Near-field communications technology has failed to gain traction for mobile payments, Gartner noted, forecasting that NFC will account for only 5 percent of the mobile payment transaction value in 2017.
Mobile payments company payvia announced today it acquired Mogreet, which provides mobile video and rich media messaging engagement solutions used by marketers, retailers and others including ABC, Bloomingdales, Cox Media Group, Emmis Communications, Fox Television, and Gamefly. As part of the transaction, Mogreet founder and CEO James Citron will become payvia's CMO.
The global volume of smartphones enabled with near field communications is forecasted to more than double this year, according to Strategy Analytics.
PayPal unveiled a revamped version of its Log In commerce identity system optimized for mobile devices.
Coffee company Starbucks continues to see significant traction in its mobile efforts--the company said more than 10 million people are "active" users of the company's mobile apps, and that the company now counts close to 4 million mobile payment transactions per week (up from 2 million near the end of last year and 3 million a month ago). This, the company said, accounts for roughly 10 percent of the company's total "U.S. tender."
With all the hype surrounding mobile payments, it's easy to be fooled into thinking credit cards and cash are a thing of the past. Stepping foot into any major retailer, however, proves otherwise. The stark reality is that mobile payment initiatives continue to spin their wheels, largely due to the poor value proposition being sold to merchants
Financial institutions should drop their obstructionist strategies on mobile payments and embrace them as an opportunity to generate revenue and provide customer value, advised Aaron McPherson, lead author of an IDC study on mobile payments.
When the are in stores, only one percent of consumers are using their smartphones to make contactless payments, according to the latest research by Strategy Analytics.
PayPal is rolling out a series of new tools enabling developers to offer more frictionless payment experiences within their mobile applications.
The main drivers for launching 4G LTE services are improved data speeds and new IP-based services, according to a survey of 300 participants by software giant SAP at the recently concluded Mobile World Congress.