Waiting for the New Mobile Payments Frontier
Sunday, May 29, 2011 10:30
The mobile phone will eventually take over people’s wallet, via replacing their credit cards, cash as well as coupons. However, it could still take some time before the new type of transaction becomes an everyday reality.
Though the mobile payments trumpet has been advertised for quite a lot, Google announced that consumers will keep hearing about the news over the next year that it will soon start allowing the customers to make mobile payments with an Android phone. Apple, Microsoft and Nokia, etc. are also working hard to integrate new technologies into mobile devices. And there are a few payment start-ups, including Venmo and Square.
Some big banks have also been heavily invested in this service. For instant, MasterCard offers PayPass, a service that enables customers to tap a small device against an electronic reader at checkout. It seems that everyone wants to grabe a share of the big business of ‘mobile-payments’.








