Tag: europe mobile commerce

Mobile payments competition heats up as commerce revolution takes hold

| April 3, 2013

Mobile Payments competitionWho will emerge as a leader in mobile payments is not clear

Mobile payments are beginning to disrupt traditional forms of commerce as more consumers begin to rely more heavily on the smartphones and tablets. These devices have made it exceedingly convenient for consumers to purchase products and services either online or in-store. As mobile payments become more prolific, the mobile commerce market is beginning to brim with competition. Several countries and companies have invested heavily in this market, but it is not entirely certain who will emerge as the dominant force within this industry.

Report shows that consumers are eager for new mobile commerce services

BI Intelligence, a market research and analysis firm, has released a new report that offers insight on mobile payments and those that are leading the way in the current market. According to the report, much of the mobile commerce world is driven by what consumers want. Consumer demand, for instance, has lead to the development of mobile payments platforms that can be used both online and at physical stores. Approximately 52% of consumers wanted such platforms, which are likely to become significantly more available in the coming years.

Singapore among the top countries ready to embrace mobile payments

The report suggests that companies like Square and PayPal are likely to thrive in the coming years, largely due to their very early adoption of mobile payments. Both Square and PayPal have a heavy focus on the mobile space, making them more attuned to the demands coming from consumers than their competitors. In terms of countries, Singapore is considered to have the most mobile commerce “readiness,” with the U.S. and the United Kingdom boasting of average readiness.

US and European consumers are not fully accepting of mobile commerce

While companies could see significant progress in the realm of mobile commerce in the coming years, consumers have yet to be fully won over by mobile payments. BI Intelligence notes that only 10% of consumers in the U.S. and Europe participate in mobile payments.  Many are willing, but concerns regarding security are keeping most consumers tethered to traditional forms of commerce.

4G could be a boon for mobile commerce

| March 26, 2013

Mobile Commerce UK 4G speeds may make mobile commerce a major success in the UK

Mobile commerce is on the rise in the United Kingdom and the success of retailers focusing more on mobile payments may rely heavily on Internet speeds. Mobile Internet is still in a state of infancy throughout much of the world. High-speed 4G connections are still somewhat rare, despite rampant demand for such a service. While telecommunications companies are putting a great deal of effort behind making 4G more widely available, delays in high-speed mobile Internet access could mean missed opportunities for UK retailers.

Retailers beginning to become more accommodating of mobile commerce

Retailers throughout the United Kingdom are becoming more inclined to support mobile commerce in a variety of ways. As consumers become more reliant on their mobile devices, they are beginning to find their smartphones and tablets useful for shopping and similar activities. Mobile shopping is quickly becoming a very popular trend among many consumers, according to a recent study from eBay Europe. The study suggests that access to 4G speeds could lead to a universal surge in mobile commerce as consumers find services easier to use.

eBay predicts surge in mobile shopping

eBay Europe predicts that the expansion of 4G availability could cause mobile shopping to spike by 113%. High-speed connectivity means that mobile commerce services are easier to use. This also means that mobile payments can be processed more quickly, eliminating the waiting period that could potentially lead to some payments being lost in virtual limbo because of a connectivity issue with a mobile network. Along with  a surge in mobile shopping, eBay Europe predicts that high-speed Internet could lead to more sales.

High-speed Internet could lead the way for higher sales

eBay anticipates that 4G connectivity will help mobile commerce reach more than $2 billion in sales in the coming years. Access to high-speed Internet makes it easier for consumers to find products they are interested in. It also makes it easier for consumers to purchase these products and continue shopping, thereby increasing the amount of money people are willing to spend while shopping online with their smartphones and tablets.