Mobile payments refer to payment services that are made through mobile devices. This may become the next disruptive technology, based on the growth in the number of mobile wallet apps globally and the adoption of mobile payment methods by large businesses like Starbucks Corporation (SBUX) which has been an early adopter of this technology.
The mobile payments arena is
experiencing massive growth, but the industry is still quite fragmented,
with numerous players competing for a dominant position. Plus, there
are impending security and privacy concerns over the mobile payment
technologies used.
The industry is likely to see
consolidation as large payment service and card companies buy out
smaller online networks in order to increase market share and revenues.
Internet retailers like eBay and Amazon.com, Inc. (AMZN) are also
expected to acquire companies and new technologies to expand. read more Mobile Payments.
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