Tag: india

Barlcays links India and the UK through mobile payments

Barclays launches Pingit service in India to take advantage of the remittance market

Prestigious British creditor Barclays is launching a new mobile payment service between the United Kingdom and India. The financial organization sees promise in the mobile commerce space and has found some degree of success with its mobile payment services in the UK recently. India is currently the largest remittance market for the United Kingdom, with some $3 billion in payment volume reported in 2013. Barclays is working to make its Pingit service available in India in order to take advantage of the activity in the remittance market.

UK consumers show favor for the Pingit service and its ability to facilitate mobile payments

Pingit has been available in the UK for some time. The service allows consumers to spend money in a quick and efficient way using their smartphones. The service will have a similar function in India, and those using the service will be able to use nothing more than their phone numbers to transfer funds between the two countries. The benefit of the service is that neither those sending or receiving funds need to be a Barclays customer.

Mobile commerce continues to gain ground in India and the United Kingdom

Mobile Payments - BarclaysMobile commerce is becoming a powerful force in both the UK and India. Smartphone penetration in both countries is on the rise and more consumers are looking to take advantage of new services that cater specifically to a mobile audience. The demand for mobile payments services is on the rise and large companies like Barclays are looking to accommodate this demand.

Maximum payment that can be processed through the Pingit service is $2,000

According to Barclays, the minimum transaction that can be made for its Pingit service is $30. The maximum transaction is nearly $2,000. Mobile payments made through the service can take as long as 48 hours to process. After the payment is processed, those receiving funds will be able to use their money in any way they see fit. Pingit is currently one of the most popular mobile commerce services in the United Kingdom.

China is a hotbed for mobile commerce activity

Survey highlights the growth of mobile shopping in China and elsewhere

MasterCard has released the results of a new survey concerning mobile commerce in China. Consumers throughout China have been growing more interested in shopping from their mobile devices and are beginning to use their smartphones and tablets to purchase products more often. Many consumers consider mobile shopping to be very convenient and ideal for their current circumstances. This is especially true among people that commute often as mobile commerce allows them to purchase products from wherever they are and have these products delivered to their homes.

Nearly 100% of Chinese respondents have made a mobile purchase in the past three months

According to the survey from MasterCard, mobile commerce has been growing quickly throughout the Asian-Pacific region. Thailand, South Korea, and India boast of impressive results when it comes to the number of people participating in mobile shopping and payments. The survey shows, however, that nearly 100% of the respondents in China have said that they have made at least one online purchase from a mobile device in t he past three months. Approximately 59% of these consumers noted that they made a purchase with a smartphone.

Retailers help power the growth of mobile shopping

Mobile Commerce Activity - ChinaThe survey attributes the growth of mobile shopping in China to the efforts that several retailers have made to engage mobile consumers. Alibaba and Tencent, for example, have launched aggressive campaigns to attract the attention of these consumers. Using their Alipay and WeChat applications, these companies have managed to establish a dominant position in the mobile field. Smaller retailers have also been working to accommodate the needs of mobile consumers by embracing mobile payments more readily.

China is likely to retain its lead as a prominent mobile commerce market

China is expected to be a leading mobile commerce market well into the future, followed closely by Thailand and South Korea. As smartphone penetration continues to rise throughout the Asian-Pacific region, the number of people shopping online from their mobile devices is expected to continue growing. Tablets are also beginning to establish a reputation among consumers in this region as one of the best mobile shopping platforms currently available.