Tag: mobile payments use

The research, conducted by E-Complish, showed that there was a considerable 215 percent rise.

According to the recently released results of research from E-Complish, some of the most important mobile payments trends that have been observed include a major rise in the number of inquiries and transactions.

The firm went over the data that was available regarding the use of this technology over the last two years.

What E-Complish determined in their mobile payments trends study as that there has been an incrase of 215 percent in the use of this technology in 2013 when compared to the usage that was recorded in 2012. The company also noted that they had seen more than 30,000 transactions and that they had recorded processing over $4,500,000 by that date. Comparatively, in 2012, they had seen only 10,000 transactions and their total processing figure was only $1,500,000.

The company has stated that they have every reason to believe that these mobile payments trends will continue.

They feel that as consumers are coming to depend on their smartphones for a growing number of daily tasks, including for business purposes and for their banking, they will become increasingly willing and interested in using those same devices to pay for their purchases of products and services. Moreover, a growing number of companies have also started to integrate this form of transaction into those that they offer as the technology works more smoothly into their business models through its simplicity and accessibility.

The E-Complish results showed that customers are using smartphone friendly systems for a wide variety of different purposes, ranging from shopping apps, to personal finance apps, or even the option to pay for services through text messages.

Stephen Price, who founded the company in 1998, has had a careful watch over the mobile payments trends regarding implementation and processing among a range of different types of businesses. He pointed out that efficiency is the primary goal of the company when it comes to the use of the technology. He added that this tech fits into a “diverse range of business models. They’re easily adaptable, and this data proves their versatility.”

A recent market analysis has revealed that smartphones will become a major game changer in shopping.

Though slow to get started, mobile payments could soon prove to be extremely important to the retail shopping experience, as consumers begin to feel that using the devices as digital forms of credit and debit cards, as well as for loyalty programs, is trustworthy and convenient.

This trend would dramatically change the consumer experience as everything will be contained in one place.

Though wallets are stored, locked away, or left behind, in various situations, the odds are that a person will always have his or her smartphone in hand or pocket. Retailers are already using mobile commerce to appeal to online shoppers who access the internet with their smartphones and tablets, and now they are beginning to see the potential benefit from receiving transactions through these devices, as well.

Some feel that mobile payments could be the biggest revolution in retail in many decades.

A recent Business Insider report has stated that the “old dream of the digital wallet is coming true in a very mobile-led fashion.” The report indicated that by the end of last year, in the United States there were already approximately 7.9 million consumers who had adopted a system compatible with NFC technology (near field communications) or QR codes. These include examples, such as MasterCard PayPass, Visa Wallet, Google Wallet, and others that use apps for processing the transactions.

Equally, mobile payments through credit card readers on devices, such as PayPal, Square, and I Love Velvet reported processing transactions worth more than $10 billion last year.

Another report, this one recently issued by Gartner, has predicted that around the world, mobile payments transactions will break the $235 billion mark by the end of this year. That would be an increase of 44 percent over the figure from 2011.

When it comes to examples of mobile payments successes, Starbucks is typically said to be the leader as it has effectively implemented a range of different types of transactions, including everything from loyalty cards to QR code based purchases with a refillable retailer account.