Worldwide Mobile Payment Volume Up 76% to Reach $86 Billion in 2011

Worldwide mobile payment users will surpass 141.1 million in 2011, a 38.2 percent increase from 2010, when mobile payment users reached 102.1 million, according to Gartner, Inc. Worldwide mobile payment volume is forecast to total $86.1 billion, up 75.9 percent from 2010 volume of $48.9 billion. Despite...

Widespread Use of NFC Mobile Payments Still Years Away, Says Survey

Sybase, Inc. subsidiary, Sybase 365, has released the results of its survey about leading inhibitors of widespread adoption of mobile payments. According to the company, 40% of survey respondents cited the main inhibitor of widespread mobile payment adoption was a lack of coordination between key...

Verrus Mobile Payment

Founded in 2000, Verrus was an early pioneer in pay by phone services beginning with North America’s first pay by phone parking installation in 2001, and the “OrderUp” mobile phone food and beverage ordering system used at Safeco Field launched in the Summer of 2005. Today, the company’s service is...

Indian Banks Introduce Instant Mobile Retail PaymentsIndi

A new mobile retail payment system backed by some large banks in India will allow fund transfers between different banks and the use of SMS to make transactions from even low-end phones — features that are expected to make the system popular with consumers. Because the Interbank Mobile Payment Service...

Mobile Payments: Introduction

Mobile payment is a new and rapidly-adopting alternative payment method – especially in Asia and Europe. Instead of paying with cash, cheque or credit cards, a consumer can use a mobile phone to pay for a wide range of services and digital or hard goods such as: Music, videos, ringtones, online game...

SMS, USSD Based Mobile Payments

The consumer sends a payment request via an SMS text message or an USSD to a short code and a premium charge is applied to their phone bill or their mobile wallet. The merchant involved is informed of the payment success and can then release the paid for goods. Since a trusted delivery address has typically...

Mobile Web Payments (WAP)

The consumer uses web pages displayed or additional applications downloaded and installed on the mobile phone to make a payment. It uses WAP (Wireless Application Protocol) as underlying technology and thus inherits all the advantages and disadvantages of WAP. However, using a familiar web payment model...

New Mobile Banking via SMS in Jamaica

Anyone with a mobile phone can now bank on the go, thanks to FirstCaribbean International Bank’s Mobile Banking service. Customers of FirstCaribbean can do their banking via SMS text messaging and immediately receive their account information via return SMS text. After a successful launch of this new...

Cellfire

Cellfire connects brands to shoppers using a variety of digital communication means. Shoppers can access offers via mobile applications, mobile web, and text messaging, and can also interact from the computer or through a digital TV (from Verizon FiOS TV service). The companys provide consumers with...

Phone-Based Authentication Sees Strong Adoption in 2010

Usage of PhoneFactor’s products offer a good insight into adoption of phone-based authentication. The company offers phone-based two-factor authentication solutions to companies worldwide–users simply respond to a phone call or SMS text message from PhoneFactor to authenticate. The company has...