An RBR report sizes up the current state and future outlook for card acceptance worldwide — and questions whether Visa and MasterCard can keep pace with China's UnionPay.
The move comes a week after MasterCard tokenized its online check out service, MasterPass.
The bank said it used Mastercard's Digital Enablement Service to add the feature.
Mobile Payments Today has released its latest survey for the upcoming 2016 Mobile Payments State of the Industry Report.
A partnership with MasterCard will make it possible for European card issuers to add their products to the service.
In a survey of 1,000 shoppers and payment processes in the past year, 93 percent used cash, 68 percent used debit cards and checks, 67 percent used credit cards and 62 percent used PayPal for payments.
BJ's Wholesale Club, Kohl's and JCPenney will be among the first retailers to bring mobile payments to their private label cardholders later this year.
A partnership between MeaWallet and The Bancorp will provide existing and new Bancorp customers the ability to add branded mobile wallets and cloud-based digital mobile prepaid cards to their portfolio of card products.
Eight financial institutions, representing approximately 50 percent of the total U.S. payment card volume, estimate that 63 percent of their credit and debit cards will contain EMV chips by the end of this year, expanding to 98 percent by the end of 2017.
Through their court-appointed lead counsel, FIs are lambasting the proposed $19 million settlement agreed upon by MasterCard and Target.
Freeze It that acts like an on/off switch to stop new purchases from being made with a cardholder's account.
BBVA and Cuscal have already launched, while Banco do Brasil, PNC and US Bank intend to launch supported apps in the near future.
The move expands the company's Visa Token Service, which is intended to protect sensitive card information.
The 61-page document details the capabilities of 151 leading mobile wallets.
The US accounted for 185 million smart cards shipped in 2014, compared with just 30 million in 2013, the Smart Payment Association says.
Blue Nile, Neiman Marcus, Office Depot and Rue La La among the latest merchants who plan to offer MasterCard's digital wallet service at checkout.
The FIs will use Visa's cloud-based payment specifications for their apps.
SingTel-Optus has partnered with Visa and Heritage Bank for the new mobile wallet that's funded with a prepaid card.
The Merchants Payments Coalition wants to educate Congress members and their staffs about upcoming innovations in payments.
The company says its connectMoney Service Manager creates an industry benchmark for mobile money by connecting financial open systems powered by MasterCard and other card networks.