Category: Featured News

CIBC Mobile Payment App launched in Canada

| November 5, 2012

 

CIBC Mobile Payment App breathes life into Canadian mobile commerce

Rogers Communication, one of the largNFC Technology for mobile payment industryest communications companies in Canada, has teamed with the Canadian Imperial Bank of Commerce (CIBC) to introduce a new mobile commerce platform to consumers in Canada. Early this month, the two parties revealed the new CIBC Mobile Payment App, which can be used to make purchases for goods and services. The first payment using the new mobile wallet was made by Olympic gold medalist Simon Whitfield, who purchased a coffee at a Tim Hortons shop.

Mobile commerce beginning to gain ground in Canada

The CIBC Mobile Payment App is meant to expand mobile commerce throughout Canada. Consumers have been growing more interested in the concept of making payments for goods and services using nothing more than their mobile device. As such, the CIBC has been growing more accommodating to this demand, looking for ways to enable consumers to do what they want. In teaming with Rogers, the CIBC has taken the first step toward making mobile commerce a larger part of the Canadian economy.

App available only to those with NFC-enabled devices

As with other applications of this kind, the CIBC Mobile Payment App can only be used with smart phones and other mobile devices that are equipped with NFC technology. This immediately reduces the reach of the platform to a niche market. The availability of NFC-enabled devices is currently low, with the recently released Samsung Galaxy S III being the most popular of these devices currently on the market. Telecommunications companies have been working to boost the availability of NFC-enabled devices, but consumers have yet to show their full support of NFC technology.

Consumers leery of NFC technology

Many consumers are supportive of the concept of mobile commerce, but NFC technology has had a less welcoming reception. Concerns regarding the security of NFC technology have made consumers leery and disinclined to support its use in mobile commerce. If the CIBC and Rogers can deliver a pleasurable experience with the CIBC Mobile Payment App, the duo may be able to placate some of these concerns and get consumers to accept NFC technology.

Google admits mobile advertisements impacting revenue growth

| November 5, 2012

 

Google reports that mobile ads are causing a deceleration in revenue growth

Google has invested a grea\Mobile Advertisments Growth t deal of money into mobile advertisements. With the number of consumers with smart phones and other mobile devices on the rise, the company had expected to see a sharp increase in revenue growth through its mobile marketing initiatives. Google has recently filed a 10-Q report with the U.S. Securities and Exchange Commission noting that mobile advertising is, in fact, having a deceleration effect on its revenue growth.

Mobile advertisements are cutting into desktop business

According to the filing, Google has been seeing a decline in revenue growth for some time due to multiple factors, of which mobile advertisements are a significant part. The company expects to continue seeing this trend into the future, if it does not take action to reverse the effects and put more momentum behind revenue growth. Google currently has an $8 billion annual run-rate on mobile advertisements, which has significantly cut into the company’s desktop business, thus causing a decline in revenues.

Focus on mobile platforms cause shrink in desktop business

Despite Google’s powerful presence in the mobile space, the company is still heavily involved in traditional desktop computing. Much of its business and traffic comes from desktop computers or other stationary systems. By shifting focus toward mobile advertisements, Google has seen engagement in its desktop business decline somewhat. Google notes that such trends are expected in the advent of a digital economy, but not entirely welcome. With advertisers more interested in mobile platforms over static, Google may be hard-pressed to find a solution to its revenue growth problem.

Google may see market backlash from slowing revenue growth

Google is one of the leading names in mobile commerce, social networking, and technology currently. The company has its hands in various industries and has a multitude of projects underway that could revolutionize these industries. Nonetheless, the company is still susceptible to changes in the advertising market and the interests of consumers. By admitting that mobile advertisements are causing a deceleration in revenue growth, Google may soon see some backlash from the stock market.