It is expected that there will be an increase in consumer spending via mobile phones due to the holidays with the bulk of purchases coming from electronics, clothing, and food, by fourth quarter of the year. Mobile payment is a novel and an alternative payment method very popular in Asia and Europe wherein a consumer or buyer uses a mobile phone to pay for a wide range of services or goods instead of paying with cash, cheque or credit cards. Unexpected transactions done through mobile phones are becoming a trend nowadays, like purchases of tractors, cars and real estate. This only shows that mobile payments are becoming part of the daily consumer activities and getting into the mainstream which provided consumers with several benefits like easy and fast purchases and an end to stressful shopping. Benefiting store owners, distributors and other entrepreneurs, such ease will result to an increase consumer spending as long as they engage in this viable transaction that no longer needs several people to handle or manage. This expected increase in mobile purchases have already benefited several companies like Verifone which provides mobile POS solutions and services to different mobile merchants and with the increasing number of mobile phone users, businesses that takes advantage of this will become more profitable. Because it is accessible and several admired its low charge and portability features, and in the coming holiday it will again be experienced by these users how enjoyable shopping would become, many have been attracted to this mode of commerce. To ensure its success, all the stakeholders like mobile phone operators, developers and providers of payment systems, regulatory and standardization bureaus are now working hand in hand to make the mobile payments a commercial hit and testing of mobile payment technologies have been done.
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