Mobile devices have penetrated almost every aspect of our lives—from communication, to entertainment, shopping, payments, and the list goes on. And there’s no turning back.

Highlighting the mobile retail space, Fab.com introduces version 2.0 for mobile. It boasts the addition of 20 new shops and improved navigation, allowing users to browse by color, shops, and price. It’s available for the iPhone, iPad and Android mobile devices.

About two weeks ago, Fab celebrated a milestone of 2 million members, adding over 400,000 more in the past 30 days, which is twice as much as their membership since November. Inspired by this success, they unleashed a “series of new features and announcements designed to make great design discoverable and attainable by even more people.”

You can expect Fab to keep funding announcements and product news coming in. After all, they look forward to competing with online retail giant, Amazon.

“Our scale in mind is Amazon-size scale, so, yes, we’ll raise more money in the future,” Goldberg said. “Amazon raised billions to be what it is today. We have Amazon-size ambitions to deliver great design options to people everywhere across all categories at all price points.”

Meanwhile, Paypal launches a pilot mobile shopping experience called “Shop and Pay on-the-go” in Singapore’s subway stations. It will allow shoppers to buy items advertised on billboards and posters by scanning QR codes with smartphones and pick them up in a store or have them delivered at their desired place. SMRT Media is Singapore’s transit system’s ad firm and is the country’s “first dedicated Mobile Interactivity Space.

“Commuters can download great deals or access the latest news simply by interacting with Near Field Communication (NFC) tags or Quick Response (QR) codes via their smartphones or NFC-enabled phones.”

The move isn’t the first for the mobile retail space. Paypal runs the same pilot in the subways of Korea and The Home Depot chain in the US to demonstrate its commitment to mobile payment. Paypal and eBay are making hefty investments in mobile commerce and expects to earn $7 billion in January 2012, doubling its previous prediction.