Tag: mobile commerce news

Moneris launches new mobile payments service

Moneris Solutions, a Canadian payment processor, has launched a new mobile payments service called “Payd Pro.” The new service is designed to be used alongside debit cards, allowing the financial information associated with these cards to be used by a mobile device. The mobile payments service is meant to make commerce more convenient for consumers that are constantly on the go and could be ideal for commuters that have little time to shop at physical stores.

Payd Pro utilizes Bluetooth technology

Unlike other mobile payments services, Payd Pro is not based on NFC technology. This is because NFC-enabled mobile devices are still quite rare among consumers and NFC has begun to attract a significant amount of criticism regarding its security. Instead, Payd Pro utilizes Bluetooth technology in order to make it more accessible to both iOS and Android devices. The Payd Pro application offers a variety of mobile commerce management tools that have been developed by Moneris. These tools have been quite well received by small businesses in Canada that have used them in the past.

Service encrypts card data at transaction

Payd Pro encrypts the card data that it uses at the time of transaction. This is meant to provide security for the financial information that is being used to conduct mobile payments. Security has become a major issue when it comes to the world of mobile commerce due to the malicious parties that have been attracted to this rapidly growing sector. Hackers have shown interest in mobile commerce because of the relatively low-level security systems that many platforms are equipped with.

Consumers and businesses showing increasing interest in mobile payments

Canadian consumers have been growing more interested in mobile payments in recent years, largely due to the growing levels of smartphone and tablet ownership. As more people are exposed to the concept of mobile commerce, the more they are demanding mobile payments services that are both secure and easy to use. Moneris has been able to meet this demand to some degree with its variety of mobile commerce services offered to consumers and businesses alike.

This acquisition, which was for a reported $260 million, is an effort to expand in the Asian market.

Groupon has just announced its acquisition of Ticket Monster, along with its Q3 results for 2013, as a part of the reveal for its latest strategy for mobile commerce growth, particularly within the Asian marketplace.

They have purchased the company with its specialty in both local and travel offers in this region.

The purchase was for $260 million in both cash and stock. This helps Groupon to obtain a more solid mobile commerce foothold on the local and travel market in the Asian region. The Korea based online company also specializes in product offers. Ticket Monster was first launched in 2010 and its deal with Groupon is expected to close in the first half of next year.

At the moment, Ticket Monster Is owned by LivingSocial, but this mobile commerce deal will change that.

Ticket Monster has experienced year on year billings growth that has been steady and consistent, as its annual figures have come in at $800 million. It was the mobile commerce success, however, that caught the eye of Groupon and that drew it for purchase. The reason is that more than half of the Asian company’s purchases originate from smartphones or tablets. The company currently boasts over 1,000 employees and has over 4 million active customers.

This mobile commerce deal has arrived just as the Q3 financial data was released by Groupon. Its daily deals service during the period that ended on September 30 raked in a record nine million downloads of its app, bringing its overall total to 60 million. This has also helped to contribute to the fact that over half of the sales made in North America are completed by way of smartphones and tablets.

Moreover, mobile commerce at Groupon makes up 40 percent of its total global processed sales. Its active consumers showed a year over year rise by 10 percent, reaching 43.5 million, total. Clearly, this channel has become exceptionally important to the company and it is aiming at progressing in that direction with this latest acquisition.