With the introduction of mobile payments by MTS and SaskTel, customers of these provincial telecommunications companies can now pay with their phone. TD is the first financial institution to offer this service to MTS and SaskTel customers. Five mobile networks now provide Canadians with the ability to pay for purchases with a tap of their mobile device. [Read more…]
A new study from Juniper Research has determined that the total value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670bn by 2015, up from $240bn this year. These forecasts represent the gross merchandise value of all purchases or the value of money being transferred.
The new Mobile Payment Strategies report revealed that all segments will exhibit 2x to 3x growth over the next five years. This growth will be driven by the rapid adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers as people in both developed and developing countries use their devices for everyday transactions. [Read more…]