment with mobile payments platforms has lead to many services being abandoned by those that had used them in the past.