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MASTERCARD SAYS MOBILE IS THE BIG PLAY
Ed McLaughlin, Chief Emerging Payments Officer at Mastercard, describes MasterPass as his company’s “Big Play” for the next generation of payment technology.
Worldwide purchase volume over mobile devices will exceed $1 trillion by 2017, according to IDC Financial Insights. Mobile is set to become the “next big thing” in payments but the solutions need to be led by customers not technology.
The current mobile payment market is fragmented between multiple providers (the Big 4 being Paypal, Google, Mastercard and Square).