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Payments Articles

Bump CEO Talks Future Plans

Mobile app maker Bump Technologies has raised a $16m series B round of funding, led by Andreessen Horowitz, and including investments from Sequoia and others. Netscape founder Marc Andreessen will also be joining their board along with Greg McAdoo from Sequoia.

Will You Be Paying Restaurant Checks with Google This Year?

Google may launch a mobile payments service as early as this year, according to a report from Bloomberg BusinessWeek. This would be based upon NFC (near field communication) technology, which lets mobile device exchange data at close ranges. 

Now You Can Deposit Checks Into PayPal With Your iPhone
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Update: As far as availability, PayPal tells us, "Mobile Check Capture is currently available in the US only. The underlying technology that makes this possible is based on legislation passed by US Congress in 2004 as a result of the 9/11 attacks. The legislation, called "Check Clearing for the 21st Century," or "Check 21," gives US financial institutions the opportunity to clear checks using imaging technology rather than transporting the paper itself.

Amazon Makes Checkout Easier On Third-Party Sites
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Amazon.com has introduced “Checkout by Amazon” (CBA) that allows people with accounts to make purchases on third-party sites using their Amazon account credentials without having to leave the merchant’s site.

Amazon says by streamlining the checkout process for customers that it reduces the potential for shopping car abandonment for merchants.

 

PayPal Adds Donation Feature to iPhone, iPad App

PayPal has launched an update to its mobile app for the iPhone, iPad, and iPod Touch. It now has a donation feature that lets users donate to over 23,000 charities in the U.S., UK. and Canada.

PayPal to Offer Micropayment Service
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PayPal may release a micropayment service before th year ends if reports are accurate. President Scott Thompson is said to have indicated as much.

The move would make too much sense not to come sooner or later, and sooner would no doubt be in PayPal’s best interest. Not only are social games among the biggest trends of the web, but news organizations are still experimenting with ways to drive revenues, and micropayments are not out of the question for some.

Major Mobile Carriers Teaming Up to Eliminate Credit Cards?
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Will the mobile phone replace the credit card? It sounds a bit like science fiction, but it appears that mobile carriers are trying to make it a reality.

Bloomberg reports that AT&T, Verizon, and T-Mobile USA are "planning a venture to displace credit and debit cards with smartphones". The companies would work with Discover Financial Services and Barclays Plc to test a system starting in Atlanta and three other unnamed U.S. cities.

Yahoo Partners With Offerpal Media
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The Yahoo Application Platform (or Y!AP, if you shorten it and embrace the company’s use of exclamation points) grew significantly more appealing today.  A deal between Yahoo and Offerpal Media ensures that developers and users will have more payment options.

Accept Payments from Your Laptop with Android Payment Extension for Google Checkout
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Google has a new Android Payment Extension for the Google Checkout Store Gadget. This allows people to make purchases with their phones, and would be helpful to merchants who wish to accept credit cards.

PayPal Partners with Major Nonprofit Donation Solution Provider
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PayPal announced an agreement with Convio, a provider of solutions for nonprofits to raise funds, to let Convio implement PayPal to collect donations online. PayPal says this will help boost donations for Convio’s 1,300 nonprofits and give them access to the 84 million active PayPal users across the globe.

PayPal Announces Some Pricing Changes
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Today, PayPal announced that it is making some changes to its user agreements and pricing. The changes are specifically related to refunds, chargebacks, and Amex payments.

PayPal senior director of SMB Merchant Services Eddie Davis outlines the following changes:

Is MasterCard Declaring War on PayPal?
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This week MasterCard announced a new developer initiative, which will place MasterCard payment technology in mobile and online apps.

"We are excited about tapping into the ingenuity of software developers around the globe to help create the next generation of game-changing payment applications," said Josh Peirez, Chief Innovation Officer, MasterCard Worldwide. "We feel this will unleash innovation within our industry especially in the burgeoning areas of e-commerce and mobile payments."

Will Square Power a Revolution in Credit Card Payments?
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We may be looking at a revolution in payments. Square, which launched late last year from Twitter co-founder Jack Dorsey, is now offering a way for anybody with the right mobile device to accept credit card payments for less hassle and fees than before possible.

PayPal: Demand for Electronic P2P Payments Growing Rapidly

A study released this week sponsored by FIS, PayPal and NACHA, found that demand for electronic P2P payments and transfers is growing rapidly, and that the interest of making these and other payment transactions through an ePayment Portal is also strong.

According to the study, of those who were interested in the Portal concept, 70% would be likely to use P2P payment services within that Portal.

Which Payment Platform Will Dominate Mobile?
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A recent study found that consumers are getting more comfortable with mobile shopping, and you best believe that will only continue, as people continue to spend more of their web time on their phones. So as everybody reaches for their mobile devices to make payments, which platforms are they going to use?

PayPal Launches Send Money App for BlackBerry Devices

PayPal has launched a new "Send Money" app for BlackBerry. It is now available for free via the BlackBerry App World.

"Have you ever gone to lunch with friends and forgotten your wallet, but remembered your BlackBerry? Well you longer have to be the friend who is constantly borrowing cash," says Eric Duprat from the PayPal Mobile team.

The app lets users quickly send money to people around the world – anyone in their contact list.

PayPal to Take Over Mobile and Social Apps
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PayPal has opened its global payments platform called PayPal X, providing new APIs, a new developer portal, and some introductory services pricing to help developers take advantage of PayPal X to build businesses.

"The whole world is going digital, and the future of how we communicate, how we get information, and even how we transact, is in the hands of developers," said PayPal President Scott Thompson. "The network is the platform on which the potential of digital money will be fully realized."

Google Reduces Restictions on Google Checkout

Google has made a change to its content restrictions for Google Checkout. Google Checkout now allows the sale of real estate rentals, timeshares, and day sight-seeing tours.

Google Affiliate Network Publishers Get Paid Through AdSense
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Google announced that Google Affiliate Network publisher payments will now be made through AdSense starting today. Google says this will offer publishers a wider range of payment options.

"Publishers can also manage their payment information in new ways and enjoy consolidated payments from Google if they use other Google products," says Product Manager Sheila Parker.

The primary user of a Google Affiliate Network publisher account will see an account notification asking them to create an AdSense account or link to an existing account.

Rumors Suggest Apple May Compete with PayPal
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Reports have "Wall Street Gossips" talking about Apple working on a "PayPal killer". This would be in the form of the iTunes store turning into a payment system.

There’s no telling how much truth there is to these rumors, but the world is going to need some more options when PayPal goes down, as it did last night, causing quite a stir across the web. PayPal apologized for this by way of the PayPal blog. SVP, Technology Scott Guilfoyle wrote:

Google Wants to Pay AdSense Publishers Faster
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Google has taken an opportunity to remind North American AdSense publishers that the fastest way to receive payments is through Electronic Funds Transfer (EFT).

"We want to get you paid by the fastest means possible," says Elizabeth Ferdon of the AdSense Payments Team.