Tag: mobile payment technology

ICICI Bank teams with Vodafone to bring mobile commerce to India

| November 22, 2012

 

ICICI Bank partners with Vodafone to introduce m-pesa

India’s ICICI Bamobile commerce partnershipnk, one of the largest financial institutions in the country, is gearing up to launch a new mobile commerce service for consumers. The bank has teamed with Vodafone, a British multinational telecommunications company, in order to develop the platform and its associated application, called “m-pesa.” The mobile commerce initiation will be managed by Mobile Commerce Solutions, a wholly owned subsidiary of Vodafone, which will provide services to India’s growing mobile consumer population.

Indian consumers demand mobile commerce solutions

Mobile technology is becoming more common throughout India. As the country economy becomes more robust, consumers are finding it easier to purchase smart phones and other such devices. As these devices become more common, consumers are beginning to show more interest in mobile commerce and other services. ICICI Bank has taken note of this growing interest and is now moving to ensure that it can serve these consumers in an adequate fashion.

Application allows for mobile payments

The m-pesa application will allow ICICI Bank customers to use their accounts to purchase goods from retailers. The launch of the mobile commerce solution will be limited to the eastern region of India initially. This region includes Kolkata, West Begal, Bihar, and Jharkhand. ICICI Bank and Vodafone will keep a keen eye on the performance of the solution during this limited launch. Currently, the two parties foresee a phased launch, where the mobile commerce platform will be introduced to the rest of India in numerous stages.

Vodafone offers innovative security

ICICI Bank chose to team with Vodafone because of the company’s broad distribution reach and its innovative security protocols. Security is one of the most important aspects of mobile commerce and an issue that has been attracting a great deal of attention in recent months. Lackluster security from some mobile commerce platforms have left consumers with concerns regarding NFC technology and the safety of their financial information. Vodafone may be able to quell these concerns with its security features and help Indian consumers warm to the concept of mobile commerce.

Mobile shopping to see major growth during holiday season

| November 21, 2012

 

Mobile ShoppingThanksgiving may be the holiday for mobile shopping

Black Friday and Cyber Monday are fast approaching. Both days are very important for physical retailers and online businesses as sales made on these days can more than make up for an entire year of lackluster performance. Black Friday and Cyber Monday have been major holidays for the retail industry and e-commerce respectively, but the growing prevalence of mobile commerce and technology may establish a similar day that could be a major boon for mobile shopping.

More consumers showing interest in mobile shopping

Thanksgiving is a well known holiday in the U.S. As such, the holiday typically means that traditional brick and mortar stores are closed for business. Online retailers, however, remain open throughout the holiday, providing consumers with services that they might not be able to find from physical stores. According to data from IBM/Coremetrics, 15% of U.S. consumers used their mobile devices to visit retail sites on Thanksgiving in 2011, up from the 6.5% that did so in 2010.

Digitas survey shows growing support for mobile commerce and e-commerce

This trend is expected to continue this year, with the possibility of mobile traffic increasing by as much as double for some retailers. Companies like eBay already have plans to begin offering deals on Thanksgiving day, rather than wait for Black Friday or Cyber Monday. According to a recent survey from Digitas, a provider of integrated technology and marketing solutions, shows that many retailers are preparing to serve mobile consumers on Thanksgiving, following the same route as eBay in offering mobile applications that will assist with online shopping.

Survey shows shopping from computer is easier than from mobile device

The Digitas survey does shed some light on the problems facing mobile shopping, however. The survey notes that approximately 76% of the 2,059 respondents surveyed say that shopping from a computer is much easier than from a mobile device. Many consumers attribute the difficulty associated with mobile shopping to the small screens of most mobile devices. Nonetheless, consumers are still likely to heavily participate in mobile shopping during the holiday season.