Chinese mobile commerce shows promising growth
Mobile commerce has been making impressive progress throughout the world, but the scene has been seeing the most activity in China. The country has become a hub for mobile technology and innovation and many of the consumers living there were among the first to embrace mobile commerce. Chinese consumers have been attracted to the convenient nature of mobile payments and many have praised the services that have been opened up to them over the past two years.
Sector expected to reach $41 billion by 2015
A new report from iResearch, a market research firm, shows that mobile commerce has grown exponentially throughout China. According to the report, mobile commerce was worth $7.8 billion by the end of 2012. The report also expects this growth to continue, reaching $41 billion by 2015. While the sector has grown as a whole, one company has emerged as the dominating force in the mobile commerce field.
Taobao leads in mobile payments
Taobao, one of the largest mobile-based shopping organizations in the country, has established a formidable force when it coes to mobile payments. The company is part of the Alibaba Group, which is the most influencial online retailer in the country, eclipsing competitors Amazon and eBay. Tabao is the Alibaba Group’s consumer-to-consumer shopping platform, operating in much the same way that eBay operates in other parts of the world. The company represents more than 75% of the online retail market in China.
Retailers find success through engaging mobile consumers
Taobao, along with other retailers, has put strong focus on mobile commerce in order to appeal more to consumers tethered to smartphones and tablets. This focus has served these retailers well as consumers have shown a penchant for shopping for products even while at work or traveling. Mobile commerce allows these consumers to maintain a constant connection with retailers, allowing them to make purchases at any time they choose.
Alipay puts a new twist on mobile payments
Alipay, a leading third party online payment solution provider in China, has launched a new payment system in the Beijing Subway. The system is designed to accommodate those interested in mobile payments, allowing them to use their smartphones or tablets to pay for public transit tickets. Such a payment system is nothing new, especially in the realm of public transportation, but the way that Alipay’s system facilitates mobile payments certainly breaks away from the established norm.
System uses sound waves to facilitate payments
Alipay’s mobile payments system uses sound waves in order to facilitate mobile transactions. The system relies on the Alipaw wallet, a digital wallet application that was released in January of this year. The application emits white noise, which is registered by the payment system, which then initiates a transaction. This white noise mechanic was initially meant to facilitate peer-to-peer transactions, but Beijing Subway saw significant promise in the applications capabilities.
Alipay Wallet application heavily influenced by growing demand for mobile commerce services
The new system has been launched in two stations in the Beijing Subway. More systems are expected to be installed throughout the subway network in the near future. Alipay notes that the growing importance of mobile payments in the lives of consumers was a strong inspiration for the development of this new payment system. The Alipay Wallet application is available to both Android and iOS consumers, but the latter group is noted as a major contributor to the development of the application’s sound-based mechanics.
Application meant to make mobile commerce more accommodating to iOS consumers
NFC technology has long been a cornerstone of mobile payments, but this technology is not available for iOS devices due to Apple’s disapproval of the technology. As such, iOS consumers have had to rely on alternatives in order to participate in mobile commerce. The sound-based features of the Alipay Wallet are meant to make it possible for iOS consumers to make mobile payments easily without having to worry about having access to NFC technology.
