Tag: m-commerce news

Executives envision a promising future for mobile commerce

The future of mobile commerce is beginning to become a prominent subject around the world. People everywhere are beginning to rely more heavily on mobile technology in the daily lives, which is leading to a growing demand for comprehensive mobile commerce services. Executives from some of the leading companies in the mobile commerce sector have begun offering some insight into what the future may hold for the mobile space and for commerce in general.

Retailers are beginning to develop their own technology

Richard H Harris, CEO of payment technology pioneer Ensygnia, claims that retailers and vendors will play a major role in determining how individuals interact with the world around them. Retailers have begun to take matters into their own hands by developing their own technology and software as a way to engage consumers that are becoming increasingly mobile. Much of this technology is taking the form of mobile commerce platforms, which allow consumers to pay for products with their mobile devices. These platforms are also being equipped with social networking tools as well in an attempt to increase dynamic interact between consumers and businesses.

Mobile commerce could change the way consumers interact with businesses

Sam Shrauger, head of digital for developed markets at Visa, claims that mobile commerce and technology will become a more integrated part of daily life. Shrauger envisions a not-too-distant future wherein consumers can walk into a restaurant and their meal is waiting for them at their table, having ordered the meal from their mobile device in advance. Similar occurrences may be seen in the retail sector as companies work more closely together to take advantage of mobile commerce.

Technology is becoming more mobile-centric

Carey Kolaja, vice president of global solutions management with PayPal, notes that loyalty programs and point-of-sale systems targeting mobile technology have advanced more in the past year than they have in the past decade. The momentum growing behind the mobile space is likely to propel mobile commerce to new heights, especially as more consumers gain access to smartphones and tablets and wearable technology moves from science fiction to reality.

The massive online marketplace is demonstrating a continuing upward momentum on smartphones and tablets.

Analysts are discovering that the mobile commerce performance of some of the original players in the smartphone and tablet shopping channels – such as eBay Inc. – are among the top performing locations and that they are now ready to continue the growth they have established.

It is also among these companies that the most established data is available regarding individual performance.

According to Michael Graham, an analyst from Canaccord Genuity, in a letter that went out to clients “E-commerce should continue to grow in the mid-teens as online shopping models become more useful, more efficient and more mobile, and eBay has positioned itself well against this opportunity.”

Analysts are bullish about the positioning that eBay has established in the mobile commerce environment.

Similar to Mr. Graham, Colin Gillis, an analyst from BGC Partners has identified the online marketplace as his top exposure to e-commerce pick for this year. He even issued a statement in the form of haiku that indicated his belief that mobile commerce could lead eBay’s value to one day exceed that of Amazon.

Graham also pointed out that from his company’s perspective, that “We believe eBay’s fundamental outlook is stable and could improve further over the course of 2013”. He explained that the gross merchandise volume (GMV) year over year from eBay has been consistently accelerating. This is because of a number of new and active users. He feels that a rapidly growing number of people are finding at eBay is useful, and that this is “likely driven by mobile”.

Gillis also took the opportunity to point out the value of mcommerce at eBay. In fact, he expressed that his company feels that the online auction site has “the strongest suite of offering for mobile commerce between its PayPal and its marketplace businesses.” He added that nearly one third of all purchases that are made at eBay are done from a smartphone or tablet device. Moreover, its estimates show that it will likely have processed more than $10 billion in mobile payments in the last year.