Google has stoked the fire burning underneath the mobile payments industry by announcing its acquisition of “some exciting technology and intellectual property from Softcard to make Google Wallet better.” The payment software will come pre-installed as standard on Android phones running KitKat or higher with three of the big four carriers across the USA, AT&T, T-Mobile and Verizon.
A handful of big US retailers got together this week to develop a mobile commerce platform backed by a mobile wallet designed to work across “virtually any” smartphone.
UK mobile payment technology and services provider Monitise has announced plans to acquire US based counterpart Clairmail, in a bid to create the “world’s largest pure-play mobile money company”. Monitise will pay a sum of $173m for the acquisition, which is conditional upon US regulatory and shareholder approvals, and the firm expects the acquisition to be completed before the end of the financial year 2012.
US carrier Verizon Wireless will not be supporting Google’s m-commerce app Google Wallet when it launches the first Android 4.0 device. Verizon is rumoured to be launching the Samsung Galaxy Nexus in the US market later this week, but Google has confirmed that the carrier has asked it not to include the mobile app in the handset.
While mCommerce implementations are relatively new, successes such as Safaricom in Kenya, paybox in Austria, Compass Bank in the United States, mpass in Germany and others provide a solid set of lessons learned for mobile operators, enterprises and financial institutions.
Research released by eBay’s UK operation this week claims that m-commerce could deliver a £4.5bn boost to Britain’s economy by 2016 and a further £13bn by 2021, if nurtured correctly. The research gives the auction house yet more reason to go after Google for allegedly upsetting its mobile activities last week.
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