Category Archives: Personal

New survey reveals mobile wallet adoption is stagnant

Mobile wallets or e-wallets first appeared on the digital payments scene more than two years ago from major players Apple Pay and Android Pay, with Samsung Pay entering the market soon after. On 15 March 2017, Karen Webster, CEO of PYMNTS.com presented statistics for mobile wallet adoption and usage, which can be found at http://www.pymnts.com/mobile-wallet-adoption-2017/. So, what does the data…

Credit card fees get crunched

I read an interesting article recently in The Age about credit card interchange fees and the government caps that come in from July 1: http://www.theage.com.au/small-business/finance/anz-dumps-amex-as-credit-card-fees-get-crunched-20170313-guxcxj.html#comments. Perhaps even more interesting is that the readers’ comments pick up on problems with the existing credit card schemes with greater clarity of purpose than the schemes themselves. The schemes might not get it, but Bluechain certainly knows…

Are the domestic card schemes doomed?

In some countries, in-store payments are still dominated by their domestic card schemes, like Interac Debit in Canada and JCB in Japan. When compared with international card schemes, domestic card schemes typically offer significant cost advantages to consumers and merchants and are an attractive revenue generator for the local banking industry. Sovereign control of a low-fee payment system also strengthens…

MyState trial enters phase 3

Having successfully completed the phase-2 trial objectives (creation of bank account eCards and nearby user-to-user payments), the MyState-Bluechain trial has now entered the next phase. In Phase 3, we will be testing the new merchant point-of-sale (POS) app and relaxing some of the restrictions on which cards can be linked to eCards. An expanded range of Bluechain and non-Bluechain payment…

Another bandaid or is it time for plastic surgery?

Traditional methods of payment have reached or are rapidly approaching the end of their useful lives. Users of payment systems are increasingly tech-savvy and ready to embrace new payments technologies. But with that savviness comes an increased expectation of simplicity, security, speed, convenience and lower cost. A new generation of payment technologies is sweeping through the industry, which have the…

MyState trial ticking boxes

MyState trial participants were surveyed at the end of phase 1 to gain feedback on aspects of functionality, processing speed, and usability. All trial participants surveyed reported that the Bluechain app was easy to use, and many reported that Bluechain was now their preferred method of payment. Although slower than usual speeds were experienced on first-time purchases (additional time is…

MyState trial progresses to phase 2

Having successfully met the phase-1 objectives (onboarding customers and testing the payment server), next week, the MyState trial will move into phase 2. In phase 2, two additional functions will be made available from the app: attach a bank account to an eCard, and request a payment from another, nearby user. Also, due to the reliability of the app and…

MyState trial off to a flying start

At the end of July, users began downloading the Bluechain phone app and setting up their eCards in preparation for the start of the MyState trial. The first payments commenced on Friday 29 July at Little Shoes Espresso in Hobart. Over the first week of August, customers used a variety of Apple and Android phones to connect with the Bluechain merchant’s iPad. All transactions…

MyState trial set for July

The first trial of the Bluechain payment system and app kicks off this month in Tasmania. The trial will be conducted by Bluechain partner bank MyState. This is the first live trial involving real transactions on customer and merchant accounts. The trial will initially be restricted to peer-to-peer transactions between a single MyState merchant and MyState staff acting as customers….

Putting trust into e-commerce purchases

Online transactions volumes are increasing, but at the same time fraudulent activity is becoming more sophisticated and more prevalent, growing at a rate of 15% from $400 million in Australia in 2014. It’s no wonder that consumers are wary when they are asked to provide their card details online. Significantly for online merchants, highly engaged consumers are abandoning their carts…

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