Mobile payments in the U.S. will triple in 2016

VeroPay App

One in 5 smartphone uses will mobile payments by 2016.

2016 will be a year of significant growth in technology. The number of people in the US using their phones to pay for goods and services at the point of sale will continue to climb steadily. According to the latest proximity mobile payments forecast from eMarketer, the total value of mobile payment transactions in the US will grow 210% in 2016, according to the latest proximity mobile payments forecast from eMarketer.

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World’s first bitcoin ATM gets 348 transactions in first 8 days

The world’s first ever permanent bitcoin ATM.

The first Bitcoin ATM in North America made a lot of hoopla when it went live in a Vancouver coffee shop last week. The ATM trades cash for Bitcoins. How many people actually used it?  Here are some of the numbers:

 

 

 

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Dwolla drops fees for transactions under $10 in prelude to larger announcement

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Dwolla is forever changing the way credit cards are transacted.

Online and mobile payment service Dwolla has announced that all transactions under $10 will have no fee from now on. This is of course great news for small businesses and merchants whose average transaction is below that. Anything above still carries the flat $0.25 fee…

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The Great Bank & Credit Card Backlash

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The smell of corruption is offending more than few nostrils

Futurist Thomas Frey:  Recent attempts by Congress and the Federal Reserve Board to curb the excessive fees being charged by credit cards, banks, and finance companies have resulted in a punitive industry response with interest rates and fees climbing in almost every category. This action has resulted in nothing short of a full-scale revolt by a victimized-feeling public.

 

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Intuit and Mophie to Offer the Complete Credit Card Solution for the iPhone

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Complete Credit Card Solution

If you’ve been looking for a better way to accept credit cards with your iPhone, Intuit and Mophie have teamed up and may just have the perfect solution for you — assuming you’re still rockin’ an older iPhone 3G or 3GS, that is (for now).

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Transform Your iPhone into the Swipe It Credit Card Reader

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Swipe It Reader

It lacks the subtlety of the Square payment system’s iPhone/iPod Touch credit card reader, but there’s just something about Macally’s new Swipe It Reader that makes it look so much more reliable and trustworthy. Maybe it’s because of the Swipe It Reader’s slightly bulky design that looks like the credit card readers we’ve been using at stores all these years? I’m not sure. But part of that bulk comes from the device’s spring-loaded arm which cleverly allows it to hold iPhones and iPod Touches wrapped in cases, or whatever future designs Mr. Ives comes up with.

 

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The Coming Era of Flexible, Frictionless Money

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Two months after PayPal opened its platform, 15,000 developers
had used it to create new payment services

The banks and credit card companies have spent 50 years building a proprietary, locked-down system that handles roughly $2 trillion in credit card transactions and another $1.3 trillion in debit card transactions every year. Until recently, vendors had little choice but to participate in this system, even though — like a medieval toll road — it is long and bumpy and full of intermediaries eager to take their cut. All of that is about to change.

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