Tag: singapore

GfK Group study highlights promise of mobile commerce in Singapore


Mobile Commerce SingaporeGfK Group releases new study concerning mobile commerce

The holiday season is here and that could mean major success for retailers looking to cater to the growing number of mobile consumers. A new study from the GfK Group, a consumer research agency, suggests that shoppers are planning to rely heavily on their mobile devices during the holiday season, at least in Singapore. Though the study focuses on Singaporean consumers, the trend of consumers relying on their mobile devices for commerce and online shopping can be seen all over the world.

Study shows online shopping could save consumers time and net retailers more money

According to the study, online shopping could save consumers as much as 45 hours, much of which is standing in line or waiting for service. This time equates to approximately $1,400, suggesting that retailers lose a significant amount of money if consumers lose time. The study also found that approximately 43% of all Singapore consumers are using their smart phones and tablets to find the products that they are interested in, a promising sign for mobile commerce.

Singapore proves to be promising mobile market

The GfK Group study notes that mobile commerce is growing in Singapore, and elsewhere. In Singapore, 78% of consumers use mobile applications to access online retail stores, with a sizeable portion of these people using these applications to purchase products. Singapore is one of the most promising mobile markets in the world, with a smart phone penetration of over 88%. This is part of the reason why companies interested in mobile commerce are so eager to establish themselves in the country.

GfK Group study commissioned by PayPal

The GfK Group study was commissioned by PayPal. The company has already established a powerful presence in the realm of commerce, but has been working to appeal to mobile consumers in a more appealing fashion. The company has been tracking the demand for mobile commerce services over the years and is positioning itself to meet these demands around the world.

MasterCard introduces new Display Card product


MasterCard continues to establish strong mobile commerce presence

Financial giant MastMobile commerce mastercarderCard continues its steady march into the world of mobile commerce with the release of a new credit card that could change the way people pay for products. Mobile commerce is poised to become a big part of the lives of consumers, many of whom are turning to their mobile devices for daily services and connectivity. As consumers become more dependent on their mobile devices, companies in the technology and financial industries are looking to establish a stronger presence in mobile commerce. MasterCard is poised to up the ante, so to speak.

Display Card combines smart phone technology with a credit card

The financial institution has revealed a new credit card that is equipped with a touch-sensitive keypad and an LCD display. MasterCard calls the products, simply, “Display Card.” The Display Card is very much like a smart phone in concept, but more akin to a traditional credit card in appearance. The card will function in much the same way MasterCard’s other products do, but will also have a use in mobile commerce. The keypad exists to allow users to authorize large purchases through the input of a password, while the LCD screen provides limited information concerning the purchase and the amount of money due.

Display Card on trial in Singapore

Currently, the Display Card is available only in Singapore. The card is currently being tested for its viability to various demographics of consumers in that country. Thus far, the card has been somewhat popular amongst the wealthy, but many other consumers seem to prefer their mobile devices when making a purchase of goods. Those without smart phones largely rely on traditional forms of commerce, such as bank cards or physical currency.

MasterCard could add new features in the future

Though the features of the Display Card are somewhat limited currently, MasterCard suggests that there are many things that can be done to the card in the future. Additional features can be added to the card to help it appeal more to consumers, allowing them to check their bank account balance for example. How this will affect the company’s place in the highly competitive mobile commerce business has yet to be seen.