By including a tipping option, mobile payment apps could lead to waiters and waitresses getting more tips.
Simply creating mobile-friendly versions of existing products and services will not be enough for banks to fend off challenges from non-bank competitors, such as PayPal, Google, Amazon and Square. That is the conclusion of a new report by Accenture on digital banking.
At its annual developers' powwow being held this week, Apple unveiled a number of features designed to make its iOS devices more attractive to IT departments and mobile payment folks.
Check out the hottest mobile IT news for Wednesday, June 4 including the explosion of the IoT market in the coming years, the growth of mobile contactless payments users, wireless infrastructure deployments pushing radio frequency power chip spending over $1 billion, the focus on customer acquisition and retention by mobile marketers and Sequoia Capital's $15 million investment in Indian mobile multiplayer gaming firm Octro.
Square is ditching its Wallet app and replacing it with Order--a new mobile payments app that allows customers to purchase products before entering the store. Pundits wonder if the mobile wallet experiment has failed.
The U.K. mobile payments system Paym, which has the backing of most major U.K. banks, launched this week with the ability to serve more than 30 million users.
Apple CEO Tim Cook announced this week that his firm has about 800 million iTunes accounts, up from 575 million in June 2013. Mobile payments could turn all of those iTunes accounts into a "gold mine," judges Nigam Arora, editor of the Arora Report and contributor to Forbes.
The number and total value of merger and acquisition activity in the mobile payments sector dropped significantly last year, but the sector is poised for strong growth, says Mooreland Partners.
Read the latest in mobile IT news for April 21, including how Nike slashed most of its FuelBand team, why slow response times kill mobile sites, which mobile payment service was the most used, the benefits of connected trucks and vehicles and the expected growth in the wireless network security market.
Facebook is planning to launch a mobile ad network this month, Re/code reports.