Tag: visa

New mobile payments service emerges in Taiwan

| January 5, 2015

Country’s largest mobile payment company has launched

A new competitor has emerged in the mobile commerce space. Taiwan Mobile Payment Co., which is now Taiwan’s largest mobile commerce platform, has officially launched with the support of 32 of the country’s major financial institutions. The platform supports NFC-based mobile payments, allowing consumers with smartphones and tablets to make payments in physical stores that have NFC-enabled point-of-sale systems installed. The new platform may be welcome among consumers that have been looking for a new mobile payment service for some time.

New platform will leverage NFC technology to process payments and has strong support from Taiwan’s financial institutions

The mobile payments being made through the new platform will be processed through Taiwan Mobile Payment’s trusted service manager. This system will secure the financial information being used by the platform to authenticate payments. The platform will also support payments made through Visa and MasterCard and can be used to make purchases at more than 30,000 stores throughout the country. The platform also has strong support from various financial institutions, making it more accessible to a wide range of consumers.

Taiwan continues to grow as a prominent mobile commerce market

nfc mobile paymentsTaiwan is quickly becoming a very prominent mobile commerce market. Two other services have already emerged in the country, but consumers have been demanding a larger, more capable service for some time. Currently, Taiwan Mobile Payment is the largest mobile payment service provider in Taiwan and has been accredited by both Visa and MasterCard.

New service relies on NFC technology in order to facilitate mobile transactions made from devices equipped with NFC chips

The new mobile commerce platform is expected to work with 20 different smartphone models, most of which are Android devices. These devices are equipped with NFC technology, allowing them to interface with payment platforms that also use this technology. NFC currently makes up much of the backbone of the mobile commerce world. Some payment services have opted to avoid using NFC technology to make their platforms more accessible to those that do not have NFC-enabled mobile devices.

Samsung may break into mobile payments

| December 19, 2014

Samsung reportedly in negotiations with mobile commerce firm LoopPay

Google and Apple may soon have strong competition in the mobile commerce field. South Korean electronics company Samsung is reportedly in negotiations with LoopPay, a mobile payments firm based in the United States. While the two companies have not yet officially announced plans to work together, Samsung has been showing strong interest in the mobile commerce space recently. The company sees a great deal of promise in mobile payments and could begin entering into the market within the next few years.

Android devices continues to help mobile commerce grow

Mobile commerce has thrives on the Android platform over the past year. Approximately 83% of the smartphones shipped during the last quarter are powered by the Android operating system, and many of these devices come equipped with mobile payment applications, such as Google Wallet. The Wallet platform has yet to find success among consumers, which has led many to use a wide variety of payment applications. Samsung could capitalize on this by offering a new payment service that would also come pre-installed on Android devices.

Samsung is no stranger to mobile payments

samsung - mobile paymentsThough Samsung has not made an official entry into the mobile commerce market with its own payment service, the company is no stranger to the market itself. In 2012, Samsung partnered with Visa to released a special version of the Galaxy S3 smartphone, which supported Visa’s payWave technology. Last year, the companies expanded this partnership, bringing payWave supporting devices to 40 European countries. Rumors suggest that Samsung has also begun working with PayPal to support mobile payments on wearable devices.

Apple may find a strong competitor in Samsung

If Samsung decides to enter into the mobile commerce market, it may become Apple’s most significant competition. Apple released its own mobile payments service earlier this year, which has won praise among retail organizations and consumers alike. The service is only available for one iOS device, however, which has limited its appeal to some consumers. A platform developed by Samsung would likely be available for numerous Android devices, many of which Samsung has developed itself.