Mobile is the future of payments says Sachin Karpe . The habit of paying for things on smartphones and tablets is already ingrained in modern consumer society, particularly among young demographics.
In the same way digital payments companies like PayPal helped usher in the PC-based e-commerce explosion, mobile-focused companies are exploring how to make these transactions easier, for shoppers and merchants, at physical stores and online. There's a lot of confusion out there about what constitutes a "mobile payment," and we reiterate our definition. A mobile payment occurs when a mobile, Internet-connected device is used to facilitate a transaction that might otherwise have taken place using a physical credit card, check, or cash, at a store or point-of-sale. Mobile transactions are a larger category that includes these payments, but also includes mobile commerce, or e-commerce channelled by an app or mobile website says Sachin Karpe.
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