Mobile Payments: Moving Towards a Trillion Dollar Industry

Five years ago, the notion of paying for items via your smartphone was seen as something of a novelty. Although brands such as eBay managed to integrate mobile payments into their apps many years ago, thanks to its ownership of the ever-popular PayPal, the practice is still somewhat new.

Where companies such as eBay blazed a trail, however, others languished in the distance, either too cautious or too under-equipped to make mobile payments a standard part of their service. Unsurprisingly, though, things have changed and they’ve changed in a big way. Thanks to improvements in technology and the push by Apple and Google to introduce their own native wallets, almost every major consumer-facing company now offers a secure mobile payment system.

Simple Payments on the Move

By pr_ip 

Although some mobile users are still skeptical about making big money purchases via their smartphone (as they were with their computers a decade ago), many will now buy anything from used goods on eBay to flights across the world. Mobile purchases are now at an all-time high and this trend is predicted to continue over the next few years.

Estimates regarding the number of annual mobile payments vary between experts, but the majority

Read more ... source: Cointelegraph