Tag: mobile payments

The recent announcement that these two giants were partnering together has also revealed a plan for transactions.

Verifone recently revealed that it was entering into a deal with Barclays that would have the two companies working together, and now it has stated that it will be integrating with Pingit, the British banking giant’s mobile payments technology.

This would bring the smartphone payments service to retailers that use Verifone’s transaction services.

This means that it will bring mobile payments together for Pingit’s 20,000 clients and add on the 70,000 businesses in the U.K. who are already Verifone transaction service customers. This could potentially be a stepping stone for the companies that could take the services more broadly throughout Europe. According to June Felix, the president of Verifone Europe, “What prompted the partnership, was a focus on Verifone’s part to help our retailer clients to enable commerce through every channel possible, whether it’s mobile, terminal or Web.”

The partnership sets the stage for a broad scale expansion of mobile payments that could occur quite quickly.

Felix explained that Barclays is “very innovative and very well-established player in terms of consumer payment,” when taking into consideration its solid position in the United Kingdom, which is already among the largest European markets. She also pointed out that Pingit provides a “unique value proposition.”

By partnering with Barclays for its smartphone payments transactions to add the option to the Verifone physical countertop terminals, it makes it possible for Verifone to step outside its previous confines of those terminals into mobile shopping areas. This is an angle that it has never before been able to take.

It also remains a type of transaction of which many consumers remain completely unaware. With large names such as these, there is the potential to change that in the United Kingdom, so that consumers will learn about the technology and choose whether or not they want to use it.

Verifone isn’t without its experience in mobile payments, as – according to Felix – the company was “very involved” in the entry of Apple Pay into the United Kingdom’s marketplace. “The partnership with Pingit is really very consistent with that,” she said.

Companies have invested in India’s leading mobile commerce organization, Paytm

Alibaba and its affiliate Ant Financial Services have made an investment in Paytm, a prominent mobile commerce company based in India. The two companies have invested $680 million in Paytm, which will provide the firm with the financial support it needs to continue expanding its services in India. Alibaba continues to show strong interest in mobile commerce in other countries and has become one of the major competitors in the mobile payments market in Asia.

Investments will help Paytm expand its services in order to better engage consumers

The investment will help Paytm scale up and continue developing is mobile commerce ecosystem. Some of the funds will go toward marketing the company’s services, developing new payment technologies, and hiring additional staff. Earlier this year, Paytm also received an investment from Alipay, which is Alibaba’s mobile commerce unit operated by Ant Financial Services. The amount invested by Alipay was undisclosed, but provided significant support to Paytm.

India is becoming a very attractive mobile commerce market

Daniel Zhang, CEO of Alibaba, notes that India has become a very promising mobile commerce market. E-commerce has thrived in the country and more consumers are beginning to use their smartphones in order to shop online. Smartphone adoption has accelerated, which has furthered the exposure of consumers to the concept of mobile commerce, which many have fallen in love with. Shopping with a mobile device often represents a more convenient way for consumers to get their shopping done, especially for those that have long commutes.

Companies are showing strong interest in India’s mobile market

Several foreign companies have begun showing interest in India’s mobile commerce space. These companies are showing support for various mobile payments firms in the country, which is increasing the competition in the market. With increases competition, firms are beginning to feel pressure to provide better mobile commerce services to consumers. They are also seeking to form better partnerships with financial service firms in India and banks that have also taken an interest in the mobile space.