Consumers around the world are increasingly buying and making payments for everyday transactions using their mobile devices, with the total value of mobile payments expected to rise by $430 billion by 2015.
Black Friday numbers are strong across the board, according to initial reports coming in today from retailers and payments companies. As IBM reported earlier today, total online sales saw a surge of 20.7 percent in spending from last year.
Shoppers in the United States are increasingly going mobile in large numbers as they utilise the latest mobile technologies. These mobile consumers of goods and services – with the most connected and active of them now dubbed ‘mobile shopping warriors’ – will account for 28 percent of the $447 billion expected to be spent by American consumers in the coming holiday season.
Written by: Peter Dinham | Published in: MarketThere’s huge potential for further growth in mobile payments over the next few years, with only 2.1 percent of mobile users currently making m-payments, in a global payments market where debit cards continue to take marketshare away from credit cards.
Written by: Beverley Head | Published in: NetworkingThe mobile payments landscape is in flux, as higher smartphone penetration and a range of mobile payments options entice consumers to spend money on-the-move.
Braintree, a payments gateway that’s backed by Accel Partners and NEA, sounds like it has effectively doubled the volume of mobile transactions it sees per year to $2 billion. It now touts 40 million credit card accounts in its vault.
How does that compare to competitors?
Mirroring the pain that we’re seeing across the entire social gaming industry as players shift toward mobile devices, Facebook’s payments and fees revenue declined 9 percent quarter over quarter to $176 million from $192 million.
The mobile payments space gets a lot of attention, especially as it seems that a new startup or financial institution launches “a new way to pay, issue rewards or power transactions from a mobile phone” every second, to borrow Leena’s words.