Tag: mobile commerce investments

Net Element to invest in new mobile payments technologies

Mobile payments see more investment activity

Net Element International, a technology-based company specializing in e-commerce, has announced that it will begin investing more heavily in mobile payments technologies. Mobile commerce has been the subject of a great deal of interest in recent years. Consumers and businesses throughout the world have shown strong support for mobile commerce, praising this field for the convenience it brings to retail and other sectors of business. Net Element International is one among several companies that are beginning to show very aggressive interest in mobile payments.

Funding to be provided to Skolkovo Foundation

Net Element International has announced that it has entered into an investor agreement with the Skolkovo Foundation, a research and development firm funded by the Russian government and based in Moscow. Through this partnership, the two companies will work together to develop new mobile payments technologies. Net Element will have access to their technologies during their early stages of development and will be able to use these technologies in a variety of pilot projects that are likely to take form in the near future.

Mobile Payments InvestmentsNew mobile payments technologies to be developed over next three years

More than $12 million is being devoted to the research and development of mobile payments technologies and services over the next three years. The services and technologies developed by Skolkovo are expected to play a major role in the progression of mobile commerce in Russia and several countries in the European Union. Net Element is keen to support the development of new technologies and services in order to establish a stronger presence in the competitive field of mobile commerce.

Russia may be ideal location for new mobile commerce services

Net Element is no stranger to mobile payments and has been investing in this field for some time. The company has already established a formidable presence in this field, but has begun seeing more competition emerge from large companies that also share an interest in mobile payments. Thus far, Russia remains somewhat cut off from the growth of mobile commerce, which may provide Net Element with a powerful opportunity to establish its leadership in this field.

Mobile commerce application receives more support in Thailand

Mobile Commerce ThailandShopSpot mobile commerce platform wins more funding

ShopSpot, a mobile commerce startup based in Thailand, has announced that it has raised $630,000 in investments, much of which came from Jungle Ventures and SingTel Innov8. The company’s mobile commerce application of the same name is designed to be easy to use in order to be universally accommodating to consumers of all kinds. ShopSpot notes that ease-of-use is one of the most important aspects of mobile commerce that is often overlooked by many of the larger companies that are involved in the mobile market.

Application offers several innovative features to consumers

The mobile commerce application does not only allow consumers to purchase products using their mobile device; it also allows them to shop for products that they are interested in. The application can use location-based information to help consumers find products in an efficient manner. It also enables consumers to communicate directly with a retailer, though retailers are unlikely to participate in this communication due the lack of staff committed to chatting with individual consumers.

Monetization absent from ShopSpot

Notably, the application does not have its own monetization model in place. ShopSpot does not impose any fees on transactions made through the application and does not offer advertising services to companies. This may be due to a trend that has emerged in the Asian market wherein many consumers will avoid applications that charge them for services. As such, many mobile commerce applications that have been launched in Asia have seen modest success as the majority of these applications charge consumers for every transaction they make.

Investments keeps ShopSpot afloat

Investments will help keep ShopSpot going for the foreseeable future, but the company may have to introduce some kind of monetization system eventually. Whether consumers will be willing to embrace the application after such a system is in place is difficult to know for sure. For now, the application helps fill a gap that has existed in Thailand burgeoning mobile commerce market, making it well received among many consumers.