Crowd Mobile announces its acquisition of Track Holdings
Crowd Mobile, a company operating within the mobile space, has announced the successful acquisition of Track Holdings, a leading mobile payments specialist based in the Netherlands. Through the acquisition, Crowd Mobile seeks to accelerate product launches and improve its promotional campaigns in markets throughout Europe. Crowd Mobile have been involved in the mobile payments space for some time and has been working with several companies in order to establish a stronger position in the mobile space as a whole.
Mobile commerce continues to expand throughout the European market
Europe has become a major mobile commerce market, with many consumers relying more heavily on their mobile devices to shop online for products and services. Retailers throughout Europe have begun to rely on the mobile space in order to effectively engage consumers and some are even beginning to support mobile payments in their physical stores. Over the coming years, mobile payments are expected to become much more prolific throughout Europe, especially in countries where smartphone penetration is high.
Track Holdings has managed to find success in the mobile payments sector
Track Holdings has proven to be a profitable mobile commerce business, which may be a boon for Crowd Mobile. The fact that Track’s mobile commerce platform is profitable, it may be able to provide Crowd Mobile with strong revenue growth. It may also allow Crowd Mobile to better engage a wider range of consumers, many of whom have been looking for access to a mobile payments platforms that suit their interests and needs.
Acquisitions continues to become more common in the mobile payments space
Mobile payments continue to expand throughout the world and acquisitions are becoming more common within this sector. Several companies are looking to acquire those that have shown that their mobile commerce platforms are successful. Such acquisitions are expected to lead to vast improvements in the mobile payments space. Large organizations competing with one another is expected to bring about the use of new technology that makes mobile commerce more secure as well.
Apple Pay may provide more momentum to the European payments sector
Mobile payments are likely to gain momentum with the inevitable expansion of Apple Pay. Though Apple has not yet brought its new mobile payments service to markets outside of the United States, the early success of the service makes it likely that expansion is in the future. Europe is one of the most attractive mobile markets in the world, with high smartphone penetration and an expansive mobile Internet infrastructure. Consumers in many European countries are using their devices to purchase products.
Report suggests that companies are taking steps to prepare for Apple Pay
In preparation for Apple Pay’s potential expansion to Europe, many companies are beginning to improve their own mobile services. A new report from IHS Technology notes that these companies are becoming more mobile-centric, hoping to position themselves so they can benefit from the launch of Apple Pay and other mobile payments services. Visa is one such company, which is expanding tokenization throughout Europe. This involves the use of digital tokens to replace financial information, making mobile transactions significantly more secure.
European consumers may show favor for Apple Pay
Apple has the potential to cause some disruption in Europe’s mobile market. There are several mobile payments solutions available to consumers throughout Europe, but Apple Pay has managed to generate a great deal of hype before even launching in this region. If the service does come to Europe, consumers are likely to abandon the mobile payments solutions they currently use in order to use Apple Pay, at least for a time. Retailers may also opt to use Apple Pay as a way to support mobile transactions.
Apple will face competition in the mobile payments space
Competition is likely to be fierce for Apple and the company is not likely to dominate the mobile payments field without a fight. Samsung recently announced that it will be launching its own mobile payments service in the near future, which will appeal to those with Android devices. Apple’s service is only available for iOS devices, and of those only the iPhone 6 and iPhone 6 Plus can make use of the service at this time.
