The environment is currently too scattered and lacking a standard for many consumers. The mobile payments world has been rapidly filling with various players that are hoping to become the leaders in what could possibly be an exceptionally lucrative venture. Many people believe that it won’t be long before smartphones replace plastic credit cards. Unfortunately, the struggle that is currently being faced in the progress of mobile payments is compatibility. Though many smartphone users are becoming interested in the method of making purchases as a number of major retailers have…
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MasterCard and Intel partner together for online and mobile payment transactions
MasterCard and Intel have announced a new collaborations where they will work together to improve the overall online shopping experience through the payment process and better security. This partnership will last several years and will bring together the expertise that MasterCard has in commerce and payment processing with the chip-based security strength of Intel. The concept of this collaboration is to make the checkout process much safer and easier for both online merchants and their customers who use the latest PCs such as thin laptops called Ultrabooks (for example, the…
Read MoreGoogle Wallet to give consumers spending money to drive use of mobile payments
Google Wallet has announced that it will be giving consumers $10 to spend through its new NFC mobile payment service in the hopes to encourage its use, as it has – so far – had a slow start. According to the official blog of the company, “We’re excited to give you a chance to try out Google Wallet and experience paying with a mobile phone.” Google aims to offer this opportunity to customers at select retailers in five American cities ahead of the holiday season. Those cities are: Los Angeles,…
Read MoreEveryone is talking about new mobile wallet technology
Though credit cards are still the standard here in the United States, in other parts of the world – such as Kenya – smartphones have replaced the card and card-reader technology which are now considered to be obsolete in that nation. In fact, among Kenyan adults, 70 percent use their mobile phones to pay for goods and services at a point of sale, and this country is not alone. Around the globe, an ever increasing number of people are using their mobile devices to pay for retail goods, groceries, and…
Read MoreThe ABC’s of mobile marketing and why your business needs to know
Despite the upsurge in the release of technology news regarding mobile payments, the companies involved, and how much it will be worth over the next few years, consumers remain confused about what mobile payments are and what they will mean to them. In response, industry experts have laid out the most important basic points. Mobile payments were designed to make payment transactions more convenient, using different kinds of technology, from near-field communications (NFC) to direct mobile billing. These are already increasing in popularity worldwide. By the year 2015, it…
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