Apple are still the wild card in the Mobile Payments space. They have to be considering a play in this crowded space – it could be a game changer.
It seems that every week there’s a new company, startup, or financial institution that is launching a new way to pay from, issue rewards, or power transactions from a mobile phone. The question that always lingers in my mind when I see yet another mobile payments service pop up—how many more ways do we need to pay for a physical or digital product via a mobile device?
Matrix Partners’ Dana Stalder, who was the former COO of PayPal, says that he is introduced to at least one mobile payments startup a week. Matrix Partners previously invested in mobile payments company Zong, which was acquired by PayPal in 2010. “There has been a lot of innovation around payments over the course of the last three to four years. But with recent growth in smartphone penetration, there has been a huge pop in the number of mobile-related payments companies,” Stalder explains.
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