mobile payments

Mobile Payments to be Mainstream in Four Years

Eight in ten business leaders believe mobile payments will become mainstream within four years, research by KPMG has revealed. The KPMG survey of 1,000 chief executives found that 83% predicted that the use of smartphones to make payments or carry out bank transactions would be widespread by 2015, while just under half believed it would take just two years for mobile payments to gain mass-market acceptance. Convenience was cited as the main reason for the growth in mobile payments over traditional banking methods, followed by simplicity of use and low cost. Mobile payments can range from online payment processing systems such as PayPal, to mobile banking where banking services are accessed via a mobile phone. Less familiar options include ‘M-wallets’, where users’ SIM car... »