#mobilepaymentlawyer

This app will also enable students to use Lucova’s “Pay With Your Selfie” mobile payments technology that allows for hands-free payments. The FreshX app can also help students skip out on long lines, and allow students to pay without even needing to pull out a wallet or smartphone.

Whether it is Square, Apple Pay, Google Wallet, MasterCard PayPass, or whatever, customers increasingly expect you to be able to process their mobile payment. Can you? If they answer is no, then the answer needs to become yes. Indeed, the answer needs to become yes to all of the above.

"MasterCard is once again teaming with the PGA Tour to bring mobile payments to an event, this time at The Barclays in Edison, New Jersey. Concession point-of-sale terminals throughout Plainfield Country Club at this weekend's Tour stop will be enabled to accept contactless payments and Qkr! with MasterPass. In addition, fans who use their MasterCard with one of these payment options will get a 10 percent discount on their purchase."

“Far more than technology, regulation will be the biggest factor in determining how quickly today’s unbanked move towards full financial and digital inclusion.”

“We have legacy payment systems which are inherently tied within each country. Marc Andreessen of Netscape fame and of recent Horowitz fame has a saying that he oftentimes employs, "Software eats blank. Technology eats blank." You can see what's happened to the newspaper industry. You can see what's happened to the music industry or what's currently happening to the television industry. If you think about fiat currencies and you think about legacy payment systems, I think you can see the opportunity for emerging payment systems and virtual currencies”

CFSB noted various concerns for GPR cards in Mobile Payment and are currently working on regulations. These include: 1) Liability limits 2) Disclosure for fees 3) Error Resolution 4) Authorization for recurrent payments.

“Consumers are increasingly relying on prepaid products to make purchases and access funds, but they are not guaranteed the same protections or disclosures as traditional bank accounts,” said CFPB Director Richard Cordray. “Our proposal would close the loopholes in this market and ensure prepaid consumers are protected whether they are swiping a card, scanning their smartphone, or sending a payment.”