Mobile money is taking over, but do you know your PayPal from your Bitcoin?
Smartphones have transformed the way we live and work over the past few years, and now they’re coming after the way we shop and spend. Apple’s launch of a mobile payments system alongside its latest smartphones earlier this month was a measure of how the industry has grown as consumer habits shift towards a mobile-centered approach.
Recent research estimated that alternative payment methods such as e-wallets will be more popular online than credit and debit cards in just a matter of years, with the value of mobile transactions also set to increase to around $117 billion (£70.6bn). Alongside traditional powerhouses such as eBay and Amazon, there are hundreds of start-ups looking to gain a piece of this lucrative market, making it one of the most dynamic and developing fields in technology today.
More money, more problems?
This means that merchants and businesses all around the world are now looking to adapt mobile payments in order to ensure that they stay up to speed with their customer’s demands, with this coming holiday season set to break all records concerning the amount of money spent using mobile and tablet devices. But how good is your knowledge of the mobile money industry and its main players?
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