2014 is off to a strong start for the burgeoning mobile payments industry. For the first full month of this calendar year, headlines heralding the expansion of mobile payments were coming hot and heavy throughout January.
Below are some of the top stories to emerge in mobile payments this month.
On Thursday, Examiner learned that leading mobile payment solutions provider PayAnywhere has partnered with residential and commercial repair, maintenance, improvement and renovation experts Mr. Handyman, International.
Cash is trash. That’s a bold statement. But it’s one that was made without the blink of an eye by Forbes ahead of last weekend. In the article, contributing author Ryan Rommann says cash is now on life support. And the President himself is actively trying to pull the plug altogether.
Amazon is looking at getting into the mobile POS business, by possibly providing brick-and-mortar retailers with in-store checkout systems based on Kindle tablets. Details are sketchy and few, but the report points to the fact that the online giant recently hired some key engineers away from mobile checkout firm GoPago, as well as some key acquisitions made in the past year.
According to a recent study by Informa Telecoms & Media, service revenues or fees for various mobile payments services could break the $37 billion mark by the year 2016.
By 2017, alternative payment methods such as e-wallets will be more popular online than credit and debit cards, according to research by Worldpay. Increased smartphone penetration is set to accelerate the development of mobile payment services.