LONDON (Reuters) - Once the preserve of big international banks, smartphones are putting the power to deal currencies into the hands of a new cohort of traders, who can make a fortune -- or lose their shirt -- on the bus to work.
Retail foreign exchange trading has grown rapidly in recent years, but the image has been of a lone trader in front of a computer screen. Smartphones, owned by around half the world's adults, are changing that.
SEOUL (Reuters) - In a new Samsung Electronics Co ad, a mysterious monk strides through a supermarket to a hip-hop beat using his staff to wizard groceries into a cart. At the checkout, an acolyte whips out a smartphone to settle up using Samsung's new mobile payment system, as if by magic.
The tongue-in-cheek nod to martial arts movies is a plug for Samsung Pay, a technology to be rolled out in the United States later this month that allows customers to pay for goods by simply placing their handsets on or next to a point-of-sale terminal.
BEIJING (Reuters) - China has resumed work on a set of banking cyber security regulations it suspended earlier this year, reviving a potential source of friction with the United States just weeks before Xi Jinping makes his first trip to Washington as China's president, people with knowledge of the matter said.
MUMBAI (Reuters) - India's leading mobile phone network operators Bharti Airtel Ltd and Vodafone India are among the 11 companies selected by the country's central bank to help set up "payments banks", aimed at granting millions of citizens access to basic banking.
Energy-to-telecoms conglomerate Reliance Industries Ltd, controlled by India's richest man Mukesh Ambani, which plans to set up a payments bank in a partnership with top lender State Bank of India (SBI), was also among the winners.
There has been an explosion in mobile payment service launches, joint ventures, and partnerships in the past two to three years. Merchants are starting to appreciate the benefits that mobile payments can bring, with major chains including Starbucks and McDonald’s launching services on a national basis.
CHICAGO (Reuters) - Four out of five global retailers and other merchants failed interim tests to determine whether they are in compliance with payment card data security standards, putting them at increased risk of cyberattacks, according to a new report by Verizon Communications Inc.
TORONTO (Reuters) - Canada's three biggest telecom firms, keen to keep shareholders happy with fat dividends, are breaking into businesses ranging from banking to healthcare to drive growth as they run out of expansion options and shy away from overseas purchases.
BCE Inc <BCE.TO>, Rogers Communications Inc <RCIb.TO> and Telus Corp <T.TO> dominate their industry in Canada but with landline connections on the wane, cable TV losing out to online portals and wireless growth slowing, Canada's telecom giants are pushing into uncharted businesses.
Square Inc has been in talks with several rivals for a possible sale as the mobile payments startup looks to stem widening losses and dwindling cash, the Wall Street Journal reported, citing people familiar with the matter.
The company spoke to Google Inc (Mountain View, CA, USA) earlier this year about a possible sale, the Journal reported, adding that it wasn't clear whether the talks are continuing.
NFC player Gemalto says Spain’s Banco Santander is now issuing its Optelio Contactless microSD solution in Spain, Brazil, Chile and Mexico as part of a University Smart Card program.
The application has already gone live at several universities, says Gemalto (Amsterdam, Netherlands), and means that students, teachers and other personnel can use mobile phones for tasks such as gaining entry to buildings and to make payments in canteens.
Canada’s Rogers Communications has introduced a new consumer-oriented M2M service allowing consumers to engage with brands while they are shopping through the use of mobile offers, applications and payments technology.
Branded Mobile Shopper, the service is being trialed by RioCan (Toronto, Canada), Canada’s largest owner of shopping centers, in a number of Ontario-based shopping centers.