Tag: mobile commerce news

Chase to launch its own mobile payments services in 2016

| November 2, 2015

JP Morgan Chase sees major promise in the mobile commerce market

JP Morgan Chase is preparing to launch its first mobile payments service, called Chase Pay. The company expects that the service will be launched in the middle of 2016, competing with other companies that have already released their own payment services. JP Morgan Chase sees significant promise in the mobile payments space, as many consumers are beginning to use their smartphones to shop for products both online and in physical stores.

Chase Pay aims to make it easier for consumers to shop for and purchase products that they may be interested in

Chase Pay will allow consumers to pay for goods and services in physical stores as well as within mobile applications. Retailers are expected to support the mobile payments service, allowing customers to pay for products through their mobile websites. The service will be available to approximately 94 million Chase customers. Notably, Chase has partnered with Merchant Customer Exchange, which has also been working on its own mobile payments platform that is designed specifically for large retailers.

Large retailers are looking for ways to engage mobile shoppers

Mobile Payments - JP Morgan ChaseThe Merchant Customer Exchange’s CurrentC platform is meant to provide large retailers with a way to effectively engage mobile consumers. The organization itself is comprised of large retailers, such as Walmart, Target, and Best Buy. These retailers have all agreed to use the CurrentC platform, but the service has yet to see a commercial release. As such, retailers are looking for ways to embrace mobile payments in order to better serve consumers that are interested in shopping with their smartphones and tablets.

Chase Pay may be able to compete with other services if it manages to provide better security

Chase Pay will face significant competition from services that have already established a foothold in the mobile commerce space. Whether or not the service will prove popular among consumers may depend on the security features it offers. Security has been a significant problem for the mobile commerce space for some time, with many consumers citing recent data breaches as the reason they will not use mobile payments services.

Mobile commerce is becoming a force to be reckoned with

| October 30, 2015

Retailers cannot ignore mobile commerce any longer, as more consumers use their devices to shop online

Mobile commerce has become a powerful force throughout the world and may now be something that retailers can no longer ignore. Retail e-commerce has been on the rise for some time, and more consumers are beginning to use their mobile devices to shop online and purchase products. Numerous merchants have reported a significant rise in their mobile traffic over recent years, with spikes in this traffic occurring between November and December, as consumers do their holiday shopping.

Many consumers are expected to use their mobile devices to shop for products during the holiday season

According to a recent report from eMarketer, retail e-commerce is expected to see a surge during this year’s holiday season. The report estimates that online sales will reach $79.4 billion this year, an increase of more than 13% from what was recorded in 2014’s holiday season. Mobile commerce is expected to play a role in this growth in sales, as more consumers will be using their smartphones and tablets to make purchases. These devices also allow shoppers to avoid large crowds, which would otherwise slow their shopping experience.

Mobile commerce sales are expected to spike by 32% over what they were last year

Mobile Commerce - Holiday ShoppingThis year, eMarketer expects that mobile commerce sales will jump by 32%. Mobile devices now have larger screens, which improve the shopping experience. The convenience of mobile commerce has also proven to be an attractive concept for many consumers. Mobile shoppers are expected to use their devices to research products and find special deals, which can help them save money on their holiday purchases.

Consumers prefer to use mobile apps over web browsers when shopping from a mobile device

Consumers are becoming more accustomed to mobile commerce as a whole. A recent survey from PayPal found that 47% of those that have used their mobile devices to shop online prefer doing so in applications rather than through a web browser. Apps appear to streamline the mobile shopping experience, making it easier for consumers to find and purchase products that they may be interested in.