PayPal announced Cash for Registers, a new program that offers free credit, debit card, check and PayPal processing to any U.S. merchant that swaps out its existing point-of-sale system in favor of the PayPal Here m-commerce system.
eBay added roughly 2.8 million new customers through its mobile applications during the first quarter of 2013, with downloads of those apps now topping 162 million since late 2008.
PayPal is acquiring mobile software development startup Duff Research, a move to accelerate the rollout of its digital wallet efforts. Financial terms were not disclosed.
PayPal is extending its PayPal Here mobile payment processing platform to Europe, beating rival Square in the race to establish a beachhead on the other side of the Atlantic.
The gold rush to win the mobile payment race has attracted a lot of different companies, however it's still unclear which ones will succeed at this multi-billion dollar industry.The ecosystem is currently divided into two camps: vendor-driven and user-driven initiatives.
VeriFone Systems is pulling out of the mobile payment processing segment dominated by Square and PayPal, calling the market "fundamentally unprofitable."
Bank of America is the latest entrant into the booming mobile payments processing segment. The company announced it will introduce the Mobile Pay on Demand platform on Dec. 3.
Amazon is reportedly working on a mobile payments reader that would pit the digital commerce giant against services like Square and PayPal Here.
PayPal said it expects to handle $10 billion in transacted mobile payment volume in 2012, an increase of 150 percent over a year ago.
PayPal has acquired card.io, which develops credit card data capture technology integrated into applications including the PayPal Here mobile payment system. Financial terms were not disclosed.