Kevin’s Mobile Money News Weekly is an online newsletter made up of the most interesting news, articles and links related to mobile payments, mobile money, e-wallets, mobile banking and mobile security that I run across each week. I am specifically targeting market size and market trend information.
Bango forecasts that in-application charging in 2011 will grow more than 600 percent to account for close to 30 percent of all mobile application payments.
ABI research has announced that about 50 percent of smartphone users are planning to use their devices for mobile banking, including mobile shopping. A parallel announcement this week highlighted the ABI survey findings when Wells Fargo began rolling out its mobile banking pilot.
Mobile banking impacts consumers' bank selection, according to the Mobile Banking Perception Study by global market research company Synovate. Perceptions change about a bank if it does not offer mobile banking services and the study shows that about 50 percent of consumers of this service use it for stock trading.
Jack Dorsey, most famous for co-founding Twitter, is not content with having set the world of communication alight. Now he has turned his attention to transforming financial transactions using only a small white plastic square and little bit of clever code.
PayPal is upbeat about its future as it eyes the potential of becoming your “Wallet in the Cloud” for everyday, real world purchases in bricks and mortar shops.
Google recently revealed a new smartphone that includes a chip to let users make mobile payments by "waving" the device over a reader.
Mobile payments in the U.S. are expected to grow at a 68 percent compounded annualized growth rate over the next five years, fueled by a growing smartphone share of the mobile phone market.
U.S. Bank and Visa continue to be at the forefront of mobile payments innovation, partnering with DeviceFidelity, FIS and Monitise to introduce an innovative new way for customers to make purchases using their mobile phones. Customers can simply wave their phone in front of a Visa payWave contactless payment terminal in order to pay.
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Apple has been using its own EasyPay mobile payment technology in its stores for years. Now, Old Navy will begin piloting the EasyPay system in select stores. Although essentially the same device, the Old Navy system will be called ZipCheck and will allow customers to pay for items throughout the store, eliminating backup at the register.
The payment industry is experiencing a massive sea change as credit card companies and payment service providers dangle open APIs for developers to create innovative online payment applications, but they add that an app's novelty factor does not guarantee success as much as being user focused, secure and convenient.
PayPal execs say future growth will come from regular online payments as well as from payments made through cell phones, either online or using the phone as a mobile wallet.
Earlier this month, Google waved around a prototype Android phone with a special chip that lets customers pay simply by waving the phone near a cash register. Known as near field communication (NFC), the trick is to use short-range radio signals to send your credit card or bank account information directly to a register so that you don't have to swipe or sign for things.
For the second year in a row, mobile holiday shopping on eBay peaked in the United States and worldwide on the second Sunday of December—the day the e-commerce giant calls “Mobile Sunday.”
Google has been showing off Android phones with NFC chips in them that can power mobile payments. The Nexus S, is the first to ship with a near field communications chip, and the technology could be the key to getting into mobile payments. These are the same chips in some credit cards today.
Kevin Benedict, SAP Mentor, SAP Top Contributor, mobile industry analyst and experienced mobile industry executive, offers both one and two day onsite workshops designed to educate and inform executives and management teams on enterprise mobility and mobile strategies for businesses. This workshop is designed to provide a complete overview of enterprise mobility and what it means to the business. The workshop is customized based upon the needs of participants. For more details visit http://mobileenterprisestrategies.blogspot.com/p/workshops.html.
Recent Articles by Kevin Benedict
List of Submitted Questions for SAP's Mobile Business Unit
Mobile Retail Applications a Transformational Trend
SAP Influencer Summit 2010 Report on Enterprise Mobility
What I Learned about Mobility at the SAP Influencer Summit 2010
HTML5 and Workforce Management and Service Optimization Solutions
You can follow me on Twitter @krbenedict and read my blog, Enterprise Mobility Strategies.
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Kevin Benedict, SAP Mentor, SAP Top Contributor, Mobile and M2M Industry Analyst
Phone +1 208-991-4410 Follow me on Twitter @krbenedict
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Full Disclosure: I am an independent mobility consultant, mobility analyst, writer and Web 2.0 marketing professional. I work with and have worked with many of the companies mentioned in my articles.