Canadian banks and telecom providers are scrambling to introduce smartphone digital "wallets," but the dream of completely abandoning the traditional billfold in favor of a smartphone is likely several years away, according to speakers at an e-commerce conference in Toronto on Tuesday.
Digital wallets will allow consumers to make cash and credit card transactions using their smartphones by swiping the phone past a sensor and then entering a PIN number to complete the payment.
Dutch digital-security specialist Gemalto (Amsterdam, the Netherlands) has bought Ericsson’s Internet Payment Exchange (IPX) business for an undisclosed sum as it targets the fast-growing mobile-payments market.
The acquisition does not include the US operations of the Ericsson (Stockholm, Sweden) business.
IPX connects more than 1,000 customers globally to over 120 mobile network operators. The company also operates payment platforms as white-label services for a number of operators.
EBay Inc (San Jose, USA) Chief Executive John Donahoe often quotes a merchant saying NFC stands for "Not For Commerce" - and dismisses the prospects of Near Field Communication technology used to turn cellphones into mobile wallets.
He got some support this week from Apple Inc (Cupertino, USA), which did not embed NFC chips into the iPhone 5.
Isis, a venture of three big U.S. mobile providers, is delaying the launch of its mobile payments service for the second time this year, an executive for the company said on Thursday.
Isis is an effort by Verizon Wireless (New York, USA), AT&T Inc (Dallas, USA) and T-Mobile USA (Bellevue, USA) to provide mobile wallet services that would allow consumers to get rid of plastic cards and instead make payments by simply waving their phone at a check-out terminal.
While Japan has had mobile payment services for years, U.S. development of such services has been much slower.
British telecoms incumbent BT (London, UK) has announced that Luis Alvarez will replace Jeff Kelly as chief executive of the company’s Global Services business.
Having previously served as president of BT Global Services Europe, Middle East, Africa and Latin America, Alvarez will take over from Kelly on October 1.
According to BT, Kelly has decided to return to the US, where he will continue to work for the group in a part-time capacity as a senior executive advisor.
Mobile operator M1 (Singapore) has signed up network manufacturer Ericsson (Stockholm, Sweden) to upgrade its mobile backhaul network.
The operator says the work is necessary because of the increasing demand for bandwidth, caused largely by the rise of internet browsing and video streaming on mobile devices, as well as the launch of LTE services.
Huawei (Shenzhen, China) has announced the start of a major M2M push in Europe as it aims to become the dominant player in the nascent industry.
China’s largest networks vendor has spent the last few months signing distribution agreements for its embedded modules in Europe’s biggest markets.
It now counts m2m Germany, Simple Solutions (UK), Sagitron (Spain and Portugal), Matrix (Spain), BE Telecom (Belgium and Israel), Netcom (Poland) and Techship (Sweden) among its partners, and says further deals are in the pipeline this year.
European Union regulators will approve plans by British mobile operators Vodafone (Newbury, UK), O2 (London, UK) and Everything Everywhere (London, UK) to set up a joint venture to allow users to make payments and purchases with their phones, a person following the deal said on Tuesday.
Vodafone, Telefonica's 02 and Everything Everywhere, owned by France Telecom (Paris, France) and Deutsche Telekom (Berlin, Germany), aim to compete with similar mobile payment services from Google (Mountain View, USA), Apple (Cupertino, USA) and Facebook (Menlo Park, USA).
Garmin Ltd (Olathe, USA) and TomTom NV (Amsterdam, Netherlands) are gearing up for battle as the world's two biggest navigation companies plan to lure customers back with new products offering extra features.
Satnav sales have been in decline since 2008 as rivals like Google (Mountain View, USA) and Nokia (Helsinki, Finland) gave away free navigation on smartphones.
Once the darlings of the stock market, TomTom and Garmin have seen the value of their shares drop by more than 90 percent since the end of 2007, when satnav's were the hottest Christmas gifts.
Europe’s premier vendor organization for machine-to-machine communications (M2M) and the world’s largest M2M event organizer have announced that their joint marketing agreement will expand into full-blown partnership. The M2M Alliance has been working with the M2M Zone in joint promotional activities since 2010, but now their cooperation will include the exchange of content, membership services, and strategic consultation for the first time, in addition to joint exhibition and conference activities.