Focus on mobile identity is growing due to popularity of mobile commerce
Mobile identity is becoming more important to businesses, especially as more consumers around the world begin to rely on smartphones, tablets, and other devices in their daily lives. Market research firm ResearchMOZ has released a new report concerning the growing importance of mobile identity and how businesses are beginning to invest more heavily in biometrics and other such technologies. The report cites the growth of mobile interactions and mobile commerce as the influence behind higher investments in mobile identity.
Companies begin taking security more seriously
Mobile identity is an aspect of security that has become quite important in the world of business as more companies around the world begin to participate in mobile commerce and offer mobile-centric services. Companies are beginning to invest heavily in mobile identity infrastructure as it is being seen as an efficient and economic form of fraud detection and prevention. Mobile identity largely relies on the use of biometric technology, such as fingerprint scanners, to make things like mobile commerce more secure for consumers.
Mobile commerce security too sparse for some consumers
Mobile commerce, in particular, could have a lot to gain from businesses focusing more heavily on mobile identity. Mobile commerce has struggled with security issues for much of its existence. Many consumers that have shown interest in shopping for and purchasing products with their mobile devices have expressed concerns regarding the security of their financial information. Mobile commerce has become a popular target for hackers, many of whom are finding it relatively easy to exploit the financial information of consumers. A lack of security can expose companies to significant liability issues, especially when financial information is involved.
Companies seek to make mobile commerce safer
The report notes that companies like Google, Groupon, and Vodafone have made mobile identity a top priority. This is due to the involvement that these companies have in mobile commerce. As businesses begin to invest more heavily in mobile identity, better security systems are expected to begin emerging. Many of these security systems are expected to leverage biometric technology in some way.
Mobile commerce adoption is being slowed by numerous issues
The RetailNet Group, an advisory firm focused on the retail industry, recently attended the Money2020 conference in Las Vegas, Nevada, where it shed some insight on the trends emerging in the mobile space. At the conference, the firm helped raise awareness of the problematic issues that exist within the mobile space, especially where retailers are concerned. Some of these issues are slowing the adoption of mobile commerce among consumers and are making people leery of marketing initiatives that leverage geotagging and other such location-based technologies.
In-store applications lack traction with consumers
When it comes to mobile commerce, many retailers have been working to promote a wide range of applications that can be used in stores. According to the RetailNet Group, these applications are somewhat popular when they are first released, but more than a quarter of these applications are downloaded once and never used beyond that point. In the U.S., retailers are struggling to find traction with consumers when it comes to using these applications, but these applications have become a resounding success in China, where mobile commerce has established a strong foothold among consumers. The firm suggests that the applications that show the most promise are “scan and go” apps that allow consumers to skip lines at checkout.
Geotargeting considered problematic by many people
Geotargeting is becoming relatively popular in the mobile space. Location-based services hold a great deal of promise for marketers and their ability to develop engaging campaigns, but many geotargeting initiatives are being considered somewhat invasive by consumers. The RetailNet Group suggests that many of these initiatives are acquiring information about consumers even without appropriate permission. The firm claims that people, in general, do not favor their information being acquired by companies and organizations without their permission.
Google struggles on the mobile commerce front
On the mobile payments front, Google continues to struggle with engaging consumers through its Wallet platform. The firm suggests that many people do not consider Google to be a mobile commerce company. As such, they show little interest and confidence in Google’s capabilities in the mobile commerce field. Google is, however, doing quite well in terms of e-commerce, providing retailers with innovative ways to engage the mobile crowd.
