PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

The Bancorp Bank Teams Up with Net1 Virtual Credit Card, Inc. to Launch Mobile Payments Initiative

By Mercator Advisory Group
November 3, 2010
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Apple Moves Into P2P Payments Space, Macy’s mobile checkout, Cashless payments

Hand holding mobile phone at supermarket checkout background, digital wallet concept

Virtual cards that are accepted only in card-not-present environments, used by consumers primarily for online payments, has seen slow adoption. Net1 Virtual Credit Card, Inc., a wholly-owned subsidiary of Net1 UEPS Technologies, Inc. hopes to ramp up user adoption by introducing a solution tightly coupled to mobile networks and smartphones. According to The Bancorp Bank, the Mastercard issuer behind the product, “the VCpay application has been distributed to tens of thousands of smartphones with significant adoption anticipated in coming months.”

This is easy to believe since the first mobile adopter is Metro PCS which “is offering VCpay to its prepaid customers as an application that will be pre-loaded on new smartphones or can be downloaded on select existing devices.” Since Metro PCS has 7,634,135 subscribers and added 303,009 in the 3 month period ending June 30, 2010, the VCpay solution should easily be distributed to “tens of thousands of users” despite the fact that some Metro PCS devices can’t support the solution.

The larger question, of course, is how many of the distributed VCpay™ enabled phones will be activated; but the answer to this question is hard to determine.

Read full article: http://www.marketwatch.com/story/the-bancorp-bank-teams-up-with-net1-virtual-credit-card-inc-to-launch-mobile-payments-initiative-2010-11-02?reflink=MW_news_stmp

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: Mobile Payments

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    push notification bank

    From Bland to Beneficial: Using Push Notifications to Reach Business Customers

    May 16, 2025
    recurring payments, PCI Compliance for small business, Fintech for Underserved Small Businesses

    Tariffs May Create an Opportunity in Small-Business Cards

    May 15, 2025
    Using the Card “Beyond” Payments to find the Holy Grail

    Using the Card “Beyond” Payments to find the Holy Grail

    May 14, 2025
    Payments Modernization

    Playing Offense and Defense: Why Now Is the Time for Payments Modernization

    May 13, 2025
    Authorization Rates

    Boosting Revenue for Merchants by Optimizing Authorization Rates

    May 12, 2025
    Why Payment Orchestration is the key to international merchant growth

    Ensuring Payment Decisions Pay for Themselves

    May 9, 2025
    cross-border

    As Businesses Reevaluate Cross-Border Relationships, Financial Institutions Can Help

    May 8, 2025
    Nacha WEB Debit Account Validation Rule Verification Solution, Quovo ACH Payment

    The Brave New Future of the Disappearing Account

    May 7, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result