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Groupon announces acquisition of Kima Labs

02/22/2012 L. Green

Leading social commerce company, Groupon, has announced its acquisition of Kima Labs, the startup company that produced the Barcode Hero mobile barcode reader app, as well as the TapBuy mobile payment solution. The details of the financial terms relating to this purchase have not yet been released, however, it was confirmed by Kima Labs on the website for Barcode Hero. This was the app that allowed iOS devices by Apple to share their product recommendations through the use of a scanned barcode. It has now already been discontinued due to…

Social networks dip their toes into m-commerce ad money

02/21/2012 Jorge Gonzalez

Square, Facebook, Twitter, and many other social networks are going to be a foundational element for the mobile transactions market, as they make their way into e-sales over mobile devices. It is expected that by 2015, the mobile transactions marketplace will be worth $1 trillion worldwide. Though many forecasters disagree at how quickly mobile payments will take off and how much they will be worth from one year to the next, what is known is that according to comScore data, the holiday season saw a 15 percent increase, reaching over…

Visa criticizes the lackluster security measures for PayPal’s new mobile payment platform

02/20/2012 John Montgallo

After months of trials with NFC-powered mobile payments, PayPal announced earlier this month that it would be abandoning the technology entirely. The company will instead be adopting a mobile payment system of its own, whose security measures are claimed to be unbeatable. PayPal’s claims have run afoul of Visa, however, who has invested a great deal in NFC technology. The global credit company is well-versed in matters of financial security for consumers and has taken issue with PayPal’s insistence that its own protection methods trump those put in place by…

Researchers create technology that can turn a credit card on and off

02/20/2012 Stephen Vagus

Mobile security payments online retail card

With news of Google Wallet not being as safe as it should have been, many consumers are expressing concern over adopting mobile commerce. While telecommunications and technology companies are quick to assure consumers that mobile payment applications will be safe in the future, financial institutions are taking these concerns quite seriously. Many credit companies are working to move away from traditional magnetic strips for their payment cards. In an attempt to modernize commerce, these institutions are beginning to adopt NFC technology. They are also looking to researchers from the Pittsburgh…

PayPal to break new ground in mobile commerce by removing NFC technology from the equation

02/09/201202/09/2012 Stephen Vagus

Mobile commerce is beginning to take hold with consumers, but as more companies look to establish themselves in the emerging industry, one of the major contenders is deciding to bow out of the competition. PayPal has decided to discontinue its pursuit of NFC mobile payment applications, claiming that the technology is a step backward for point of sale transactions. The company is not abandoning mobile commerce entirely, however, and will be working on a new way to provide a similar service to tech-savvy consumers. PayPal first began experimenting with NFC…