Tag: mobile payments service

New report shows the number of users to use this form of mobile payments will almost triple by 2017.

A recent Juniper Research study indicates that there could be as many as 300 million consumers worldwide who will make mobile contactless payments by the year 2017, which is a huge increase from the slightly more than 110 million that utilized this mobile payment service in 2013.

Contactless card rollouts are gaining momentum in many countries across the globe.

According to the study, several markets may soon be adopting contactless payments for mobile due to the success and popularity of contactless debit and credit cards. In addition, the introduction of contactless cards also lead to an increase in Point of Sale (POS) terminals equipped with Near Field Communications (NFC). It has now become standard for leading POS vendors like Ingenico and VeriFone to ship most of their terminals with NFC.

However, the research director and author of the report, Windsor Holden, stated that stakeholders need to work on their efforts to increase awareness among consumers regarding mobile contactless payments. Furthermore, he said the value proposition also needs to be taught to retailers. Holden commented that contactless payment technology is mainly “being sold to retailers on the basis of faster throughput at the POS. The other critical opportunities offered by contactless – such as consumer engagement and product upselling – are much lower on their radar.”

The cost of mobile contactless payments cards is higher than plastic cards.

The Juniper study also noted that NFC rollouts have been held back due to the lack of a clear business model. Currently, it costs more to issue a mobile payment card than it does a plastic card.

In addition, it is likely that the mobile contactless payments market will receive a significant boost from the expected launch of Apple’s iWallet service. That being said, currently, it is not clear if extra POS upgrades will be necessary once the service is launched. Moreover, it has not been officially confirmed that Apple will be releasing a mobile payments service or that it will feature NFC technology. This isn’t the first time NFC rumors have been linked to Apple, but nothing has ever come of these rumors.

New service has been put to trial in Toronto, Canada

PayPal has brought a new mobile payments service to Toronto, Canada. The company has been working to further establish its dominance in the mobile commerce field by providing businesses and consumers a way to connect to one another more effectively throughout mobile devices. In Canada, consumers are beginning to use their smartphones for much more than just communication. These people are beginning to shop for products and pay for services from their mobile devices more frequently, increasing the demand for comprehensive mobile commerce services.

Mobile payments now supported by 50 bars in Toronto area

PayPal has partnered with 50 bars in the Toronto area in order to make mobile payments possible among consumers. Those using the PayPal mobile application can make payments at these bars with their smartphones. PayPal has launched similar services in the U.S., Australia, and the United Kingdom and has received strong support from consumers in those countries. The application also has a unique approach on the matter of security.

PayPal app takes a unique approach to mobile commerce security

In order to place an order at a participating bar in Toronto, users of the PayPal app must “check-in” using the app’s location-based features. After doing so, consumers can place orders for food. In order to pay for the order, the application will require that the user takes a picture of themselves. This picture will be made available to staff as a form of authentication. The application can also be used to find nearby stores that also accept PayPal mobile payments.

PayPal focuses on restaurants for trial of new mobile services

The launch of PayPal’s service in Toronto represents a sort of trial. The company is testing the enthusiasm that Canadian consumers have when it comes to mobile commerce. If the company’s service receives strong support, it will likely make the service more widely available throughout the country. PayPal often chooses restaurants for these sorts of trials because they are places where consumers expect quick and convenient service. If PayPal’s services do well in that sort of environment, they are likely to perform well in retail environments as well.