Tag: mobile commerce business

The mobile field shouldn’t be taken lightly

Mobile commerce is quickly proving that it is much more than a passing novelty. Mobile technologies like smartphones and tablets are playing a larger role in people’s daily lives. As such, they are beginning to demand services that are specifically tailored for mobile life. Retailers and other businesses are beginning to accommodate this demand, but many are running afoul of serious security issues that could have a catastrophic effect on the mobile space as a whole.

One of the most significant problems that the mobile space faces in terms of security is an overabundant lack of awareness from consumers and businesses alike. Both parties are somewhat oblivious to matters of security, especially when it comes to mobile technology and mobile-centric services. For businesses, this lack of awareness is largely due to decades spent in a world without mobile technology. Consumers are somewhat uninterested in mobile security, wanting instead for their devices and their favorite brands to handle the behind-the-scenes issues without every making their efforts visible.

Lack of awareness is a serious problem

The problem is that this lack of awareness creates a risky environment for mobile commerce. The mobile space is already very attacking to malicious groups because of its trafficking of financial information. A lack of security awareness means that these groups can, at times, move throughout the mobile space unchecked, exploiting financial information wherever they find it. This is becoming a major problem for some businesses focused on the mobile space as they are finding themselves exposed to risks that they do not fully understand how to deal with.

Many businesses are beginning to involve themselves in the mobile world. These businesses see a great deal of promise in mobile commerce and have been inspired by the major success that others have found in this field. Inspiration is not enough to ensure success for these companies, however, as many have rushed into the mobile space with poorly designed platforms and services that have been met with failure. Many of these services lack the security features necessary to be considered viable, while others simply don’t work well.

These platforms represent a significant investment from the companies that make them and their failure constitutes a serious loss. Companies looking to get into the mobile commerce game have to be careful and gauge whether their hasty entry into the market is worth the potential for failure and serious loss.

Large companies typically lead the way with tech, but mobile commerce platforms are being pushed by SMBs.

Corporations and massive enterprises have traditionally been the leaders when it comes to being on the very cutting edge of technology, but when it comes to mcommerce, a major push is being supported by small and medium sized businesses that are not held back by the solid infrastructures and red tape restricting their larger counterparts.

This flexibility and agility of SMBs makes it possible for them to test and evolve with mobile commerce.

SMBs often find themselves in a position in which they can move quickly, making it possible for them to try out various forms of tech, such as mcommerce, and to keep up with the latest developments over these channels. Because of this, businesses in this size group are starting to play an important role in driving innovation of shopping and payments through the use of smartphones.

Studies are showing that a large percentage of SMBs are using mcommerce and mobile payments.

Recent research by BIA/Kelsey determined that approximately 40 percent of SMBs are using mobile point of sale (mPOS) technology. These mobile devices are used in store to help consumers to make purchases outside of a traditional checkout counter. It is predicted that this number will only rise as SMBs spend more money on mobility over the next half decade.

Using smartphones and tablets to assist consumers with shopping and to be able to accept both orders and payments can help to simplify the operation of the business as a whole, particularly for small retailers and mom and pop shops. A growing number of analysts are predicting that throughout 2014, there will be a broadening trend of embracing this tech in many forms.

The more mcommerce technology is used, the more rapidly mobile commerce platforms will evolve as innovations are developed to improve convenience, efficiency, and cost effectiveness. This will help in areas including inventory, paperless inventory, online banking, and m-payments that give these entrepreneurs new and innovative ways to use digital means for transacting business. Overall, this is an appealing playing field for the SMB community.