Tag: mobile commerce industry

Mobile payments field is growing more competitive

Mobile commerce platforms are beginning to be held to a higher standard

Mobile commerce may be growing in popularity, but that also means that it is coming under more aggressive scrutiny. Consumers are becoming less inclined to accommodate mobile platforms that are inherently flawed and lack appropriate security and convenience features. As such, a growing number of mobile payment platforms that had sought success in the mobile field are beginning to suffer from the fact that many consumers are simply no longer willing to justify their use of faulty products.

Large platforms manage to overcome some of the more serious issues plaguing mobile commerce

Large mobile platforms like Isis and Google Wallet have managed to sidestep some scrutiny due to their strong backing from major companies and the fact that they have either avoided falling prey to serious flaws or fixed their flaws in early stages of their launch. Smaller platforms, however, are finding it difficult to establish traction with consumers. Some of the platforms come from retailers and other businesses that are eager to enter into the mobile commerce space. This eagerness has produced some lackluster mobile payments services that have not done well among consumers.

Report highlights ambitious platforms that solve real problems

Mobile Payments CompetitionPlatforms from small organizations are not doomed to fail, of course. A recent report from Kristina Yee of M4 Associates, highlights five platforms that could find success in the mobile space. Cardis is noted in the report as being capable of tackling the problem of microtransactions. Cardis aims to allow merchants to offer goods at a low price to consumers by reducing transaction fees. Bitpay is another service that aims to create a bridge between digital and physical currencies without attempting to make physical currencies obsolete.

Smaller organizations are feeling the need to resolve problematic issues

Small organizations are beginning to understand that they need to take steps to address real problems t hat exist in the mobile space rather than simply make mobile commerce more available. These organizations are beginning to focus on improving mobile commerce security and accessibility while also providing solutions that resolve some of the issues that exist in traditional commerce.

Mobile Commerce May Produce World’s Next Big Startup

The mobile commerce sector may yield the next multi-billion dollar startup.

These startups are somewhat rare, but tend to emerge in technology fields that are rife with competition yet have a great deal of consumer activity. There have been numerous mobile applications that have proven to be quite valuable over the years, and some of these apps are very simply in their offering of particular services and features. The mobile commerce space is currently filled with skilled developers and business professionals that are constantly producing innovative solutions.

Exactly what the next multi-billion dollar startup will be is difficult to say for certain. There are many factors that influence the mobile space and determine whether or not a startup will be successful. A startup can do everything in its power to comply with market trends and engage consumers successfully but still fail to find any traction in the mobile world. Startups that ignore market trends can sometimes find significant degrees of success as well. There is no decisive formula to follow when working to succeed in the mobile commerce world.

Mobile Commerce StartupBecause there is currently an extreme level of competition in the mobile commerce space, there is a great deal of potential for this sector to produce the next massively successful startup. Innovation thrives in competition and innovative startups are often rewarded with consumer attention. Large companies, like Facebook and Google, are often on the lookout for startups that are creating something new and engaging. These large companies tend to either invest in these startups or acquire them outright.

It could be years before a massively successful startup emerges in the mobile commerce world. Many startups are finding it difficult to overcome the security issues that are related to mobile payments. These organizations are also falling prey to other problems, including NFC technology failing to generate traction with some consumers and businesses, as well as growing tensions with larger organizations t hat are working to establish dominance in the mobile space.