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February 04, 2013

Study Highlights Digital Wallet Market Potential, Current Adoption Barriers

Survey graphic 140pxcomScore has released a new report entitled, "Digital Wallet Road Map 2013" which measures consumer awareness, perceptions and intent to use current digital wallet offerings.

"Digital wallets represent an innovative technology that has not yet reached critical mass among consumers due to a variety of factors, including low awareness and a muddied understanding of their benefits," said Andrea Jacobs , comScore Payments Practice Leader. "This study delves deeply into the mindset of consumers with respect to their potential use of digital wallets, in addition to helping size the market opportunity."

The study is based on comScore's opt-in panel of 1 million U.S. consumers and two separate surveys of more than 2,000 U.S. Internet users conducted in November 2012.

Visa Expands U.S. EMV Roadmap to Include ATM, Common Debit Solution

Visa logo 60pxhVisa announced its support for a common U.S. debit solution and an expansion of Visa's previously announced roadmap for EMV chip card adoption in the United States to include a migration path for ATM transactions.

"To help facilitate chip adoption and issuer compliance with U.S. debit regulations, Visa plans to provide some of its proprietary EMV chip technology to the industry. This approach will simplify EMV chip implementation for debit, reduce migration costs and increase flexibility for card issuers, acquirer processors and merchants."

Braintree and Venmo Launch One Touch Payments for Mobile Apps

Braintree logo 140pxBraintree has introduced Venmo Touch, a service that enables one touch payments across multiple applications.

“Filling out forms and entering payment information on a mobile device is a real hassle for users,” said Bill Ready, CEO of Braintree. “Each time a user downloads a new app, the user needs to re-enter payment information, creating frustration for users and a huge obstacle in the user sign-up process for apps. Venmo Touch lets you store payment information once and then use it across multiple apps without requiring users to sign-up or download a separate app. This makes the payment and sign-up process much easier.”

Cumberland Farms Launches SmartPay Check-Link

Cumberland farms logo 140x60px Cumberland Farms, a leading convenience and gasoline retailer, announced the launch of its SmartPay Check-Link payment program that lets consumers pay for gas and in-store purchases using their mobile phone or with a swipe of a card.

SmartPay Check-Link is an upgrade from the first release of SmartPay, which was launched in April 2012 in partnership with PayPal. While the first release offered PayPal as the only payment option, SmartPay Check-Link is a new feature to the SmartPay program, and offers consumers the ability to debit their checking account as a second payment option. Additionally, Smart-Pay Check-Link is available in both mobile and payment card format.

SmartPay Check-Link users will automatically save 10 cents on every gallon of gas.

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