September 21 – A new study from Juniper Research has found that the global value of contactless POS (point of sale) terminal transactions, conducted in-store via cards, mobile and wearables, will approach $500 billion annually by 2017; this is up from an estimated $321 billion this year.
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June 3 – Jack Henry & Associates’ JHA Payment Solutions group has announced the availability of expanded iPay Consumer Bill Pay features and functionality, powered by Inlet.
June 2 – Venture funding in the U.S. fintech sector increased 70 percent during Q1’16 from Q4’15, to $1.7 billion after experiencing a slowdown in the last two quarters, according to Pulse of Fintech, the quarterly global report on fintech VC trends published jointly by KPMG International and CB Insights.
May 11 – iovation, the provider of device intelligence for authentication and fraud prevention, today announced the immediate availability of a report it and research and advisory firm Aite Group developed entitled “EMV: Issuance Trajectory and Impact on Account Takeover and CNP.” The report calculated that card-not-present fraud — fraudulent transactions where a credit card is not physically presented to a merchant — will cost retailers and financial institutions $7.2 Billion in the United States by the end of 2020. The report also found that account takeover losses for financial institutions — when a fraudster poses as a genuine customer, gains control of an account and then makes unauthorized transactions — will increase from $644 million in 2015 to more than $1 billion by 2020 in the U.S.
March 10 -Bill.com has announced the Bill.com Network, the first business payments network to help companies pay and get paid in a fast, simple and secure way. Bill.com introduces the Network as the company reaches critical mass, surpassing the 1 million member mark and $25 billion in annual transactions. Through the Network, Bill.com connects businesses and banks in the cloud, enabling faster and lower-cost payments and improved collaboration to bring digital business payments into the 21st century.
December 4 – More than 1.1 billion financial services customers are expected to be using mobile biometrics by 2020, according to Goode Intelligence, a leading research and consultancy organization for the biometric and financial services industry. (more…)
October 13 – New research from leading analysts, Juniper Research, finds that more than 1 billion mobile phone users will have used their devices for banking purposes by the end of this year. This global user base is forecast to reach 2 billion by 2020, by which time it will represent 37% of the global adult population.
August 31 – The majority of American consumers has started paying bills online within the last five years, according to a new survey by American Consumer Credit Counseling. Nearly 95 percent of those polled in the month of July by ACCC admitted that they pay at least one bill through their computer or mobile device. Nearly 55 percent of those polled said they started paying online within the last five years.
August 24 – New data from Juniper Research has revealed that the number of annual purchases made via mobiles, tablets, desktops and other connected devices should reach 125 billion annually by 2018, up by more than 60% on this year’s total.
August 7 – Just over 2.1 billion EMV cards were issued worldwide in 2014, up 27.5% from 2014. The exponential year-on-year (YoY) growth rate was driven by significant EMV issuance into the United States and China. EMV card issuance in the United States in 2014 was up 187 million units when compared to 2013 and China continued its steep EMV issuance path deploying approximately 685 million cards in the same year. If China and the United States were excluded from the forecast analysis, 2014 global YoY shipment growth would have totaled a mere 6.6%, highlighting the important impact these two nations are having on the global scene.