Mobile payments popularity will be greater than credit cards in two years

Starbucks mobile payments popularity

A new U.N. report underscored the skyrocketing growth of PayPal, Alipay and other blockchain based transaction systems. A United Nations report indicates that by 2019 mobile payments popularity will “overtake credit cards” in terms of online shopping use. The report pointed to blockchain using systems as primary drivers for the popularity of mobile transactions. The United Nations body released a report saying that digital currency systems of payment will see greater use in e-commerce than debit and credit cards by 2019. The mobile payments popularity report was released by a…

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Mobile payments make up a third of the business at Braintree

Mobile Payments

The company has now revealed that it is experiencing massive growth in processing these transactions. According to the latest data that has been released by Braintree, it is now processing an annual $4 billion in transactions over mobile payments, which represents a tremendous third of the total annual processed transactions from the company, which is $12 billion. Braintree is racing along in terms of rapid scaling in order to beat out other platforms, such as Stripe. The total amount of mobile payments has managed to experience a quadrupling at Braintree…

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Mobile payments success for banks will depend on credibility

Future of Mobile Payments

The financial sector is working hard to distinguish itself in this industry where the competition is fierce. It wasn’t all that long ago that the financial sector – primarily banks and major credit card providers – were essentially the only consideration when it came to completing transactions, but the addition of mobile payments is drastically changing this environment. Buying goods and services can now be performed in a number of different ways, and banks aren’t automatically among them. Mobile payments – that is, paying directly through a smartphone or tablet…

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Mobile payments to reach $1 trillion by 2017

Mobile payments platform

The volume of money spent worldwide is expected to skyrocket over the next five years. According to a study performed by IDC Financial Insights, the mobile payments volume by 2017 will have reached over a trillion dollars, and this will be merely the tip of the iceberg as to the size it will achieve in the years that follow. The majority of the spending will be through mcommerce, according to IDC. The report based on the study also indicated that NFC mobile payments will eventually begin to gain popularity as…

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Mobile payments service launched by Atom Technologies

Mobile payments platform

The Financial Technologies subsidiary has introduced its new IMPS for merchants. Subsidiary of Financial Technologies in India, Atom Technologies, has unveiled its new Interbank Mobile Payments Service (IMPS), which will give merchants the ability to complete interbank transactions at any time of the day or night using their cell phones. A number of companies have already expressed intentions to use IMPS integration with their operations. Among those that will be adding IMPS operations into their portfolios through the Atom Technologies mobile payments will be Univercell Telecommunications India Private Limited, Reliance…

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