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.
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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.
July 28 – New data from Juniper Research has revealed that the number of IoT (Internet of Things) connected devices will number 38.5 billion in 2020, up from 13.4 billion in 2015: a rise of over 285 percent.
July 27 – A survey conducted by Inlet, a new technology platform that enables companies to securely deliver digital documents across multiple online consumer destinations, found that many millennials aren’t looking at their bills before they pay them, and the majority don’t have an organized system to pay their bills, creating an opportunity for bill providers to engage this coveted age group early in their adult lives. (more…)
July 2 – Retail banks (including thrifts and credit unions) in the U.S. will spend nearly $16.6 billion on hardware, software, services, and internal IT staff in order to develop and implement digital transformation initiatives in 2015. And this spending on digital transformation will grow at a compound annual growth rate (CAGR) of 10.4% into 2019, according to recent IDC Financial Insights spending models.
By Toni Lapp
June 24 – The time has come to feature an American woman on U.S. currency, said Treasury Secretary Jack Lew in announcing a proposal to redesign a new $10 bill for 2020 to celebrate the 100th anniversary of the right of women to vote. (more…)
June 5 – The date October 1, 2015 looms as a deadline for U.S. retailers to conform to the new EMV card payment mandate being pushed by the credit card brands; if retailers are not compliant by that date, then liability for fraudulent card transactions shifts from the banks to the retailers. According to new research from IHL Group, most retailers will never recoup the expense that EMV imposes, and the study says there is a much better approach to protecting retailers and consumers.