Wonga challenges credit cards with online retailer loans

UK payday loan lender Wonga has recently rolled out Wonga Paylater, a retail loan service for online shopping that allows consumers to repay purchases in three installments, with a 7% charge upfront. The move shifts the company from its payday loan space into the wider payments arena. While still growing, public pressure on Wonga's business model may be driving it to seek new growth platforms.

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Wholesale payments processing: European IT spend tops $1 billion

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Wendy's move highlights mobile wallet challenges

Wendy's is entering the US mobile payments market, launching a pilot program introducing POS payment functionality to its existing MyWendy's mobile app in three US cities. Retailer mobile wallet apps undoubtedly have the potential for success, but their focus on customer loyalty makes mobile wallets less payment tools and more marketing devices.

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Wells Fargo: not a chip off the old block

While US issuers and merchants continue to rely primarily on magnetic strip technology, a growing number of countries are using EMV verification. The argument that chip and PIN reduces fraud has had little impact in the US, due to concerns about the cost of the transition. However, US citizens travelling abroad, rather than fraud concerns, will be the catalyst for widespread rollout of EMV.

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Walmart's new "Pay with Cash" option offers online shopping to a wider audience

Walmart's "Pay with Cash" option for online purchases dispels the widely held view that e-commerce and banking are intertwined. By side-stepping the need for a bank account or a credit card, the major retailer is looking to expand its online US customer base to individuals who are unbanked, under-banked, or who simply prefer to conduct transactions using cash.

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Walmart is now a serious competitor to US banks and issuers

Walmart and American Express recently announced the launch of Bluebird, a packaged prepaid card and account service designed for low income consumers. Unlike other prepaid card accounts, the service has minimal fees and can be used for a range of traditional banking services.

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VocaLink seeks opportunities for international expansion

In order to diversify its revenues and reduce its dependence on its home market, UK payment transaction provider VocaLink is looking to expand internationally. As a major player in the UK's Faster Payments Service initiative, it is logical that VocaLink should seek to leverage its know-how as and when other EU countries move in this direction.

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Visa: new initiative will raise awareness of contactless payments among London consumers

Visa is carrying out the targeted launch of a new type of card terminal, one that will be connected to taxi meters. The scheme has the support of Transport for London, which already utilizes the contactless Oyster electronic ticketing system on much of the public transport services across the region. The initiative should raise the profile of the contactless payment method.

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Visa: investment in Monitise a major boost for mobile payments

Visa and mobile banking player Monitise have announced a five year strategic partnership that also sees Visa take a 14.4% stake in the company. A clear statement of intent on its plans in mobile payments, Visa will market a range of ready-to-go mobile products to its banks. However significant for the two companies, this is even more significant for the development of mobile payments as a whole.

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Visa-Samsung deal is NFC's silver lining

Visa's new deal with Samsung is a major leap forward for NFC and its future within payments. While NFC still faces a considerable number of challenges, the sheer size and scale of the new payWave rollout initiative, in addition to Visa and Samsung's global brand presence, will likely give the technology the boost it needs to see a rise in consumer adoption rates.

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