Tag: e-commerce

Mobile commerce may get faster and easier with new Visa Checkout update

Online shoppers may find it much more convenient to employ their devices for making digital payments.

Visa has now stepped forward in ensuring that its digital Checkout for payments through electronic and mobile commerce will be more friendly to customers using smartphones and tablets as it will allow purchases to be completed by simply sliding a virtual image of their plastic credit cards across their device screens.

This has been done in the hopes that it will provide better competition with its rivals in this market.

The Visa Checkout digital payments service was first launched in 2014 and is meant to take on PayPal within the e- and mobile commerce space. Retailers offer this option with an embedded button on their apps and sites, making it possible for purchase payments to be made without ever having to navigate away from their current location. The original format of the service meant that users would need to enter a username and password on the screen in order to complete a mobile payment transaction. However, the newest feature has eliminated that step and has further streamlined the entire process.

To complete a mobile commerce checkout, users swipe and image of their card to the right before entering a password.

Mobile Commerce - Visa UpdateAccording to Visa, pilot tests of the m-commerce payments service have shown that the swipe feature makes shoppers twice as likely to complete the checkout process instead of abandoning their carts.

At the first launch of this service, the button will be available only to merchants who are selling digital products and services or that have items that are purchased online so that a customer can pick it up at the nearest store location. That said, Visa has stated that it will be expanding its service within the next few months in order to make it possible for merchants to sell products that will be shipped to their customers.

The senior vice president of digital solutions at Visa, Sam Shrauger, discussed this new mobile commerce feature and said that “This new experience brings digital payments one step closer to the ease, trust and familiarity that consumers have long valued from Visa in the physical world.”

Amazon aims to establish a foothold in India’s mobile payments space through new acquisition

Amazon has successfully acquired Emvantage Payments

Amazon is looking to compete for the favor of India’s mobile shoppers and has announced the acquisition of Emvantage Payments. The company specializes in payments, allowing online merchants to accept credit and debit card transactions. The company also supports mobile payments, something that Amazon has become very interested in over the past few years. India is one of the world’s fastest growing mobile commerce markets and merchants throughout the world are looking to establish a strong foothold in the country.

Emvantage will continue to help merchants connect with mobile shoppers

Emvantage allows merchants to connect with consumers more easily. Amazon believes that its acquisition of Emvatage will allow the company to accelerate the development of new e-commerce services in India. Emvantage employees will be incorporated into Amazon’s payments team, which will develop products and solutions that are specific to the needs of Indian mobile shoppers. Demand among these shoppers for convenient and secure services has been growing, especially due to the advent of mobile commerce.

The e-commerce space is slated to see strong growth through 2020

amazon - India Mobile PaymentsAccording to Amazon, India will be the world’s largest market after the United States within the next 10 years. This represents trillions of dollars of opportunity for Amazon and other e-commerce companies. The e-commerce space is expected to reach $137 billion in revenue by 2020, considerably higher than the $11 billion in revenue that was reported in 2013. One of the factors that will influence this growth is the availability of mobile payment services, which will allow more consumers to shop online and in physical stores efficiently.

Amazon may face significant competition in the mobile sector

Amazon is working to compete with some of the largest e-commerce companies in India, which have begun to focus on the mobile sector. Mobile consumers have proven to be quite enthusiastic when it comes to online shopping and smartphone penetration is growing quickly throughout the country. As this trend continues, more consumers are likely to take advantage of mobile payments services that allow them to purchase products online.