Ninety-four percent of people in the U.S. are comfortable with wallet app security levels. Consumers are placing a growing level of trust in mobile payment security and smartphone based shopping, particularly in the United States. In fact, many consumers expressed greater confidence in their devices than the security of stores themselves. Interestingly, while the United States has not seen rapid adoption rates for mobile wallets, it doesn’t seem to be a lack of trust presenting the greatest barrier. This goes against many of the main predictions about the use of…
Read MoreTag: mobile payments market
Samsung to take its mobile payments into Chinese market
The tech giant will be following Apple into that space and claims to support credit and debit cards from 9 banks. Samsung has announced that its mobile payments service has now launched for the first time within the Chinese market, where it will be joining an exceptionally crowded space that already includes its top rival, Apple. Apple Pay stepped into the second largest economy in the world almost a month and a half ago. China also happens to be the largest smartphone market in the world and Samsung has managed…
Read MoreMobile payments could nearly eliminate the need for plastic cards
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…
Read MoreMainstream adoption is eluding mobile payments
Mobile commerce continues to be on the cusp of going mainstream Mobile payments have been on the verge of becoming mainstream for years now. The idea is attractive to people that have become very reliant on smartphones and tablets, but it has yet to take hold with most people. The idea of shopping from a mobile device is very similar to the concept behind e-commerce. Shopping online is, perhaps, one of the most significant trends to emerge in the retail and business sectors in the past decade. In general, however,…
Read MoreMobile payments facing tremendous risks, says study
Just as the transactions are beginning to gain some credibility, U.K. risk analysts say struggles are ahead. The adoption of mobile payments has been far slower than expected, and just as some were beginning to think that they were finally taking off, risk analysts from Riskskill, a U.K. consultant, have released a report that assesses that global market in a much more sobering light. It could be that there are a broad number of challenges and risks associated with that form of transaction. According to Bill Trueman, the CEO of…
Read More