Paypal enters the holiday price-matching fray

Reuters

PayPal launched a price-matching offer on Thursday, following similar moves by retailers including Target Corp, as the payments giant tries to encourage more shoppers to use its service this holiday season.

If consumers purchase products with PayPal and the items are advertised for lower prices by any merchant within 30 days, PayPal said it will reimburse users the difference.

The price-matching offer includes PayPal purchases made online and in physical stores and runs through December 31, the company, owned by eBay Inc (San Jose, USA), added.

Numerex earnings rise 32% on demand for subscription-based services

M2M vendor Numerex has reported impressive gains in third-quarter earnings and revenues due to rising demand for its subscription-based security, asset tracking and monitoring services.

The company claimed a 32% year-on-year increase in net profit, before the inclusion of income-tax benefits, to $987,000, while overall revenues grew 17% to about $17.7 million.

Vodafone and Gemalto to collaborate on global NFC rollout

Vodafone has signed a multi-year global contract with Gemalto, under which the Dutch M2M company will help the telecoms operator to launch so-called ‘wave and pay’ contactless transactions via mobile phones.

Best known for its digital security products, Gemalto (Amsterdam, the Netherlands) will provide Vodafone (Newbury, UK) with its Trusted Service Management (TSM) platform, which manages mobile-payment security encryption between financial institutions and mobile operators, as well as its UpTeq NFC card product.

Paypal cutting jobs as part of major reorganization

Reuters

PayPal is cutting about 325 jobs as part of a major reorganization by its new president, David Marcus, designed to regain an innovative edge and head off rising competition.

PayPal, the online payment pioneer owned by eBay Inc (San Jose, USA), said on Monday the full-time jobs would be eliminated as it combines nine product-development groups into one. The company is also cutting about 120 contractors.

EBay will take a $15 million pretax restructuring charge in the fourth quarter related to the job reductions.

Isis finally launches mobile payment service in two cities

Reuters

Isis, a venture of three of the top U.S. mobile providers, said on Monday it has kicked off its much-delayed mobile payments service in two U.S. cities and promised that as many as 20 phone models would support the service by year end.

Isis, formed by Verizon Wireless (New York, USA), AT&T Inc (Dallas, USA) and T-Mobile USA (Bellevue, USA), is a mobile wallet service that allows consumers to make payments by waving their phone at a check-out terminal, instead of using a plastic card.

Groupon eyes restaurants with nationwide POS offering

Reuters

Groupon Inc launched a point-of-sale service called Breadcrumb across the United States on Wednesday as the world's largest daily deal company tries to win more restaurants as clients.

Breadcrumb is a sales, order management and reporting system for restaurants, bars and cafes that runs on Apple Inc's iPad. It was designed a start-up founded by Seth Harris. Groupon (Chicago, USA) acquired the business in May.

Paypal plans first job cuts since 2008 financial crisis

Reuters

PayPal is planning to cut as much as 3 percent of its workforce as the payments division of eBay Inc looks to streamline its operations under new President David Marcus, a person familiar with the situation said on Friday.

The reductions are expected to total between 300 and 400 and be focused in product development, technology and marketing, the person said on condition of anonymity because the plans are not public. PayPal (San Jose, USA) has almost 13,000 employees.

The job cuts will be PayPal's first major reductions since the financial crisis in 2008.

NTT DoCoMo teams up with MasterCard on international payments

NTT DoCoMo (Tokyo, Japan) and MasterCard (Purchase, USA) have teamed up on a service that will let the operator’s customers use their smartphones to pay for goods abroad.

The companies plan to expand DoCoMo’s mobile credit payment system to include MasterCard PayPass merchant locations. As of June, there were an estimated 500,000 such locations in 41 countries.

Collaboration with the payment card companies is necessary if operators are to break into the market for international payments, and the industry is likely to see more deals of this nature in the months ahead.

RACO Wireless gets private-equity boost, forecasts M2M surge

Private-equity group Inverness Graham Investments (Newtown Square, USA) has taken a majority stake in RACO Wireless (Cincinnati, USA) as the M2M specialist reveals its acquisition intentions and predicts a “significant surge” in the growth of the market.

Intel: M2M data tsunami begs for analytics, security

Petabytes of data from entire cities or global deployments of sensors, boiled down into actionable metrics that can produce tangible results. That’s the future of M2M deployments according to Intel, and the chipmaker claims it’s not far away. Rick Lisa, the company’s director of M2M global business development, spoke to a gathering of M2M developers at the Telit DevCon event, held on the eve of the CTIA’s MobileCon show in San Diego.