PAYMENT

  • Apple Pay to debut in Canada this November 1 week ago

    Bengaluru: Apple Inc is planning to launch its electronic payments service in Canada in November, the first international expansion of Apple Pay, the Wall Street Journal reported, citing people familiar with the matter. The iPhone maker is in talks with Canada's six biggest banks, Royal Bank of Canada, Toronto-Dominion Bank,...
  • US CEO takes 90 per cent pay cut to give workers huge raise April 15, 2015

    Los Angeles: A CEO of an American firm has surprised one and all by announcing a 90 per cent pay cut for himself and slashing of company's profits to give employees a hefty salary hike after he read a study about happiness. The boss of a technology start-up in Seattle shocked...
  • PayPal, eBay to stay interdependent for five years after split April 10, 2015

    Bengaluru: PayPal, eBay's electronic payments division, said the two firms had agreed that eBay would not reduce the volume of transactions it channels through PayPal, while continuing to get better rates for its merchants for five years after the two split. PayPal is slated to be separated from eBay's marketplace division...
  • Microsoft is getting closer to having its own competitor to Apple Pay April 7, 2015

    New Delhi: After Google Wallet and Apple Pay you will soon have the option of Microsoft Pay. The software giant has received approval for its payments transfer service from one state in the US, a stepping stone to the company's wider ambition of providing the service throughout. Business analyst, Faizal Khan,...
  • Judge rejects Google's request to dismiss privacy lawsuit over Google Wallet April 3, 2015

    A US federal judge has rejected Google's request to dismiss a lawsuit accusing the technology company of invading the privacy of users of its Google Wallet electronic payment service by sharing their personal information with outside app developers. In a decision on Wednesday night, US District Judge Beth Labson Freeman in...
  • Google's experimental Pony Express service could let you pay bills directly within Gmail March 25, 2015

    New Delhi: Google is experimenting with a feature that will let its Gmail users receive and pay their bills within their email accounts. The service, dubbed Pony Express, has been designed to allow Gmail users to pay bills within Gmail without having to go to a telecom or utility company's...
  • Now, send money to your friends through Facebook Messenger March 18, 2015

    Bengaluru: Facebook said it is adding a new feature to its messaging app that allows friends to send and receive money through it. Users can tap or click a dollar icon in a new chat window to send money to their friends, after they link a Visa or MasterCard debit card...
  • Apple Pay hit by fraudulent transactions using stolen credit-card data from retailers: Report March 6, 2015

    Bengaluru: Apple's mobile payment system Apple Pay has been hit by a wave of fraudulent transactions using stolen credit-card data from a spate of breaches at retailers, the Wall Street Journal reported, citing people familiar with the matter. The transactions stemmed from breaches at retail giants including Home Depot and Target...
  • Alibaba's online payment firm Ant Financial looking at a domestic IPO in 2017: Report February 27, 2015

    Shanghai: Ant Financial Services Group, Alibaba's affiliate which runs online payment platform Alipay, is seeking to raise up to $4 billion in a private placement of shares and is looking at a domestic IPO in 2017, the state-run Shanghai Securities News reported. Alipay, China's most widely used online payment platform, is...
  • Samsung buys mobile wallet startup LoopPay, looks to challenge Apple Pay February 19, 2015

    Bengaluru: Samsung has bought US mobile wallet startup LoopPay, signaling its intention to launch a smartphone payments service to compete with a recent offering from rival Apple. Mobile payments have been slow to catch on in the United States and elsewhere, despite strong backing. Apple, Google, and eBay's PayPal have all...
  • Paypal's retail chief quits ahead of eBay split February 5, 2015

    San Francisco: Paypal executive Don Kingsborough, who helped orchestrate the payments company's move into physical retail stores, stepped down in January, the company said on Wednesday. His departure, which tech blog Re/code first reported, comes as the company competes with the likes of fast-growing start-up Square to get its payments system...
  • Google in talks to buy mobile-payments company Softcard: Report January 17, 2015

    Bengaluru: Google is in talks to buy mobile-payments company Softcard, technology news website TechCrunch reported on Friday, citing people familiar with the matter. The deal could help pair Google with the largest US wireless carriers to battle Apple and its new Apple Pay service, TechCrunch wrote. The deal may be valued below...
  • Mobile payment firm LoopPay plans to enter India this year January 11, 2015

    Las Vegas: US based tech firm LoopPay is planning to enter the Indian market this year with its patented technology that facilitates payment by just placing mobile phones beside a normal card reader at retail stores. The company, founded in 2012 by payment industry experts, has developed a magnetic transmission based...
  • Apple Pay, Google Wallet, PayPal: Pros and cons of mobile payment systems November 12, 2014

    New York: Wireless? Bar codes? What's the best way to pay with your phone? Apple Pay, Google Wallet and a few other services use a wireless technology called near-field communication, or NFC. With Apple Pay, the phone unlocks automatically when you hold it near the NFC reader on the merchant's payment...
  • Oxigen: Creating a national payment ecosystem November 8, 2014

    Oxigen offers recharge services for the masses. The Oxigen wallet helps money transfer, recharges and bill payments. It at the same time creates a national payment ecosystem. Oxigen has been pioneering mobile payments for the last ten years. ...
  • Apple Pay fails to unify fragmented market November 2, 2014

    Washington: Apple Pay, meant to inject momentum into a fragmented market for the emerging mobile payments sector, has instead highlighted the squabbles between retailers and the banking and payments industry. Since Apple Pay made its debut October 20 for US customers with the iPhone 6, several major retailers have said they...
  • Alibaba's Jack Ma says open to working with Apple on mobile payments October 28, 2014

    Laguna Beach: Alibaba Group Holdings Ltd executive chairman Jack Ma said he's open to working with Apple on mobile payments, as China's richest person prepares to call on Hollywood this week in search of media partners. Alibaba affiliate Alipay is China's largest payments service, while Apple just this month debuted its...
  • Where all you can use Apple Pay October 22, 2014

    More than 2,00,000 payment locations in the US are equipped to accept so-called contactless payments, including Apple Pay. Smaller merchants tend to be among the several millions that don't have the required equipment yet. Apple said it has worked with several retailers to make sure most of their stores, if not...
  • Pay by phone or just keep using plastic? Here's everything you need to know October 2, 2014

    New York: PayPal, Apple and others are betting on billions in mobile payments. But so far, trying to use my phone to pay at restaurants and retailers has been frustrating. It's easier just to pull out my plastic credit card than to figure out which card works with which app and...
  • MasterCard aims to replace cash with e-payments September 25, 2014

    Singapore: Financial service provider MasterCard is focused on finding new ways to replace cash with electronic ways of paying using innovation, the company's CEO has said. "MasterCard is focused on finding ways for people to interact in simple, smart ways with the ecosystem to be able to replace cash with electronic...
  • Dos and don'ts: 5 ways to protect yourself from data breaches September 20, 2014

    New York: Data breaches at retailers aren't going away but there are ways consumers can protect themselves from future heists of their payment card information. Home Depot said Thursday that malicious software lurking in its checkout terminals between April and September affected 56 million debit and credit cards that customers swiped...
  • What Apple Pay is attempting now, the Japanese did that 10 years ago September 15, 2014

    Tokyo: Apple's proud announcement that its new iPhone could be used to buy goods in a single swipe left customers nonplussed in Japan, where mobile contactless payments have been normal fare for a decade. A type of Near Field Communication (NFC) chip, known in Japan as FeliCa, was introduced to the...
  • Will Apple Pay kill the card swipe? September 14, 2014

    New York: Apple wants the plastic credit card to become as rare as the paper cheque. On Tuesday, the company announced Apple Pay, a digital payment system that lets people pay for retail store purchases using their phones rather than cash or credit cards. The service, which will work both with...
  • Flipkart to shut down its payment gateway PayZippy August 31, 2014

    New Delhi: Indian online retailer Flipkart, reportedly, is closing down its payment gateway PayZippy, as it failed to perform the way the ecommerce giant had expected. The company had launched the product last year in July, under a separate firm Flipkart Payment Gateway Services (FPGS) Pvt Ltd, and started with...
  • London Underground train network set for contactless bank card payments July 28, 2014

    London: Travellers on the London Underground train network will be able to use nocontact bank cards at the gates to pay for their journeys from September, the transport group said on Friday. The contactless payment scheme will be launched on the Tube on September 16 following a successful trial of 3,000...
  • RBI issues draft guidelines for setting up small, payment banks July 17, 2014

    New Delhi: A week after Budget announcement, the Reserve Bank on Thursday issued draft guidelines for setting up of 'local feel' small banks, which will disburse smallticket loans to farmers and businesses. The central bank also issued draft guidelines for setting up of payment banks, which will cater to marginalised sections...
  • Visa launches new Visa Checkout service to make online payments simpler July 17, 2014

    New York: Payment processor Visa is launching a new service called Visa Checkout that eliminates a few steps in online payment. The company and its retailing partners, including Neiman Marcus, Pizza Hut, Staples and others, hope a quicker payout will lead to fewer abandoned shopping carts online. As more customers shop...
  • Gold swaps to cut imports, ease payment pressure July 4, 2014

    Mumbai: A plan by the Reserve Bank of India (RBI) to swap old gold in its vaults for purer metal abroad that it could pledge or sell would have the added benefits of reducing gold imports and easing pressure on the balance of payments. The RBI would sell relatively impure gold...
  • AP CM announces exgratia payments to heat wave victims June 15, 2014

    Hyderabad: With the heat wave claiming as many as 169 lives in Andhra Pardesh, Chief Minister N Chandrababu Naidu has decided to grant Rs 1 lakh exgratia to family members of victims, it was officially announced on Sunday. AP Deputy Chief Minister K E Krishnamurthy, who held a review meeting...
  • Amazon adds subscriptions to its payment service June 10, 2014

    New York: Amazon announced plans to extend its recently launched payments service for subscriptions at thirdparty services, stepping up its challenge to eBay's PayPal. An Amazon spokeswoman said the new feature allows people to use their Amazon accounts for automatic payments of fixed or variable amounts. "Automatic payments helps businesses that rely...