Everyone is talking about new mobile wallet technology

Mobile Payments

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…

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Consumer Reports says that mobile commerce may be more costly to consumers than originally thought

MCommerce

The hype surrounding NFC technology and mobile payments may be little more than over-exaggerations coming from the companies backing the emergence of mobile commerce. According to a new report from Consumer Reports, a product review and ratings firm, electronic payment methods still have a long way to go before mobile commerce can win the hearts of consumers. This may be bad news for several big-name tech companies that have been pouring resources into the development of mobile payments platforms. Companies and banks are currently vying for a share of the…

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What will it take to keep the M-Commerce ship afloat

M-Commerce

The NFC-driven mobile payment revolution may be coming to an abrupt end before it ever really gained any momentum. Analysts with Gartner Inc., a technology research firm, say that the prospect of mobile payments may be interesting, but the technology needed to facilitate this form of commerce is much more complex than the big players would have consumers believe. Many have stated before that the instigation of mobile commerce is seldom a singular effort. Companies interested in pioneering the field of mobile payments must garner the support of several thousand…

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Consumers prepare for the rise of NFC enabled devices for mobile payments

Mobile platform commerce Shopping

  As an increasing number of mobile device companies announce their intentions to release products that contain a near field communications (NFC) chip, consumers are preparing themselves to begin using these devices to replace their wallets and handbags for making purchases.  Google, for example, has already come up with the Nexus S cell phone from Samsung Electronics, which is NFC enabled, allowing for mobile payments.  This device was unveiled last December and has the necessary technology to transmit payment information or discount coupons in conjunction with a reading device at…

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Visa unveils plans for a mobile wallet to be released far before Google’s offering

Visa Mobile Payments News

  Visa is entering the mobile commerce arena with its recently unveiled plans to develop a mobile wallet to compete with Google’s offering. Visa, the global payments technology powerhouse, is joining the growing number of tech and financial companies pushing the world toward a cashless society. Visa’s payment platform will make use of NFC technology, as is the norm for such endeavors, but the company seems to have been developing their mobile wallet for some time. Despite only recently revealing their plans to release such a product, Visa has announced…

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