Mobile payments could nearly eliminate the need for plastic cards

Mobile payments credit cards

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…

Read More

U.K. Mobile Payments to reach 20 million users by 2020

U.K. Mobile Payments

The Centre for Economic and Business Research also sees large increases in purchasing over smaller screens. According to a recent report providing information on a study conducted by the Centre for Economic and Business Research (CEBR), the use of U.K. mobile payments is going to explode over the next seven years, while at the same time, people in the country will be using their smartphones and tablets to buy a growing number of products and services. The prediction is that this year’s $7.85 billion in purchases will have risen to…

Read More

Mobile payments taking off in Myanmar

NFC Mobile Payments Mastercard QR Code PayPass MasterPass

Visa and MasterCard have both announced that they are seeing meaningful growth in the country. Both Visa and MasterCard have announced that the penetration of smartphones in Myanmar will considerably decrease the use of cash in the country, particularly when wireless networks roll out the use of mobile payments in this poorest country in Southeast Asia. These two largest electronic transaction companies have emphasized the massive potential in Myanmar. The credit card companies have pointed out that the government of the country is also looking to grant two more telecommunications…

Read More

Mobile payments card readers becoming popular with businesses

Mobile Payments market trends

These devices are starting to be an important part of the industry as a top choice among many businesses. Among all of the various forms of mobile payments that are currently available, it is the credit card reader devices that are proving to be among the most popular as businesses of all sizes find different ways to improve their customer experiences through their use. Though initially believed to be ideal for very small businesses, larger companies are using them, too. According to the mobile payments report from BI Intelligence, “The…

Read More

Mobile payments strategy includes ban on plastic credit cards

LevelUp app mobile payments

In order to help boost the adoption of the service some merchants have tried to eliminate the alternative. The mobile payments industry has faced a large amount of struggle in terms of consumer adoption, even after merchants have started to update their systems and accept this form of transactions. Even the largest players, who have spent billions on systems and marketing, have yet to succeed. Google Wallet and Isis are two of the largest mobile payments systems currently in place, and yet they are seeing very limited use by consumers.…

Read More

Mobile payments offer advantage to small businesses

Mobile Payments

Restaurants specifically stand to benefit from offering patrons a way to pay using smartphones. Analysts are stating that in order to remain competitive now that it is 2013, it will soon be considered to be “crucial” for small businesses and restaurants to offer mobile payments options to their customers. This will help to provide those companies with the type of competitive edge that they require. Electric Commerce International CEO, Jim Anderson, agrees with this statement and included it in a release from his company on the subject. That company is…

Read More

Mobile payments saw significant U.K. growth last year

Mobile Payments

A new report that monitored the acceptance of smartphone transactions has just been released. A new report from the British market research firm called yStats has just been released which shows the wrap up for the mobile payments use statistics throughout last year and the growth that it experienced. Even though the sector still hasn’t expanded at the predicted rate, it still saw some considerable increases. The most recent report from yStats was called “Global Mobile Payment Methods 2012”. It looked into the growth of mobile payments not only in…

Read More

Mobile payments will replace cash and credit cards, say consumers

Mobile payments platform

A survey has shown that people feel that cashless payments will soon dominate the marketplace. A recent survey performed by Harris Interactive has shown that over 60 percent of American adults believe that mobile payments will have replaced traditional plastic credit card and cash transactions in the not too distant future. Approximately 30 percent believe that this will occur within the next five years. The online poll was conducted with the participation of 2,383 adults in the United States. It ran from November 14 through November 19. Among the respondents,…

Read More

Mobile payments partnership in Brazil between MasterCard and Telefonica

The credit card giant and telecom company have paired up to develop a new transaction solution. MasterCard International and The Telefônica Group have just launched a new company called MFS, under a partnership between them that is designed to allow them to work together to create mobile payments solutions in Brazil. The first product from MFS is currently set to be launched in April of next year. That will consist of a pre-paid MasterCard account that can be accessed for mobile payments. The purpose is to allow individuals to be…

Read More

Mobile payments from PayPal tested in Australian shops

Paypal mobile payments

The service allows transactions to occur in-store through a mobile device such as a smartphone. Small businesses in Australia are currently taking part in early trials of the new in-store mobile payments system being offered by PayPal in order to provide feedback regarding its features, function, and value. This new system offered by the eBay owned company first announced the launch of the service last week. Consumers are now able to use a mobile payments app from PayPal to check into a shop that they have entered. This also allows…

Read More

Mobile payments claims by Rogers called false by PayPal

Paypal mobile payments

The telecom company had stated that it was launching the first service of its kind in Canada. A mobile payments battle has developed between Rogers Communications and PayPal, as the latter has alleged that the former’s claims about being the first to offer this service in Canada is untrue. The new Rogers and CIBC service, Suretap, will be the first to use near field communication technology. That is true, as it is the first time that a mobile payments system will be using NFC technology in that country. However, Rogers…

Read More