Mobile wallet platforms Apple Pay and Google Wallet both
picked up more merchants
Apple Pay said in its mid-week update that it picked up Acme, Firehouse Subs, T-Mobile, Davis Food & Drug, GameStop, Luby’s, Rubio’s and the Phoenix Suns’ US Airways Center. That brings the total of Apple Pay merchants to 68, with another 13 in the works, including Marriot, LL Bean and Pep Boys, according to PYMNTS.
But even with so many merchants partnering with Apple Pay, there’s still a long way to go for the mobile payments service. Currently, less than 3% of US merchants accept near field communication (NFC), which is what Apple Pay uses to complete transactions. That will change, however, as more US merchants convert to EMV terminals ahead of the October liability shift; EMV terminals are equipped to also accept NFC payments.
Meanwhile, Google Wallet announced that Dunkin Donuts and Seamless have integrated its in-app payments service into their Android apps. These merchants join more than 30 retailers that Google Wallet has developed in-app payments for, including Papa Johns and Panda Express. Google has also been integrated into the merchant platforms for Shopify, ChowNow and Shopgate. Retailers who use those services can now provide Google Wallet as a checkout option.
On day one of Sibos 2017, Stefan Dab, The Boston Consulting Group led a conversation examining the future of correspondent banking, and specifically the pain points corporate treasurers face in their cross-border payments operations and where technology can be developed to alleviate these.
Rising interest rates, excitement around blockchain use cases and cross-border payments were all hot topics at this year's AFP conference in San Deigo.
On-Demand Treasury Management Solutions continue to gain increased adoption in the US and EMEA regions.
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.