Mobile payments

Ideal Payments, a provider of payment solutions based in Baghdad, has launched a mobile payments app in Iraq.

Mobile technology is radically changing the way people hail taxis, book lodging, consume entertainment and find prospective dates, but the same magic isn’t happening with how people spend money.

History is filled with the stories of failed mobile wallets. The few that survive today have found a way to set themselves apart.

E-commerce payment gateway Instamojo is adding digital wallet payment acceptance to its platform, further pushing initiatives to have consumers in India using less cash.

As merchants and app developers seek to emulate disruptors like Uber or Airbnb by embedding payments in the user experience, the pressure will mount to be one of the few apps that consumers regularly use.

Chinese handset maker Xiaomi has entered China’s booming mobile payments market with Mi Pay, a contactless payments service running on China UnionPay’s network with support from 20 local banks and six mass-transit systems in the country.

The mobile wallet is transforming from a standalone app into just a feature of a bigger commerce system. Here are a few companies that have done away with the wallet concept.

Mobile can make in-store payments easier and add dimensions to marketing, but consumers will drive the shopping experience, placing unprepared merchants at a disadvantage.

As the threat of card not present (CNP) fraud continues to rise, a recent survey suggests many consumers are willing to take extra steps during a transaction to block online card fraud if their bank offered the option.

U.K.-based startup called Moneybox has launched a microinvesting app to encourage the millennial generation to invest the change that results from payments.