Author: Denny

China to be one of the few countries to have a unified, national payments platform

China is currently working to develop a national mobile payments platform. Once the platform is launched, China will be one of the very few countries in the world to have a unified mobile payments system. Chinese consumers have been involving themselves in mobile commerce quite heavily in recent years. As mobile devices become more common throughout the country, people are using these devices to shop online more regularly. The country’s retailers have also been embracing mobile commerce in an effort to connect with a new generation of consumers.

Payment platform expected to make use of NFC Technology

China’s mobile commerce platform is to make use of NFC technology. The country believes that NFC has a bright future in mobile commerce because of the growing number of devices that are making use of this technology. NFC has formed the backbone of mobile commerce for some time and has been praised for its ability to transmit digital information over short distances efficiently. Unfortunately, mobile devices that do not support NFC technology are unable to use NFC-based platforms unless these platform offer support for devices that are not NFC-enabled.

Several organizations come together to help develop national payments platform for China

The China Constrction Bank, China CITIC Bank, China Everbright Bank, China UnionPay, and China Mobile have been linked to the development of the country’s national payments platform. These organizations already have some experience in mobile payments and have been promoting mobile finance for some time. According to the People’s Bank of China, mobile commerce is currently undergoing a standardization process wherein consumers are becoming more comfortable with purchasing products from their mobile devices.

Chinese consumers favor platforms that do not rely solely on NFC technology

Payments processed through NFC-based services represent approximately 0.8% of mobile spending throughout China. Many retailers have opted to support other mobile commerce services that do not rely entirely on NFC technology to engage consumers. Given the low availability of NFC-enabled devices, consumers have shown favor for NFC-free platforms that allow them to shop for and purchase products online.

The massive online marketplace has brought in AR tech for even faster buying abilities.

The iOS version of the Amazon app is now giving customers the opportunity to take advantage of Flow and augmented reality to help shoppers to be able to shop even faster and easier by scanning items in real life so that they will be able to instantly buy them from their own mobile commerce shelves.

This is making mcommerce headlines around the world as it changes the entire nature of shopping.

The idea is that a consumer at home would be able to spot an item that needs to be replaced or replenished and could simply pick up their mobile devices to scan it so that it could be automatically ordered. Undoubtedly, Amazon must also be hoping that consumers will also use this opportunity to order products from them while they are standing in another company’s brick and mortar retail stores.

The company expressed that using this augmented reality experience could make shopping as short as two seconds.

In fact, through the use of this technology, the shopping experience could be even shorter than that, once the consumer is truly familiar with this new version of mobile commerce. The Flow app was first launched in 2011 as a form of augmented reality software, and now its integration with the iOS version of the Amazon mobile app makes it possible for an item to be identified by aiming the smartphone camera at it so that Amazon can then find its replacement in its massive product inventory.

This image recognition function has been upgraded from previous techniques that involved barcode scanning, or searching by entering a product name and conducting a query using a manual search function on the website. If the image recognizer is not capable of identifying the item, the users are still able to fall back on the old fashioned searches or barcode scans. Reportedly, some of the most Flow compatible products are DVDs, CDs, video games, and books.

Once products have been scanned through this augmented reality mobile commerce experience, they are saved into a search history, which will make them even easier to reorder.