Vantiv, a provider of mobile payment solutions, announced a new point-of-sale product on Friday that it will be rolling out in partnership with Verizon Wireless. The product, which is currently in field testing, includes custom tailored applications and an Android-based point-of-sale solution for accepting payments. The applications will be available in Verizon’s Private Application Store for Business. “Merchants and consumers are seeking greater mobility, control and timely access to data,”...

Despite the growing number of mobile payment initiatives such as ISIS and Google Wallet, only a handful of consumers actually want to use their phones as a mobile wallet. According to new research from Intersperience, just 17% of U.K. adults are interested in using their phones to purchase goods. 24% of the 1,000 participants in Intersperience’s survey were afraid of security issues, although they admittedly didn’t “know why.” 24% also thought their mobile phone is more likely to be s...

Deutsche Bank analyst Kai Korschelt on Tuesday estimated that Nokia stands to make a pretty penny off of royalty payments from Apple moving forward. Nokia announced early on Tuesday that it had reached an agreement with Apple regarding a series of patent disputes filed by each company over the past few years. Based on recent settlements tied to similar cases in the industry, Korschelt estimates that Apple will give Nokia a $608 million lump-sum payment up front. Following that initial payment, Apple will l...

Sources speaking with Bloomberg claim Google is finally ready to take the wraps off its mobile payment service. According to a new report, Google will host an event on Thursday, May 26th to introduce its new service, which will initially be available only to Sprint subscribers in New York, San Francisco, Los Angeles, Chicago and Washington, D.C. who own the company’s Nexus S 4G smartphone. The system will be NFC-based, and Bloomberg did not specify which retail partners would support Google’s in...

It’s more like a pre-prenuptial agreement, but you get the idea. T-Mobile’s parent company, Deutsche Telecom, has confirmed that it stands to receive a $6 billion settlement from AT&T should the companies’ proposed merger fall through. According to DT, a $3 billion cash payment would be made along with additional spectrum and a national roaming agreement. While the exact valuation of the spectrum and roaming agreement was not disclosed, Reuters appraises the two intangibles at close...

Today American Express introduced its new digital payment system called Serve. Serve works similar to PayPal in that it allows users to create an account that can be used for sending or receiving money. Users can access their accounts from American Express’ Serve iOS and Android applications, via the Web, or through Facebook. Serve has two fees, including 2.9% plus $0.30 per load deposited, although this is discounted to 0$ for cash, debit, and ACH. Similarly, there’s a $2 fee on ATM cash withdraw...

Credit card giant Visa has announced a new payment service for U.S. consumers set to launch in the second half of 2011. The new offering closely mimics services offered by PayPal, allowing users with a Visa-branded credit, debit, or pre-paid account to transfer money amongst each other. “Consumers in the U.S. will soon be able to receive and send funds to any eligible Visa credit, debit or prepaid account, anywhere in the world,” reads the press release. “By simply entering the recipient’s...

Leaving your credit card at the bar may soon be a thing of the past — that is, if you live in San Francisco or New York City. Bloomberg is reporting that Google is planning to trial its new Near Field Communications (NFC) mobile-payment system in both cities. The trial, which could begin in as little as four months, would allow users to make purchases using their smartphones at participating retailers. Presumably, Google will run the trial with the NFC-equipped Nexus S, and it is working with VeriFone to ou...

In an attempt to combat what it is referring to as “merchant resistance,” payment solutions company Verifone has taken an unprecedented step with NFC (Near Field Communications) technology. The company will begin to include NFC in all new POS (point-of-sale) systems deployed to merchants. “The retail point of sale represents a point of convergence for smartphone-initiated payments, social networking and electronic couponing, but it won’t happen if retailers are expected, on faith, to...

At a streamed press conference Friday, Rovio CEO Peter Vesterbacka announced the creation of a new mobile payment system dubbed Bad Piggy Bank. Rovio is the development company responsible for the creation of the wildly popular mobile game, Angry Birds. Bad Piggy Bank is an in-app payment solution for the Android platform that will allow users to purchase application upgrades, or unlock an ad-free version of the app, without the need of a third-party, credit-card based service. The service partners with loc...

Today, AT&T, T-Mobile, and Verizon Wireless officially took the wraps off of their rumored mobile payment service. Dubbed ISIS, the new “mobile commerce network” aims to use NFC (near-field communication) technology to make mobile phones the preferred method of payment for consumer point-of-sales transactions.“While payments are at the core of the offering, it is only the start,” reads the press release. “Isis intends to deliver a complete mobile wallet experience that goes ...

The Wall Street Journal is reporting that U.S. wireless providers AT&T, T-Mobile, and Verizon Wireless are working on a joint project that aims to bring a mobile-phone payment system Stateside. Purportedly, the effort is being headed by General Electric executive Michael Abbott and will be financed by Barclays PLC and Discover Financial Services.“The rare showing of cooperation between three of the four national carriers creates a potentially large base of users for its mobile-payment system,̶...

In mid-July, Mozilla announced that it was upping its “bug bounty” from $500 to $3,000 for every critical, reproducible security flaw reported. Today, MacWorld is reporting that, “Between 10 percent and 15 percent of the serious security bugs reported since Mozilla launched its bug bounty program have been provided free of charge.” Mozilla spokesperson Johnathan Nightingale said: “A lot of people would say, ‘Don’t worry about it. Donate it to the EFF or just send me a T-shi...

Bloomberg is reporting that AT&T, T-Mobile USA, and Verizon Wireless are in talks to bring cellphone based payments to the States. Bloomberg cited, “three people with direct knowledge of the plan,” when they wrote that the three wireless vendors “may work with Discover Financial Services and Barclays Plc to test a system at stores in Atlanta and three other U.S. cities that would let a consumer pay with the contactless wave of a smartphone.” Currently, Visa and MasterCard handle ...