Friday, October 06, 2006

Today's Payments News

Mobile Contactless Payments - $36 Billion In Payments By 2011

Strategy Analytics has released “Mobile Contactless Payments –Growth on the Horizon,” analyzing payment for goods or services using phones instead of cash or credit/ debit cards. According to the company, "the report concludes that the conditions are finally right for growth over the next five years, projecting that mobile contactless payment will be used to drive sales of $36 billion by 2011."

Will Contactless Payment Cards Connect In The U.S.?

Bankrate's Gregory Taggart reports on the growth in contactless card usage in the US - highlighting Visa data showing that "contactless transactions are an average of 25 percent faster than cash" and claiming that the contactless roll-out in the US has been the fastest deployment of new payment technology ever.

UK: HSBC Rings In Mobile Banking

Richard Wray reports for The Guardian about HSBC's launch today of a new mobile banking service that will allow customers to "use their mobile phone to check their bank balance or help their friends or family pay for calls." According to Wray, "after downloading a simple piece of software to their phone, the bank's customers will be able to check their balance or find out if they have been paid, wherever they are."

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