Tag: mobile commerce news

Mobile commerce is making major progress in Europe

| August 4, 2014

Report shows that Europe has become a hotbed for mobile payment and shopping activity

Idealo, a price comparison service based in Germany, has released a new report that highlights mobile commerce in Europe. The report has compiled information from 50 of Idealo’s partners across 6 European countries. The information involves mobile site traffic, the design of mobile shopping sites and applications, and the use of mobile commerce applications. The report shows that the United Kingdom, in particular, is seeing a great deal of activity when it comes to mobile shopping and payments.

United Kingdom leads the way in mobile shopping, with many retailers offering mobile-centric services and support

The report suggests that consumers in the United Kingdom have the greatest advantage when it comes to mobile commerce. Some 86% of shops in the country support mobile payments in some way, either physically or digitally. Many of these stores have websites that are optimized for mobile use and offer mobile applications that offer rewards to those that use them regularly. As such, the United Kingdom is leading the way in mobile commerce activity.

Other European countries fall behind due to the slow adoption of mobile commerce among retailers

Mobile commerce growth in EuropeFrance and Spain are also seeing a great deal of activity in their mobile space. Approximately 74% of the retailers in both countries are supporting mobile shopping. In other European countries, such as Germany, Italy, and Poland, mobile shopping is not yet fully supported. Some retailers have been slow to embrace the concept of mobile commerce because of concerns regarding security or the belief that mobile shopping is nothing more than a novelty that will loss popularity in time.

Despite progress, the mobile shopping space is still faced with many challenges that could be difficult to overcome

While mobile commerce is making progress in Europe, there are still many challenges to overcome. One of the most significant challenges has to do with how mobile websites are built. These websites are vital to engaging mobile consumers, but few retailers are designing responsive sites that provide consumers with a favorable experience. A poor experience can drive people away from mobile commerce.

Mobile payments firm wins funding from Visa

| August 1, 2014

LoopPay has acquired funding from Visa for its ambitious and innovative technology

LoopPay, a mobile payments firm based in the U.S., has announced that it has won funding from Visa. The exact amount of funding that has been provided by Visa has not yet been revealed, but the funding is expected to be used to help LoopPay launch its new technology later this year. The firm’s Magnetic Secure Transmission (MST) technology may add yet another layer of security to mobile commerce while further bolstering the mobile payment infrastructure.

LoopPay technology makes use of magnetic trips rather than NFC chips

The technology leverages the magnetic strips that can be found on payment cards in order to process mobile payments. LoopPay has opted not to make use of NFC technology, despite its popularity in the mobile commerce sector. The new technology means that existing point-of-sale systems can be made more mobile-friendly, as most are fashioned to make use of payment card information. Reducing the technological boundaries that separate mobile commerce and traditional commerce could help consumers become more active in the mobile shopping field.

Firm’s services can be used by iOS devices

Mobile payments funding from Visa LoopPay provides a mobile application and case for iOS devices. The case is able to store and reach financial information, allowing iOS users to participate in mobile commerce relatively easily. The MST technology from LoopPay encrypts the financial information being transmitted to a point-of-sale system and this information is only available for a short amount of time before it is no longer readable.

LoopPay may have found a way to get people involved in mobile commerce without forcing them to embrace new and unfamiliar technologies

Mobile commerce has become a competitive field in many parts of the world. In the U.S., many mobile payment firms are introducing services that make use of new technology that is designed to disrupt traditional commerce. This can be difficult for consumers to embrace, however, as they have been comfortable with traditional commerce for years. LoopPay may have found a way to encourage people to participate in mobile commerce without having to embrace new and unfamiliar technology.