Tag: retail industry

2015 may be the tipping point for mobile payments in Canada

| January 16, 2015

Canada may soon become a prominent mobile payments market

Mobile payments may reach a tipping point in Canada, according to a report from professional services firm Deloitte. The report notes that more Canadians are beginning to use their mobile devices to pay for products. This may not be surprising, as many consumers have begun to use these devices in every aspect of their daily lives. Smartphones and tablets are used for social and entertainment purposes, but are also attracting attention as alternatives to traditional physical wallets.

Report shows that more businesses are beginning to support mobile commerce

The report predicts that 2015 will be the year when mobile payments begins t see widespread support in Canada. Retailers, banks, and telecommunications companies are beginning to adopt mobile technology at a rapid pace, allowing more consumers to take advantage of mobile services. The retail space, in particular, has shown a strong interest in mobile commerce because of the large number of mobile consumers that flocked to retail sites during the last holiday shopping season.

NFC technology is becoming more prolific in Canada

mobile payments - NFC technologyThe report notes that the number of NFC-enabled mobile devices is growing throughout the country. As these devices become more available, a larger number of people are gaining the ability to participate in mobile commerce. NFC technology has made up the majority of the mobile commerce infrastructure for years, but this technology has only recently begun to receive the support of the retail and financial services industries. The report shows that a growing number of retailers are beginning to acquire NFC-enabled point-of-sale systems in order to accept mobile payments more effectively.

Mobile commerce is growing, but cannot yet be considered a mainstream success

While mobile payments are gaining momentum in Canada, this sector is not yet mainstream. Consumers continued to favor traditional forms of commerce when doing business with retailers, seeing little benefit in the availability of mobile wallets and other such services. The primary benefit of mobile commerce, however, may be convenience, as it can allow consumers to purchase products relatively quickly and with little trouble.

Mozido acquires major stake in promising mobile commerce firm

| December 23, 2014

Mozido now holds majority stake in CorFire

Mozido, a mobile commerce firm that has been gaining more fame in recent months, has taken up a significant stake in CorFire, another mobile commerce firm that specializes in point-of-sale systems. The agreement between the two companies will change Mozido’s name to Mozido CorFire Inc. Financial details of the deal have not yet been released to the public, but some speculation suggests that Mozido has invested hundreds of millions of dollars into CorFire.

CorFire had been owned by SK C&C, which now has a minority stake in the mobile payments firm

CorFire had originally been wholly owned by SK C&C, the IT service division of SK Group. The company had existed as one of South Korea’s major investments in to the mobile technology space of the United States. SK C&C will continue to hold a minority stake in CorFire, though Mozido will hold a greater sway over the company’s operations and its potential future.

Mobile commerce continues to flourish in many prominent markets throughout the world

Mobile Commere - AcquisitionMobile commerce has become quite popular throughout the world. Many consumers are using their smartphones and tablets to purchase products online, but there is still relatively little support for in-store mobile payments. As consumers become more mobile-centric, the demand for in-store payment systems that accept mobile transactions is growing rapidly. Companies like CorFire aim to accommodate this demand by providing retailers with the technology they need to engage mobile consumers. Mozido is well situated to assist in this endeavor.

Mozido helps retailers embrace the mobile space with its agnostic technology and services

One of Mozido’s major victories in the past is convincing traditional retailers to begin implementing mobile commerce services. The company has helped the retail industry become more mobile friendly, and it has managed to avoid some of the challenges associated with competition by being agnostic regarding payment platforms. Mozido supports mobile payments made from any platform, allowing its clients to embrace their favored payment method without having to worry about whether or not it is supported by the company’s technology.