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China’s central bank introduced new regulations targeting mobile payments

03/18/201403/17/2014 Stephanie Beck

People’s Bank of China unveils draft regulations aimed at the mobile commerce sector The People’s Bank of China has issued two drafts concerning regulations for online payment providers. The regulations are meant to introduce new restrictions on the digital finance sector in order to provide more protections to consumers and businesses concerning mobile commerce. Mobile payments are still quite new and lack any comprehensive regulatory structure. Without adequate regulation, mobile payment services are not required to adhere to any specific standards, therefore leaving some consumers exposed to possible exploitation due…

Mobile payments at Starbucks will soon allow tipping

03/14/201403/12/2014 Jorge Gonzalez

The exceptionally popular smartphone app will soon be allowing patrons to leave a tip. Starbucks, the prime example of the way that mobile payments can be successfully implemented and broadly adopted by consumers, will soon be adding a new feature to its smartphone app, which will be allowing customers to leave a tip for their barista. The question is whether or not people will actually use this tipping feature on the updated app. The Seattle based coffee chain has announced that the option for tipping on its mobile payments app…

Tencent purchases stake in JD.com to further mobile commerce endeavors

03/12/201403/10/2014 Stephen Vagus

Tencent purchases 15% stake in JD.com, aims to compete with Alibaba more aggressively Tencent, one of the largest Internet organizations in China, has announced that it will purchase a 15% stake in JD.com, a prominent e-commerce firm. The move comes as Tencent prepares to compete with Alibaba more aggressively. Both Tencent and Aliabab have plans to dominate the mobile commerce field, and both intend to fight for that position. Tencent’s stake in JD.com may help give it the edge over Alibaba in the near future. E-commerce firm continues to attract…

New study shows that people are acclimating to mobile payments

03/10/201403/08/2014 Stephanie Beck

Consumer behavior concerning mobile commerce is beginning to shift MasterCard and PRIME Research have released a new study that highlights consumer behavior when it comes to mobile commerce. The study shows that people are quickly becoming very comfortable with the concept of mobile payments and shopping for products from a mobile device. This is partly due to the growing number of people that have access to smartphones and tablets. This increasing exposure to mobile technology is also causing an increase in the demand for mobile-centric services. Mobile commerce is moving…

Mobile payments may find strong growth in the US

02/26/201402/22/2014 Stephen Vagus

The US may become a prominent mobile commerce market in the near future Mobile payments may be set to see explosive growth in the U.S., according to analysis from BI Intelligence. The firm has estimated that global mobile commerce spending in 2013 reached $223 billion, approximately 4% of the total credit and debit transactions made in that year. The U.S. has been lagging behind the Asian-Pacific and African markets, however, U.S. consumers have been growing more interested in mobile commerce over the past year. Mobile transactions continue to find strong…