Tag: mobile commerce news

Congress is looking into mobile payments security

| December 3, 2015

House Energy & Commerce Committee is looking into concerns regarding mobile payments security

Mobile payments will reach a new high this year in the United States, powering by the growing adoption of new payment services that allow consumers to shop online more conveniently. According to recent reports from CNET and Juniper Research, some two-thirds of adults in the country now own a smartphone, with approximately 36 million people expected to make a mobile transaction this year. This information was presented to a hearing of the House Energy & Commerce Committee, which has been expressing concerns regarding mobile payments fraud.

Security continues to be a significant problem in the mobile space

Security in the mobile payments field has been a point of concern for federal officials for some time. Many consumers have become the victims of fraud in the past, following high-profile data breaches that targeted some of the country’s largest retailers. The hearing found that while most mobile payments solutions are, indeed, quite secure, they do not have the same legal and legislative protections that more conventional payment solutions enjoy.

Committee will not yet be taking legislative action on mobile security

mobile payments and securityThe House Energy & Commerce Committee has noted that the hearing was a preliminary hearing concerning mobile payments security. The committee has not yet announced plans concerning what can be done to improve security. As such, there will be no legislative action taken on issues regarding security for the time being. The committee is seeking more information from stakeholders in the mobile payments space. This information could be used to improve the overall mobile payments space, ensuring that consumer information is well protected in the future.

Ensuring the security of consumer information remains a top priority in the mobile space

The mobile payments space is still relatively new. While many of the organizations participating in this space have extensive experience regarding commerce, they are finding the mobile space to be exposed to significant risks that they are still attempting to adapt to. More regulatory oversight may be needed to ensure consumer protection, but the federal government must collect more data before taking any significant legislative action on the matter.

Black Friday was a success for mobile commerce

| December 2, 2015

Mobile commerce grew significantly during the Black Friday weekend

Mobile commerce saw significant success during the Black Friday weekend. A new report from Custora, an online retail analytics company, has found that many e-commerce sites saw the majority of their purchases come from mobile devices. Consumers proven to be interested in mobile shopping this year, avoiding physical stores in order to take advantage of deals that online retailers are offering. Retailers that begun focusing on the mobile space have seen success in engaging consumers that shop using their mobile devices.

Majority of shoppers used their iOS devices to purchase products online

The report from Custora found that online retailers saw 80% of their purchases come from those with iOS devices. These consumers are using services like Apple Pay to purchase products with their smartphones. The report found that Black Friday revenue for retailers rose by 16.1% over what it was last year. Retailers have been successful in engaging mobile consumers, offering them a better shopping experience than they had last year. Many consumers had reported that the e-commerce checkout process was inconvenient on mobile devices, which lead many shoppers to abandon their purchases. Retailers seem to have resolved this issue.

Mobile shoppers spent more than $900 million during Black Friday, the majority of which came from iPhones

Mobile Commerce & E-CommerceSmartphones and tablets accounted for 36.1% of all e-commerce purchases this year, which is an increase from the 30.3% that was reported during Black Friday last year. A similar report from Adobe found that mobile consumers spent approximately $639 million during Thanksgiving Day and $905 million on Black Friday. Of this amount, some $302 million came from iPhones, with $180 million coming from Android devices.

Mobile commerce is expected to continue seeing strong growth in December

Mobile commerce is expected to find more success as the holiday season continues. In December, retailers are expected to offer a wide range of deals, some of which may be exclusive to mobile shoppers. The momentum that mobile commerce has generated during the holiday season is likely to extend into the early months of next year.