Mobile Payments: Top Stories for March 2014

Mobile Payments Top Stories for March 2014Below are some of the top stories in mobile payments we’ve been tracking during the month of March.

Starbucks has something big shaking, and we mean that literally. In the coming days, customers who pay for drinks and food with their iPhones will also be able to tip their baristas via this innovative mobile platform.

If your mobile payments vocabulary doesn’t yet include the company PayAnywhere, it soon will. The rapidly growing and increasingly popular mobile payments processing provider is fast-becoming one of the most trusted solutions in a competitive field that only appears to be dominated by the likes of Square and a handful of other leading names.

Today, it seems like everything is going digital—but we still pay for most things the old fashion way. Humans made $15 trillion in retail transactions in 2013–$1 trillion of that was via e-commerce, $14 trillion was spent in physical stores and paid for with cash and credit cards.

Burger King says it will introduce its mobile payment platform for smart phones next month, and Wendy’s has been testing its own mobile payment app. Can the technology help reverse falling sales for major burger chains?

Things aren’t looking great for Chinese firms working in the world of mobile payments. The fast-growing trillion dollar industry—which includes online investment funds, virtual credit cards, and e-commerce–is facing new pressure from Chinese regulators and state-owned banks.