Korean electronics conglomerate Samsung, which has surpassed Apple in the smartphone space, now wants to challenge Cupertino in the mobile payments space with its purchase of mobile wallet startup LoopPay.
Reflecting the recent explosion of mobile commerce activity, market research firm Gartner is forecasting that mobile commerce will generate half of all revenues from digital commerce by 2017, up from 22 percent of digital commerce revenue currently.
New technologies, such are digital wallets, cryptocurrencies, and mobile peer-to-peer payments, are transforming the way we transact our business, observes an article at MIT Technology Review."The smartphone is the catalyst for a lot of change in this industry," says Dana Stalder, a venture capitalist with Matrix Partners.
More than one-third of banking executives say that IT investment in mobile payments is the most important focus for them from a customer interface perspective, according to data cited in an infographic prepared by CDW.
Check out the hottest mobile IT news for Jan. 21, including the shutdown of Amazon's wallet app, updates for Google's productivity apps, SITO Mobile's takeover of Hipcricket, what companies are driving the semiconductor business and how biometric authentication app downloads will see a surge.
Check out the hottest mobile IT news for Dec. 23, including how enterprises are preparing for wearables, a review of the new Salesforce1 platform, the effect cheaper tablets and ultrabooks are having on emerging markets, how much NFC-enabled tech will make next year and Microsoft's new fitness Band sells out.
Check out the hottest mobile IT stories for Tuesday, Dec. 9, including Facebook bringing its search engine to mobile devices, Walgreens launching mobile app for constant medical advice, smartphone shipments surging 6.1 percent in Western Europe, conservative banks making foray into mobile payments and enterprises showing increased interest in mobile enterprise apps.
Check out the hottest mobile IT news for Dec. 4, including even more VC funding for ThinkingPhones, what will be staples in the office of the future, how Latin America fleets are modernizing, a helpful app analytic tool from App Annie and another mobile payment solution from Line.
Check out the hottest mobile IT stories for Wednesday, Nov. 12, including an Android user suing Apple for iMessage deliverability, Geisinger Health System to a mobile electronic health record, Imagination Technologies unveils dual-core processor for wearables, Asia-Pacific enterprises to move beyond "rudimentary" mobility and Singapore regulator probes StarHub's mobile network disruption.
The recently introduced Apple Pay makes mobile payments less "clunky, funky and junky," writes Samuel Greengard, a contributor to Baseline Magazine.