Tag: bitcoin

Consumer behavior about mobile commerce is changing

Study highlights the changing support that is coming from mobile consumers

When it comes to commerce security, Bitcoin may be safer than mobile wallets, according to a new study from Walker Sands. Security has become a major topic among consumers since the advent of mobile commerce. More people are using their mobile devices to shop for and purchase products, which has highlighted the security risks that exist in the digital space. When it comes to protecting financial information, the study shows that consumers believe that cryptocurrency is the safest way to stay protected.

Cyrptocurrency is considered more secure for mobile commerce than mobile wallets

Cyrptocurrency is a medium of exchange that leverages cryptography to make transactions more secure than they would be on their own. Bitcoin is one of the more popular forms of this currency, but these currencies are not generally well supported by government and banking organizations. The study from Walker Sands shows that 3% of consumers believe that Bitcoin, and similar currencies, are more secure when making transactions online. By comparison, 1% of consumers believe that mobile wallets are safe to use.

Mobile commerce has become a target for malicious groups that want to steal financial information from consumers and businesses

Consumer opinion about mobile commerce changingMobile commerce has become a very attractive target for malicious groups that want to exploit the financial information of consumers. Some mobile wallets have been targeted by these groups, some of whom are exploiting the security flaws of mobile commerce platforms. Not all platforms are dangerous to use, of course, and those that are targeted tend to become more secure in a very short amount of time after a malicious attack.

Businesses are becoming more active in making mobile commerce more secure

The study shows that the majority of consumers (56%) believe that cash is still the most secure way to make a purchase. Credit cards follow behind cash. The study has taken note of the changes in consumer behavior, especially concerning security issues. The study also shows that retailers and other businesses are taking steps to make mobile commerce more secure and attractive to consumers.

Consumer experience may be the future of mobile payments

Mobile commerce in 2015 may see a new focus on consumer experience

Mobile payments may thrive in the coming year as companies begin to place more focus on improving consumer experience and adding new services to their payment platforms. During the Consumer Electronics Show in Las Vegas, Nevada, representatives from companies that are deeply involved in the mobile payments space shared some insight into the future of digital commerce. Executives from Coinbase, a Bitcoin firm, MasterCard, and LoopPay attended the event, where they predicted that 2015 would be a good year for mobile commerce.

Many do not see mobile payments as a viable alternative to their wallets

According to Will Graylin, CEO of LoopPay, one of the greatest challenges that mobile payments faces currently is that consumers do not see mobile platforms as a reliable alternative to their physical wallets and payment solutions. Graylin suggested that if mobile payments are accepted at 220,000 retailers in the United States, compared to the more than 10 million locations that accept traditional forms of payment, consumers are not likely to show much enthusiasm for mobile commerce. Overcoming this challenge has become a priority for the mobile commerce industry.

Improving consumer experience may help mobile commerce thrive

Mobile Payments - Consumer ExperienceIn the coming year, businesses may be putting more focus on their mobile initiatives. Adam White, director of business development and strategy for Coinbase, suggests that services with location-based rewards and other features may find more success. The demand for all-in-one solutions, where consumers can compare prices, find deals offered by local retailers, and pay for their products is growing. Accommodating this demand could help mobile payment firms gain significant momentum among consumers.

Firms that focus on consumer experience may find the success they need

Consumer experience may be the thing that directs mobile commerce efforts going into the future. Providing consumers with an enjoyable and convenient experience has helped some payment services find success. As consumer experience becomes more important, payment firms are likely to introduce new features to their services, which include location-based rewards, support for a wider range of loyalty programs, and better payment infrastructure support.