Tag: google wallet

Survey highlights the growth of Apple’s mobile payments service

| March 16, 2015

Apple Pay is gaining momentum among iOS users

Baird Equity Research has released the results of a new survey concerning iPhone users and Apple Pay. Apple’s mobile payments service was released in October of last year and has managed to find significant momentum despite the short period of time it has been available for. The service can be used on both the iPhone 6 and iPhone 6 Plus, but it is not available for other iOS devices at this time. Apple Pay is expected to be compatible with a smartwatch that Apple is planning to release at some point in the future.

PayPal leads in mobile payments, but Apple Pay accounts for 6% of all in-store mobile transactions

According to the survey, 40% of online consumers made an in-store purchase with a mobile device. PayPal was the most preferred application among this consumers, with Google Wallet accounting for 11% of these transactions. Apple Pay only accounts for 6% of in-store mobile payments, but a significant portion of iOS users currently use the platform regularly. Approximately 40% of iPhone 6 users  make use of Apple Pay to purchase products in physical stores as well as online.

Apple Pay is beginning to become more popular among retailers

Mobile Payments Survey - highlights growthThough PayPal remains the leading entity in mobile payments, Apple Pay is expected to catch up quickly. The service has the support of several major retailers, many of whom want to engage mobile consumers more effectively. These retailers partnered with Apple for the launch of the mobile payments service and have begun to find significant success in the mobile space as a result. As more retailers show support for Apple Pay, the service may begin to play a larger role in the overall mobile payments space.

Young consumers are more likely to participate in mobile payments

Notably, young consumers, between the ages of 18 and 24, are the most likely to make in-store mobile payments. Such transactions had the highest frequency among this demographic, according to the survey from Baird Equity Research. The survey notes that these consumers tend to make a mobile transaction in a physical store as many as four times per month.

Softcard to shut down its mobile payments apps

| March 3, 2015

Softcard will be discontinuing its apps for Android and Windows Phone

Google’s recent acquisition of Softcard, a mobile payments platform formerly known as Isis, could spell the end for the payments service. Softcard has announced that it will be shutting down its applications for the Android and Windows Phone operating systems. While there are many mobile payments services available for the Android platform, including Google Wallet, Windows Phone has very limited options when it comes to mobile commerce. The move could leave those using Windows Phone out of the mobile payments space for some time.

Mobile payments firm finds modest success after its initial launch and rebranding

Softcard was launched as a joint venture from AT&T, Verizon Wireless, and T-Mobile. The platform had received strong support during its various stages of development, with many believing that it would change the mobile commerce space. After its launch, however, Softcard had only managed to find modest success. A rebranding effort last year did little to help the company, apart from distancing it from political issues that have emerged in other parts of the world.

Windows Phone users may be left out of mobile commerce after Softcard app shuts down

Mobile Payments - Softcard shutting downThe Softcard app currently serves as one of Microsoft’s entries into the mobile payments space. While Microsoft is not responsible for Softcard, the company did support the application on its Windows Phone platform. Without Softcard, Microsoft may have to look for a new way to establish some semblance of a presence in the mobile commerce market. Until that time, however, Windows Phone users will not be able to participate in mobile commerce, which may cause some frustration among these consumers.

Softcard app will continue to work until the company shuts it down in the future

Softcard has not announced a definitive date when its application will no longer be available on the Windows Phone and Android platforms. The company has announced that the app will no longer be available for these platforms in the future. Currently, those with Softcard accounts can continue using the application to make mobile payments as they see fit.