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LinkedIn, a trailblazer in the online networking craze, went public with a roaring stock offering. Within minutes, shares were trading at twice the value set by the company. Buyers crowded the floor of the New York Stock Exchange, and financial news networks flashed LinkedIn's stock price urgently all day. By the closing bell, the company had a market value of $9 billion, the highest for any Internet company since Google had its initial public offering seven years ago. Millionaires and even one billionaire were made, at least on paper. The stock, issued at $45, went as high as $122.70 just before noon and closed at $94.25 on a trading volume of 30 million shares. All this for a company that skeptics say amounts to an online Rolodex, a place on the Internet for professionals to post resumes and connect with one another and potential employers. It was enough to remind some people on Wall Street of the heady late 1990s and the debuts of companies like Netscape Communications — and, more infamously, long-forgotten names like Pets.com and Webvan. Investors wondered whether LinkedIn will be a precursor to another financial frenzy in Silicon Valley

Verizon Wireless and financial management company Intuit announced today a partnership that will bring Intuit's mobile card reader to 2,300 Verizon retails stores across the country. The partnership is yet another big move in the mobile card reader industry that has been popularized by Square and includes Verifone, Erply and PayAnywhere among others. Intuit operates QuickBooks, a system used by merchants to manage finances. As such, GoPayment fits well in Intuit's product line. Verizon will be able to put the Go Payment in front of millions of people looking for mobile payment options. It is a win for both companies and a strike to Square, which is putting up a big fight against the large financial companies that are rapidly entering mobile payment industry.

The GoPayment card reader will be "free" to Verizon customers granted activation of a GoPayment account and a mail-in rebate of the $29.97 purchase price. The app itself is free and has no monthly transaction or cancellation fees with a 2.7% rate for each swiped transaction. A paid version of GoPayment is available that lowers the per swipe transaction rate to 1.7% with a $12.95 monthly fee, which will be good for retailers with high volume.

Square sells for $9.95 at the Apple Store but consumers get a $10 credit from the company when they sign up for an account. Square also has a 2.7% fee for swiped transactions

Crowdpark, a Berlin-headquartered game developer, announced today that it has raised $6 million in series B financing from top German venture capital firms, Target Partners and existing investor, Earlybird Venture Capital. Waldemar Jantz, partner at Target Partners, will be joining the startup’s board as a result of the investment. The new round of funding brings Crowdpark’s total to $8 million. Why should you care? Well, Crowdpark is aiming to give gamers their fix of legal gambling, er, betting. Using its patented “dynamic betting” technology, Crowdpark enables forecasting in realtime for social gaming in much the same way the brave among us play the stock market. Unlike its social gaming competitors, the German startup allows gamers to compete against each other in betting events using virtual currency. This includes the opportunity to bet on real world events taking place in everything from sports and entertainment to news and technology.

Dickson Chu, the high profile and often outspoken head of digital and mobile networks at Citi, has quit the bank to join daily deals outfit LivingSocial.

Chu joined Citi from PayPal less than two years ago with a brief to kickstart the bank's mobile payments programme. Unusually for the conservative banking industry, Chu was prepared to speak his mind and was an unashamed advocate of the Google Wallet venture.

Citi is currently the sole banking partner for the search giant's mobile payments operation, which is straining to make a mark on the high street ahead of the forthcoming launch of a rival programme by the Isis carrier consortium.

The Dutch consortium of major banks and MNOs which in 2010 signed a letter of intent to jointly introduce mobile payments at the checkout in the Netherlands have taken their initiative one step further.

The partnership, which includes financial services providers ABN AMRO, Rabobank and ING as well as KPN and Vodafone, will notify the initiative for approval to the European Commission in Brussels.

It is expected that the EC will communicate its vision in the first quarter of 2012. After that, the consortium can start the actual execution of the plans. It is expected that Dutch consumers can experience payments with their mobile early 2013.

PayPal’s first retail tests of its in-store payment system is happening at Home Depot, the payment company acknowledged last week. But the bigger test will be ensuring that many more retailers and merchants are in a position to easily integrate PayPal’s system as it looks to roll out its offering this year.

PayPal is taking a big step forward by partnering with AJB Software Designs, which helps connect the point of sale terminals at many tier-one retailers to payment processors and financial institutions. AJB is now incorporating PayPal’s mobile payment system into its framework and building out a specific PayPal interface, which will allow PayPal users to pay through 250,000 point-of-sale terminals that connect to AJB software. AJB said it services 20 percent of the top retailers in North America. The AJB integration should be become available to retailers in the first quarter of this year.

Retailers will still have to decide if they want to enable payments via PayPal. And the process of outfitting stores and chains can take anywhere from days to weeks. But if they choose to make the software upgrade, retailers will be able to receive payments via a PayPal Access Card or through an “empty hand” payment in which a user accesses their PayPal account by entering in their phone number at a point of sale terminal. In both cases, they will need to confirm a transaction with a PIN code and then AJB’s software takes the request and pings PayPal, which authenticates the user. PayPal can send back coupon information or deals stored on a user’s PayPal app, which the user can then decide to apply before selecting their payment form and checking out. After the transaction, users will receive an e-receipt on their PayPal app and online in the PayPal account.

Mobile banking will continue to grow next year across a multiple fronts. Not only will more banks jump into mobile with optimized sites and application, but financial institutions will also build their existing mobile programs with a variety of new services.

Much of the interest in mobile banking is being driven by consumers, who tend to interact more with a mobile banking solution than they do Internet banking. On average, customers use a mobile banking app three times per week and only use traditional Internet banking two times per week, according Malauzai Software.

“We see a demand for mobile via the application and text messaging,” said Jim Simpson, vice president of information technology at City Bank Texas, Lubbock, TX, which has over 30 locations across Texas.

American Express is making a significant move in the expansion of its digital wallet, Serve to international markets today. The credit card company is announcing the first global partnership for Serve with Lianlian Group, of of China’s leading mobile payments providers. Additionally, AmEx has also made an equity investment of $125 million in LianLian Pay.

Group President for Enterprise Growth for American Express Dan Schulman tells us in an interview that American Express has come to realize that in a lot of fast growing economies internationally, people move money in different ways and in order to enter these markets, the company has to think beyond just plastic cards and checks, and consider moving straight to mobile platforms.

AmEx is generally predicting China to be a huge market for its mobile and digital payments products and is planning to open a new American Express’ Enterprise Growth Group office in Hangzhou, China. The China-based team will provide technical and consulting support to Lianlian Group on the Serve partnership, and the new outpost will be headed by Matthew Lee, President, Enterprise Growth, American Express, China.

This year, NFC technology will finally make its way into the hands of millions of users. This will be spurred along by new smartphones, notably from Android, that have NFC capabilities baked into them. The technology industry is waiting to see if and when Apple decides to put NFC into the iPhone. Many pundits think that when Apple goes NFC, that will be the true harbinger of the heyday for mobile payments. As it stands, Apple's newest iPhone 4S is three months old and a new one will not be released till the third or fourth quarters of 2012, if at all.

It is still a cash world, with about 85% of transactions still being made with paper currency. It behooves the financial system and their technology partners to shift those scales. Even a 1% increase in digital payments means billions dollars flowing through the ecosystem.

Mobility will reshape the credit card and payment industry.

The business climate, it turns out, is a lot like the weather. And we've entered a next-two-hours era. The pace of change in our economy and our culture is accelerating--fueled by global adoption of social, mobile, and other new technologies--and our visibility about the future is declining.

Uncertainty has taken hold in boardrooms and cubicles, as executives and workers (employed and unemployed) struggle with core questions: Which competitive advantages have staying power? What skills matter most? How can you weigh risk and opportunity when the fundamentals of your business may change overnight?

Look at the global cell-phone business. Just five years ago, three companies controlled 64% of the smartphone market: Nokia, Research in Motion, and Motorola. Today, two different companies are at the top of the industry: Samsung and Apple. This sudden complete swap in the pecking order of a global multibillion-dollar industry is unprecedented. Consider the meteoric rise of Groupon and Zynga, the disruption in advertising and publishing, the advent of mobile ultrasound and other "mHealth" breakthroughs (see "Open Your Mouth And Say 'Aah!'). Online-education efforts are eroding our assumptions about what schooling looks like. Cars are becoming rolling, talking, cloud-connected media hubs. In an age where Twitter and other social-media tools play key roles in recasting the political map in the Mideast; where impoverished residents of refugee camps would rather go without food than without their cell phones; where all types of media, from music to TV to movies, are being remade, redefined, defended, and attacked every day in novel ways--there is no question that we are in a new world.

Vantiv, a provider of mobile payment solutions, announced a new point-of-sale product on Friday that it will be rolling out in partnership with Verizon Wireless. The product, which is currently in field testing, includes custom tailored applications and an Android-based point-of-sale solution for accepting payments. The applications will be available in Verizon’s Private Application Store for Business. “Merchants and consumers are seeking greater mobility, control and timely access to data,” said Bill Weingart, Chief Product Officer of Vantiv. “We’ve teamed with Verizon to combine our payment and security expertise with Verizon’s ability to tailor development of mobile technologies to address those needs.” Verizon Wireless is also a member of ISIS, an initiative in which it has partnered with AT&T and T-Mobile to provide customers with NFC-based mobile payment options. Vantiv’s full press release follows after the break.

Vantiv Introduces Next Generation Mobile Payment Solution Teams with Verizon to Develop and Deliver More Flexibility and Opportunity for Merchants to Grow Their Businesses CINCINNATI, Jan. 31, 2012  — Vantiv, LLC (formerly Fifth Third Processing Solutions, LLC), a leading integrated payment processor, today announced that its customers will be the first to use an innovative point-of-sale device and system that will help merchants more effectively conduct business.

Vantiv is conducting a field trial of a new mobile payment solution developed in collaboration with Verizon. The new solution is architected on the Android operating system and features end-to-end, secure point-of-sale payment capabilities and business applications using Verizon’s Private Application Store for Business. As a result, Vantiv customers can tailor point-of-sale applications to meet their needs while taking advantage of remote device management.

Exclusive: In a push to boost its payments platform for the gaming industry, American Express, has acquired virtual currency platform and in-game payments provider Sometrics. The total deal value is $30 million, but both parties declined to reveal further details about the split between cash and stock. Sometrics will become part of the Enterprise Growth Group, and will be used within American Express’ Serve digital payments platform to incorporate virtual currencies and loyalty programs.

Sometrics helps gaming publishers market free-to-play online games and monetize virtual currency with a consumer destination site and in-game payment solutions. Sometrics’ in-game payments platform basically powers virtual currency transactions and payments for game publishers. Sometrics also serves users with targeted offers based on their location, demographic, conversion history and social affiliation.

The company currently supports dozens of payment options (including mobile carrier infrastructure and credit card support) and hundreds of brand engagement ads, reaching a total global audience of more than 225 million consumers in more than 200 countries. And through Sometrics’ analytics capabilities, developers are able to view and analyze which audience demographics are responding to which payment options, respond by pushing traffic to the options that convert best, and optimize those conversions to help maximize revenue. Current gaming partners that use Sometrics include Nexon, NHN USA, IMVU, PopCap, BigPoint, Habbo, and many others.

PayPal has taken the wraps off its single sign-on digital identity service for online shopping, PayPal Access. The move comes as the San Jose-based payments operator unveils a series of new partnerships with a host of banking technology suppliers at the BAI Retail delivery show in Chicago.

PayPal Access is designed to simplify the checkout process by enabling the company's 100 million account holders to sign in at participating retailers' sites with just their PayPal user name and password.

The initiative is a key element of X.Commerce, a new division of PayPal parent company eBay, that aims to provide a common set of APIs for building consumer-facing online merchant services.

Mobile payments company Square has made an interesting move today, which should put competitors Verifone and Intuit on notice. The startup is dropping the per transaction charge for any business using its mobile payments device and service. Square previously charged 2.75% of each transaction amount plus a flat $0.15 per transaction fee. Today, Square is completely dropping the per transaction charge.

So why is the mobile payments company dropping the transaction fee? Square’s COO Keith Rabois says that along with simplifying the payments experience for businesses, it is also taking on the hidden fees and teaser rate structure that have plagued the credit card industry. “The vision of Square is to simply create zero friction and complexity around payments, which is difficult to do in financial services,” he explains. Rabois says that the per transaction fees on top of a variable rate charge can be misleading for businesses because the hidden costs add up especially if a business processes a large amount of transactions. Now, Square will simply charge a flat 2.75% of all transactions, regardless of size. “In the end accepting payments should be as easy as using a microwave,” says Rabois.

Fresh off a $27.5 million funding round, Square is gaining a lot of a lot of buzz and just debuted a new billboard in Times Square. Jack Dorsey’s startup is expected to process $40 million in transactions in Q1 of 2011 and is currently signing up 100,000 merchants per month. That’s compared to 30,000 monthly signups last Fall.

Nonetheless, consumers should keep a close eye on bank statements to ensure everything is correct.

"Your bank can basically turn back any transaction within 60 days," said Rob Drozdowski, a regulatory specialist with America's Community Bankers, a trade association of community banks. "It's important to review your statements within 60 days and get back to your financial institutions with any issues."

Check regulations, which date back to the 1940s, set no time limit for the bank's reimbursement and don't mandate an investigation. If the bank refuses to investigate your claim on a standard check transaction, your only recourse is to sue.

Jack Dorsey’s Square was unveiled last December as an innovative way to let people quickly and easily accept physical credit card payments from their mobile phone.

Square is ideal for taking money at political fundraisers for several reasons.

A local flower cart in San Francisco is using Square to take payments from customers. Denim, a jeans store in New York is using Square to take payments from shoppers. We even used Square at this year’s Crunchies to raise money for the UCSF Foundation.

Exclusive - Tinkercad, a startup that aims to introduce browser-based 3D printing CAD to the masses, has landed $1M in seed funding from True Ventures, Jaiku founder Jyri Engestrom, Delicious founder Joschua Schachter, Eghosa Omogui and Taher Haveliwala.

The company’s mission is to ‘reach and teach’ a wide audience on the use of CAD software and creating ‘fun and meaningful’ things like jewelry, toys, car parts and whatnot, using 3D printers.

Kai Backman, Tinkercad’s co-founder and CEO, explains that one only needs a browser and a couple of minutes to use its browser-based software and have a 3D project ready for printing.

Recently, American Express has been pushing its own internal digital commerce initiatives including the company’s digital wallet, Serve. Serve integrates a variety of payment options into a single account that can be funded from a bank account, debit, credit or charge card. AmEx also announced a number of recent partnerships in the payments space include Foursquare, Facebook and even Zynga for personalized deals. But today, the financial company is reaching beyond its own internal payments projects to launch a $100 million fund to invest in startups and companies in the digital commerce space.

The digital commerce initiative will make investments in a number of areas involving the digital commerce experience, including loyalty and rewards, mobile and online payment management, fee-based services, security and fraud detection and data analysis.

“The payments industry is undergoing a fundamental change as the very nature of commerce is redefined,” he explains. “This fund is designed to encourage innovation in the payments space.”

The mobile wallet is becoming a reality. Apple [AAPL] has already begun plotting to turn your iPhone into an iWallet which uses iTunes as your virtual bank.

The company this week begins rolling out its EasyPay payment system in US retail stores. Available inside Apple's own Apple Store for iOS app, EasyPay lets users purchase accessories at Apple retail stores just by scanning in the barcode and completing the transaction on their iOS device.

Payment is taken using your Apple ID. Users need to enter their ID and then payment is taken using the credit card associated with their iTunes account.