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Financial Giants Cash In on Mobile Money

Several global financial groups have announced at this week’s Mobile World Congress in Barcelona that they are entering the mobile payments market. Fighting for a slice of the market are some players previously reticent to dip a toe into the mobile money market, including MasterCard, Visa, and PayPal. . People are increasingly using smartphones—rather than cash or credit cards—to make payments. MarketsandMarkets, a research firm, estimates the mobile-money industry should grow from $13.8 billion in 2013 to $278.9 billion by 2018. (PhysOrg)(AFP @ GlobalPost)

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