Category: Mobile Payments

Swatch may be entering the mobile payments space

| May 11, 2015

Swatch to introduce a new wearable device in the coming months

Swiss watchmaker Swatch has plans to sell an affordable wearable device that is capable of making mobile payments. The company has been showing more interest in wearable technology, especially as others begin developing such devices for the consumer market. Swatch is no stranger to wearable technology, as watches are a form of such technology themselves, but the company has not yet build what could be called a “smartphone worn on the wrist.”

New device will have mobile payments capabilities, supported by NFC technology

Swatch is expected to unveil its wearable device in either July or August of this year. The company believes that it will compete with Apple Watch, which was released in April. The device will be called the Swatch New Gent watch and will come equipped with NFC technology. NFC currently makes up much of the mobile payments infrastructure, serving as the tool that many platforms use in order to make mobile transactions possible.

Swatch may compete with Apple with its inexpensive wearable device

Mobile Payments - SwatchOne of the attractive features of the new wearable device is its pricing point. Swatch CEO Nick Hayek claims that the least expensive iterations of the new watch will cost approximately $5.49, a far cry from the $349 price tag of the least expensive Apple Watch. More advanced versions of Swatch’s watch will be more expensive, but not by much. The low price of the device could make the watch more attractive to consumers that are interested in wearable technology.

Swatch is forming partnerships to make its efforts in the mobile payments space a success

Swatch claims to be entering into a major deal with a global credit card company to bring its mobile payments interests into a reality. The company is also considering adding NFC capabilities to its other brands, but has not offered any details concerning this plan. The company may soon become a prominent player in the mobile payments space, if its plans with its wearable device move forward without trouble.

QR codes help the growth of mobile commerce in South Africa

| May 11, 2015

QR codes are having an impact among South African consumers

QR codes have had a major impact on mobile commerce in South Africa. These codes have become a very prominent tool in the mobile commerce space due to how easy they are to use and produce. The codes can direct consumers to a wide variety of digital information, but can also be used to initiate a mobile transaction, making them ideal tools to merchants that want to sell products to mobile consumers quickly.

Research shows that consumers are using codes for a variety of reasons

World Wide Worx, a technology research firm, has released analysis that shows that more than 2 million people in South Africa are using QR codes via mobile applications. These codes are being used for a wide range of reasons, such as adding a person’s contact information to a messaging app. They are also being used to sell products to mobile consumers. When scanned, these codes can provide information on particular products, while also giving consumers the option to purchase the products that they are interested in.

Young consumers show the most interest in QR codes

QR Codes - Mobile CommerceNotably, QR codes are most popular among those between the ages of 25 and 34. These consumers are more comfortable with the concept of mobile commerce and believe that these codes are effective tools to engage in this sector. The codes are also praised for their social aspects, as they have become quite popular among social media users in South Africa. The codes can be programmed to store contact details and other such information.

QR codes help power growth of mobile commerce

Consumers in South Africa have shown a great deal of interest in mobile commerce. New payment platforms have managed to win the support of these consumers and retailers are beginning to take notice. As such, merchants are looking for ways to embrace the concept of mobile commerce and some have begun turning to QR codes in order to do so. Some had predicted that QR codes would die off in the coming years, but mobile commerce may have saved these codes for the time being.