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Mobile commerce slated for massive growth

| November 17, 2012

 

IDC Financial Insights report forecasts promising growth for mobile commerce

IDC Financial InsiMobile Commerce Growthghts, a leading analytical research firm, has released a new report that presents a global forecast concerning spending over mobile networks. The report, which is titled “Technology Selection: Worldwide Mobile Payments 2012-2017 Forecast,” sheds some insight on the growth of mobile commerce and what that could mean for the businesses within that burgeoning industry. More consumers and businesses are becoming enthralled over the concept of mobile commerce, and that is expected to have major financial implications for companies deeply involved therein.

Global payments to exceed $1 trillion

According to the report from IDC Financial Insights, global purchase volume through mobile devices will exceed $1 trillion by the end of 2017. The majority of this purchase volume will occur through mobile commerce and e-commerce platforms. Both platforms have proven popular amongst consumers who are interested in paying for products over the Internet and with their mobile device. NFC technology will also experienced robust growth during this period, especially as the retail industry begins to grow more inclusive of mobile commerce.

NFC technology seeing uptick in popularity

The growth of mobile commerce has been held back somewhat due to the lack of NFC-enabled mobile devices. Currently, these devices are in short supply, which is a problem because most mobile commerce platforms rely on the technology to facilitate mobile payments. Mobile payments can still be made through websites, such as Amazon and eBay, but purchases of physical goods with a mobile device remain limited. IDC Financial Insights notes that this is likely to change by 2017, due to the rate at which businesses are adopting NFC technology.

Growth has yet to meet actual potential

The report shows that mobile commerce is poised to see major growth by 2017, but IDC Financial Insights suggests that the gains the industry will see pale in comparison to its actual potential. IDC Financial Insights claims that the $1 trillion in purchase volume from mobile devices that is forecast for 2017 accounts for only 2.5% of the global potential of mobile commerce.

Movaluate launches ambitious new campaign

| November 17, 2012

 

Movaluate turns to NFC and QR codes to cut down on waste

Movaluate, a company specializing iMovaluate NFC Forum Mobile Marketing Commercen promoting the re-use of old smart phones and mobile devices, has launched an ambitious new initiative that aims to get people to sell their old smart phones rather than just throw them away. The company has begun giving away from NFC-QR tags that, when scanned, can instantly determine the market value of a smart phone. The information provided to the consumer through these tags is meant to give them an idea of what they can gain from selling their old mobile devices.

New campaign allows consumers to determine the value of their smart phones

The new campaign from Movaluate is meant to raise awareness of the rising value of smart phones. More mobile services are emerging that can only be accessed through smart phones and other advanced devices. The availability of these devices is high, but many consumers have yet to justify the purchase of such technology due to its high cost or the fact that they must commit to a usage contract to obtain a smart phone. The second-hand market can be a viable place to find a smart phone without having to pay a large amount of money upfront.

Old technology presents environmental risks

Old smart phones present a fairly significant environmental problem. Many consumers simply discard their old mobile devices when they purchase a replacement. These devices are not made out of biodegradable components, however, and can even release toxins into the environment, poisoning soil and wildlife. By recycling or selling old smart phones, the environmental implications of discarding these technologies can be mitigated significantly.

Campaign may help consumers get their hands on smart phones

Through its new NFC-QR tags, Movaluate aims to help consumers get a fair market price for their mobile devices. The tags can be easily accessed by devices with a barcode scanning application or an NFC reader. This campaign may help increase people’s access to new mobile devices, in the long run, while also helping protect the environment from dangerous technological waste.