Category: Mobile Payments

Mobile commerce is thriving in India

| December 5, 2014

Amazon India reports impressive results from the mobile space

Mobile commerce is expected to become a powerful force in India within the next few years. Amazon India sees high hopes for mobile shopping in the country, suggesting that the mobile space will contribute as much as 70% of the company’s total revenue. As more consumers throughout India gain access to mobile devices, they are beginning to use these devices to shop online. It is estimated that more people in India access the Internet from their mobile devices than their personal computers.

Smartphone penetration is leading to a growing population of mobile shoppers

Growing smartphone penetration has lead to more people looking into the concept of mobile commerce. These consumers have shown an interest in the convenience that mobile shopping represents and are flocking to sites like Amazon and eBay to shop online. Amazon India notes that 40% of its current online traffic comes from mobile consumers. This percentage is expected to grow as more people rely on their smartphones when shopping online.

Snapdeal also finds success in engaging the mobile space

amazon - India Mobile CommerceAmazon India is not the only company finding success in the mobile space. Snapdeal, one of India’s leading online retailers has also begun to focus on mobile commerce. Approximately 60% of Snapdeal’s orders are being made through mobile devices, according to the company. Within the next year, the company anticipates that 75% of its orders will come from mobile devices. Mobile shopping is expected to grow exponentially over the coming months due to the wide variety of mobile-centric services that retailers are beginning to offer.

Consumers are interested in shopping online with their mobile devices

Consumers have been showing enthusiasm for the idea of shopping online with a mobile device. The demand for in-store mobile payment support has also been on the rise, but retailers may be slower to embrace this idea than those that are based in the digital space. Retailers focusing on the mobile sector in India have managed to find significant success, and may opt to broaden their focus on mobile consumers in the future.

SimplyTapp raises more funding for mobile payments security solutions

| December 4, 2014

Company has raised $5.9 million during recent round of funding

SimplyTapp, a provider of Host Card Emulation solutions for cloud-based mobile payments, has announced that it has raised $5.9 million during its Series B funding round. The company notes that several new investors have contributed to its future and existing investors, such as Blue Sky Capital, have continued to show their support. Thus far, SimplyApp has raised some $7.6 million in funding that will be used to further develop its cloud-based security solution for NFC-powered mobile payments.

Security continues to be a problem for the mobile sector

Security has become a major issue in the mobile commerce field. Mobile devices are beginning to traffic a large amount of financial information coming from consumers and some platforms may not be able to keep this information safe and secure. NFC technology has become a popular mobile commerce tool, allowing for the transmission of digital information over short distances. This technology is also a target for malicious groups that want to exploit this digital information. The demand for better security solutions in the mobile commerce field has been on the rise for some time and companies like SimplyTapp are looking to accommodate this need.

Cloud-based solution may help make mobile payments more secure

Funding for mobile payments security solutionsSimplyTapp’s cloud-based solution may help provide consumers and businesses participating in mobile commerce with some peace of mind. The system is designed to authorize transactions and confirm consumer information through a cloud network. This provides an extra layer of security when financial information is being accessed. SimplyTapp has opened up its platform to developers in order to enable them to design new applications and services that are more capable of keeping consumer information safe.

Security concerns do little to stop consumers from participating in mobile commerce

Security has become one of the most significant challenges facing mobile commerce currently. Cyber attacks in this sector are becoming more common, and the lack of effective security solutions is one of the reasons behind this problem. Despite security concerns, consumers have shown that they are quite enthusiastic about mobile payments, wanting to use their smartphones and tablets more often when purchasing products.