Mobile payments are on the rise with $235 billion transactions processed in 2013, up 44% from the previous year’s $163 billion (Gartner). Mainland China alone has reportedly reached a total of 1.67 billion transactions made in 2013 – worth an unfathomable US $1.6 trillion.
The growth in mobile payment tech not only amps up security and convenience for customers, but it’s also become quite the crowded space for entrepreneurs. Two of our startups, last-minute hotel booking app HotelQuickly and iPad point-of-sale system Bindo, have announced product updates this month in order to maintain a competitive edge.
Just last week, HotelQuickly announced a partnership with PayPal to offer their users a seamless mobile experience. This makes the last-minute hotel booking app the first travel merchant in Southeast Asia to integrate PayPal’s mobile SDK. HotelQuickly customers can now make speedy in-app hotel bookings in just a few clicks.