Author: Stephen

Bitcoin gains more support in the mobile commerce space

| October 9, 2014

Acromobile and Bitnet aim to take the risk out of digital currency

Acromobile, a mobile software provider, has announced that it has partnered with Bitnet, a prominent digital commerce platform, in order to enable merchants to accept payments in Bitcoin. The digital currency has been receiving more attention in the mobile commerce space, but many merchants are wary of it because of its somewhat dubious reputation. Bitcoin is extremely volatile, with its value fluctuating wildly for a variety of reasons. Acromobile and Bitnet believe that they can provide a “risk-free” solution for merchants dealing with Bitcoin.

New platform will enable merchants to accept payments made in Bitcoin without having to deal with the risks of the currency’s volatility

Bitnet’s commerce platform has been implemented into the software as a service Acromobile Payments solution. This will allow merchants using the solution to accept Bitcoin as a form of payment. Payments can be made by those using a mobile device. The platform also supports other forms of payment, including those made with debit and credit cards. The appeal of the platform may lie with its ability to effectively mitigate risk for merchants.

Retailers are somewhat wary of Bitcoin because of its fluctuating value

Mobile Commerce - BitcoinThe two companies are working to ensure that merchants will not be exposed to the digital currency’s price fluctuations. This is being accomplished through various tools that Acromobile has developed. The platform may help relieve some of the concerns that merchants have regarding Bitcoin, but whether or not the digital currency will gain any significant traction in the retail space may be something beyond the control of Acormobile and Bitnet.

The volatility of Bitcoin makes the digital currency a hard sell for retailers

Bitcoin is quite popular within the mobile commerce space, where it is seen as a viable form of currency by many. The volatility of the currency is a problem for retailers, however, as price fluctuations can leave them exposed to significant financial losses. A single Bitcoin is currently valued at approximately $331, but its value has been dropping steadily over the past few months.

Mobile payments has yet to reach its full potential

| October 7, 2014

Mobile commerce continues to grow more popular, but the market is becoming very fickle

Mobile payments are growing in popularity, but they have yet to reach their full potential. The mobile commerce space is constantly shifting as new payment services are introduced and companies move from one of these services to another very quickly. With businesses constantly changing the payment services they use, or opting to develop their own, it can be difficult for any single mobile commerce platform to gain traction. This can also lead to some confusion among consumers.

Convenience is what drives mobile commerce adoption

Mobile commerce is convenient, which is part of its appeal to consumers. Using a service like Apple Pay, someone can pay for goods and services with the information on their mobile device, removing the need to carry any kind of physical currency around. Digital wallets also serve as a replacement for conventional wallets. These applications have the ability to store credit card and payment information, as well as discount deals and special offers from retailers.

Retailers are moving from one mobile commerce service to the next, with some deciding to develop their own solution

Mobile Payments - 7-ElevenWhile there are some mobile commerce platforms that have managed to find success, many more are struggling to engage consumers, and the fickleness of businesses may be to blame. Convenience store chain 7-Eleven had been using an existing mobile payments solution in order to engage mobile consumers more effectively, but the company has decided to develop its own solution. As such, customers that have come to expect mobile payment support from 7-Eleven stores will have to wait until the company launches its own offering.

Restaurants are being affected by fluctuations in the mobile commerce market

Several restaurants have embraced the concept of mobile commerce, but they often move from one payment solution to the next. For restaurants that rely on a third party mobile commerce organization, any change that such an organization makes to its business structure or the services it offers can have an impact on a restaurant’s ability to accept mobile payments.