Smartphone owners are beginning to learn more about contactless transactions. The results of research performed from eDigitalResearch have now been released, and they are indicating that consumer awareness in terms of contactless mobile payments is rapidly increasing. Among the participants in the study, one third have seen a point of sale device capable of the transactions. This doubles the number of people who had seen the devices in May 2012. That figure represents a massive growth in awareness of the technology and the acknowledgement of its availability in places where…
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Mobile payments survey shows most consumers interested
Research indicates that the majority of bank customers worldwide have interest in smartphone transactions. A mobile payments survey conducted by IMS Research that included the participation of 700 consumers from seven countries showed that 60 percent of banking customers are interested in the service. Respondents were from the U.S., the U.K., Turkey, Poland, South Korea, Japan, and China. The report about the survey was entitled “The World Market for Payment and Banking Cards – 2012 Edition”. Its author, Don Tait, is the one of the firm’s Financial and ID Technology…
Read MoreTotal mobile payments from PayPal reach almost $4 billion last year
The totals for the mobile payments in 2011 are in, and PayPal saw nearly $4 billion that year alone, which is an exponential growth from what it had seen the year, when sales totaled $750 million. These figures were released by David Marcus, the mobile vice president at PayPal, whose numbers created an even bigger perspective about the success of mobile payments by the company when compared to 2009, when they totaled only $141 million. According to Marcus, the initial expectations of PayPal were that 2011 would bring in $1.5…
Read MoreStudy shows mobile payment transactions to break hundred billion mark in the near future
According to research performed by Pyramid Research, as published in a recent report, over the next few years, mobile payment transactions will reach and surpass hundreds of billions of dollars. As mobile technology continues to play an increasingly important role in people’s daily lives, payment vendors are now scrambling to be able to take advantage of the opportunity created by those people’s desire to include the use of their mobile devices in their product purchasing decisions, including searches, price comparisons, store locations, and even the purchases themselves. According to the…
Read MoreConsumer opinion weighs heavy on NFC success
NFC technology may be on the verge of causing yet another revolution in the mobile market. Contactless payments are a popular use of the technology, but its capabilities do not stop there. Google recently announced their new Google Wallet project, which seeks to leverage NFC technology for payments while storing user’s financial data within a mobile device. Citigroup, MasterCard and Sprint Nextel also have similar products planned for the future. There have been some concerns about security, however, as mobile devices are often the targets of cybercrime. Despite doubts regarding…
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