BWild |
February 24, 2014
New report paints a promising future for mobile commerce worldwide
WorldPay, a payment service provider based in the United Kingdom, has released a new report, called “Your Global Guide to Alternative Payments,” concerning the potential future of the mobile commerce space. Mobile payments have been growing in prominence throughout the world and as more consumers gain access to smartphones and tablets, they are beginning to show more interest in shopping with these devices. Wearable devices, such as smartwatches, are also coming into play, providing further accessibility to the mobile commerce space.
Mobile commerce market expected to reach $117 billion by the end of 2017
The report from WorldPay predicts that mobile payments will reach $117 billion worldwide by 2017, a major increase from the $18 billion recorded in 2012. Mobile commerce is expected to make up at least 3% of the global e-commerce market by 2017. The report highlights the growth in popularity of mobile wallets, which consumers are using to manage their finances on a mobile device. These platforms are capable of storing and accessing financial information. This information is used to complete a mobile transaction.
Smartphones continue to be the most prominent mobile commerce platform in the world
Smartphones are currently considered to be the most popular mobile commerce device, but tablet devices are beginning to gain more support from consumers. Many people have reported a more favorable experience when shopping from a tablet device over a smartphone. Despite this, smartphones are expected to continue leading the way in mobile commerce, especially in the Asian market where smartphone penetration is accelerating at a rapid pace.
Security remains one of the most serious issues facing the mobile commerce sector
The report shows that consumers are becoming more comfortable with mobile payments despite high profile security issues that have been somewhat common in the past. Mobile commerce platforms are becoming more capable of protecting consumer financial information, thereby making them more likely to participate in online shopping from a mobile device. While security for many platforms has been improving, many people have still expressed their concerns regarding the safety of mobile commerce in general.
Shopgate successfully acquires MagCorp, gaining access to Magento
Shopgate, a prominent mobile commerce platform, has announced the completion of its first acquisition. The company has successfully acquired MagCorp, developers of the open source e-commerce platform Magento. The platform has become quite popular among merchants looking to engage consumers more effectively. With its acquisition of MagCorp, Shopgate will gain access to the company’s talent and current line of products, including the Magento platform, which may help Shopgate expand its presence in the mobile commerce field.
Mobile shopping is becoming a priority for retailers
Mobile shopping is becoming quite popular throughout the world. Consumers are beginning to use their smartphones and tablets to purchase products online rather than shop from home on their computers. As consumers become more mobile, retailers must adapt or risk becoming irrelevant to a new generation of shoppers. As such, merchants have been turning to companies like Shopgate and MagCorp to find the tools they need to participate in mobile commerce more effectively, thereby increasing consumer engagement.
Shopgate continues to show promising progress in the mobile field as retailers look to engage a new generation of consumer
Shopgate allows merchants to build their own mobile store fronts. This is not a unique service, but Shopgate claims that it beats out the competition through its integration of popular web-based e-commerce platforms, like Magento. Using Shopgate, merchants can quickly establish a mobile presence that is ready to handle mobile shoppers. Using services such as Magento makes Shopgate’s appeal stronger as such service streamline the mobile commerce process for merchants.
Acquisition of MagCorp may help bost Shopgate’s presence in the competitive mobile commerce space
Shopgate has plans to expand the adoption of Magento. The company will promote the Magento platform among existing and potential clients in order to further its presence in the mobile commerce field. Shopgate currently represents more than 5,200 online shops and some 4,200 native shopping applications for iOS and Android platforms. As Magento becomes further integrated with Shopgate, the company expects that its mobile ventures will continue to attract strong attention from retailers looking to engage in mobile commerce more aggressively.
