Mobile commerce is showing signs of life
Mobile commerce in the Middle East is beginning to pick up momentum. The availability of smartphones and tablets is on the rise, giving consumers new ways to shop and purchase products over the Internet. E-commerce has held a relatively strong foothold throughout the region, but mobile commerce is beginning to show signs of aggressive growth, powered by the interests of young, tech-savvy consumers. Much of this growth is expected to be seen in Saudi Arabia, where mobile technology penetration is quite high.
PayPal report projects bright future for mobile commerce
PayPal has released a new report concerning mobile commerce in the Middle East. The report shows that mobile transactions currently represent 10% of all online purchases in the region. Mobile commerce is expected to represent 20% of all online sales in the Middle East by 2015. The report notes that shopping from a traditional PC remains dominant in the e-commerce sector, but this will not be the case in the near future as more consumers begin favoring their mobile devices for their shopping.
Mobile payments in Saudi Arabia are likely to grow
In Saudi Arabia, e-commerce is expected to reach $2.7 billion by the end of 2015. Mobile commerce in the country will account for approximately $700 million by that time. The report suggests that tablets will lead the rise of mobile commerce in Saudi Arabia. Many consumers appear to enjoy their shopping experience on tablet devices due to the larger screens and better control options of these devices. Tablets can make mobile commerce more attractive by providing consumers with a memorable and enjoyable shopping experience.
Experience may dictate growth of mobile commerce
Mobile commerce is also expected to make strong progress in Qatar as well, representing $400 million by the end of 2015. Smartphones are likely to become more popular than tablets in the mobile commerce space simply because they are more abundant. Ultimately, the growth of mobile commerce will be determined by consumer experience rather than what device is more readily available to them in the Middle East.
Middle East becoming more interested in mobile payments
Demands for mobile payments are rising in the Middle East. The Middle East is emerging as one of the most favorable markets for mobile commerce, especially when it comes to the United Arab Emirates and the affluent population of Dubai. Smartphones and tablets are becoming more common throughout the Middle East, exposing consumers to new ways to engage in the world around them. Mobile payments have begun establishing a strong foothold among a new generation of consumers with access to mobile devices.
Universal commerce may be coming in the future
First Data, a leading payment processing company, has coined the term “universal commerce.” This suggests that everyone will be able to participate in a new era of commerce through a singular platform that will be recognized by all retailers and businesses around the world. Such a platform does not have to come from a single company and does not have to be associated with one particular application. Instead, this platform is meant to provide a framework wherein consumers interested in mobile payments can use their smartphones and tablets to purchase products, or use more traditional forms of currency.
First Data finds that Middle East is enthusiastic about mobile payments
According to First Data, consumers in the Middle East are eager for a new way to participate in commerce and that the mobile space may offer the best solution. Research from a study conducted in 2011 by First Data shows that consumers throughout the Middle East are enthusiastic when it comes to online retail, showing strong signs of their support of mobile commerce. The research found that Middle Eastern consumers have a higher chance of participating in mobile payments than any other group in the world.
Mobile commerce finds strong support in Dubai
Mobile commerce has been growing in the Middle East, backed strongly by companies and organizations based in Dubai. The city boasts of one of the most financially active populations in the world, which has given many consumers in Dubai opportunity to engage in mobile commerce before the rest of the region. Those that have participated in the several mobile payments projects that have taken root in the city have praised the convenience and simplicity of mobile commerce.
