All Articles Tagged With "Mobile Payments"

Italy's Digital Divide: Cash versus Cards in a Land of Tradition

In Italy, the usage of payment cards has historically been lower than in other European countries, with cash continuing to be the preferred payment method among consumers, influenced by several cultural factors. However, payment card usage has increased- from 13% of the total consumer transaction volumes in 2019 to 26% in 2022. Elisabetta Nadal (Business Analyst, London) reviews the dynamic changes in payment acceptance trends in Italy within the broader context of the evolving payment landscape in Europe.

by Elisabetta Nadal | Feb 01, 2024

5 mins read

The Growing Influence of BigTech Companies in Payments and Financial Services

Tue To (Manager, San Francisco) dives into the ways in which BigTech giants are reshaping finance, blurring boundaries, and disrupting traditional banking with innovation and embedded financial services.

by Tue To | Oct 03, 2023

5 mins read

The return of the Chinese consumers to Europe

Pre-pandemic, merchants in Europe were falling over themselves to accept Chinese payment methods both in store and online. According to the World Tourism Organization (UNWTO), there were 141 million Chinese visits to Europe in 2019. Also, according to UNWTO, Chinese tourists spent an average of €1,919 per day in Europe in 2019, which is significantly higher than the average spending of other nationalities. The affluence of the Chinese middle class continues to grow rapidly, meaning the segment has more disposable income to spend on travel. In 2022 we only saw 25 million Chinese visits to Europe, representing a 44% compound decrease in visitor numbers between 2019 and 2022. As more global travel restrictions are relaxed, Mark Beresford (Director, London) has looked at the importance of accepting Chinese payment methods for merchants across Europe.

by Mark Beresford | Sep 05, 2023

9 mins read

Rest In Peace Paym

Last month, the UK saw the closure of an innovative mobile payment method. Paym, the mobile payments service, that was born in 2014 and was finally laid to rest on 7th March 2023. Pay.UK announced that Paym would be closed permanently. Mark Beresford (Director, London) has looked at why Paym didn’t quite make its 10th birthday.

by Mark Beresford | Apr 03, 2023

3 mins read

It is time to re-look at SoftPOS to overcome traditional POS pain points

A long-awaited innovation in SoftPOS is expected to be launched in 2023. The retail and hospitality industries can finally let go from the constraints of traditional POS devices and make a massive leap forward into the 21st century. There has been the advancement of software-based POS security, namely, the Mobile Payments on Commercial off-the-shelf (MPoC) standard, which builds upon and learns from the Software-Based PIN on COTS (SPoC) and the Contactless Payments on COTS (CPoC) standards. MPoC enables contactless payment (NFC) acceptance and PIN cardholder verification methods to support further development of mobile payments infrastructure. The first MPoC certified solutions are expected to be seen on the market in Q2 2023. Expectations are high, and Mark Beresford (Director, London) has looked at how SoftPOS can help solve the six main pain points that many retailers experience with traditional POS.

by Mark Beresford | Mar 01, 2023

10 mins read

Is the Future of the Super App and the Super Wallet the Same Proposition?

The Chinese leapfrogged from telephones to smartphones, which has allowed the local dominant internet companies to develop super apps that have not been seen in the West.

by Mark Beresford | Sep 01, 2022

8 mins read

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