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Mobile wallets will be in half of all smartphones by 2016

03/17/201503/14/2015 John Montgallo

Smartphone based payments apps are taking off and are expected to become major players next year. There is a reason that mobile wallets have been taking up such a central place in the headlines over the last little while, and this is because they are expected to become a serious part of the technology environment in the not too distant future. The idea is that it will help to make it much safer and simpler for consumers to shop online and in-store. According to certain players in the mobile technology…

Mobile wallets don’t feel as secure as Bitcoin to Americans

03/13/201503/11/2015 Jennifer Goula

A recent online survey revealed that consumers in the United States feel that cryptocurrency is safer. According to a recent survey of 1,400 online American customers, people are more comfortable with digital currencies such as Bitcoin than they are with mobile wallets and other types of payment app. The results of the poll were reported in the 2015 Future of Retail study by Walker Sands. The respondents to the survey were asked to rate the method of payments that they feel are the most secure. The majority of people who…

Mobile payments security continues to be a major issue

02/18/201502/16/2015 L. Green

Mobile wallets continue to gain momentum Mobile wallets are becoming more common as a growing number of consumers begin to rely on their smartphones and other devices to pay for products. These applications are designed to store information provided by retailers and other businesses, making it easier for consumers to make mobile transactions. The issue, however, is that mobile commerce is becoming an attractive target for malicious groups that want to exploit consumer financial information. According to a recent survey from LexisNexis Risk Solutions, attacks on mobile payments platforms are…

Amazon puts an end to its own mobile payments project

01/28/201501/27/2015 Stephen Vagus

Amazon Wallet has been cancelled due to poor reviews and performance Amazon has put an end to testing its own mobile payments service, which was called Amazon Wallet. The company had seen promise in the mobile commerce space and had wanted to offer its own payment platform in order to compete with others that had done the same. Unfortunately, Amazon Wallet received relatively poor reviews among its test audience, leading Amazon to put an end to the project and focus its attention elsewhere. Wallet aimed to store loyalty information for…

Increased awareness of mobile wallets may power growth in mobile commerce

01/14/201501/13/2015 Stephen Vagus

Mobile wallets are gaining more attention, allowing the digital commerce space to flourish The increasing awareness of mobile wallets may help power the growth of mobile commerce throughout the world, according to a new report from Infiniti Research. Mobile wallets are relatively simple applications available for smartphones and tablets. These apps allow consumers to store their financial information on their devices, which can be used to make mobile payments both online and at physical stores. These apps also store information from retailers, such as loyalty rewards and mobile coupons, making…