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European mobile payments firm is coming to the US

JT | September 4, 2015

Klarna announces partnership with Overstock.com

Klarna, a mobile payments firm based in Sweden, has made its first U.S. deal by partnering with Overstock.com, an acclaimed online retailer operating in the country. This partnership brings more competition into the mobile commerce space and places Klarna in conflict with PayPal and other companies that have worked to establish a foothold within the growing market. The partnership will also allow Overstock.com to better engage mobile consumers as well, providing the company with a way to support those shopping with their smartphones and tablets.

Firm continues to see success in providing a convenient way to purchase products online

Klarna has helped retailers embrace the mobile payments space for several years. The firm allows retailers to take advantage of convenient payment systems that only require an email and shipping address. Shoppers will then receive an email regarding the transaction they wish to make. In cases where shoppers have a high credit score, they are able to pay for a product when it is shipped rather than during the initial checkout process. In this way, Klarna actually pays the merchant for the product being purchases, with consumers then paying Klarna.

Klarna generates $300 million in revenue last year

European Mobile Payment Firm heads to USA Launched in 2005, Klarna now accounts for more than 52 million users. It is currently used to power mobile payments for some 55,000 online retailers operating in Europe. The firm is also backed by a banking license in Europe due to it providing some consumers with credit when shopping online. Last year, Klarna reported $300 million in revenue. Approximately 10% of all e-commerce transactions made in Europe are made through the use of Klarna.

More competition in the mobile payments space will give consumers better options

As mobile payments continue to grow in the U.S., the country is becoming a more attractive market for those that have already established a presence in other countries. Klarna sees some promise in the mobile commerce space and intends to establish a foothold in the U.S. Klarna may succeed in bringing more competition to the mobile payments space, forcing other companies to offer better services.

New mobile commerce service may be coming to Hong Kong

Denny | September 2, 2015

SmarTone plans to launch a new service later this year

SmarTone Telecommunications, a mobile network operator in Hong Kong, has plans to play a larger role in the mobile commerce space. The company is expected to launch a new service called “Kiss” later this year, which will allow consumers to use their mobile devices to pay for goods at physical stores as well as online. SmarTone has been signing up retailers that will be using the service as a way to better engage mobile consumers.

Kiss could become a popular tool for retailers

Kiss has been in development for the past two years and the platform may be ready for launch in December. There may be licensing opportunities for Kiss as well, especially as more organizations become interested in mobile commerce in an attempt to cater to consumers with smartphones and tablets. Merchants using the service will be charged a monthly fee and they will be able to use the Kiss platform to establish mobile storefronts that make it easier for consumers to shop with their smartphones.

Retailers are looking for ways to engage mobile consumers

Mobile Commerce - Hong Kong There is a great deal of competition in the mobile commerce market. Retailers have been looking for new ways to engage consumers that are becoming heavily reliant on their smartphones. These consumers are using their devices to shop online for products that they are interested in. Mobile shopping is particularly popular among those with long commutes, as it enables them to get their shopping done without having to visit physical stores.

Retailers are showing more interest in getting involved in mobile commerce

Engaging mobile consumers is becoming an important priority for retailers. In the past, retailers had little interest in the mobile space, as they had relatively low knowledge of mobile commerce. Now, however, retailers are turning to companies like SmarTone in order to connect with consumers in a more dynamic way. Mobile network operators are beginning to play a bigger role in the mobile commerce space as well, as they have begun to see promising opportunities to provide valuable services to consumers and businesses alike.