Stocks Cashing In on Mobile Payments (AXP, EBAY, GOOG) [27Aug11] - 0 views
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The race to replace your wallet with mobile payment options is on.
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Consumer demand for smartphones, combined with near-field communication, or NFC, technology that enables everyday purchases, is fueling the shift from credit card swipes to mobile payments. With smartphone sales expected to increase 50% this year, mobile payment services are in a mad dash to capture market share, and the growing competitive space has sparked strategic partnerships among big names.
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Meet the contendersMobile payment sales in the U.S. are expected to increase at a 68% compounded annualized growth rate over the next five years. It's no wonder that big players like American Express (NYSE: AXP ) and Google (Nasdaq: GOOG ) want in on the action.
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