Category: Mobile Payments

New mobile commerce firm wins investment support from Alibab and Ant Financial

| June 26, 2015

Koubei has won the interest of two of China’s largest companies

Chinese e-commerce mammoth Alibaba and Ant Financial, another prominent company in China, have each invested $483 million into Koubei, a joint venture in the mobile commerce space. Koubei is designed to provide consumers with the ability to order and pay for products from local services operating in China. Doing so can be accomplished over a smartphone, and the initial launch of this service will focus on food and beverage delivery.

Koubei aims to give consumers and merchants a new way to interact with one another

Those using Koubei will be able to use the Alipay Wallet to make mobile purchases. They may also be able to use the Taobao mobile application, which is controlled by Alibaba. Though the initial launch of the service will focus on the food and beverage segment, Koubei will expand to include local merchants, providing consumers with a way to purchase products from stores in their area. Koubkei may also provide merchants with promising marketing opportunities, giving them a platform from which to launch promotion campaigns and reach new mobile consumers.

Mobile commerce platform will serve as a boost for Alibaba and Ant Financial

Mobile Commerce - Company InvestmentKoubei intends to build a local services ecosystem that will be a benefit to merchants and consumers alike. This is something that Alibaba has shown significant interest in, as the company has its own food ordering and delivery business in the Tao Diandian brand. Ant Financial also has an interest in the mobile commerce ventures of Koubei, as the company has been involved in the mobile space for some time, managing Alibaba’s Alipay platform and making it possible for a wide range of consumers to purchase products from their mobile devices.

Mobile commerce continues to thrives in China

China has become one of the most robust mobile markets in the world. Smartphone penetration is high, and consumers have shown a great deal of interest in being able to shop for and purchase products with their mobile devices through a variety of platforms. Koubei will be one of the latest mobile commerce platforms to launch in China, and the support it has received from Alibaba and Ant Financial will give it a competitive edge.

Pinterest enters the mobile commerce space

| June 25, 2015

Pinterest is moving forward with its buyable pins feature

Pinterest is one of the latest social companies to become involved in the mobile commerce space. The company recently announced its buyable pins, a feature through which users can purchase products that they see on the social site. Pins, or pictures, will serve as a way to expose users to new products, giving them an opportunity to purchase what they see on their mobile devices through the Pinterest application.

Company will be working with Stripe to make mobile purchases possible over its platform

The social media company will be working with Stripe in order to handle the mobile payments made through its new feature. The idea behind the new feature is to make purchases on a mobile device quick and convenient for users. Buyable pins will show on all featured content on Pinterest, including search and recommendations. For example, if users see a picture of a jacket, they would also be provided with a link to purchase this jacket, with purchases being handled through the Pinterest platform. Users will also be able to compare products and prices.

Social commerce is becoming a focus for companies that want to engage mobile consumers more effectively

Mobile Commerce - Pinterest AppMobile commerce has become an important focus for many social media companies. These companies have taken note of the rise of mobile technology and the role that smartphones and tablets are playing in the daily lives of consumers. These companies are beginning to expand upon a concept called social commerce, which involves the purchasing of products over social media networks, such as Facebook and Twitter. These networks have already launched their own purchasing features, providing Pinterest with competition.

Social commerce can be very beneficial for retailers

Social commerce is growing quickly and consumers have become more interested in purchasing products online with their mobile devices. Social networks represent a powerful way for retailers to gain exposure for their products and these networks can provide retailers with access to a very active and enthusiastic user base that has become interested in mobile commerce.