The Payments News You Need: November 2015

It’s time to round up the biggest stories in the payments industry—the top scoops and developing trends that stand to change this space and herald innovation. In this edition, we’re recapping November 2015. Let’s dive in!   
 

Mobile Payments

“Pay With Amazon” is Expanding: The online retail giant isn’t letting its rocky payments past get in the way of its future. Now, Amazon users can use the credit card information already in their accounts to complete purchases on third-party apps. The company is also growing its number of online payment buttons. Not sticking around, however, is its card reader, Amazon Register.
 
LG Pay Arrives in South Korea: The smartphone manufacturer is the latest entrant in the mobile payments space. While there’s no word on a United States arrival date just yet, if the rollout of LG’s smartwatch is any indication, this new way to pay could be heading stateside next year.
 

Peer-to-Peer Payments

Apple is Thinking Beyond the Register: A big player is considering entering the P2P game. Apple is currently talking to United States banks to work out the details of a service that would rival popular platforms like Venmo
 
Samsung Explores P2P: After launching Samsung Pay earlier this year, the company is now looking to its phones’ NFC chips to enable money transfers between users. The idea is in its early stages, with a patent application submitted to make the necessary technology a reality.
 
Mobile Messaging Trends Lead to Peer-to-Peer Payments Moves: A study from eMarketer predicts that 1.4 billion people around the world will have used messaging apps on their phones to communicate this year. Facebook is just one of the companies capitalizing on an opportunity to bring payments into the conversation using its well-known Messenger service.
 

Bitcoin

Some Companies Moving Away From Bitcoin: With lower-than-expected adoption numbers, several companies are changing their path, instead focusing on the blockchain, the technology that powers bitcoin and helps make other areas of the payment space easier and more secure.
 
Meanwhile, a Bitcoin Debit Card Debuted: Coinbase and Shift Payments teamed up on a Visa debit card that makes paying in-store using bitcoin funds easier. The card costs $10 to receive and the conversion from bitcoin to US dollars is fee-free.  
 

Security

Study Finds Companies Expect Employee Security Threats: When Clearswift polled, 500 IT professionals and 4,000 employees, the results indicated that 40 percent anticipated an employee would compromise their data security. Three-quarters of those surveyed also admitted they weren’t completely aware of their companies’ policies on keeping data secure. Beyond this, half said they prioritize completing their work over adhering to policies put in place to protect company data.
 

Omnichannel and Loyalty

MasterCard Ups Its Loyalty Offerings: The credit card company is empowering mobile apps to make loyalty easier for shoppers. Thanks to the new integration, cardholders can use the loyalty card of their choice, along with any offers available, when they make a contactless payment, side-stepping the need to search for physical cards or manage multiple mobile loyalty apps.
 
Macy’s Hopes A Bigger Omnichannel Investment Will Be the Answer: With its third-quarter numbers being lower than expected, the retailer is kicking its digital strategy up a notch. No stranger to using beacons, accepting mobile payments and even experimenting with image recognition, the company is now looking for new ways to make the experience even more convenient for shoppers.
 
Walmart Reports Omnichannel Success: With features like device-specific shopping experiences aiming to give customers what they want, when they want it, the company is now focusing on improving its mobile offerings. Among them is an alert system for in-store pickup and in-store and at-home mobile wishlist building.
 
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