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Mobile commerce explodes in China

BWild | May 23, 2013

Chinese mobile commerce shows promising growth

Mobile commerce has been making impressive progress throughout the world, but the scene has been seeing the most activity in China. The country has become a hub for mobile technology and innovation and many of the consumers living there were among the first to embrace mobile commerce. Chinese consumers have been attracted to the convenient nature of mobile payments and many have praised the services that have been opened up to them over the past two years.

Sector expected to reach $41 billion by 2015

A new report from iResearch, a market research firm, shows that mobile commerce has grown exponentially throughout China. According to the report, mobile commerce was worth $7.8 billion by the end of 2012. The report also expects this growth to continue, reaching $41 billion by 2015. While the sector has grown as a whole, one company has emerged as the dominating force in the mobile commerce field.

Taobao leads in mobile payments

Taobao, one of the largest mobile-based shopping organizations in the country, has established a formidable force when it coes to mobile payments. The company is part of the Alibaba Group, which is the most influencial online retailer in the country, eclipsing competitors Amazon and eBay. Tabao is the Alibaba Group’s consumer-to-consumer shopping platform, operating in much the same way that eBay operates in other parts of the world. The company represents more than 75% of the online retail market in China.

Retailers find success through engaging mobile consumers

Taobao, along with other retailers, has put strong focus on mobile commerce in order to appeal more to consumers tethered to smartphones and tablets. This focus has served these retailers well as consumers have shown a penchant for shopping for products even while at work or traveling. Mobile commerce allows these consumers to maintain a constant connection with retailers, allowing them to make purchases at any time they choose.

New mobile commerce platform to launch in Ireland

BWild | May 22, 2013

Stripe aims to bring mobile commerce to Ireland

Stripe, a payment processing company, has been working on a mobile commerce platform recently and has plans to launch this platform in the coming months. The first market that will receive access to the Stripe platform will be Ireland, where mobile commerce has been attracting a significant level of attention over the past several months. Ireland will serve as a launch platform for Stripe before it moves into other markets throughout Europe.

European consumers demanding new platforms

European consumers are beginning to grow more comfortable with the idea of mobile commerce. The proliferation of smartphones and tablets has made it exceedingly easy for these consumers to get involved in online shopping. Companies like Telefonica, for example, are making a strong push to promote mobile commerce among consumers, but comprehensive platforms like Stripe are needed in order to ensure that consumers have a way to make mobile payments.

Stripe could be popular with businesses

The Stripe platform is not only designed for consumers, as it can also be used by companies that are interested in mobile commerce. The platform allows these companies to accept mobile payments from any platform, whether it be a website, mobile device, desktop, or tablet. This could be a well received tool in the retail sector as many companies have been seeking out new platforms that can help bolster their mobile commerce performance.

Stripe to face major competition

Though Stripe may have strong ambitions and the backing of powerful investors, it will still face strong competition in the mobile commerce space. Large companies like Square and Barclays have been pushing their way into this market, establishing a dominating presence therein. If Stripe can find a foothold with consumers and businesses, it may become Europe’s next mobile commerce phenomenon, effectively exposing many consumers to the idea of mobile payments.