For Apple Pay and other mobile payments products, the task is to overcome consumer reluctance to use mobile payments because of security concerns.
The financial services industry is forecast by Frost & Sullivan to invest €87 billion ($110 billion) in payment technology by 2017, much of that going to mobile payments technology.
Check out the hottest mobile IT news for Sept. 18, including the expansion plans BlackBerry has for BBM uses, a new financing round for mobile marketing startup Swrve, the moves banks are making to convince wary Europeans on mobile payments, where white-box devices are going to flourish and the effect 4G LTE will have on the fixed wireless market.
Check out the hottest mobile IT news for Sept. 8, including the mobile payment plan in the UK for Vodafone, one firm's plans to use wireless systems in mussel farming, machine-to-machine communications and their effect on MVNO, the growth in the wireless packet core market and the latest financing boost for Wellframe.
Check out the hottest mobile IT stories for Sept. 2, including the credit card companies teaming with Apple for mobile payments, the global realization of LTE, the replacement of in-car entertainment by tablets, growth in the WLAN market and Amazon's plans for native mobile ads.
Apple will equip the iPhone 6, expected to be announced on Sept. 9, with a near field communications (NFC) chip to enable mobile payments, reports Wired, citing sources familiar with the device.
Check out the hottest mobile IT stories for Aug. 26, including the expected increase in tablet game revenue, what Apple's entrance into mobile payments means for the market, VMware's newest venture, the bipartisan push to ban in-flight calls and what mobile commerce has done for French e-commerce sales.
Check out the hottest mobile IT news for August 19, including the inclusion of smart armbands in the workforce, the huge expected bump in mobile commerce, the top three telematics companies, what mobile device JetBlue just furnished its in-flight crew with and the growth of the mobile app market.
Now that Amazon has decided to compete with Square and PayPal in the mobile payments market, does that mean mobile payments, after sputtering for years, is set to take off? Yes, says Alberto Jimenez, director of mobile payments at IBM.
Consumer fears over security and privacy continue to haunt mobile commerce, with a new study finding that nearly half of all consumers would never use mobile payment and banking apps.