Total value of mobile payment transaction will exceed $171.5 billion worldwide in 2012, meaning an increase of 61.9% compared to 2011, according to the latest figures provided by Gartner.
Posts Tagged: mobile-payment
PayPal has launched its own mobile payment solution, PayPal Here. The new service includes a free application and a secured card reader attachable to the mobile phone, transforming any iPhone – and soon, any Android smartphone – into a mobile payment solution. Along with PayPal Here, PayPal has launched the latest version of PayPal Mobile for iPhone, complementary application with PayPal Here, available for free in App Store.
AT&T Mobility, T-Mobile USA and Verizon Wireless have announced the formation of a joint venture chartered with building ISIS, a national mobile commerce network that aims to "fundamentally transform how people shop, pay and save."
IDC has released a new report, 2009 Consumer Mobile Banking Preferences Survey Results – Waiting for Takeoff, that reveals that mobile banking has seen an increase in usage and in institutions offering the service in the last year. In fact, reported mobile banking usage has almost doubled since last year’s survey.
The number of mobile payment users worldwide will exceed 108.6 million in 2010, a 54.5 percent increase from 2009, when there were 70.2 million users, according to Gartner. Mobile payment users will represent 2.1 percent of all mobile users in 2010.
IDC Financial Insights recently released a new report, which analyzes the mobile payment and mobile banking space in the Europe, the Middle East, and Africa region. The research group highlights that the mobile commerce payments market still has a long way to go before any serious impact will be felt by consumers or by the retail industry.
Visa and DeviceFidelity are working to allow iPhone users to make payments by simply waving their iPhone in front of a contactless payment terminal. The new technology, developed by DeviceFidelity and certified by Apple, combines a protective iPhone case with a secure memory card that hosts Visa’s contactless payment application, called Visa payWave. The technology will work for both iPhone 3GS and iPhone 3G devices.
VeriFone announced PAYware Mobile, a payment solution for the iPhone that brings card processing capabilities to small businesses.
PAYware Mobile includes a PA-DSS approved payment app and a card reader that slips over the iPhone to accommodate card swipes. It utilizes a secure magnetic stripe read-head and firmware certified to the Federal Information Processing Standard FIPS 140-2. Card details are immediately encrypted during the card swipe process, meaning no sensitive data ever reaches the payment app.
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