Archive | Mobile Payments

Federal Reserve Provides New Insight on Mobile Money Services

Federal Reserve Provides New Insight on Mobile Money Services 300x211 Federal Reserve Provides New Insight on Mobile Money ServicesThe use of mobile phones to access a bank account, credit card, or other financial account continued to increase in prevalence among adults in the United States last year, according to the Federal Reserve Board’s latest report on the use of mobile financial services.

Details provided to MMW show that as of December 2013, 33 percent of all mobile phone users and 51 percent of smartphone users had used mobile banking in the past 12 months.

“This is an increase from 28 percent in December 2012 for mobile phone users and 48 percent for smartphone users,” the Fed’s report summary reads. “The use of mobile phones to make payments at the point-of-sale has experienced substantial growth over the past several years, increasing threefold between the 2011 and 2012 surveys, and again between 2012 and 2013.”
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Mobile Payments: Where We’ve Been & Where We’re Going

Mobile Payments Where We’ve Been and Where We’re Going 261x300 Mobile Payments: Where We’ve Been & Where We’re GoingThe following is a guest contributed post from Toffer Grant, CEO and Founder of PEX Card.

When leaving the house over the past decade, a typical person’s checklist has morphed from “keys and wallet”, to “phone, keys and wallet” to “smart phone, keys… and do I really need my wallet?” With the evolution and growth of mobile payment solutions, now more than ever, you can cross “wallet” off of your mental checklist.

New applications and venues for accepting mobile payments have revolutionized online sales for merchants and consumers alike.

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Posted in Announcements, Marketing Strategy, Mobile Commerce, Mobile Devices, Mobile Payments, Mobile Shopping, News, Platforms, Predictions, Smartphones, Technology, Topics0 Comments

Free Tablet Payment Solution Comes to Retail

Free Tablet Payment Solution Comes to Retail 300x235 Free Tablet Payment Solution Comes to RetailIn the increasingly competitive world of mobile payments, retailers are bombarded with an almost incalculable array of potential solutions for their payment processing needs.

This week, PayAnywhere may have effectively upped the ante in mobile payments by launching its first ever free touchscreen tablet and stand with built-in credit card reader.

The announcement came at the ETA TRANSACT conference in Las Vegas.
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Juniper: Mobile Payments to Jump 40% in 2014

Juniper Mobile Payments to Jump 40 Percent in 2014 300x300 Juniper: Mobile Payments to Jump 40% in 2014If you thought 2013 was a solid year for growth in mobile payments, just wait until you see what 2014 has in store.

Juniper briefed MMW on Thursday about its latest projections, which call for the value of global payments via mobile devices to reach $507 billion this year, a rise of nearly 40% year-on-year.

The report’s findings – published in Mobile Payment Strategies: Remote, Contactless & Money Transfer 2014-2018 – indicate that growth would continue to be driven by purchases of physical goods via mobile devices. Continue Reading

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PayPal Wants to Know Where You’re Shopping

PayPal Wants to Know Where You’re Shopping 300x207 PayPal Wants to Know Where You’re ShoppingPayPal, in a bid to find out exactly who’s viewing the ads on their ad network, has linked up with Placed, a mobile location tracking firm, so that they can track real-world consumer visits to everything from fast food restaurants to designer clothing stores.

Approximately 125,000 people have signed up to be on a Placed panel of app users who, in exchange for things like gift cards and contest entries, will have their mobile location data precisely tracked by the company using GPS and Wi-Fi. After every visit to any brick-and-mortar location they choose, Placed will also validate the actual location by surveying their users on the places they visited, making sure that they have the correct location (This is especially important due to the fact that so many locations are in close proximity to each other).

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Global Mobile POS Market to Double This Year

Global Mobile POS Market to Double This Year 300x275 Global Mobile POS Market to Double This YearIf you’ve perused the archives around MMW lately, it probably didn’t take long for you to notice that the adoption of mobile devices for POS transactions is exploding worldwide.

The boom is a result result of retailers and consumers getting more accustomed to retailers asking for payment on mobile devices.

According to IHL Group, a retail market research firm, shipments of new mobile POS device shipments are expected to grow more than 95% worldwide and will surpass 108% growth in North America in 2014.

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Making the Most of Mobile in the Modern Dining Experience

Making the Most of Mobile in the Modern Dining Experience Making the Most of Mobile in the Modern Dining ExperienceAhead of the forthcoming Mobile Innovation Summit in Chicago, Illinois later this year, the folks at Mobile Payments Today have published a new infographic that explores the rapidly increasing importance of mobile payments within the modern dining experience.

“Mobile innovations continue to grow at a staggering pace and to win the game, your brand’s mobile app is going to need more than just a menu, nutritional information and restaurant locations,” says Alicia Kelso of Mobile Payments Today.

“If you’re not considering a mobile strategy,” she continues. “you have a lot of ground to make up: Experts predict the mobile payments industry will account for $1 trillion in global transactions by next year. Other research shows that 38 percent of U.S. consumers used a mobile coupon to purchase a product in-store, and that 35 percent of restaurant mobile apps include an ordering option.”
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