Tag: mobile commerce news

Mobile commerce firm finds impressive success in India

| April 3, 2014

Snapdeal may soon be able to outpace its competitor, Flipkart

Snapdeal, an online retailer based in India, has been seeing strong growth over the past several months. The company is on track to compete with Flipkart, which is another online retailer that is well known throughout India. Snapdeal has been able to find success among consumers due to its focus on mobile commerce. Many people throughout India are making use of their mobile devices to shop and purchase products that they are interested in.

Snapdeal reaches the $1 billion in sales milestone a year ahead of schedule

Snapdeal CEO and founder Kunal Bahl has announced that the company has reached more than $1 billion in sales a full year ahead of its target. Initially, Snapdeal had expected to reach this milestone at some point in 2015. Competitor Flipkart has recently reaches a similar milestone, but Snapdeal is expected to outpace its competitor in terms of capital this year. Bahl suggests that Snapdeal is one of the fastest growing and most capital efficient companies in India’s mobile commerce sector.

Indian consumers show their favor for mobile commerce as smartphones become more available

Mobile Commerce - Success in IndiaConsumers throughout India are finding it more convenient to shop from their mobile devices than it is to visit a physical store. Many of these consumers typically commute to their work and home, making visiting a physical store somewhat difficult. As smartphones become more available, more people are using these devices to engage in various mobile-centric activities, including shopping. Companies like Snapdeal and Flipkart are poised to take advantage of the growing interest that consumers have when it comes to mobile commerce.

Snapdeal focuses on efficiency and convenience, much to the joy of consumers

Snapdeal was established in 2010 and has managed to grow by 500% over the past year. The company’s growth is being attributed to allowing retailers to offer their products to consumers directly. This means that Snapdeal holds no inventory itself, unlike its competitor Flipkart. Snapdeal has also adopted a focus on efficiency and convenience, two things that Indian consumers have shown a great deal of support for.

Mobile commerce security may be a losing battle

| March 26, 2014

Security is beginning to attract more attention, but threats inspire little action

As mobile commerce becomes more prolific, security is becoming a much more serious issue. Hackers have begun to focus on the mobile field more diligently because of the lack of security solutions that exist therein. Malicious groups have turned much of their attention to the commerce space because of the trafficking of financial information. Due to lackluster security, many consumers are finding themselves exposed to the risk of having their financial information exploited by malicious parties.

Malicious devices are becoming more common

The number of malicious devices in the physical world is growing at a rapid pace. These devices include those that are designed to mimic or exploit cash registers, credit card readers, and other such hardware. Even gas pumps are being equipped with devices that are meant to steal information from credit cards. These devices are also becoming more mobile-centric as a growing number of people begin to pay for products and services with their smartphones rather than with their credit cards. While physical devices are quickly becoming a problematic issue, malware is being considered much more dangerous.

Malware is growing at a rapid pace

Mobile Commerce SecurityAccording to security firm MacAfee, malware targeting mobile devices is becoming more common at an alarming rate. The firm notes that the presence of malware targeting the Android platform specifically has tripled between 2012 and 2013, with an estimated 3.7 million malware applications having been identified at this time. Notably, much of this malware goes undeterred as it attacks consumers and retailers alike. This is largely due to the lack of focus that both people and businesses have when it comes to matters of mobile security.

Hackers are winning the fight on the security front

Hackers may be winning the security battle. Because retailers, and other types of businesses, are still somewhat new to the mobile field, they are not necessarily attuned to the security issues that exist within the mobile commerce space. As these businesses continue to embrace new security solutions, they are finding that hackers have already developed malware that can bypass these solutions.