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Mobile commerce survey released by MEF

| November 22, 2012

 

mobile commerce survey resultsMEF releases results of annual mobile commerce survey

The Mobile Entertainment Forum (MEF), a global trade association focused on the mobile media industry, has seen a marked rise in the realm of mobile commerce over the last few years. The trade group has released the results of a new survey that documents this growth and how consumers seem to be responding to the advent of mobile commerce services. The survey was conducted with the aid of On Device Research and spans 10 different countries, all of which boast of promising mobile markets.

Survey shows most mobile consumers engaged in some form of mobile commerce

According to the survey, nearly 88% of the world’s mobile media users are engaged in mobile commerce. The survey defines mobile commerce as “anyone using a mobile phone for research, purchase, or banking.” This definition is widely held as the standard in terms of mobile commerce, as this concept rarely refers to only mobile payments. The survey shows that research is the most popular form of mobile commerce, with 80% of all consumers using their mobile devices to find out more information on products and services.

Mobile commerce sees most growth in emerging markets

The survey shows that 55% of consumers around the world have made purchases using their mobile devices. The most growth in this facet of mobile commerce comes from emerging markets, such as Qatar, India, and South Africa. Mature markets, such as the United Kingdom and the U.S. remain somewhat static in terms of mobile purchases from consumers. The majority of mobile commerce is still reserved to the digital realm through e-commerce sites and online retailers, rather than physical purchases in stores.

Entertainment and convenience major reasons for mobile commerce engagement

According to MEF, entrainment and convenience are the primary reasons consumers around the world are interested in mobile commerce. Trust is also a significant factor, but many consumers continue to express concerns regarding the security of mobile payments. The companies involved in mobile commerce have been working to address these concerns, but consumers largely remain leery of having their financial information put at risk.

ICICI Bank teams with Vodafone to bring mobile commerce to India

| November 22, 2012

 

ICICI Bank partners with Vodafone to introduce m-pesa

India’s ICICI Bamobile commerce partnershipnk, one of the largest financial institutions in the country, is gearing up to launch a new mobile commerce service for consumers. The bank has teamed with Vodafone, a British multinational telecommunications company, in order to develop the platform and its associated application, called “m-pesa.” The mobile commerce initiation will be managed by Mobile Commerce Solutions, a wholly owned subsidiary of Vodafone, which will provide services to India’s growing mobile consumer population.

Indian consumers demand mobile commerce solutions

Mobile technology is becoming more common throughout India. As the country economy becomes more robust, consumers are finding it easier to purchase smart phones and other such devices. As these devices become more common, consumers are beginning to show more interest in mobile commerce and other services. ICICI Bank has taken note of this growing interest and is now moving to ensure that it can serve these consumers in an adequate fashion.

Application allows for mobile payments

The m-pesa application will allow ICICI Bank customers to use their accounts to purchase goods from retailers. The launch of the mobile commerce solution will be limited to the eastern region of India initially. This region includes Kolkata, West Begal, Bihar, and Jharkhand. ICICI Bank and Vodafone will keep a keen eye on the performance of the solution during this limited launch. Currently, the two parties foresee a phased launch, where the mobile commerce platform will be introduced to the rest of India in numerous stages.

Vodafone offers innovative security

ICICI Bank chose to team with Vodafone because of the company’s broad distribution reach and its innovative security protocols. Security is one of the most important aspects of mobile commerce and an issue that has been attracting a great deal of attention in recent months. Lackluster security from some mobile commerce platforms have left consumers with concerns regarding NFC technology and the safety of their financial information. Vodafone may be able to quell these concerns with its security features and help Indian consumers warm to the concept of mobile commerce.