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Mobile payments will have eliminated cash by 2030, report

03/22/201603/20/2016 Jesse Collins

According to the predictions released by IEEE, traditional transactions will fall aside that year. Although it can’t be disputed that mobile payments have been having a struggle in taking off and that it has been taking a great deal of effort to try to convince consumers to adopt this technology for using smartphones instead of cash or credit cards while in brick and mortar stores, a recent prediction is indicating that the time will come for this tech. A new report released by IEEE has looked into several related factors…

Mobile payments may breach the $1 billion mark in 2013

07/16/201307/13/2013 Jorge Gonzalez

eMarketer has released its predictions for the United States and they are slower than previously expected. Even though the growth of mobile payments that was expected earlier this year is not panning out to be true, the slow increases that are still being made still might allow transactions to top $1 billion in the United States this year if the latest eMarketer data is correct. Though this may seem as though it is an important milestone this year, it is expected to be far greater in 2017. The eMarketer predictions…

Mobile payments could grow tremendously among underbanked Americans

06/12/201306/10/2013 Julie Campbell

This demographic in the United States is now seen to be a key player in the growth and success of the transactions. Current estimates show that in the United States, there are 68 million people who are considered to be underbanked, and the majority of them are highly familiar with cell phones, which makes them ideal candidates for benefiting from what mobile payments have to offer. This can mean that if the market is able to crack this demographic, it could have the potential for tremendous growth. The primary hurdle…

Mobile payments are the largest change to retail in a half century

07/15/201207/15/2012 Jesse Collins

Industry experts are calling smartphones the biggest industry revolution since the credit card. When examining the mobile payments world, it is now being said that the revolution it has brought along with it for retail is comparable to that which was seen in 1958 when the first Visa was introduced by Bank of America in the form of the BankAmericard. Smartphones now offer a widespread transaction method that consumers can use on a mainstream basis. Just as credit cards are now vital to today retail marketplace, regardless of the status…

Amex makes large step into making its digital wallet international

01/19/2012 Jesse Collins

American Express has announced that it will be making an important move to widen the reach of its digital wallet, Serve, into the international marketplace. This move makes Amex the first credit card company to launch a global partnership for the digital wallet with Lianlian Group, one of the top mobile payments providers in China. Furthermore, American Express has also invested $125 million in equity into Lianlian Pay. The Serve digital wallet is an integration of a number of different types of payment option into one account for the user,…