The folks at Razer have introduced zVault, a virtual currency system that can be used to buy gear and earn games. Fans of Razer can pay real cash to get zGold - or earn zGold for verifying their Razer account with zVault. Once they've earned or purchased an amount of zGold, they can head to gaming stores such as the unfortunately titled GamersGate to trade zGold for goods.
‘Tis the season for giving. Or so they say. Sometimes, however, it’s also the season for giving back. Yes, we’re talking about that money you owe your best bud from your last Starbucks. OK, so maybe that’s not the only reason you need to send someone money or even, gasp, ask for money, but whatever the reason, Google is making it a lot easier to do just that. The new Google Wallet web experience isn’t just snazzier, it also lets you send and request payments right then and there on your browser, no apps needed.
It has never been easier to buy stuff online, be they digital goods or ordering for physical ones. But, like many conveniences, that may have come at a price that no one will be willing to pay. According to security researchers from Newcastle University in the UK, that price is security. They have demonstrated that it only takes six seconds to get a Visa credit or debit card’s number, expiry date, and security code, all thanks to a lax security implementation in its online payment system.
Samsung has announced the launch of rewards for Samsung Pay users located in the U.S., something the company says is a first among mobile payment platforms. The rewards work in a way similar to credit card rewards — every time you make a payment with Samsung Pay, points are applied to your account and can be used toward various rewards. The company points out that in the case of credit cards with rewards, this may enable users to earn double the points — rewards from Samsung and from their card issuer.
MasterCard showed off ‘selfie pay’ and fingerprint payment technology several months ago, and now the services are rolling out in the United States and Canada. Called Identity Check Mobile, this new technology uses both biometric data varieties to authorize online payments. The idea is that using fingerprint or facial images is safer than current options, and you won’t have to remember a password to log in.
On the heels of Samsung launching its own Samsung Pay system in Singapore, Google is now announcing the availability of Android Pay in the same city as well. Largely considered to be tech capital of Southeast Asia, Singapore enjoys being usually the first target of new technologies and platforms in the region. Now Android users in the country will be able to test the promised hassle free benefits of not having to get out your wallet to pay for your next coffee or next McDonald's buy.
It's finally here. Microsoft has finally announced its formal entry into the mobile payments market. Or rather, as Microsoft calls it, cloud-based payment. As reported before, Microsoft Wallet is the new Windows 10 Mobile app that will enable this tap to pay feature for a very select few Lumia models. But since Microsoft has partnered directly with MasterCard and Visa, it means that any contactless payment terminal automagically supports Microsoft Wallet as well. Plus, it supports rewards and loyalty cards right off the bat as well.
The initial furor over competing mobile payment systems may have died down just a wee bit, but that's because they're silently working to rope in support from more financial institutions and merchants. Although some might consider non-Apple Pay systems to not be that popular, that doesn't necessarily translate to reality. Take for example the recent announcement from US Bank that embraces both Android Pay and Samsung Pay, enabling the two mobile payment methods for the bank's MasterCard holders.
Poising your new, still unproven, product as a rival of an existing popular one is a sure way to get noticed, one way or another. But it also sets up expectations that you not be able to meet, ending up with more than just egg on your face. That is pretty much what is happening now to CurrentC, the Merchant Customer Exchange's (or MCX) supposed Apple Pay/Android Pay rival. On its web page, CurrentC testers are not only informed that the beta test ends on June 28, but also that all accounts will be disabled.
By the time LG Pay fully launches later this year, it will probably the youngest and smallest in the still budding mobile payments market. However, it could come with an ace that will, at least in theory, trump even giants like Apple Pay and Samsung Pay. Already leaked before was the "White Card" that will be used with LG Pay, practically a programmable card that can be used on traditional terminals. This would be the first time an integrated circuit or IC will be used in a card for a mobile payment system.
Google didn't make much of a big splash about Android Pay at I/O 2016, but Bank of America isn't going to let the conference pass without putting a word in. Going on stage with Google senior director for Android Pay Pali Bhat, BoA's head of digital banking Michelle Moore made the big announcement Android Pay users have been hoping for since the beginning of the year. At least those with Bank of America debit cards among them. Now they safely and conveniently withdraw cash from select ATMs without having to whip out their cards or even their wallets.
These days, and especially in the US, purchasing items is no longer just a simple case of handing over the exact amount in exchange for a product. A lot of times, discounts or deals are applied via membership perks or loyalty incentives. To put it in perspective, Samsung says that an average American household juggles around 30 loyalty cards, which all add up to bulking your wallet. As part of its mission to digitize money, Samsung Pay is finally getting support for those loyalty cards to make shopping in the US even more convenient.
