Mobile Commerce

In a move the payments industry had expected since early August, the nation’s largest wireless carriers on Tuesday announced they had formed a joint venture to run a point-of-sale mobile-payments network. The new company, known as Isis, will be headed by Michael Abbott, formerly an executive with GE Capital’s proprietary …

Mobile remote deposit capture software provider Mitek Systems Inc. posted a profitable last quarter of fiscal 2010 as more resellers and financial institutions adopted its products for taking pictures of checks from smart phones. And while San Diego-based Mitek has big expectations for its flagship Mobile Deposit application, the company …

Mobile payment is making headway among the nation’s top 100 financial institutions, according to a new study from First Annapolis Consulting Inc. The mobile offerings today, however, center on person-to-person payments, wire transfers, and remittances rather than the use of mobile devices as payment instruments at the point of sale. …

Banks, billers, and processors seeking to boost electronic bill-payment usage would do well to cast their lot with young, affluent consumers who are heavy users of smart phones, according to new research from Aite Group LLC. This cohort, whom Aite dubs “smartphonatics,” accounts for just 7% of consumers but make …

PayPal Inc. took another step toward the physical point of sale on Tuesday with the announcement that it will work with VeriFone Systems Inc. to let merchants accept PayPal payments on VeriFone’s PAYware Mobile application. Starting early next year, merchants will be able take PayPal from customers on the application, …

In the biggest expansion yet of mobile payments to its standalone stores, Starbucks Coffee Co. on Monday said it has equipped almost 300 company-owned stores in New York City and parts of Long Island to accept transactions using 2-D bar code technology. This expansion follows the Seattle-based coffee chain’s move …

Mitek Systems Inc., the pioneering developer of remote deposit capture software for mobile devices, is now moving into mobile capture for bill payments. With San Diego-based Mitek’s new Mobile Photo Bill Pay application, a consumer could take a picture of a paper bill with his camera-equipped smart phone, and then …

With its developer conference just ahead and new markets such as mobile payments opening up, PayPal Inc. put the oomph in its parent company eBay Inc.’s third-quarter financial report. But with more than 90 active million customers and $22 billion in quarterly payments volume, a question on some minds is …

Mobile banking, and by extension mobile payments, have rapidly crossed the line from add-on to necessary products for financial institutions, speakers and other sources at a banking-technology expo said on Wednesday. The primary reason mobile has assumed such importance has more to do with fear of attrition than with revenue …

Just as financial institutions were digesting the idea of letting consumers deposit checks by snapping images of them with their handsets, along comes PayPal Inc. with the first such application offered by a non-bank—and one that has so far proven to be quite popular. San Jose, Calif.-based PayPal announced late …