Author: Stephen

Mobile payments are growing slowly

| September 24, 2015

Consumers are showing concern for the security and capabilities of mobile payments services

Mobile payments are growing quickly, but consumers are still not convinced that new payment technology will take hold. According to a new survey from Trustev, many consumers are still concerned about the security issues that exist in the mobile payments space and they are not certain that using a payment platform is in their best interests. As such, many have been slow to embrace mobile payments platforms, even if these platforms offer secure and convenient services.

Survey shows 1 in 50 iPhone 6 owners use Apple Pay regularly

according to the survey from Trustev, only one in 50 of the people that own an iPhone 6 actually make use of Apple Pay, Apple’s new mobile payments service, on a regular basis. The platform was released late last year and has managed to find some traction with consumers, but it has yet to become a commercial success. One of the reasons consumers are not showing aggressive interest in mobile payments may be a confidence issue.

Lack of confidence in mobile payments services is leading to low adoption among consumers

Mobile Payments - SlowIn the past, companies releasing new payments services have shown relatively little confidence in these services, which has had a significant impact on consumer adoption. Consumers have expressed concerns over modern payment services as well and this lack of confidence may be making mobile payments, as a whole, unattractive to consumers. Security is another issue that mobile payments faces, and security concerns are beginning to drive consumers away from new payment services.

Payment fraud is a major issue that organizations in the mobile payments field must worry about

Payment fraud is becoming a major concern for those involved in the mobile payments space. According to Chargeback911, payment fraud caused approximately $32 billion in financial damage in the United States in 2014. This is a 38% increase over the damage it had caused in 2013. Fraudulent payments are not restricted to the conventional commerce place, of course, and the mobile payments sector also faces the danger that fraud represents.

Crowd Mobile acquires prominent mobile payments firm

| September 22, 2015

Crowd Mobile announces its acquisition of Track Holdings

Crowd Mobile, a company operating within the mobile space, has announced the successful acquisition of Track Holdings, a leading mobile payments specialist based in the Netherlands. Through the acquisition, Crowd Mobile seeks to accelerate product launches and improve its promotional campaigns in markets throughout Europe. Crowd Mobile have been involved in the mobile payments space for some time and has been working with several companies in order to establish a stronger position in the mobile space as a whole.

Mobile commerce continues to expand throughout the European market

Europe has become a major mobile commerce market, with many consumers relying more heavily on their mobile devices to shop online for products and services. Retailers throughout Europe have begun to rely on the mobile space in order to effectively engage consumers and some are even beginning to support mobile payments in their physical stores. Over the coming years, mobile payments are expected to become much more prolific throughout Europe, especially in countries where smartphone penetration is high.

Track Holdings has managed to find success in the mobile payments sector

Mobile Payments AcquisitionTrack Holdings has proven to be a profitable mobile commerce business, which may be a boon for Crowd Mobile. The fact that Track’s mobile commerce platform is profitable, it may be able to provide Crowd Mobile with strong revenue growth. It may also allow Crowd Mobile to better engage a wider range of consumers, many of whom have been looking for access to a mobile payments platforms that suit their interests and needs.

Acquisitions continues to become more common in the mobile payments space

Mobile payments continue to expand throughout the world and acquisitions are becoming more common within this sector. Several companies are looking to acquire those that have shown that their mobile commerce platforms are successful. Such acquisitions are expected to lead to vast improvements in the mobile payments space. Large organizations competing with one another is expected to bring about the use of new technology that makes mobile commerce more secure as well.