After recently writing articles (I, II) about mobile advertising, it seemed appropriate and interesting to check out the mobile payments industry next.
With smartphones and tablets now widespread, the mobile payments industry appears ripe for major growth in the next 5 years. Normally being ahead of the curve on mobile adoption, I actually found myself very uninformed on mobile payments. Maybe the central part of the country is just behind on this technology adoption as I've yet to run across a small business owner using a mobile card reader.
For now, the industry is very fragmented with numerous developments underway. Not to mention that concepts of whether mobile payments means the customer or the business uses the mobile device are mixed.
The potential in this sector has attracted big boys including Intuit (INTU), the PayPal division of Ebay (EBAY), and Google (GOOG) to develop various solutions. Also, traditional payment processors MasterCard (MA) and Visa (V) are working with various mobile payment systems so not to be left out. Numerous startups are working on solutions with Square the most visible.
Read the full article at Seeking Alpha.
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