Tag: mobile commerce services

Companies come together to promote mobile payments and offer new services

| August 11, 2014

Rocket Internet receives sizeable investment from the Philippine Long Distance Telephone Company

Rocket Internet, an e-commerce incubator based in Germany, has announced that it has received an investment from the Philippine Long Distance Telephone Company. The investment means that the telecommunications company has taken a 10% stake in Rocket Internet. Through this deal, both companies will be able to tap into the other’s expertise, especially when it comes to mobile payments and e-commerce.

Companies will work together to develop new technologies and mobile-centric services, focusing on mobile payments

Together, the two companies shave plans to develop new mobile and online payment technologies. These technologies are meant to be put to use in emerging markets, where mobile commerce is beginning to show promising activity. The Philippine Long Distance Telephone Company has expertise in the mobile payments space and will be making use of technology from Rocket Internet to empower its position in the mobile commerce market.

Mobile commerce is growing quickly in emerging markets where smartphone and tablet penetration is on the rise

Companies focus on mobile paymentsMobile payments are becoming more important to consumers throughout the world. This has to do with the high penetration of mobile technology. More people are beginning to rely on smartphones and tablets in their daily lives and, as such, are beginning to demand access to comprehensive services that are mobile-centric in nature. Companies are beginning to understand this demand and take steps to accommodate the needs of consumers in many parts of the world.

Many of those in emerging markets do not have access to a bank account, but that may change as mobile commerce services become more available

Mobile commerce is becoming particularly popular among those without bank accounts. Many mobile platforms are able to digitize a person’s finances without having to be linked to a bank account. According to the World Bank, many of the world’s emerging markets are filled with people that do not have a bank account of any kind. Better mobile services may change this in the future, as people may see the value of the security that banks offer when it comes to their financial information.

Standard Bank launches mobile payments app

| May 22, 2014

Banking organization releases new mobile commerce application

Standard Bank, a pan-African banking organization, has launched a new mobile payments application called SnapScan. Mobile commerce is becoming quite popular in Africa, especially as more people in various countries gain access to smartphones and tablets. The proliferation of mobile technology is having a major impact on commerce and the demand for mobile services is beginning to grow at a dramatic rate. In order to accommodate demand, organizations like Standard Bank have been releasing new services that are mobile-centric in nature.

SnapScan leverages QR codes to initiate mobile transactions

The new SnapScan service is meant to give consumers the ability to participate in mobile commerce through the use of QR codes. The application can scan these codes and initiative a mobile transaction. The codes can be associated with any sort of product or service and have become a very popular mobile commerce tool in recent years. These codes are quite easily produced and, in most cases, can be made for free, which is one of the reasons they are particularly popular among retailers and in the marketing field.

10,000 merchants in Africa accept payments from SnapScan app

Mobile Payments - Standard BankSome 10,000 merchants throughout Africa have partnered with Standard Bank in order to accept mobile payments coming from the SnapScan application. These merchants provide consumers with unique QR codes. Once the code is scanned and a payment has been issued, merchants receive an SMS message that verifies that the payment has been received successfully. SnapScan may become more popular in Africa as more consumers make use of the application and see its merits.

Security remains a major challenge for mobile commerce

Many people favor mobile commerce because of its convenience, but consumers are also wary of the mobile space because of the security threats that exist therein. Security has been a major problem for mobile commerce for some time, as it is a popular target for malicious groups that seek to exploit financial information. If organizations can find a way to boost the security of the services that they provide, they are likely to find success in the mobile space.