Microsoft’s new operating system for mobile phones Windows Phone 8 will feature a mobile wallet for credit, debit and loyalty cards that supports NFC payments. The service looks similar to Apple’s Passbook App, but also features NFC-based Tap to Pay payments. The mobile wallet will come preloaded on all Windows 8 smartphones. It’s still unclear when the service will be commercial available. Read more…
AppCharge: Yet Another Square Clone?
Payment service provider PowerPay moves in to mobile card payment market and launches AppCharge. AppCharge is service that turns mobile phones into a portable credit card terminal – just like Square. The reader works with iOS and Android devices and the App is available for free at the respective marketplace. So far the company has not disclosed details on transaction fees and availability.
BancBox Starts Customizable Payment Service Platform
BancBox has introduced a customizable platform that lets developers build their own payment service. BancBox enables companies to create all kinds of payment services – from basic features like send and receive money to full-fledged e-wallet solutions. BancBox’s CEO Sanj Goyle stated: “Our out-of-the-box set of APIs cover the entire money movement flow, so companies can deliver payment services in days rather than months and scale and adapt them as needed. And, because all of our services meet regulatory standards our customers don’t have to need to acquire a money transmitter license or maintain PCI compliance.” The service is available in public beta, developers can sign up here.
Facebook to Phase out its Virtual Currency Facebook Credits
Surprisingly, Facebook has announced to move away from its virtual currency Facebook Credits. In a post on their developer blog the social network company says that it is updating its pricing to local currency instead of Credits. It has only been one year since Facebook made Credits the mandatory virtual currency for games and applications on the Facebook platform. Most developers on Facebook still use their own virtual currency inside their games instead of adopting Credits for in-game purchases. As a result users have to convert their real-world money twice (real-world currency -> Credits -> In-game currency) to make in-game purchases. By discontinuing Facebook is not stepping out of payments but streamlining the payment flow, eliminating unnecessary currency conversions.