Apple, Google and Others Form Coalition to Push Technology in Financial Sector

A handful of technology giants – including Apple, Amazon, Google, PayPal, and Intuit – have announced a partnership in the formation of the Financial Innovation Now coalition (via Re/code). The group aims to promote tech-friendly policies and changes within the financial services sector in Washington, D.C. Those behind the group will work to alter the political debate on relevant issues like tech security, mobile payments, and fraud prevention in the favor of its partners.

“A technological transformation is going to make financial services more accessible, more affordable and more secure,” said Brian Peters, executive director of Financial Innovation Now. “The challenge in Washington is making sure policy-makers understand that, and they’re comfortable with it, and they don’t apply old rules to new technology.”

Thanks to the growing popularity of mobile payments solutions like Apple Pay, Google Wallet, and PayPal, the companies behind such services are positioning themselves as part of the future in financial services discussions in Washington, since they’re more part of the conversation than ever before. The partnership also intends to work together to achieve blanket improvements for each individual service in topics like user security and authentication, faster payment processing, and „access to basic financial services for the two billion people in the world who are underserved.“

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Tags: Google, Amazon, PayPal, Intuit, Financial Innovation Now
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Amazon barges into mobile payments ring

Amazon will start taking more advantage of the millions of credit cards it has on file with new “Pay with Amazon” buttons. The expansion to Amazon Payments will allow third-party developers to include these buttons in their mobile apps and have users quickly sign in to process payments. Since all their payment information is already with […]

(via Cult of Mac – Tech and culture through an Apple lens)


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Facebook Messenger App for iOS Gains Money Transfer Feature [iOS Blog]

Facebook today announced a new feature for its Facebook Messenger app for iOS – money transfers. It’s now possible for Facebook Messenger users to send and receive money right within the app, letting Facebook compete with other money sending services like Venmo and Paypal.

The new money sending feature is free to use. Sending a friend a payment can be done by tapping the „$“ icon located on top of the keyboard, which is also where stickers are accessed and photos are inserted. After tapping the icon, enter the amount to send, tap „Pay“ in the top right corner of the app, and add a debit card (Visa or MasterCard) to make the payment.

Receiving money can be done by opening the conversation from the friend who sent the money and adding a debit card to accept the money. Funds are transferred immediately when sent through the app, but it can take one to three business days for the money to be made available.

Facebook says that it uses multiple layers of software and hardware to protect its payment systems, and on iOS, the app can be secured with Touch ID.

According to Facebook, the new money sending feature will be rolling out over the coming months in the United States. The Facebook Messenger app can be downloaded from the App Store for free. [Direct Link]




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You can now purchase things through Apple’s online store using PayPal

Don’t like using your credit card online? No problem. Apple has just updated its online store to allow you to pay for anything the company sells online using PayPal. Live now on the Apple Store, you can now select PayPal…Read more ›



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Apple Online Store Now Accepting PayPal Payments

Apple’s online stores in the United States and the United Kingdom have begun accepting PayPal payments, reports Re/code. PayPal was previously available as a payment option in iTunes and the App Store, but it is now also accepted for product purchases made at Apple.com.

Payments with PayPal can be made as of today from the online Apple Store by choosing the PayPal option when checking out.

Along with accepting PayPal payments, Apple will also promote PayPal Credit payment methods, letting Apple online shoppers pay for items over $250 with monthly payments over the course of 18 months with no interest.

Now that Apple offers a PayPal competitor with Apple Pay, the two companies have had some minor disputes. Back in September, PayPal attacked Apple during the iCloud hacking that saw several celebrity accounts breached. Apple and PayPal were initially in talks to partner up for Apple Pay, but that deal may have soured due to a PayPal/Samsung deal that saw PayPal accepting payments authorized with the Samsung Galaxy S5 fingerprint sensor.




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