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Mobile commerce is growing and attracting new merchants

| January 25, 2016

Mobile commerce continues to see strong growth throughout the world

The mobile commerce space is beginning to become more attractive to merchants throughout the world. More consumers are beginning to use their smartphones and tablets to shop online and in physical stores. These consumers are taking advantage of services offered by Apple, Samsung, and a variety of other companies. Notably, mobile payments services have been growing in popularity because of their increasingly secure nature, with some services having proven that they can effectively protect consumer information.

Retailers are planning to launch their own mobile commerce platforms

As mobile commerce expands, the number of merchants becoming involved in the mobile space is also growing. Driven by market demands, Walmart recently announced that it will be launching its own mobile payments service. Target has also revealed plans to develop such a platform in order to effectively connect with the growing number of mobile consumers. Both companies see a great deal of promise in the mobile commerce space and intend to capitalize on the growth of this sector in the coming years.

Consumers are still concerned about the security of mobile payments services

Mobile Commerce Attracting New MerchantsDespite the fact that the mobile commerce space is growing, many consumers are unconvinced that mobile payments services are worthwhile. According to recent analysis from Gartner, the majority of shoppers in the United States simply believe that traditional forms of commerce are adequate enough for their needs. Others believe that security faults exist in the mobile commerce space, leaving them exposed to serious digital threats.

Mobile commerce saw spectacular growth in 2015

Last year, mobile commerce saw significant growth, especially during the holiday season. According to a report from eMarketer, some 9.6% of the mobile population in the United States, an estimated 23.2 million people, made a mobile transaction in 2015. The mobile commerce space is beginning to attract a variety of merchants, many of whom have been looking for ways to connect with mobile consumers in a dynamic fashion. This trend is expected to continue into the future, especially as the demand for mobile commerce support continues to grow.

Mobile payments could see strong growth in 2016

| January 12, 2016

The mobile payments space failed to find mainstream success in 2015

Last year, mobile payments managed to gain momentum, but failed to become mainstream. Several companies, including Apple, Google, and Samsung, introduced new mobile payments services in 2015, but interest among consumers has been somewhat limited. Indeed, these consumers opted to use an existing platform provided by PayPal to spend their money on their mobile devices. While mobile payments may not have gone mainstream in 2015, this could change this year, as new services become available and companies begin offering better benefits to consumers.

Many consumers remain concerned about the security of mobile payments

One of the reasons that consumers have been avoiding mobile payments is because they are not convinced of its overall security. In the past few years, major retailers have reported major data breaches, which lead to the financial information of consumers being compromised. This has sown fear among consumers, who believe that mobile payments services may be exposed to exploitation. As such, they have shied away from services, despite the availability of new technology that ensures the protection of consumer information.

Consumers want to see more value from the services that they use

Mobile Payments - 2016 GrowthAnother problem that consumers have with mobile payments is that they do not see the benefit that services offer. While many services also function as a type of digital wallet, they do not consider the ability to store financial information valuable. Being able to take advantage of special deals being offered by retailers has added more attraction to certain mobile payments services, but consumers want more out of the products that they are using.

Supporting loyalty programs and improving security features may ensure the mainstream success of mobile payments

Companies involved in mobile payments may need to ensure that their services offer a worthwhile experience while also being able to keep consumer information safe. These companies will also have to show more support for loyalty programs, which have become quite popular among consumers. In doing so, these companies may be able to find more success in the mobile payments space in 2016.