Mobile payment systems which operate through card readers are more commonly provided by mobile phone companies or e-payment providers. It is therefore rather surprising to see the Bank of America provide this type of service. However, this will give them an edge over their competitors.

Specifications about this mobile payment system

The system requires the usual two pieces of hardware to operate. The first is a smartphone (any iPhone or Android phone does the trick) and the second, a card reader which the bank itself provides. There is however a rather unconventional twist to this card reader. It will not be plugged into the phone via the charging port but via the earphone jack entry. Customers of this mobile payment service will then be able to process payments from debit or credit cards from MasterCard, Visa, American Express and Discover.

The Bank of America grabs a share of the payment processing business

This mobile payment solution should be very interesting for entrepreneurs and businessmen in the retail business. Its main selling point is that it has a 2.7% transaction fee which no other payment company offers on the American market. The Bank of America is also providing a marketing service subscription to any business which signs up for this solution in 2012. Those who haven’t already hopped aboard any other payment company’s mobile card reader service should definitely consider this one.

A mobile payment solution designed for small businesses

This particular service has been designed to help small businesses. Indeed, its low transaction fee and marketing service should come in handy for businesses who are still recovering from the economic riptide of the past five years. The Bank of America will process its first payment on this service on the 3^rd of December.

With its unique type of payment solution, Virtual Piggy is a very interesting contender in the online payment field. Indeed, the service it proposes allows children who are still under the care of their parents to make online purchases by utilising an account monitored by the parents or guardians.

Virtual Piggy’s payment solution evolves

The reason why this partnership was entered in by Virtual Piggy is that the company wants a larger share of the e-commerce market. Being the first company which offers such a payment solution, it would be a waste for it to overlook the possibilities that the eBay subsidiary can offer. “With over 117 million active accounts, PayPal is the premier global online payment provider,” says Dr. Jo Webber, the founder and CEO of Virtual Piggy.

About PayPal

PayPal is a payment company which is used by millions of customers to safely pay and get paid online. The popularity of this service resides in the high level of privacy it offers to its clients. By using this payment solution, customers are given the possibility to create a barrier between their financial information and retailers. This means that less critical information is exchanged during any e-commerce transaction.

The implications of this partnership

The cooperative work between these PayPal and Virtual Piggy levels up the field of e-commerce as far as payment by teenagers or preteens is concerned. It shows that online payment is now a method of payment which is not only reserved to adults while also giving both companies a good name in the electronic payment sphere.

Hybrid’s work in this cooperative partnership will encompass the integration of Mobile handheld technology and standard Point of Sale (POS) terminals to BancNet’s point of sale network. The purpose of the partnership is to improve the electronic banking consortium’s payment terminal network.

Information about the electronic banking consortium

The electronic banking consortium’s system is linked with three other POS and ATM networks in the Philippines; China Union Pay, Expressnet and Megalink. Seeing as the company is now a partner of Hybrid Paytech, its network will automatically be expanded to potentially include other merchants of the Freeport Capital subsidiary and of SME solutions.  Needless to say, BancNet’s 99 member banks will benefit from this business expansion, for they will have the possibility to pay with their BancNet card at more point of sales.

Why the Hybrid Paytech Asia POS services were chosen

According to BancNet president Robert Blas, Hybrid Paytech Asia was chosen as the electronic banking consortium’s POS hardware supplier because of its wide array of merchant services and also because it is fully compliant to the payment standards which are in place in the industry right now and which will be in the foreseeable future. He also mentions that this aspect of the company’s operations separates them from the herd of mobile payment providers.

Views from the CEOs of both companies

“We are happy to partner with a corporation that has an in-depth knowledge of the global payment environment to complement our existing payment offerings to our member banks,” says Mr Blas. As for Hybrid Paytech Asia president Gary Repchuk, he mentions that the company looks forward to furthering their relationship.

Nirve Sports already has its own e-commerce solution which operates on its online shop. However, Virtual Piggy’s solution will make this company’s client-base increase because according to Virtual Piggy’s CEO, bikes are very popular amongst youngsters.

Virtual Piggy: revolutionary e-commerce

Being a renowned high quality bicycle maker, Nirve Sports needed an online payment solution which would allow them to sell their merchandise more efficiently. This is why they chose Virtual piggy. This company is the first e-commerce solution which makes it possible for underage customers to buy online, under the control of a guardian or parent. It provides online businesses with the ability to function according to the Children’s Online Privacy Protection Act (“COPPA”) and other similar international children’s privacy laws.

How Nirve Sports benefits from this online payment solution

“As our e-commerce continued to grow, we really wanted a better solution for tapping into the youth market online,” says President/CEO of Nirve Sports Danilo Bon. He adds that Virtual Piggy enables the company to “accept safe payments from younger customers, with the peace of mind knowing they’ve been pre-approved by parents”. This makes their huge catalogue of items available within a couple of mouse clicks.

Words from Virtual Piggy CEO

Virtual Piggy’s CEO, Dr. Jo Webber has said that this partnership is a formidable addition to the company’s family of online payment merchants. He adds that, “their products are sure to be popular as savings goals and Wishlist items for our customers.”

The cooperative work of these two companies has one ultimate goal: to make multiple venue sponsorships and technology integrations easier so that live events are properly showcased. A number of different improvements will be made and the main one will involve ticketing.

Selling tickets through e-commerce

eBay has chosen its best e-commerce companies to make this project possible. To improve the aspect of ticketing, StubHub’s ticketing solutions will be used as a secondary means of ticket sale. This company will also be used as the Official Secondary Partner of the 2012 Stanley Cup Champion LA Kings (NHL), the LA Galaxy and STAPLES Center. This will begin in the first quarter (Q1) of 2013. This part of the partnership will not only cover the United States but also Europe.

PayPal’s involvement

PayPal (an eBay subsidiary) is also involved in this multi-partnership e-commerce agreement. It will be used by AXS Ticketing as a method of online payment. This will increase the exposure of a great number of events to the mass. It will therefore be easier for PayPal clients to obtain tickets to shows they do not want to miss. Other than that, AEG will upload its list of artists to the eBay Marketplace. About 135 artists will benefit from this deal.

eBay and AEG’s partnership is here to stay

Both companies intend to extend the number of integrations and partnerships within the scope of this deal. The 2013-14 seasons will therefore be this project’s first phase. However, neither the e-commerce company nor the entertainment one has mentioned what the other partnerships may be.

Both companies are known to be among the world’s best service providers in their respective fields. Allied Wallet has a firm grip on the e-commerce market and Dinpay is one of the largest, if not the largest payment platform provider of the People’s Republic of China.

A strategic e-commerce partnership

The aim of this partnership is clear and simple. Dinpay will be the company which will take care of Allied Wallet’s 3D Verification for security and in exchange, Allied Wallet will make sure that the Chinese company’s processes are compliant with the Payment Card Industry’s (PCI) DSS Level One. The e-commerce company has also thrown a customisable Fraud Scrub and a 128 bit SSL layer in the deal. This should make both companies stronger in their respective fields.

About Dinpay’s payment platform

Dinpay is a Chinese company which is revered as a tough competitor in the payment platform provider business. Its services in the conventional and online payment fields are known to be among the most diversified ones on the planet. For now, its alliance with Allied Wallet is only concerned with the 3D verification because the e-commerce company is itself a competitive contender in the payment field. However, there is a possibility that their agreement is extended and that they exchange or merge their technologies. This is a threat to other competitors in the business and it cannot be overlooked.

How this deal benefits the Chinese payment platform

Both these companies provide a 24/7 service and this makes it possible for them to process payments in a minimum of 1 day. This makes Dinpay’s platform more accessible to worldwide shoppers whilst giving it the possibility to accept payments more easily.

The company is starting to be known as a provider of cloud services rather than an invoicing and billing one because of its recurrent involvement in the field of cloud computing. After its recent partnership with payment processing services developer Braintree, it is safe to say that FreshBooks wants a piece of the online payment business.

Small businesses can now thrive without much stress

This new FreshBooks iPad app provides a range of services which will be of great help to small businesses and their owners. One will be able to use this app for the creation and management of invoices, estimates and expenditures. The services will also include the transfer of images, receipts fees and invoices. Any change which occurred when the client is not connected to his cloud account will be registered for synchronisation when the user logs in in the future.

How this app works

This iPad app will make life easier for many small business owners. They will not constantly need to worry about keeping scores when they are on the road, with clients or not working. The FreshBook app will take care of any change and this will help small businesses to correctly identify any problem and swiftly finding a remedy. FreshBooks has developed a killer app as far as cloud computing and accounting are concerned.

Other interesting iPad or Android tablet apps for small businesses

The mobile application requires a FreshBooks account, from $ 19.95 per month. There are three other accounting applications for iPad (& iPhone) and Android tablets or smartphones that deserve your attention apart from the FreshBooks one. They are Xero Touch, Ginette, and QuickBooks Mobile.

The launch of this brand new system is to be effected by the end of 2012 and it is awaited with much awe. It will actually be the British group’s Indian subsidiary Mobile Commerce Solutions which will take care of the launch together with ICICI Bank.

Vodafone established this mobile payment system in Kenya too

This mobile payment system, albeit being new in this part of the world is not the first of its kind. It has already been implemented in Kenya and it has engendered undisputed success. Vodafone partners have launched this electronic payment system together with Safaricom in Kenya. The service is still in its pilot phase but when it is fully launched, it should be able to cater for payments, transfers, deposits and withdrawals from a mobile phone based on the local Vodafone network.

Mobile payment on the rise in India and in the world

This project may well be very lucrative if one were to believe the visionaries of the electronic commerce and online payment fields. Indeed, a recent study by Juniper Research has stated that the number of people using their mobile phones as a payment device between 2011 and 2015 will increase by 40%. We are here talking of an increase of 1.8 billion to 2.5 billion payers, who will use mobile payment as a primary form of financial settlement.

The British group is externalising its resources

After Vodafone’s recent alliance with mobile wallet provider CorFire and the one with Safaricom, the company is staying on the tip of its toes by strategically pairing up with ICICI Bank. These calculated partnerships are the reason why this company is one of the most notorious telecom providers in the world.

This analysis of the e-commerce scene is published for the ultimate purpose of providing insight as to the state of electronic payment in the world of finance. The OPMG is released on a yearly basis by the website and contains information given from renowned analysts.

A guide for those interested in finance in general

The Paypers’s OPMG 2012 is definitely a must. No yearly finance publication will give you such in depth information about what products and services you should consider purchasing. The goal of this OPMG is to give an unbiased opinion about online payment agencies so that there is an evolution in this field. This year’s edition is the third and it simply should not be missed if you want to know all the innovations, present and future, in the field of e-commerce and online payment.

The popularity of this guide

The third edition of the OPMG contains critical information as to the state of online payment. Various interviews from experts and stakeholders in this industry are included in it. It is therefore not only a good read but also a reliable source for any future analyses. The surprise of this third edition is the feedback which several leaders of the e-payment industry have given about the OPMG 2011. Moreover, these leaders also speak about their strategies and all the difficulties that the e-commerce industry will face.

Views of online payment and finance gurus

The OPMG 2012 is read by 60,000 people each year. It gives a definitive view about the pros and cons of latest trends and developments. This publication is recommended by many specialists of the field. It can be downloaded on The Paypers website

The agreement makes it possible for their clients to access tangible money through the credit in their electronic wallet. This solution which has never been thought of by any financial institution before has positively shocked more than one consumer and competitor.

What these companies wish to accomplish

The result of their work together is pretty simple and straightforward. Any individual who has a PayPal e-wallet account will now be able to access the funds in his online wallet simply by going at a MoneyGram dispenser and retrieving money there. This essentially means that people who do not wish to use a bank account to store their money can do it through their e-wallet and retrieve it from any MoneyGram location. The world’s most popular e-wallet service can now be used as a bank as well as an e-commerce enhancer!

Why MoneyGram was chosen

Although the agreement has been signed by both companies, this project is still in its pilot phase. The beginning of its implementation in the United States alone only begins in 2013. This trend should take over as from there. After all, PayPal is accessible to many countries and MoneyGram’s business network extends over 196 countries and 284 locations.

PayPal decides to take over the world

PayPal has clearly decided to extend its area of expertise. After its recent policy amendments which will come into force on the fifth of December 2012 and their partnership with TrustPay to update their accessibility in eastern Europe, this new agreement puts them in a safe place as far as the e-commerce market is concerned.