The new phones and new payment products alone aren't expected to propel mobile payments.
In short, mobile payments will take off when iPhone5 hits the market with NFC.
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Layer in mobile payments and another company to consider is eBay, which owns PayPal.
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He cited mobile payments and outbound travel and tourism as two promising market areas.
Merchants who accept Serve mobile payments will enjoy a streamlined option for processing and settlement.
The consultation will also cover mobile payments, tipped to be the main replacement for chequebooks.
Banga is banking on prepaid cards, e-commerce and mobile payments to diversify MasterCard's customer base.
Jordan is also turning to mobile payments and other technology that joins buyers and sellers.
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And that may solve another problem facing mobile payments: merchant adoption of new technology.
Saunders says this mobile payments capability will roll out to more BlackBerrys in the future.
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Together, these two account for 92.4% of the total value of all mobile payments.
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It also lets them keep their mobile payments separate from their regular checking accounts.
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Clues that Apple is indeed exploring mobile payments can be found in its patent and patent filings.
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One prevailing school of thought when it comes to mobile payments has centered on near-field communications (NFC).
Going forward, this percentage will decrease further, especially as the segment shifts its focus to mobile payments.
In spite of the promise of mobile payments, plastic cards are not going away any time soon.
Mobile payments were 29% of all purchases the company tracked, with mobile commerce peaking on Cyber Monday.
Piling on the news in this space, Paypal recently acquired Fig, another mobile payments startup.
So retailers are naturally reticent to invest in the technology required to upgrade to accept mobile payments.
The third quarter saw PayPal reinforcing its mobile payments segment with strategic acquisitions such as Zong.
Just a few weeks ago, Square signed a landmark mobile payments deal with Starbucks ( SBUX).
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In the simplified connectivity use case, NFC functions in a way totally unrelated to mobile payments or commerce.
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Competitors like Visa and Mastercard are certainly not oblivious to the importance of mobile payments and social media.
All of this comes at a time when there is no single standard for new mobile payments technology.
Point-of-Sale (POS) mobile payments where a smart phone becomes the authentication device to complete a transaction at checkout.
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As Quartz points out, text messaging has enabled mobile payments to become widely adopted in the developing world.
There is a whole other aspect of mobile payments processing, distribution, risk management, and administration that comes with it.
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Mobile payments systems make use of a technology called Near Field Communication, which is just what it sounds like.
Are Visa and MasterCard worried about competitive moves being made in the mobile payments market, particularly in the US?
Case in point: Heyzap, the so-called "YouTube of Flash games, " just partnered with mobile payments provider Boku this week.
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