Tag: CurrentC

Mobile commerce market continues to grow in the US

| June 5, 2015

Mobile commerce has become a powerful force in the US

The mobile commerce market is growing quickly throughout the world. The advent of mobile technology has had a profound impact on the commerce sector, changing the way that people shop for and purchase products. Mobile commerce is still a relatively new concept, but consumers have shown a great deal of favor for being able to purchase products with their smartphones, both online and off. According to BI Intelligence, the mobile commerce market is expected to swell throughout the United States in the coming years.

In-store mobile payments expected to reach $37 billion this year

BI Intelligence predicts that in-store mobile payments will reach $37 billion this year. This is lower than the organization’s previous forecast, largely due to the late launch of new mobile payment services, such as Samsung Pay and CurrentC. Despite the downward revision of this forecast, more consumers are beginning to participate in mobile commerce, especially in physical stores. Retailers are making it possible for people to purchase products with their mobile devices while in stores, rather than forcing these people to purchase products online.

More consumers are participating in mobile commerce

Mobile Commerce Growth USAAn estimated 8% of mobile consumers in the U.S. made a mobile payment at least once in 2014. BI Intelligence predicts that this will swell to 65% of mobile consumers by 2019. Many people are beginning to feel comfortable with the concept of mobile payments, and this comfort is allowing them to be more active in this sector. With new mobile payment services launching, a growing number of consumers are likely to enter into the sector.

Apple is leading the mobile payments space

Apple is having the most dramatic impact on the mobile payments space. The company launched its Apple Pay service last year, which has become extremely popular among consumers and retailers alike. Other companies have plans to launch their own payment services later this year, but will have to fight to catch up with Apple, as it has established a strong lead in the sector.

Best Buy to support Apple’s mobile payments service

| April 30, 2015

Apple Pay will be accepted at Best Buy stores later this year

Apple’s mobile payments service, Apple Pay, has won another retail ally. Best Buy has announced that it will be accepting payments made through Apple Pay later this year. This may be a major shift for the retailer, as it is part of the Merchant Customer Exchange, a consortium of retailers that have an interested in mobile commerce. The Merchant Customer Exchange has its own mobile payments service, called CurrentC, which its member companies are meant to use exclusively.

Retailer breaks ranks with the Merchant Customer Exchange and CurrentC

CurrentC first attracted attention when retailers disabled some payment terminals so that they would not accept payments being made through Apple Pay. Instead, the Merchant Customer Exchange opted to release its own platform, which retailers had believed to be a more consumer friendly mobile payments solution. The platform is designed for convenience and ease-of-use, leveraging QR codes as a way to complete transactions. CurrentC has had trouble finding a place in the evolving retailer space, however, which is forcing some companies to look for better solutions.

Best Buy will continue to support CurrentC

Mobile Payments - Best Buy Supports Apple PayThough Best Buy is showing support for Apple Pay, it will still support the Merchant Customer Exchange and CurrentC. The company is concerned with providing its customers with options when it comes to mobile payments. In the past, consumers have shown favor for having the ability to choose how they pay for products and how they do their shopping. Lacking options can create a poor retail experience for some consumers, especially if they are becoming more reliant on mobile devices.

Apple continues to seek out retail partners for its mobile payments service

Apple Pay has emerged as a prominent mobile payments service, but it has not yet found mainstream success. Many consumers prefer to use a variety of services, while others simply purchase products from e-commerce sites directly and not through applications. Apple Pay has been working to acquire more retail partners in order to gain traction with consumers, but has only managed to find moderate success.