Written by Stephen Vagus

Author: Stephen

Consumer experience may be the future of mobile payments

Stephen | January 15, 2015

Mobile commerce in 2015 may see a new focus on consumer experience

Mobile payments may thrive in the coming year as companies begin to place more focus on improving consumer experience and adding new services to their payment platforms. During the Consumer Electronics Show in Las Vegas, Nevada, representatives from companies that are deeply involved in the mobile payments space shared some insight into the future of digital commerce. Executives from Coinbase, a Bitcoin firm, MasterCard, and LoopPay attended the event, where they predicted that 2015 would be a good year for mobile commerce.

Many do not see mobile payments as a viable alternative to their wallets

According to Will Graylin, CEO of LoopPay, one of the greatest challenges that mobile payments faces currently is that consumers do not see mobile platforms as a reliable alternative to their physical wallets and payment solutions. Graylin suggested that if mobile payments are accepted at 220,000 retailers in the United States, compared to the more than 10 million locations that accept traditional forms of payment, consumers are not likely to show much enthusiasm for mobile commerce. Overcoming this challenge has become a priority for the mobile commerce industry.

Improving consumer experience may help mobile commerce thrive

Mobile Payments - Consumer Experience In the coming year, businesses may be putting more focus on their mobile initiatives. Adam White, director of business development and strategy for Coinbase, suggests that services with location-based rewards and other features may find more success. The demand for all-in-one solutions, where consumers can compare prices, find deals offered by local retailers, and pay for their products is growing. Accommodating this demand could help mobile payment firms gain significant momentum among consumers.

Firms that focus on consumer experience may find the success they need

Consumer experience may be the thing that directs mobile commerce efforts going into the future. Providing consumers with an enjoyable and convenient experience has helped some payment services find success. As consumer experience becomes more important, payment firms are likely to introduce new features to their services, which include location-based rewards, support for a wider range of loyalty programs, and better payment infrastructure support.

Mobile commerce is helping India’s digital world thrive

Stephen | January 13, 2015

E-commerce in India is growing quickly, and mobile consumers are adding more momentum to this growth

India’s e-commerce market is booming, and the mobile Internet may be the reasons. According to a new report from eMarketer, 47% of India’s population became smartphone users in 2014. More than half of the country is expected to be mobile by the end of this year. As more consumers gain access to mobile devices, they are beginning to use their smartphones and tablets to shop online for products that they are interested in. As such, mobile commerce has begun to aid the growth of the e-commerce market.

Country’s e-commerce market is expected to hit $7.7 billion by the end of 2015, powered by mobile commerce

With the aid of mobile shoppers, India’s e-commerce market is expected to reach $7.7 billion this year, a 45% increase over 2014. This does not include travel spending, however, which has been growing quickly among mobile consumers. Expanding the country’s mobile Internet capabilities have made it easier for consumers to engage in mobile commerce and shop online with their mobile devices. The convenient nature of mobile commerce has also proven quite attractive to consumers.

Traditional retailers are engaging mobile consumers with augmented reality

The mobile space is not the only thing driving growth in India’s e-commerce market. Traditional brick-and-mortar stores are also driving people to the Internet to purchase products. Many retailers have begun to use augmented reality for their marketing campaigns, which has proven to be quite engaging for consumers. These campaigns offer consumers special deals if they shop online and help raise awareness of stores that are near their location.

India is becoming an attractive mobile commerce market for the retail sector

India is quickly establishing itself as one of the most active and attractive mobile commerce markets in the world. Several payment firms have begun to bring their mobile platforms to the country in order to take advantage of market growth. Several retailers have become more mobile-centric as well, working to engage mobile consumers in a more effective manner than they had in the past.