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Mobile payments could nearly eliminate the need for plastic cards

08/13/201408/11/2014 Stephanie Beck

Accenture Payment Services managing director Matthew Friend predicts that cards will go the way of the eight-track. The managing director of Accenture Payment Services, Matthew Friend, has published an article in Forbes that has predicted that the adoption of mobile payments could eventually make the use of ATM and credit cards nearly obsolete. If it were up to many retailers, credit card companies, and other financial institutions, smartphones would be the new plastic. There are many major players that are currently vying for dominance in the mobile payments market, ranging…

Mobile payments options to be offered by Facebook

04/17/201406/06/2014 Jorge Gonzalez

The social network giant has nearly obtained the necessary Central Bank of Ireland approval for funds exchange. Facebook Inc. is extremely close to being able to join in the race for mobile payments, in which there are a rapidly growing number of participants, as it works to boost the availability of its electronic money services. The company is moving ever closer to receiving the approval they need to allow users to send and receive funds. At the time of the writing of this article, the Central Bank of Ireland had…

Mobile payments at Starbucks will soon allow tipping

03/14/201403/12/2014 Jorge Gonzalez

The exceptionally popular smartphone app will soon be allowing patrons to leave a tip. Starbucks, the prime example of the way that mobile payments can be successfully implemented and broadly adopted by consumers, will soon be adding a new feature to its smartphone app, which will be allowing customers to leave a tip for their barista. The question is whether or not people will actually use this tipping feature on the updated app. The Seattle based coffee chain has announced that the option for tipping on its mobile payments app…

New study shows that people are acclimating to mobile payments

03/10/201403/08/2014 Stephanie Beck

Consumer behavior concerning mobile commerce is beginning to shift MasterCard and PRIME Research have released a new study that highlights consumer behavior when it comes to mobile commerce. The study shows that people are quickly becoming very comfortable with the concept of mobile payments and shopping for products from a mobile device. This is partly due to the growing number of people that have access to smartphones and tablets. This increasing exposure to mobile technology is also causing an increase in the demand for mobile-centric services. Mobile commerce is moving…

Mobile payments may find strong growth in the US

02/26/201402/22/2014 Stephen Vagus

The US may become a prominent mobile commerce market in the near future Mobile payments may be set to see explosive growth in the U.S., according to analysis from BI Intelligence. The firm has estimated that global mobile commerce spending in 2013 reached $223 billion, approximately 4% of the total credit and debit transactions made in that year. The U.S. has been lagging behind the Asian-Pacific and African markets, however, U.S. consumers have been growing more interested in mobile commerce over the past year. Mobile transactions continue to find strong…