A Look Back at 2013’s Top Stories in Mobile Payments

A Look Back at 2013's Top Stories in Mobile PaymentsWith 2014 fast approaching on the horizon, what better time than now to take a brisk look back at the top stories within one of the fastest-growing segments of the mobile industry – mobile payments.

Here are some of the most impactful and promising developments in the mobile payments arena for 2013, all of which portend favorably for the industry’s continued growth and expansion in the New Year.

MasterCard is wasting no time this week as Mobile World Congress 2013 gets underway. This morning in Barcelona, MasterCard – as expected – introduced MasterPass, which is being hailed by the company as “the future of digital payments.”

Troy Alstead, Starbucks’ chief financial officer and chief accounting officer, dropped a mobile bombshell at the Jefferies Global Consumer Conference this week. Mobile payments are fast-becoming a hot way to pay for a hot cup of joe at Starbucks.

On Wednesday, MMW received a sneak peak at a forthcoming major industry report that shows 1 in 3 restaurants will use some form of mobile payments within 5 years. MMW will be able to show the findings of the full report once the study’s embargo lifts next week.

Isis, the long-hyped mobile commerce joint venture created by AT&T Mobility, T-Mobile, and Verizon Wireless, has just announced the latest version of the Isis Mobile Wallet is now available in the Google Play app store. If you own an Isis Ready smartphone, the Isis Mobile Wallet will let you pay for products at contactless payment terminals and save money through special offers and loyalty cards at participating merchants.

With mobile payments and digital wallets increasing in popularity with each passing season, this young industry is now heavily influenced by a handful of players deemed most trusted by consumers. According to Forrester data based on a survey of more than 4,000 respondents, 31% of US online consumers who own a mobile phone are interested in or already use mobile payments for in-store purchases, up from 18% in 2011.

More than half of U.S. consumers say traditional cash registers are “outdated.” That’s according to a new report from I Love Velvet, a Mobile Point-of-Sale (MPOS) hardware and software innovator.

This morning, MMW was briefed by representatives from MasterCard regarding the company’s new partnership with PayAnywhere, a professional-grade mPOS solutions provider. As a result of the new partnership, financial institutions – such as independent banks and credit unions – now have an added resource to help their small business customers accept payment cards more easily.

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