Mobile payments in the United States are predicted to increase at a 48 percent compound annual growth rate, from $12.8 billion spent in 2012 to $90 billion by 2017, according to the latest research from Forrester.
eBay anticipates its mobile payment volume will exceed $20 billion in 2013. The company also said its PayPal unit will handle around $20 billion in mobile transactions this year. The figures are up significantly from what the company reported for 2012.
PayPal is partnering with retail and hospitality services firm NCR to offer consumers new mobile payment options at restaurants and retail stores.
PayPal is extending its fledgling mobile wallet service to five additional U.S. retail partners, increasing the number of physical stores supporting the payment processing technology to 18,000.
Square is rolling out a new mobile gift card service integrated with Apple's Passbook virtual wallet application.
PayPal is now selling its PayPal Here credit card reader at 1,800 AT&T Mobility stores across the country. The partnership represents PayPal Here's first U.S. retail deal.
eBay reported revenues of $3.4 billion for the third quarter of 2012, up 15 percent over the year-ago quarter.
Groupon is rolling out a new mobile payments processing platform that promises lower merchant costs than rival efforts from Square and PayPal.
PayPal is rolling out a mobile payments application optimized for Microsoft's Windows Phone operating system. The app joins PayPal's existing mobile services for Apple's iOS and Google's Android.
PayPal released an updated version of its Android payment application highlighted by a revamped user interface as well as new features including credit and debit card scanning.