future of mobile payments Archives

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 could nearly eliminate the need for plastic cards

08/13/201408/11/2014 Stephanie Beck

Accenture Payment Services managing director Matthew Friend predicts that cards will go the way of the eight-track. The managing director of Accenture Payment Services, Matthew Friend, has published an article in Forbes that has predicted that the adoption of mobile payments could eventually make the use of ATM and credit cards nearly obsolete. If it were up to many retailers, credit card companies, and other financial institutions, smartphones would be the new plastic. There are many major players that are currently vying for dominance in the mobile payments market, ranging…

Mobile payments are almost ready for in-store in Europe and North America

06/10/201306/08/2013 Sam Lambert

A new report from the Berg Insight analyst firm has suggested that the transactions may be ready to get started. According to the latest report from Berg Insight, by 2017, the North America and the EU27+2 region (the twenty seven members of the European Union as well as Norway and Switzerland) will achieve a combined total of €78 billion. This will have been a tremendous increase from having been only €0.6 billion last year. In Europe, the baseline in 2012 was considered to be somewhat meager, having reached only €0.1…

Mobile payments for micro businesses dumped by Verifone

12/20/201212/20/2012 L. Green

The CEO of VeriFone has announced a withdrawal from direct-to-micromerchant services. VeriFone took the mobile payments industry off guard when its CEO released the surprising news that it would no longer be pursuing direct-to-micromerchant and would be selling off that part of its business. It explained that its Sail service has been unprofitable and that it would no longer be continued. The mcommerce news was released by Doug Bergeron, the VeriFone company CEO. After a year of heavy promotions of all of the company’s mobile payments services for tablets and…

Mobile payments to take off in China over the next three years

09/03/201209/02/2012 Jennifer Goula

Chinese consumers are expected to adopt the method quite widely by 2015 As mcommerce takes off in China, it is leading to a number of other associated growths, such as in mobile payments, which are expected to continue their momentum to the point that they will be highly profitable as early as 2015. A recent report has shown that although it is still just emerging in China, it will soon explode. The mobile payments report was created by Deloitte & Touche, and demonstrated that although the Chinese marketplace for paying…