Mobile payments give m-commerce a shot in the arm

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A recent report from MEF has shown that uptake is driving a broad range of activities over this channel.

The Global Consumer Insights Series on Mobile Money has now been released by the MEF, and it has revealed its belief that mobile payments are among the primary drivers in m-commerce as well as the consumption of a broad range of other types of content over that channel.Mobile Payments Gives M-Commerce Shot in the Arm

The report was based on an analysis of data from 13 different countries.

This included the answers to survey questions from approximately 10,000 respondents. This data pointed out a number of global and regional trends in the uptake of mobile payments and the ways in which this adoption was stimulating growth across other areas in this channel. The report showed that last year, 15 percent of users of mobile media had made some kind of digital purchase over a smartphone or tablet.

Wallets were the most popular form of mobile payments that were used by the respondents.

The largest group of those that had used these digital transactions (representing 7 percent of the total number of respondents) had used mobile wallets, particularly those that used NFC technology to verify and complete the transaction.

The research from this report was conducted along with On Device Research. It has underscored the importance of users of smartphone based money to the overall m-commerce marketplace. They pointed out that the individuals who are already using digital transactions over smartphones and tablets are 26 percent more likely to make a purchase over their mobile devices.

Worldwide, a tremendous 91 percent of those digital money users also made some kind of purchase over their gadgets in 2013. Comparatively, among all mobile consumers, 65 percent did the same.

Users of mobile payments are also the ones who spend the largest amounts on individual purchases. In fact, they have a 10 percent lower likelihood of making a purchase of a low value. Moreover, their purchases are 14 percent more likely to be within the mid-value range. That said, they are not only more likely to make more purchases, but they also take part in a broader range of activities over that channel, such as scanning QR codes (12 percent more likely), make a charitable donation (11 percent more likely), or use location based services (10 percent more likely).

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