Tag: mobile commerce news

Mobile commerce heating up in the Asia-Pacific market

| February 6, 2013

Mobile commerce in asia pacificMobile commerce becomes a major focus of Asian retailers

Mobile commerce is gaining steam in the Asian Pacific market. The proliferation of smart phones, tablets, and wireless Internet is allowing consumers to move away from their PCs and traditional stores to participate in a new trend that has been emerging in industries all over the world. Euromonitor International, a leading market research and analysis firm, suggests that the growing adoption of mobile technology in the Asia-Pacific region is spurring retailers to delve more seriously into the field of mobile commerce.

Retailers adopting mobile commerce more quickly than those in the West

Retailers in the Asia-Pacific market have been provoked to aggressive action on the matter and have been adopting mobile commerce much more rapidly than those in other markets. Many of these retailers have begun developing mobile applications that allow consumers to shop more effectively from their smart phones and tablets. Euromonitor International expects that the aggressive adoption of mobile commerce among Asian retailers will only continue to pick up momentum in the coming months.

PayPal Singapore anticipates major growth in coming years

This analysis corresponds with that coming from PayPal Asia-Pacific, which suggests that consumers are becoming more apt to use their mobile devices to pay for products. Moreover, these consumers are more likely to spend large sums of money than those that do not participate in mobile commerce. According to PayPal, mobile payments in Singapore came in at $34 million in 2010 and more than $259 million in 2011. PayPal anticipates mobile commerce in Singapore alone will reach $2.4 billion by the end of 2015.

Groupon model proves popular with retailers

Mobile commerce has opened new possibilities for consumers throughout Asia. One of the business models that has become very popular with retailers embracing mobile commerce is allowing consumers to purchase products online and claim their purchase in person or have it otherwise mailed to them. This model was pioneered by Groupon Singapore, which is now being adopted by numerous retailers throughout the market due to its convenience.

Mobile banking on the rise in Australia

| February 5, 2013

Mobile Banking AustraliaMobile banking reaching new heights

Mobile banking is taking hold in Australia. The Market Intelligence Strategy Center, a financial services consultancy, has released new information concerning the state of mobile banking and mobile commerce within the country. More consumers are finding it easier to manage their finances through their mobile devices. This includes paying for products, managing investments, and accessing their bank accounts. These are all aspects of mobile commerce, a phenomenon that is growing in popularity around the world.

Analysis shows mobile banking reaches 6 million users

According to the Market Intelligence Strategy Center, mobile banking in Australia has exceeded 6 million users. The firm notes that it took nearly four years for Internet banking to reach the same milestone, but mobile banking has reached it in just over three. This data is based off of figures released by the Australian Communications and Media Authority, which notes that the adult population using smart phones is at 8.7 million strong throughout the country.

Banks begin embracing mobile consumers

The nation’s banks have been embracing mobile technology aggressively. Over the past year, nearly all Australian banks have made changes to their services in order to be more accommodating of mobile consumers. Many of these banks have seen the majority of their traffic come from Android devices, with iOS devices coming close behind. These banks have also found the mobile technology is a great way to sell products to consumers, as they enjoy a nearly constant connection with customers through a variety of mobile banking applications.

Focus on mobile may be good for banks

Mobile banking is expected to become more popular as mobile Internet speeds increase. 4G connections are becoming more common, but have yet to become universally available to all consumers. As Internet speeds increase, consumers are more likely to increase their reliance on the mobile devices they have come to love. This may be good news for Australia’s banks, as well as the country’s various mobile commerce initiatives that are working to attract the interest of mobile consumers.