Mobile Payment Magazine

How to Ensure Secure Smartphone Mobile Payments

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Whether you’re a consumer, developer or investor delving into mobile payments technologies for personal or professional use, There are a number of important factors to consider when evaluating mobile payment technologies in the coming year.

Here’s your cheat sheet for owning your mobile transaction financial health. Ensure that your credit card information is:

  • Only sent to the venue’s POS system, rather than passing through third party services
  • Only stored on your phone, where it’s safest, and not in the cloud
  • Always encrypted when it is sent to the POS system, where the transaction is taking place

Read the full article, via CNN.

PayPal Reports 310% Increase in Mobile Shopping on Black Friday

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As iPhone, Android phones, and other smartphone sales take off, online shopping is showing a commensurate move to the mobile platform.

PayPal has released figures for Black Friday shopping sales, showing about 27% increase in overall Black Friday 2010 sales volume versus 2009 figures.

Even more notable, the company reported over 300% increase in mobile shopping for the same period versus the previous year.

Other data of interest:

  • The company reports that figures show the shopping season began on Monday, November 15, 2010.
  • Most popular Black Friday shopping time: 9:00 a.m. to 10:00 a.m. PST.
  • Black Friday 2010 total payment volume was 21% higher than Thanksgiving 2010 volume.

The PayPal numbers are a good indicator of overall trends, as PayPal processes 16.5% percent of U.S. eCommerce and 15 percent of global eCommerce.

Source: Business Wire

Mobile Shopping for Holiday 2010 Skyrockets

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With some Black Friday reports coming in from retailers, anecdotal reports have shown significant increases in mobile shopping activity following Thanksgiving this year.

According to the WSF blog, Ruelala.com attributed 19% of sales this weekend to mobile phones, a 10x increase over last year. Another online retailer, Gilt.com said that about 15% of total revenue came from mobile commerce over the same period, while eBay reported a 30% rise in mobile activity over the previous year.

via Shopping On A Phone Finds Its Customer – Digits – WSJ.