Mobile payments could grow tremendously among underbanked Americans

Mobile Payments

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…

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Mobile payments projected to reach $1.3 trillion annually

Cyber Crime mobile payments

Though this is very promising for the technology, it has also made it very appealing to cybercriminals. As the popularity and use of mobile payments continue to rise to the point that the latest projection for the market is that it will reach $1.7 trillion per year by 2017, cybercriminals have not failed to take notice and are becoming an ever present element of the use of this technology. It is predicted that these security threats will only continue to grow along with the use of the technology. At the…

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Mobile payments are just getting started, says Tim Cook

iphone mobile payments NFC technology

The Apple CEO was quoted to say that the technology and its use is still “in its infancy”. CEO of Apple, Tim Cook, has revealed that while he does see a future for mobile payments, its current status remains an immature market, which has led many in the technology industry to believe that his company is not planning to make any considerable moves into that sector within the near future. The CEO feels that the market is only just taking its first baby steps and that it is far from…

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Mobile payments could be Amazon’s next big step

Amazon mobile commerce

A new solution may be introduced by the internet retailer according to recent filings made by the company. Though nothing official has been announced just yet, the mobile payments industry believes that Amazon is preparing to release its own platform that will offer a solution similar to GoPayment, PayAnywhere, or Square. This assumption has been made based on recent official filings that have been made by Amazon. The filing that has drawn the attention of the mobile payments world to Amazon was made with the United States Patent and Trademark…

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Mobile payments drive in retail sector outlined by eBay

mobile payments John Donahoe, CEO of ebay

The massive online marketplace has ambitious intentions for testing the use of its services. eBay has now announced its intentions to put considerable testing into place in order to measure the behaviors of consumers who use its mobile payments services while they are in stores and restaurants throughout 2013. This is because its plans include the doubling of the current size of its PayPal business. According to the chief executive of eBay, John Donahoe, “Mobile is becoming the new normal.” He discussed a new partnership that the company has just…

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