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The value of financial transactions carried out via mobile phones will reach $245 billion worldwide by 2014 according to a new report by Ernst & Young. Read Original Content
According to a recent announcement PayPal is now processing over $10 million per day in mobile transactions and expects $3 billion total in 2011. Read Original Content
Research by Gartner shows that approximately 141 million consumers will have made payments using smartphones by the end of this year, up 38 percent from last year. Read Original Content
Pyxis Mobile provides an agile, powerful, and secure mobile enterprise application platform. It enables rapid cross-platform application development, unlimited data integration, enterprise-grade security, and the unique ability to change and update applications in real time. This newsletter is sponsored in part by Pyxis Mobile, http://pyxismobile.com/
Macy’s and Bloomingdale’s are testing mobile devices in 350 stores to engage customers with products and help increase sales. Read Original Content
CitiBank has been promoting their new iPad app that gives customers a range of banking features that includes checking balances, controlling cash flow, paying bills, transferring funds, accessing rewards and locating nearby Citibank ATMs and branches. Read Original Content
An article written by the Center for Global Development explains that in developing countries mobile payments are more efficient and easier for people receiving funds than traditional cash transfers. The IMF referenced the article when reviewing economic projections for Africa and the Middle East. Read Original Content
Google has enlisted Visa in its effort to push mobile payments, striking an agreement to allow Visa account-holders to pay for store purchases with their smartphones. Read Original Content
During an interview with eMarketer, Starbuck’s VP of Digital Ventures explained “within nine weeks of the national launch of mobile payment, customers in stores paid more than 3 million times using our mobile payment app, and this number continues to grow at a steady rate”. Read Original Content
The World Payments Report 2011 projects that mobile payments will make up 15 percent of all credit card transactions in 2013 and are poised to overtake plastic card payments in a decade. Read Original Content
The United Kingdom leads Europe in implementing NFC payments with over 70,000 payment terminals. Read Original Content
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Kevin Benedict, Independent Mobile and M2M Industry Analyst, SAP Mentor Volunteer
Follow me on Twitter @krbenedict
Join the SAP Enterprise Mobility and Sybase Unwired Platform Groups
Full Disclosure: I am an independent mobility analyst, consultant and blogger. I work with and have worked with many of the companies mentioned in my articles.
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