Here’s What’s Happening in Mobile Payments

Here's What's Happening in Mobile PaymentsIn case you missed ’em, here are some of the must-know events, occurrences, rumors, and realities involving mobile payments that earned some digital ink this past week.

By utilizing the fingerprint-sensing technology from its AuthenTec acquisition, Apple could easily turn the world of mobile payments on its head. Just imagine the possibilities of simply using your iPhone and your fingerprint to pay for everyday life.  Such a move would revolutionize the mobile payment experience, which currently remains a challenge for users. Presently, entering your billing and payment information from a mobile device is somewhat onerous.

NFC payments in the United States gained momentum recently as Isis announced new partnerships with American Express and Chase. The partnerships follow a July 30 announcement that Isis will roll out nationally later this year following two pilots in Austin, Texas and Salt Lake City, Utah.

The market for tools that help consumers buy goods using mobile phones is getting crowded, inundating small businesses, putting off venture capitalists and making it hard for many payment startups to make a buck. Just ask Kristy Fassio, owner of a Fit4Mom exercise franchise near Seattle. She’s getting bombarded with pitches from mobile and web-payment companies pledging to provide low- cost, easy ways for her to accept payments for the mom-focused workout classes she teaches. Some don’t even charge fees.

For some businesses, forgoing the standard brick and mortar establishment means having to rethink how to conduct everyday business actions. Enter PayAnywhere. The premium mobile payment processor allows owners and employees to move from appointment to appointment while seamlessly accepting credit and debit card payments using the smartphone or tablet they already have. Mobile businesses of all types provide essential services to customers at their convenience and PayAnywhere ensures merchants are experiencing the same level of convenience when it comes to accepting payments.

According to the latest data published by the Pew Research Center’s Pew Internet & American Life Project, 32% of U.S. adults now bank using their mobile phones. Pew also discovered that more than half of all U.S. adults (51%) bank online today. Pew commissioned Princeton Survey Research Associates International to conduct the survey.