Southeast Asian ride-hailing firm Grab today said it has acquired Bengaluru-based payments startup iKaaz to strengthen its payments platform. Grab, which competes with the likes of US-based Uber, said the “rich functionality of iKaaz mobile payments platform and its experienced leadership team will accelerate feature development and partner integration of GrabPay (its payments platform)”. It, […]
Apple will now accept WeChat Pay as a payment method for App Store and iTunes purchases as it seeks to boost sales in China. The move comes months after Apple and WeChat owner Tencent fell out over Apple’s stance on in-app purchases. In a statement to Chinese media, Apple said the company is “dedicated to providing multiple […]
Though mobile payments have experienced only modest growth in the last year, the frequency of in-store mobile payments has increased significantly among one key demographic—25- to 34-year-olds. According to the December 2016 Deloitte Mobile Consumer Survey, which polled 2000 US internet users ages 18 to 74, older millennials are twice as likely to make mobile […]
In 2016, mobile-driven commerce will reach an estimated US$972.25 billion across the 46 markets where Euromonitor International conducts this digital research. Most impressively, mobile payments are expected to reach US$3 trillion by 2021. While that is a lot of transacted money across these small-screen devices, mobile-based payments will equate to only an estimated 11 percent […]