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Tag Archives: Mobile phone payments

The rise of the mobile-wallet

PayPal recently revealed the findings of a study that paints a dim future for the traditional, man-made wallet due to the rise of the mobile wallet.

83% of respondents across five countries preferred the option of not carrying a wallet, according to the study conducted by Wakefield Research among 1,000 credit and debit card holders, ages 18 and older.

Uses of a mobile wallet include financial transactions that can be made both faster by cutting down queue time and easier by not burdening customers

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iBeacon vs NFC in the battle of mobile payment technology

A new feature called iBeacon, from Apple, is currently causing waves in the industry with fears that it could kill off NFC (near-field communications), the wireless technology associated with mobile payments. iBeacon, introduced as a feature of Apple’s iOS 7, uses Bluetooth Low Energy(BLE) to create beacons (small wireless sensors) that alert mobile phone apps when users enter them.

For example, you’re shopping in your favourite store and you walk into an iBeacon zone, in response your smartphone

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It’s a red light for digital payments technology within UK mobile industry

It started well, but now something has gone horribly wrong for digital payment technology within the UK mobile industry according to Dave Birch, director at Consult Hyperion.

Speaking at the Digital Services World Congress in London, Birch spoke about the mistakes made in the development of mobile payments to the point that the mobile payments industry is now grinding to a halt. Complex and expensive payment technologies that are hard to work with are being blamed for the struggle.

According the

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Mobile (NFC) payments driven forward by Visa and Samsung partnership

The time of paying through a mobile phone as the norm got one step closer this week following a deal between Visa and Samsung that will see Visa’s new payment app running on Samsung handsets. Customers will be able to add Visa payment account information via the app and then go on to make contactless payments using their mobile phones.

The companies’ joint support of near field communication (NFC) mobile payments will push the mobile payment technology forward on a global scale after they launch

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It’s a global market for NFC payments

Near Field Communications (NFC) technology has been slowly developing in the background of the payment systems industry for about ten years now. Today, with the rise of the smartphone, it is beginning to make an appearance in the retail market by way of mobile phone payments. This amalgamation is expected to make the market growth rate soar with figures predicted to reach $180 billion annually by 2017. This is according to a Juniper Research’s recent report on NFC Retail Marketing & Mobile

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