Author: Dan Gendro

Report predicts the rampant growth of mobile commerce revenue in 2015

| February 2, 2015

Gartner releases a report highlighting changing consumer behavior and mobile commerce growth

Gartner has released a new report that suggest that mobile behavior in the United States will continue to drive revenue growth in the mobile commerce space. The report highlights a “rampant” growth in interest in mobile payments, and this interest is expected to accelerate the growth of mobile commerce this year. Consumers are growing more comfortable with the concept of mobile shopping and, as such, are beginning to participate in this practice more regularly.

Mobile commerce revenue in the United States is expected to double this year

According to the report, mobile commerce revenue in the United States is expected to double this year. Many sectors of the mobile commerce field are expected to experience a 22% increase in revenue in 2015, with mobile commerce revenue as a whole growing by 50% in 2017. This growth is being powered by the number of people that are participating in mobile payments. As more people embrace mobile shopping, revenue in the mobile space will continue to grow at a rapid pace.

Large retailers may not to embrace mobile commerce more quickly than smaller retailers

Mobile Commerce ReportWhile retailers have been showing more interest in mobile commerce, large companies may not need to accelerate their mobile initiatives to engage consumers. Large retailers will likely continue to focus on traditional engagement strategies, as in-store experiences continue to be the most critical part of their business strategies. Smaller retailers, however, may see great benefit by embracing mobile commerce, as it will allow them to better compete with their larger counterparts and attract the growing mobile audience that is becoming more influential.

New standards could lead to safer mobile transactions in 2015

The report notes that changing credit card standard will lead to a shift in liability for fraudulent transactions this year. Retailers will be required to make updates to their point-of-sale systems in order to comply with these new standards. The standards are meant to support safer credit card purchases and make room for the growing prominence of mobile payments in the retail space.

New trends power the growth of mobile payments in the UK

| January 28, 2015

Retailers are becoming more mobile-centric as a result of emerging trends

New trends are emerging in the United Kingdom digital commerce space. A growing number of retailers are beginning to focus their efforts in the online world, finding ways to make the shopping experience more convenient for consumers. As such, they have begun embracing mobile payments, which allow consumers to make purchasing from their mobile devices in physical stores and online. This move toward mobile-centric commerce is being encouraged by consumers that are beginning to rely on their smartphones and tablets more in daily life.

E-money is beginning to bring more convenience to the world of commerce

As consumers begin to base more of their lives on mobile technology, they are looking for ways to make their shopping experiences more convenient. This has lead to the emergence of e-money, which is the digital representation of their funds. For some, using electronic money is considered safer and faster than using physical forms of payment. Digital currency is also more easily managed by some consumers, which makes it a more attractive option than physical currencies. E-money is becoming particularly popular among those that favor mobile payments.

Biometric technology could help mobile payments thrive

Mobile Payments - biometricsBiometric technology is also becoming more popular in the United Kingdom and the rest of Europe. A recent survey from WorldPay suggests that 49% of European consumers are willing to participate in mobile transactions that are protected by biometric technology. This technology allows consumers to authenticate a transaction using their fingerprints or other biologic information, such as their voice. A growing number of retailers and banks in the United Kingdom are beginning to embrace this technology because of the security it can bring to the mobile payments space.

UK retailers want to mimic the mobile success of their US counterparts

These trends are likely to bolster the attractiveness of mobile payments in the United Kingdom. Many retailers in the UK have taken note of the success that their counterparts in the United States have found in their mobile efforts. Many of these retailers are following the example of those in the United States, making efforts to become more mobile-friendly.