Apple Could Make Shopping Easier with Mobile Payments Service

Apple is reportedly looking into ways to expand into a mobile-payments service that would go beyond the iTunes store. Down the line, it might compete directly with the likes of Google, eBay’s PayPal and Square, which have become ubiquitous in mobile payment processing for physical goods and services. For Apple, that would likely mean consumers would be able to use their iPhones or iPads to make in-store and online purchases with greater ease. Continue reading Apple Could Make Shopping Easier with Mobile Payments Service

Square Market Can Now Make Every Business an Online Store

Square, the credit card reader and processor for mobile devices, recently introduced its own online marketplace, Square Market. This move is an expansion of its mobile payment services and a challenge to other online marketplaces, such as Etsy, Amazon and eBay. Square Market is the latest shopping system to support social selling. Its minimal approach allows social media platforms to become an online storefront for any business. Continue reading Square Market Can Now Make Every Business an Online Store

PayPal Will Process $3 Billion in Mobile Payments for 2011

  • PayPal’s new 2011 estimate for mobile payment processing of $3 billion is twice what the company estimated last year.
  • The $3 billion is divided into two categories: 1) individuals using Paypal’s mobile app to transfer money to each other, and 2) people completing purchases on mobile online commerce sites.
  • The PayPal online payments service (owned by eBay) has 8 million users and is processing up to $10 million/day in mobile total payment volume.
  • PayPal’s competitors include Google Wallet, Square and credit card companies.