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Mobile payments firm wins backing of Groupon and American Express

BWild | June 4, 2013

SumUp wins funding to expand mobile payments services

A mobile payments startup based in Berlin, Germany, has received the financial backing of large companies like Groupon and American Express recently. SumUp is a relatively new startup company that currently operates in 11 European countries and has helped expand mobile payments throughout the region. Consumers have been growing more comfortable with the idea of mobile commerce and have been demanding new services that are more comprehensive and more convenient for their needs.

Company may be able to establish stronger foothold in Europe

SumUp has announced that it has raised several million dollars in funding from companies that are interested in its approach to mobile payments. The funding is expected to help SumUp expand the services it offers throughout Europe. While mobile commerce has managed to establish a strong foothold in Europe, it is still considered a young sector that faces significant challenges that can derail growth and progress. Appropriate levels of funding could help mobile payments overcome these challenges and find better traction throughout the world.

Large companies currently dominating mobile commerce field

SumUp is not the only mobile payments firm operating in Europe. Several larger companies, such as PayPal, have begun to muscle into the mobile commerce sector in the region, all looking to establish some rapport with consumers and make them more comfortable with the concept of making mobile payments. Whether SumUp will be able to compete with these larger companies is uncertain, but the firm may be able to beat out smaller competitors that exist in the market.

UK consumers show great deal of love for mobile payments

Thus far, consumers in the United Kingdom have been the most willing to embrace mobile commerce. The country already has a robust mobile payments infrastructure. Several companies in the UK have embraced mobile payments, creating a highly competitive environment that has been unaccommodating to smaller companies that are not backed by significant funding. Fortunately for SumUp, both Groupon and American Express have considerable faith in the company.

Zynga pins hope on mobile games

BWild | June 3, 2013

Mobile games may determine the fate of Zynga

Troubles game developer Zynga has been working to restructure itself recently. The company has struggled to find some stable ground after losing the faith of Facebook, which had once been its primary distribution platform. Zynga has set its sights on mobile games, believing that the mobile space will provid ethe company with the momentum it needs to reclaim the favor of consumers throughout the gaming market. Zynga has yet to find this momentum, however, as it has not yet produced a successful mobile game.

Company reporting drop in revenue and daily active users

Zynga has reported an 18% drop in revenue in the latest quarter of this year. The company’s financial troubles have continued for several consecutive quarters. Zynga’s financial problems are being exacerbated by the falling number of consumers that are playing the company’s games. Zynga has reported that the number of daily active users has dropped by 21% in the latest quarter. The company believes that mobile games can turn its fortunes, but whether or not the company can perform well in the mobile space has yet to be seen.

Zynga aims for success with sequel to Draw Something

Zynga is placing much of its hope for the future on a new game it is planning to release in the near future. This game is a sequel to the highly acclaimed Draw Something, which was originally developed by Omgpop. Zynga spent $180 million to purchase the rights to Draw Something in March of 2012, but consumers quickly lost interest in the game once they heard that Zynga had become involved. Draw Something had been one of the most popular mobile games of its time and Zynga believes that consumers will respond well to a genuine sequel to the title.

Mobile games have trouble holding consumer attention

Consumers tend to lose interest in mobile games rather quickly, due to the nature of these games. Mobile games are not typically designed with any significant level of depth, thus making the entertainment they offer to consumers somewhat limited. Those with short attention spans typically move on to new mobile games quickly, even if their experience with a particular game had been favorable.