BWild |
November 23, 2012
Mobile commerce report highlights the growth of mobile commerce and banking
Mobile commerce has reached
a proverbial tipping point, according to a new study from TNS Global, a leading market research firm. Over the past few years, mobile commerce has, indeed, become more popular with a wide range of consumers. This is largely due to the massive investments that have been made into the mobile commerce industry from large companies like Google and Visa. Despite some problems concerning security and accessibility, mobile commerce has managed to gain the favor of consumers around the world.
Mobile Life 2012 report shows consumers are highly interested in new forms of commerce
According to the study, which is titled “Mobile Life 2012,” approximately half of all mobile consumers throughout the world are interested in mobile banking services, with another 45% are interested in making mobile payments using their mobile devices. This interest spans throughout the global marketplace, with consumers from Asia, the Americas, Europe, and even Sub-Saharan Africa showing intense enthusiasm for mobile commerce and similar services.
Growing economies mean higher prevalence of mobile technology
In terms of mobile banking, interest largely comes from consumers in China, Sub-Saharan Africa, and developing parts of the Asian market. These markets represent significant expansion in regards to mobile technology. As the economies of the countries within these markets grow more robust, consumers are gaining access to mobile devices, as well as their associated services. The study suggests that growing interest in mobile banking services will lend hype to mobile commerce initiatives.
Consumers still not willing to abandon traditional banking and commerce systems
Mobile commerce and banking are becoming so popular due to t he convenience that is attributed to the two concepts. Having the ability to conduct business using nothing more than a smart phone or tablet is a very attractive prospect for many consumers. The study notes, however, that many of these consumers are not inclined to abandon traditional forms of banking and commerce just because they have access to the mobile variety.
Report shows that US financial institutions are showing great interest in mobile commerce
First Annapolis Consulting, an investment banking and financial services consulting firm, has released its third annual Mobile Banking and Payments Study. The study highlights the changes that are being seen in the U.S. financial services industry and how banks are adapting to the growing popularity of mobile commerce. Mobile commerce is beginning to grow quite large in the U.S., especially where banking is concerned. The study suggests that the growth of mobile commerce has yet to show any signs of slowing down.
81 of top 100 financial groups offer mobile banking services
According to the report, 81 of the top 100 financial institutions in the U.S. offer some sort of mobile banking service. This is an 11% increase from the number of institutions that offered such services in 2011. Many of these services provide consumers with access to their accounts and finances through smart phones and other such mobile devices. Many of these financial institutions are also leveraging consumers’ constant connection to the Internet to provide them with warnings if suspicious activity on their accounts is recorded.
Study shows banks becoming more accommodating of mobile consumers
The study finds that many banks and financial institutions are beginning to take mobile commerce more seriously. Banks, in particular, are warming to the idea of accepting mobile payments from consumers and have implemented bill payment features. These banks are also finding that the rewards programs they offer to consumers are becoming more popular. With banks becoming more accommodating to mobile consumers, these rewards programs are seeing more use and praise from these consumers.
Mobile commerce continues to gain traction in the US
Mobile commerce is on the rise in the U.S. and has been on the rise for some time around the world. The concept of making payments using nothing more than a mobile device has proven popular amongst tech-savvy consumers. Now that the largest U.S. banks and financial institutions are embracing mobile commerce, more consumers may soon be exposed to the innovative concept.
