Tag: japan

Mobile payments to reach $3 trillion in the next five years

| December 10, 2014

New report predicts the global growth of mobile commerce and payments volume

Market research firm yStats has released a new report that predicts that mobile payments will continue to boom globally. A growing number of consumers are becoming more prone to shopping online and using their mobile devices to pay for products they are interested in. These consumers are also using their mobile devices to pay for products in physical stores. As this becomes more common, the mobile commerce market is expected to reach new heights in terms of payment volume.

Mobile payments will outpace online payments in terms of growth

The report predicts that online payments will exceed $3 trillion within the next five years, with the mobile space driving growth. Mobile payments are expected to outpace online payments in terms of growth over that period of time. New mobile commerce platforms being supported by retailers are making it easier for consumers to pay for products in physical stores. Some of these platforms have managed to find a great deal of success among consumers and the demand for new, mobile-centric services offered by retailers is growing.

Mobile commerce proves to be an attractive concept to many companies

mobile payments to growThe mobile commerce market shows so much promise that companies that had not been involved in commerce are beginning to show interest therein. Snapchat is one of the latest organizations to break into the mobile payments field. The company recently unveiled its new Snapcash service, which allows users of the Snapchat application to send money to one another. Apple also recently entered into the mobile payments space with its own platform, called Apple Pay.

Asia-Pacific region may be the leading market in the mobile commerce field

The Asia-Pacific region is expected to be the leading market wherein mobile commerce thrives. The report from yStats notes that online payment users in China has reached 300 million, with mobile payment users reaching 200 million. In Japan, mobile commerce has been quite common for several years now, but new services are making it possible for consumers to purchase products in stores with nothing more than their mobile devices.

Apple may fall behind in Japanese mobile payments

| September 16, 2014

Apple could have trouble engaging consumers in the Japanese market

Apple is having trouble finding traction in the Japanese mobile payments space. The country served as the launch for a pilot project from the company. The project focused on mobile payments, using the iTunes platform as a way to make purchases. Recently, Apple unveiled its new iPhone 6, which will be the company’s first official foray into the field of mobile commerce. In Japan, the device was received with relatively modest interest.

Mobile commerce has been around for more than a decade in Japan

Mobile payments have been around in Japan for more than a decade. The country is often considered to be the birthplace of mobile commerce, largely due to the high adoption of smartphones and other mobile devices among Japanese consumers. As mobile devices became more common, Japanese consumers began to demand new mobile-centric services. As such, businesses began embracing the mobile space and accepting payments that were made from these devices.

Consumers have a great deal of experience with NFC-enabled mobile devices

apple - mobile paymentsMany mobile devices in Japan are equipped with an NFC chip called Felica. This chip was first introduced to the market in 2004 and now has a home in nearly every mobile device sold in the country. The iPhone had been one of the very few devices sold in Japan that did not have a Felica chip installed in it. This will change when the iPhone 6 hits the market, but whether or not it will be able to compete with other, more well established mobile payments platforms is uncertain.

Japanese consumers show modest interest in the iPhone 6 and its capabilities

Japanese consumers have had years to get comfortable with mobile commerce. They have come to expect many things from the mobile platforms that they use on a daily basis and platforms that do not meet these expectations do not last long in the market. Apple has limited experience when it comes to mobile commerce, and this has placed the company in a precarious position when it comes to engaging Japanese consumers.