Tag: europe

Mobile payments firm wins backing of Groupon and American Express

| June 4, 2013

SumUp wins funding to expand mobile payments services

A mobile payments startup based in Berlin, Germany, has received the financial backing of large companies like Groupon and American Express recently. SumUp is a relatively new startup company that currently operates in 11 European countries and has helped expand mobile payments throughout the region. Consumers have been growing more comfortable with the idea of mobile commerce and have been demanding new services that are more comprehensive and more convenient for their needs.

Company may be able to establish stronger foothold in Europe

SumUp has announced that it has raised several million dollars in funding from companies that are interested in its approach to mobile payments. The funding is expected to help SumUp expand the services it offers throughout Europe. While mobile commerce has managed to establish a strong foothold in Europe, it is still considered a young sector that faces significant challenges that can derail growth and progress. Appropriate levels of funding could help mobile payments overcome these challenges and find better traction throughout the world.

Mobile Payments - Support from Groupon and American ExpressLarge companies currently dominating mobile commerce field

SumUp is not the only mobile payments firm operating in Europe. Several larger companies, such as PayPal, have begun to muscle into the mobile commerce sector in the region, all looking to establish some rapport with consumers and make them more comfortable with the concept of making mobile payments. Whether SumUp will be able to compete with these larger companies is uncertain, but the firm may be able to beat out smaller competitors that exist in the market.

UK consumers show great deal of love for mobile payments

Thus far, consumers in the United Kingdom have been the most willing to embrace mobile commerce. The country already has a robust mobile payments infrastructure. Several companies in the UK have embraced mobile payments, creating a highly competitive environment that has been unaccommodating to smaller companies that are not backed by significant funding. Fortunately for SumUp, both Groupon and American Express have considerable faith in the company.

Mobile commerce finding traction in Italy

| June 2, 2013

Mobile commerce is growing in Europe

Commerce is changing around the world, driven partly by the growing proliferation of mobile technology. Mobile devices are enabling consumers to shop and make purchases in a new way. Initially, the concept of mobile commerce was relatively unpopular due to the perceived inconvenience of using smartphones and tablets to replace traditional forms of currency. Mobile commerce has proven, however, to be extremely popular among consumers. This much became evident during the 2012 holiday season, where mobile commerce found a great deal of traction with consumers in several parts of the world.

Report highlights the progress e-commerce is making in Italy

The Netcomm Observatory has published a new report concerning the growth mobile commerce has seen in Italy.  Mobile commerce activity has been relatively low in the country, but consumers are growing more acclimated to the prospect of using their mobile devices to purchase products. The report from Netcomm shows that e-commerce users reached a peak of 14 million during the Christmas holiday of 2012. Many of these consumers were involved in mobile commerce, purchasing and shopping for products from their smartphones and tablets.

Italy Mobile CommerceItaly’s commerce scene is beginning to change

The report notes that mobile commerce sales in Italy last year came in at approximately $9.6 billion, with most of these sales being made during the holiday season. The report also notes that mobile commerce and e-commerce have been showing promising progress this year. According to the report, e-commerce sales are estimated to be more than $11.3 billion so far this year. Many of these sales have also been made through mobile commerce platforms.

Europe continues to see a revolution in commerce

Mobile commerce is beginning to pick up momentum in Italy and has yet to show signs of slowing down. Netcomm expects that mobile commerce alone with account for more than $430 million in sales this year and this does not account for the sales made through tablet devices. This trend is not unique to Italy, of course, as mobile commerce is has been making strong progress throughout Europe.