Author: Stephen

2015 may mark a shift in the mobile payments industry

| January 8, 2015

Mobile commerce may become more refined in 2015

The future of mobile payments is still somewhat uncertain, despite the growing popularity of mobile commerce. In 2015, there may be many changes seen in the mobile payments space, especially as new services become available and more people become comfortable with the idea of paying for goods and services from their phones. Security may become a major issue in 2015 as organizations specializing in mobile commerce begin to take steps to ensure that consumer information is safe from exploitation.

Apple Pay may serve to bolster the power of the mobile payments industry

Much of the conversation regarding mobile payments is likely to revolve around Apple Pay this year. According to a recent report from Forrester Research, the new payment service from Apple is expected to energize the mobile market. The report suggests that Apple Pay will drive the adoption of new wearable devices that have been developed by Apple and help bolster mobile payments overall. The report predicts that mobile payments in the United States will grow to $142 billion by 2019, with new mobile services, like Apple Pay, making it easier for consumers to spend money through their mobile devices.

Security will become a major priority in 2015

Mobile Payments 2015Security budgets are likely to increase across numerous industries this year. Many businesses have begun to take security more seriously because of the high-profile data breaches that were seen in 2014. These companies are investing more in security measures, especially those designed for the mobile space. The report from Forrester suggests that security spending will increase this year, but so too will the number of data breaches.

Consumers are becoming more comfortable with mobile payment services

Consumers are expected to become more confident in mobile commerce in the coming year. New services are being launched that include features that consumers have been demanding. These services are also becoming more secure and offering better shopping and payment experiences. As such, consumers are becoming more comfortable with using these services to pay for the products that they are interested in.

ING shows support for Apple’s mobile payments service

| January 6, 2015

ING is preparing to embrace Apple Pay if it is launched in Europe in the near future

Dutch bank ING has begun showing support for Apple Pay. The new mobile payments platform from Apple has yet to launch beyond the United States, but ING is already showing support for payments made from Apple devices. Apple has seen significant promise in the mobile payments space and has responded to the increasing demand for payment services by offering its own. In the few months since Apple Pay’s release, it has become a prominent competitor in the new commerce space.

Apple Pay has yet to become a mainstream success among consumers in the US

Apple Pay launched with the support of thousands of retail organizations and the support of some of the largest financial institutions in the world. Despite this strong support, the platform has yet to become a mainstream success, but it one of the very few mobile payments services that is available for iOS devices. The success of Apple Pay has been growing slowly over the past few months, which may have slowed Apple’s plans to release the service in other countries.

Rumors suggest that Apple Pay may expand into Europe, the Middle East, India, and Africa

ING - Mobile PaymentsThere are rumors that suggest that Apple is preparing to launch Apple Pay in the United Kingdom. Other speculation suggests that Apple is preparing to launch its payment service in the Middle East, India, and Africa as well. The company has not yet announced any definitive plans for doing so, but growing demand for mobile payment services could draw Apple to other countries. In preparation for this potential expansion, banks like ING are beginning to show support for the payment service.

Some banks express concerns about Apple Pay’s security

While many banks have begun to show interest in supporting Apple Pay, others in the United Kingdom have expressed concerns over the security of the platform. Mobile commerce has begun to attract the attention of malicious groups that seek to exploit consumer financial information, and relatively few platforms have the security measures in place to protect this information.