Tag: china mobile commerce

Intel and UnionPay team to take on mobile payments

| April 16, 2013

Mobile Payments partnershipIntel and UnionPay to develop new mobile payments platform

Intel has announced a new collaboration with China UnionPay, the only domestic bank card organization in China. The two companies will work together to create a new, secure platform for mobile payments. China has become a hub for mobile technology and many consumers are beginning to show strong favor for mobile commerce. In order to accommodate the needs of consumers, UnionPay has begun to take the issue of mobile payments more seriously.

Intel to leverage its security technology for new platform

Security is one of the major challenges that continues to serve as a roadblock to the widespread adoption of mobile payments. Mobile devices are beginning to traffic a significant amount of valuable financial information. This information has become a very attractive target for hackers and malicious groups looking to exploit this information. To address the security problem, Intel leveraging its Identity Protection Technology for the new mobile payments platform. UnionPay accounts for 3.5 billion bank cards, which are accepted in at least 141 countries around the world. Providing these consumers with a secure way to engage in mobile commerce may help mobile payments finally attain the momentum needed to begin replacing more conventional forms of commerce.

UnionPay showcases NFC-based mobile commerce service

UnionPay has also begun showing off its Quick Pass service, which in a mobile commerce service that makes use of NFC technology. More than 1.1 million NFC-enabled point-of-sale terminals were installed in December of 2012 in order to serve as an infrastructure for the Quick Pass service. This service is meant to perform alongside the mobile payments platform that Intel and UnionPay are currently developing.

Mobile commerce continues to find success in Aisa

Mobile commerce has found a great deal of traction in the Asian market. With mobile technology penetration high in many sectors of the market, mobile commerce has been able to establish a strong foothold in several countries. There are, of course, security concerns regarding the widespread adoption of mobile commerce, but companies like Intel and UnionPay are working to put these concerns to rest through the establishment of adequate security systems that will protect a consumer’s financial information.

Mobile commerce set for major growth in China

| March 20, 2013

China expected to see strong growth in mobile commerce sector

New research from online services and e-commerce giant Alibaba shows that mobile commerce is set for aggressive growth in China. The country is expected to boast of more than 322 million online shoppers by 2016 and many of these consumers are expected to make purchases from their mobile devices. Alibaba, which is the country’s largest online shopping company, expects that the Chinese mobile commerce sector will reach a new high in the coming years, especially as retailers become more accommodating of these consumers.

Mobile commerce sales to reach $41 billion by 2015

According to Alibaba, mobile commerce is expected to account for more than $27 billion in sales in 2014. By 2015, the mobile commerce sector is expected to be worth more than $41 billion. Alibaba notes that in 2012, mobile commerce accounted for only $7.8 billion in sales throughout the country, but this was due to the relative lack of effective mobile payments services that were available to consumers.

Singles Day proven the power of mobile payments

A 24-hour shopping spree is held in China every year called “Singles Day.” The tradition encourages Chinese citizens to visit shops and purchase products they are interested in and is very similar to Cyber Monday and Black Friday iMobile Commerce China Growthn the U.S. During last year’s Singles Day, more than $3 billion in mobile payments were recorded throughout China. This encouraged several companies to take the concept of mobile commerce more seriously.

Security a top priority for mobile consumers

By the end of this year, Alibaba expects that mobile commerce will account for $15 billion in sales throughout China. Several companies are still getting accustomed to accepting mobile payments, but growth is expected to pick up momentum as these companies become more comfortable with mobile commerce. Consumers have many concerns regarding mobile payments, the chief of which regards security. Alibaba, which provides mobile payments services, notes that security is such a big concern among Chinese consumers that it could potential derail the projected growth of mobile commerce. As such, Alibaba, as well as other companies, are taking steps to improve mobile commerce security.