Tag: m-commerce

Mobile commerce is changing consumer behavior

New report from comScore highlights a shift in consumer behavior, linked to mobile shopping

People are beginning to change their shopping habits due to new mobile services that are becoming available to them. A new report has been released by comScore that highlights this shift in consumer behavior. Traditionally, desktop and laptop computers have dominated the e-commerce space. This has begun to change as mobile technology begins to play a more important role in society. Consumers are becoming more mobile-centric and they are beginning to demand services that cater to their interests.

Mobile searchers are more likely to lead to actual purchases

The report shows that approximately 61% of searches on laptop and desktop computers resulted in a local purchase, while 78% of searchers on smartphones resulted in such purchases. Consumers appear to be more active in searching for products on mobile devices than on stationary computers. Mobile searchers are more likely to power sales, which is why more businesses are beginning to take steps to engage mobile consumers more aggressively.

Consumers are more likely to use mobile websites than applications when shopping online

mobile commerce - consumer evolutionThe report shows that approximately 7 in 10 consumers prefer mobile websites over applications when they are shopping online from their smartphones or tablets. Notably, mobile websites are more favorable among tablet users. This has to do with a tablet’s larger screen, which makes navigating a mobile website easier and more enjoyable for a consumer.

Electronic coupons are successful in promoting mobile commerce among consumers

The report also notes that 75% of mobile consumers make use of electronic coupons when t hey are shopping online. These coupons are issued by retailers as an incentive for mobile shopping. Sometimes, these coupons are part of loyalty programs that are specifically designed with mobile commerce in mind. Electronic coupons have proven that they are quite effective at encouraging mobile shopping, helping retailers find more success in the mobile commerce field. Notably, the majority of mobile transactions are made during the holiday season, where consumers use their smartphones and tablets to avoid long lines at retail stores.

Visa aims to bring more security to mobile commerce

Visa announces the launch of its new Token Service

Visa has announced that it has launched its Token Service. The service is meant to drive innovation in the mobile commerce field while also introducing more security to digital payments. The service replaces valuable financial information with digital tokens, which have the ability to authenticate mobile transactions. Security is one of the most significant challenges facing the mobile commerce space currently and Visa has been taking steps to address this issue in recent years.

Storing financial information on a mobile device can be risky

When it comes to mobile payments, a consumer’s financial information is often stored on a mobile device. This information can be stored on a digital wallet platform or a payment service. The problem with this is that this information can be accessed whenever such a platform is exploited. Malicious groups often target mobile commerce services in order to obtain such information. Visa’s Token Service may resolve this issue by removing the need to store financial information on a mobile device completely.

Token Service removes the need to store financial information

Mobile Security - VisaThe Token Service is designed to replace a consumer’s financial information with digital tokens. These tokens do not contain a consumer’s information, but can still be used to facilitate a mobile payment. The tokens can be stored by merchants and not just consumers as well. This means that consumers can shop at their favorite online stores and make purchases from their mobile devices without having to input any valuable financial information.

New service is meant to bring more convenience and security to the mobile commerce field

Visa’s Token Service will only be available in the U.S. until early 2015. Next year, Visa plans to introduce the service to several other countries where mobile and e-commerce are thriving. The service is designed to further improve the attractiveness of mobile shopping and payments by highlighting security and convenience. Mobile commerce has thrived due to its convenient nature, but there are relatively few security solutions that have made consumers comfortable with paying for products from their mobile devices.