Author: Denny

Mobile commerce may be at the heart of a new revolution

| April 1, 2013

ebay mobile commerceeBay has high hopes for mobile commerce

Online retail giant eBay believes that mobile is leading a revolution in the commerce sector. According to eBay, this revolution will change the way consumers purchase and search for products around the world. This week, the retailer has unveiled a new three-year growth strategy that has a heavy emphasis on mobile commerce. eBay expects mobile commerce to play a major role in its future business and is working to ensure that it is as accommodating to mobile consumers as it can possibly be.

eBay and PayPal experience heavy activity in the mobile space

eBay has already experiences strong performance in the mobile commerce sector through itself and its subsidiary PayPal. Where eBay is concerned, more consumers are opting to use their smartphones or tablets to shop for products. These consumers are also more apt to purchase products from their mobile device rather than from a PC. PayPal has been reporting a growing number of transactions being made from mobile devices, whether they involve purchasing products or transferring money from one account to another. This activity has built up eBay’s confidence in the mobile commerce sector.

Mobile commerce expected to reach $300 billion by 2015

By 2015, eBay expects global mobile commerce to reach the $300 billion mark. The company notes that this will translate into revenue growth of 50% or more by the end of 2015. Mobile commerce will be behind much of the growth that eBay is expecting to see over the next three years and the retailer estimates that it will be able to beat out its competitors in its given industry. Amazon, which is eBay’s only major competitor, has also been showing strong interest in mobile commerce. Whether eBay will be able to overcome Amazon may depend largely on the mobile commerce plans of the latter.

Consumer interest powering mobile commerce growth

eBay suggests that mobile commerce is becoming more important for consumers as they become more comfortable with the concept. As more consumers get their hands on smartphones and tablets, they are becoming increasingly exposed to the prospects of mobile commerce. As such, they are becoming more likely to purchase products and shop with their mobile devices than they have ever been in the past few years.

Mobile payments take the limelight in Canada

| March 30, 2013

RBC Mobile PaymentsFinancial institutions becoming more invested in mobile payments

Financial institutions all over the world are becoming more interested in the concept of mobile payments. As consumers become more reliant on their smartphones and tablets, they are looking for new, more convenient ways to make purchases. Nearly everything that consumers do these days has some tie to the mobile world, making it more important for companies, like financial institutions, to cater to the demands of mobile consumers in order to remain relevant in a world that is changing around them.

Royal Bank of Canada takes a swing at mobile commerce

The Royal Bank of Canada has become one of the latest major financial institutions to begin embracing mobile payments. The organization has announced its entry into  the mobile commerce arena this week with the demonstration of a new touch-free transaction system designed for smartphones. The system, which is linked to a new application call Interac, makes use of NFC technology to allow consumers to purchase goods and services. The use of NFC technology allows a smartphone to be used as a payment platform without having to make actual physical contact with anything, as the technology transmits data over a short distance.

NFC continues to worry consumers

NFC technology has been a staple in mobile payments for some time, but many consumers are becoming increasingly wary of the technology. NFC has been linked to several security risks in the past and can be exploited to gain access to a consumer’s financial information. A growing number of companies interested in mobile commerce are choosing to forgo NFC in favor of simple mobile payments applications or, in some cases, the use of QR codes to activate mobile transactions.

Security may not be a problem with Interac application

The Royal Bank of Canada has taken note of the security concerns that consumers have in regards to their financial information and NFC technology. Interac features numerous security measures that are closely tied to the financial institution’s own security systems. The application is considered safe enough to use for mobile payments and if the Royal Bank of Canada can placate the fears of consumers, it may be able to beat out the competition it has in the Canadian mobile commerce sector.