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LG launches delayed mobile payment system LG Pay
LG has managed to launch its heavily delayed mobile payment service dubbed LG Pay on Friday, June 2. The digital wallet will compete with other wallets like Samsung Pay and Apple Pay. According to the Korea Herald, LG revealed that it digital wallet is based on the Wireless Magnetic Communication technology, which will allow users to make payments [...]
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Mobile wallets poised for growth: A new research study
Two out of three US smartphone users have made a mobile payment in the past 12 months; two out of five have a mobile wallet on their phone; and one out of five has used one of the Pays (Apple Pay, Android Pay, Samsung Pay). Only 1 out of 20 use it once a week [...]
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Competition increases for China’s $5.5 trillion mobile payment market
China’s mobile payment market is more than 50 times bigger than that its US counterpart sitting at $5.5tn and is now being shaken up by its underdog Tencent, which is snatching market share from rival Alibaba. Alipay, which Alibaba launched in 2004 as a PayPal-type service to facilitate payments on its Taobao e-commerce platform, has long dominated [...]
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To ‘Pay’ or not to ‘Pay’? The choice around mobile payment
People don’t use their mobile phones to make telephone calls nearly as much as they used to. They are using them to surf the internet, send instant messages, even wake them up in the mornings. The relentless wave of mobile-inspired innovation is continuing and now includes mobile payment. Issuing banks often ask me about the [...]
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HCE – The way to move mobile payments forward fast
No personal consumer device seems to have had the same impact as the smartphone. Unbelievably it’s only ten years ago that Steve Jobs announced the iPhone at a Macworld convention. Now over a billion iPhones have been sold. With the speed and scope of change in the mobile space, it can be hard to separate [...]
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