Google Wallet growing as security issues get resolved
Google is quickly establishing itself as a leader in mobile commerce. Last year, the famed technology company launched the Google Wallet, a mobile payment platform that allows consumers to make purchases using an NFC-enabled smart phone. The platform had a turbulent launch, receiving criticism for its lackluster security features and accessibility, but Google has worked to resolve these issues quickly. Now, the company claims that mobile payments being made with Google Wallet are on the rise and are growing faster than had been accepted.
Mobile payments double in six week period
According to Google, mobile transactions made with Google Wallet have doubled in the six weeks that have passed since the launch of a new cloud-based version of the platform that was introduced on August 1. This version of Google Wallet was designed to address the various security concerns that consumers had with the original platform. Because the platform is now connected to a cloud computing network, the financial information that is used to be stored on a smart phone itself is now stored in a secure digital network. Thus, this information cannot be as easily stolen or exploited.
Slow and steady may win the race
Despite the rapid growth Google Wallet has experienced over the past month or so, Google notes that mobile payments are not going to be an overnight success. The company is gearing up for the long haul, especially as more competitors emerge in the growing mobile commerce field. Google notes that there is still a great deal of work left to do in getting consumers comfortable with NFC technology. Osama Bedier, vice president of Google Wallet and the company’s mobile payments, claims that this is a three-to-five-year effort and that consumers still have a lot of concerns regarding NFC technology and its safety.
Google to clash with Isis
Google’s largest competitor to date, Isis, is expected to launch in a matter of days. The Isis platform boasts of some impressive security features and has managed to garner the backing of most of the world’s major financial institutions. Google Wallet is still struggling to find this support, but has proven rampantly popular with consumers. Isis has proven favorable with businesses, but has yet to enthrall consumers.
Global augmented reality market forecasts from Mind Commerce
Mind Commerce, a leading market research and consultancy firm, has released a new report concerning the global augmented reality market. The report, titled “Augmented Reality: Global Market Analysis and Forecast 2012-2017,” highlights the various trends that exist in the global market and provides some insight on why augmented reality may be growing so popular. Mind Commerce suggests that one of the reasons augmented reality is becoming so popular is because of the large number of smart phones and high-tech mobile devices currently available.
Report ties growth of global augmented reality market to rise of smart phones
According to the report, Mind Commerce suggests that augmented reality is currently a niche market opportunity. The technology is capable of presenting consumers with a wide array of digital content and entertainment. Because the entertaining aspects of augmented reality are so prolific, the technology has seen limited practical use, thus is less appealing than other interactive technologies that can provide practical services. This is likely to change, however, as companies like Google, Samsung, and Qualcomm begin finding new ways to make use of augmented reality.
Growth may be powered by government interests and cloud computing technology
The report predicts that the global augmented reality market will see exceptional growth over the next several years. Developers of augmented reality applications are expected to benefit greatly from the growth the market experiences, especially as the world’s governments begin showing more interest in the technology. Cloud computing is also expected to contribute to the growth of the augmented reality market, enabling more robust services to become available to consumers.
Mind Commerce offers glimpse at trends directing global augmented reality market
Mobile technology is evolving at a rapid pace. Demand amongst consumers for new, highly powerful mobile devices is rising. As technology becomes more advanced, the possible uses of augmented reality continue to expand. The report from Mind Commerce aims to forecast the advances made in the augmented reality field over the next few years, providing those interested in the report with some insight on the trends that are affecting the market.
