Tag: mobile commerce news

Visa Europe and Telecom Italia partner for new mobile payments venture

Telecom Italia and Visa Europe have entered into a new strategic partnership in order to boost mobile payments throughout Italy. Both companies have shown a major interest in mobile commerce and have been working to break into this field for some time. Mobile commerce, however, is quite competitive and is filled with technology, telecommunications, and financial service firms that are all trying to grab the attention of consumers. It is for this reason that strategic partnerships are becoming more common in the mobile commerce sector.

Consumers show strong interest in mobile commerce

Italian consumers have been showing a strong interest in mobile payments. This is partly due to the convenience that mobile commerce represents. Shopping and purchasing products from a mobile device has become quite common among consumers that frequently travel and this trend has not gone unnoticed by Visa Europe and Telecom Italia. Both companies have, therefore, been working to develop new mobile payments services that will be available to an estimated 31 million people across Italy.

NFC-based service may not be popular with consumers

Visa Europe intends to reduce the use of physical currency at point of sale. The new service is meant to provide consumers with more security with their transactions. The service is, however, based on NFC technology, which means that only NFC-enabled mobile devices can take advantage of its features. This may be problematic, as NFC-enabled devices are still somewhat rare among European consumers. New NFC-enabled smartphones are expected to be launched in Italy in 2014, however, which may help resolve this issue.

Mobile payments expected to gain momentum from the holiday season

Mobile payments have been gaining more attention throughout Europe, especially as consumers look for more convenient ways to shop. With the holiday season fast approaching, it is expected that record numbers of people throughout Europe will be using their mobile devices to purchase products online and at physical stores.

This is a reflection of the increasing penetration of smartphones in the country, which is now at 60 percent.

As smartphone penetration in France is now estimated to have reached 60 percent, a rapidly growing number of people in the country are turning to mobile commerce as a part of their regular shopping activities.

This, according to a recent report from comScore, which indicated that since Q1, there are now 700,000 more smartphones.

With such as growing population of people who now have smartphones, it means that there is also a growing number of consumers who have the technology that they require to take part in mobile commerce. According to the comScore data, that is exactly what a tremendous number of French customers feel, as well. Merchants are reaching out to consumers over that channel, and those shoppers are often listening.

There are now 10 million consumers in France that use mobile commerce while in-store.

The comScore data indicated that while inside a retail store, many consumers are taking out their smartphones and are using mobile commerce behaviors to help them to make their decisions. For example, approximately 8.5 million people would phone or text a friend or family member in order to ask questions regarding a product that they are considering. Another 9.3 million people took pictures of items that they were thinking about and among them, 5.8 million sent them to family or friends.

Another 3.4 million consumers used barcodes to help them with their mobile commerce investigations, by using their devices to scan QR codes, for example, to learn more about a product or a brand.

It has been predicted that as the adoption of smartphones continues to expand, it could also reach the point that adoption of mobile commerce will move beyond that which is seen in other countries, such as the United States. This is because the daily routine of the average person in France includes a larger amount of shopping (such as for groceries) than the average American. Since the average person in the U.S. stocks up on food products only once every three weeks, there is a much lower opportunity for regular smartphone based shopping than in France, where the storage space isn’t available and groceries are purchased much more frequently.