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Tag: Mobile Payments
7-Eleven Japan shut down a mobile payments app after only two days because hackers exploited a simple security flaw and customers lost over $500,000
The flaw, it seems, was that anybody could reset anybody else's password to 7pay, the 7-Eleven Japan mobile payments app.
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China’s central bank released a special edition banknote – but people have forgotten what cash looks like
It seems Chinese people have forgotten what money looks like.
Young Chinese people almost exclusively use mobile payment apps like AliPay and WeChat Pay to pay for everything from street food to clothes to tipping musicians on the street.
Here’s why you should stop using Venmo, and start using Facebook Messenger for paying back your friends
Venmo claims to be the "social media" of money transfer apps, but is it really that great?
Apple Pay adoption is ‘underwhelming to date by nearly every objective standard,’ says Goldman Sachs
"Despite much publicity upon launch, Apple Pay, Samsung Pay, and Android Pay have struggled to gain traction"
If Apple's feature takes off, some argue, it could bite into the amount of transactions Venmo handles.
After six years, the big banks have finally debuted "Zelle," their competitor to Venmo that works inside the apps of participating banks.
Apple Pay is a fantastic product, but its limited reach remains a problem.
The pre-paid debit cards would tie into a unannounced service that would allow iPhone users to send money to each other digitally.