Mobile payments continue to grow in China
Maverick China Research, a market research firm based in China, has released a new report concerning mobile payments and the favor they garnered among consumers in 2013. Mobile commerce has become a powerful force in China, especially as ownership of smartphones and tablets continues to rise at a rapid pace. A growing number of people are showing a strong interest in shopping online, using their mobile devices to find and purchase products that they are interested in.
Consumers are becoming more interested in online shopping
According to the report, the mobile commerce field saw a great deal of activity throughout China in 2013, especially where retail is concerned. The report notes that more retailers have come to embrace mobile payments as a way to engage a new generation of consumers that have a strong reliance on their smartphones and tablets. These retailers have developed or purchased point-of-sale systems specifically meant to accommodate mobile commerce.
Mobile device ownership grows
The report notes that mobile devices have reached a point where they can reliably provide an enjoyable mobile commerce experience. Moreover, the number of consumers that have smartphones and other such devices has reached new heights in China, and many of these people are showing that they are willing to shop online. According to the report, approximately 30% of the mobile devices sold throughout China at the start of 2013 were smartphones.
3G helps mobile commerce prosper
Mobile Internet has also become more reliable in China over the past year. China’s 3G networks have been bolstered by telecommunications companies and an estimated 200 million people make use of these networks on a regular basis. A fast and reliable Internet connection is needed for an enjoyable online shopping experience and 3G has helped mobile commerce establish a stronger presence in China than it had in previous years.
Per the agreement, Intime will begin supporting payments being made by customers using the Alipay Wallet. This may help expose more people to the concept of mobile commerce and give them more flexibility when it comes to shopping at Intime stores. Both Alibaba and Intime have also agreed to expand their efforts in the mobile commerce field beyond the use of the Alipay Wallet. Exactly what that entails is not yet known.