Smartphones are attached to
everyone’s hip in today’s world. Mobile payment solutions, such as PayPal
(NASDAQ: PYPL) and Apple Pay, are being integrated into every new technology
that emerges. When you launch an online store, the most important function of
the website is the payment option. Today’s world moves at light speed and
consumers demand instant gratification to their impulse buying via Amazon
(NASDAQ: AMZN), eBay (NASDAQ: EBAY), Alibaba (NYSE: BABA), Craigslist, etc.
The contactless payments market is
expected to have a value of $9.88 billion by 2018. This market includes
payments via mobile handsets, smart cards, and key fobs, as well as
consultation services, integration services, and value added services. The
verticals associated with this market are as follows: banking, financial
services and insurance; consumer goods and retail; healthcare; government and
public sector; telecom and IT; and transportation and logistics. Alternet
Systems, Inc. (OTCQB: ALYI) is in this business dynamic.
Alternet offers payment technology
solutions to financial organizations that need a wide range of payment options
for their customers. These products can be used across many devices, such as
point of sale, cell phones, PCs, tablets, and web applications.
The entry of technology giants
such as Apple (NASDAQ: AAPL), Samsung (OTC: SSNLF) and Google (NASDAQ: GOOG) to
the mobile payments market has reignited the debate about the future of mobile
payments. While the launch of Apple Pay, Samsung Pay and Android Pay have
attracted much of the attention from the media, the real growth in the mobile
payments industry in 2015 has come from elsewhere.
New research from Timetric finds
that transaction value on the aforementioned mobile payment solutions is still
relatively small. “For comparison, the value of Apple Pay transactions in 2015
was lower than the value of transactions on Kenyan M-Pesa,” says Vladimir
Vukicevic, lead analyst at Timetric’s Cards & Payments Intelligence Centre.
“Two Chinese payment solutions,
Alipay and Tenpay, dominate the global mobile payments market in terms of value
of transactions. PayPal is, however, the leader in mobile payments in markets
outside China,” continued Vukicevic.
The latest research from Timetric
finds, however, that Apple Pay and Android Pay are in a good position to become
the market leaders for in-store mobile payments. On the other hand, Alipay and
PayPal are likely to remain leaders in remote mobile payments moving forward.
They are also expected to become serious contenders for in-store payments.
Alternet Systems is well
positioned in a rapidly growing space and has more than a century of experience
in its management team, which will be invaluable as the company continues to
adapt and grow in the months to come.
For more information, visit www.alternetsystems.com
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