Tag: mobile payment apps

Snapchat may be looking to break into mobile payments

| July 23, 2014

Popular app files two trademarks that could dictate its future

Massively popular mobile photo-sharing application Snapchat may be looking to solidify its future as a relevant application by embracing mobile payments. The app has become widely popular among a large demographic, but its uses are somewhat limited. It exists as a photo and video-sharing platform, through which users can share snippets of their lives with those on their contact lists. Typically, the pictures and videos shared through the app have a very short lifespan, with some lasting only seconds before being lost forever.

Trademarks highlight mobile commerce services

Snapchat has filed two trademarks that highlight its interest in the field of mobile commerce. The trademarks suggest that the company is interested in accepting, processing, and transferring payments among its users. One of the trademarks refers to computer application software that is responsible for handling electronic payments. The trademark suggests that this software can be downloaded from a global network, allowing it to be accessed by potentially millions of users. The second trademark filed by Snapchat involves the electronic transfer of money to others. This would involve the transfer of funds from various sources, including mobile devices.

Snapchat may be able to find enduring success by engaging in mobile commerce

Mobile payments Snapchat has not yet revealed how it intends to implement these new trademarks, but a focus on mobile commerce could help the company establish lasting relevance among its users. Snapchat is not the first photo-sharing application and it will not be the last. Many of its predecessors have faded into obscurity because they had little in the way of versatility. Apps that offer more than just a single, relatively simple feature have the potential to remain relevant among consumers that are generally quite fickle about the apps that they use.

Snapchat has limited experience in mobile payments

The demand for mobile commerce is on the rise. Consumers want to make use of new services that allow them to manage, transfer, and use their funds at their discretion. Snapchat may not have extensive experience with mobile commerce, but it does have access to a massive consumer base that may respond well to whatever efforts it ends up making in the mobile payments field.

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.