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Mobile wallets losing favor in the world of mobile payments

Dan Gendro | April 20, 2013

Mobile payments sector seeing a decline in wallet applications

Mobile commerce is quickly becoming a major trend among consumers around the world. Many people consider mobile payments to be a simpler, more convenient way to pay for goods and services, partly due to the fact that mobile technology is so prolific. Much of mobile commerce has been powered through the use of mobile wallets, lightweight mobile applications meant to store and use financial information. While mobile commerce has been seeing strong growth over the past two years, these mobile wallets have not been growing more popular among consumers.

Wallets had been popular, but focus on NFC drives consumers away

In the advent of mobile payments, mobile wallets had been considered a necessary platform for mobile commerce as they provided much of the needed infrastructure for this form of commerce to work. Many of these applications are based on NFC technology, which allows for digital information to be transmitted over short distances. The problem, however, is that NFC technology is not universally supported throughout the mobile space. Indeed, the technology has been losing support from many of the companies and organizations that have emerged as strong players in the field of mobile payments, such as PayPal.

Consumers, as well as device makers, are favoring options free from NFC

Mobile wallets are beginning to give way to other applications that take a more accommodating approach to mobile payments. These applications seek to enable a wider range of consumers to participate in mobile commerce, which had, in the past, been largely restricted to those with NFC-enabled devices. These devices are still rare despite the efforts of companies invested in mobile commerce to see their expansion. A growing number of device manufacturers are beginning to abandon NFC technology, favoring mobile commerce platforms that offer some alternative.

Wallets may still be valid in mobile payments if an alternative to NFC is found

As device makers, like Apple, begin to move away from NFC technology, mobile wallets may be due for some change. These applications still receive significant support from Google and Isis, but the NFC-capabilities of these platforms make them unaccommodating to the growing interests of consumers. If organizations focused on mobile commerce want to retain the foothold they have established in this still emerging sector, they may soon have to consider finding an alternative to NFC technology.

Mobile games may soon dethrone consoles

Dan Gendro | April 18, 2013

Mobile games are beginning to hold sway over the game industry as a whole

The game industry is currently experience a monumental shift as a new generation of consumers and technology enter into prominent markets around the world. For the past several decades, the game industry has been solely focused on console platforms, as well as PCs. The advent of mobile technology changed that focus, however, especially as advanced smartphones and tablets became extremely popular. Mobile games have quickly become one of the most lucrative aspects of the game industry, which has encouraged developers to swarm to the mobile space in order to take advantage of this popularity.

Developers beginning to swarm the mobile space

A few short years ago, mobile games were considered little more than novelty. They have, however, become one of the most successful fields in the game industry. Consumers around the world have shown that they are exceedingly interested in mobile games of all types, sinking hours upon hours of their times into games like Angry Birds and Temple Run. As these games find more and more traction among consumers, a growing number of developers are breaking away from publishers in order to establish their independent pedigree, much to the delight of consumers.

Consoles may be in for a tough fight

As developers find more success with mobile games, they are beginning to hold more power over the game industry. The industry has long been dominated by consoles, such as the Playstation and Xbox, but mobile devices are threatening to dethrone these platforms. A new generation of consoles is expected to be released sometime this year by Sony and Microsoft, but whether these platforms will be able to compete with mobile games has yet to be seen. ABI Research, a leading market research firm, suggests that competition with mobile games may be fierce.

Research firm suggests that mobile games are cutting into console opportunities with casual gamers

According to ABI Research, mobile games have diminished the opportunities available to consoles in the casual gaming market. Mobile games have introduced consumers to a new business model, wherein they can get the games they are interested in for free or for a very small fee. In general, mobile games that do cost money are $5 to purchase, at their most expensive. The vast majority of these games, however, are free. Many of these games do have in-app purchases that are, at times, somewhat controversial with some consumers, but these have not diminished the appeal of mobile games in any significant manner.