Tag: russia

Consumers want more from mobile payments

Many consumers have high expectations that have yet to be met

Engaging consumers in the mobile space is proving to be quite difficult, especially where commerce is concerns. Reputation Leaders, an independent research firm, conducted a study between April 29 and May 20 of this year. Some 15,000 people between the ages of 18 and 64 from 15 of the world’s largest markets were surveyed and the firm found that there are significant variances in mobile payment activity throughout the world. The study suggests that consumers in these markets are expecting more from the mobile commerce space, but they are being let down.

Study shows that China leads the way in mobile commerce activity, followed by Russia

According to the study, China leads the way in terms of mobile commerce activity. Some 90% of respondents in China said that they use their mobile devices to purchase products and services regularly. Russia comes in second, with Brazil and Turkey following. Despite the high number of people participating in mobile commerce, the payments process remains somewhat cumbersome. In China, 35% of consumers want mobile payments to be easier than they are currently. If payments were easier, more consumers would likely participate in mobile commerce.

US consumers want to see more businesses embrace mobile commerce

mobile payments - consumersIn the U.S., 54% of respondents to the survey believed that small businesses could benefit from mobile and digital commerce. If mobile payments were easier, more businesses throughout the country may benefit, as cash flow would become smoother and somewhat more reliable. Mobile consumers are a large demographic that is growing quickly. These consumers account for a great deal of commerce potential, but relatively few businesses are engaging these consumers in an effective manner.

Technology could help make commerce more convenient for consumers in general

A similar study from PayPal found that 70% of consumers throughout the world felt that technology could make commerce much simpler than it is currently. Mobile technology, such as QR codes and NFC, could streamline commerce, creating easier ways for consumers to pay for goods and services and take advantage of the convenience of mobile commerce.

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.