Banking association releases standards concerning mobile commerce Mobile payments have been growing rapidly in Hong Kong over the past few years as the number of smartphones and tablets grows. Consumers are showing strong interest in shopping and paying for products using their mobile devices, but there are relatively few standards in place that govern the parties that have invested heavily in mobile commerce. The Hong Kong Association of Banks has moved to change that, issuing a Best Practice of NFC Mobile Payments report. Report based on data collected by financial…
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Mobile payments may be a boon for disaster recovery
Mobile donations help raise money more quickly for disaster recovery efforts Mobile payments are often seen as a way for retailers and other businesses to engage consumers that have become tethered to smartphones and tablets. The mobile commerce sector may prove quite beneficial to charitable organizations that assist in recovery after a natural disaster, however. Recent natural disasters in Japan and the Philippines have shown that mobile devices can increase the inflow of monetary support for those suffering from catastrophic events, especially when these devices are being used to promote…
Read MoreMobile payments partnership opens between Scentsy and PayAnywhere
These two companies will work together to provide independent consultants with a new transaction method. The direct selling fragrance company, Scentsy, has just announced that it will be working with PayAnywhere as its choice of mobile payments processing partner to offer its consultants a new way to complete transactions from their customers. The award winning credit card reader and app will be used to process purchase transactions. This means that Scentsy independent consultants across the United States will now be using PayAnywhere to be able to receive credit card mobile…
Read MoreMobile security risks grow for small businesses with mobile payment use
Though the door to opportunity may open through this technology, it also presents vulnerabilities. The American smartphone payments market is being powered primarily by small businesses that are using this technology to save money and offer convenience to their customers but it is also opening these companies up to a number of mobile security risks. At the same time, this industry is only expected to continue to grow over the next few years. Forrester Research has predicted that payments over devices such as smartphones and tablets will increase explosively from…
Read MoreMobile payments primed to break the $1 trillion mark in 2 years
A recent report is showing that this important achievement could be made by 2015. According to experts in mobile payments, the use of smartphones for this purpose – as opposed to using credit and debit cards – may rise to the point of being a $1 trillion business by the year 2015. Some experts are crediting the introduction and use of innovative apps that are breaking new ground. Though mcommerce is no longer considered to be a channel that is brand new. However, the mobile payments field, in which smartphones…
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