Tag: alibaba

TrendForce predicts surge of the global mobile payments market through 2019

The global mobile payments market is expected to surge this year. TrendForce, an analyst firm based in Taiwan, has released a new report that predicts the strong growth that the market will experience, with growth expected to pick up momentum through 2019. According to the report, the number of mobile payments being made is expected to reach $620 billion by the end of this year, up from the $450 billion that was recorded in 2015.

Companies look to find a place in China’s mobile commerce market

TrendForce believes that Apple Pay, Samsung Pay, and similar services from large companies will become more popular throughout the world. The growth of the mobile payments market is expected to be secured in China, where companies are fighting for the favor of those interested in mobile commerce. China is considered the world’s largest and fastest growing mobile payments market, with several companies specializing in digital commerce having found major success by engaging the growing number of mobile consumers.

Alibaba and Tencent ensure that consumers are involved in the mobile commerce space

Massive companies like Alibaba and Tencent have established a powerful foothold in the mobile payments market. These companies have ensured that it will be difficult for other companies to compete in China. These companies have also succeeded in making mobile payments more secure, which has created a great deal of confidence among consumers and ensuring that they will participate in the mobile commerce space.

Biometric technology will make the mobile payments space more secure

According to the report from TrendForce, the global mobile payments market will hit $930 billion by 2018 and $1.08 trillion by the end of 2019. By that time, mobile transactions are likely to be protected by biometric technology. TrendForce expects that more than 40% of smartphones throughout the world will be equipped with fingerprint scanners, which will be used to protect consumer information when they are making a mobile transaction. This degree of security is likely to encourage more consumers to make mobile payments in the coming years.

The Chinese retail giant has managed to solidly secure the top spot title for itself in mobile shopping.

Following a massively successful Singles’ Day over m-commerce at Alibaba, it was already clear that the company had risen to the top when it came to mobile shopping, but now some more specific statistics have been revealed to show exactly how successful that company has become when it comes to catering to smartphone using consumers.

The third quarter earnings at Alibaba had already confirmed that it was well in the lead of mobile retail.

The company, itself, confirmed its position in the lead of m-commerce when it described just how much mobile shopping has had an impact on the business at its overall marketplace. Even though China has been facing some economic struggles, the retailer was still able to show exactly how powerful mobile commerce could be in not only obtaining new customers but also retaining them. It was able to build its active shopper base by over 5 percent, which equated to over 21 million within the one quarter containing Singles’ Day.

Essentially, when it comes to m-commerce, the CEO, Danial Zhang said it best, “We’re crushing mobile.”

He made this rather astute statement while speaking at a call with analysts. Zhang was far from exaggerating, when taking into consideration that the revenues the company has earned within the Chinese marketplace have increased by 35 percent when compared to the year before. This represents a rise to $4.43 billion in earnings over where it had been in 2014. That said, when looking at mobile commerce, specifically, the company saw an astounding 192 percent growth in its revenues, bringing it to about $2.89 billion.

The revenue growth of the company, as a whole, was around 32 percent during the quarter, which saw about $5.33 billion. Of the profits reached approximately $1.9 billion during that single quarter.

There was a growth in the number of active buyers on the overall retail marketplaces owned by Alibaba, which brought the total figure to 407 million within that quarter. The number of active m-commerce shoppers reached 393 million during that quarter. That meant that there were 47 million more than the quarter before.