Tag: mobile payment

Though there were a number of missteps throughout 2012, many believe 2013 will turn things around.

Last year, many of the players in the mobile payments industry had expected the use of smartphone wallets and similar services to take off, but the actual figures fell far short of the mark.

This year, experts in the industry believe that 2013 will represent a major turnaround in this area.

That said, the experts don’t believe that it will be Google, Isis, and the other joint venture mobile payments wallets that will take off this year. Instead, the attention is turning toward the banks that have been lining up to make their own way into the world of smartphone transactions.

This opinion is shared among a panel of 200 mobile payments industry experts.

This panel is made up of industry executives, insiders, and developers, who all share the belief that 2013 will be the year that is the most compelling for consumer mobile payments applications. They also stated that social networking and location apps will play an important role in the industry as a whole.

The results of a recently conducted survey by Chetan Sharma Consulting have shown that mobile payments and mcommerce will not only take off, but the power behind them will not be the traditional internet players. Instead, it will be the traditional financial companies.

According to the participants in the survey, they feel that Google, carriers, and the various popular new startups such as Square have had their chance to appeal to consumers and make it big, but that as a whole, they failed to make the impact that they had been hoping to make. Instead, it is the turn of the large credit card companies (such as Visa and MasterCard) and the banks and other established financial companies (such as PayPal) to step in and clean up the damage that was left behind.

It is those companies, said the survey participants, who will make the largest difference in mobile payments, and that will offer consumers the mobile security level and the type of services that they have been waiting to see before taking part.

More consumers becoming interested in mobile commerce

The retail industry has been eager to appeal to mobile consumers, but many companies seem to have been approaching the issue with a certain degree of caution. Slow implementation of mobile-centric services, such as mobile commerce, coming from retailers has not gone unnoticed by consumers. A new study from Moosylvania, an advertising agency, shows that a large number of consumers want to see more mobile information and mobile commerce services in the stores they favor.

Study shows majority of consumers want more mobile-centric services

According to the study, which surveyed 1,874 smart phones owners, 80% of consumers want to see more product information made available on their smart phones. The study notes that consumers want to see this information in a way that is optimized to be viewed on their mobile device. This demand is becoming more apparent as the number of consumers who rely on their smart phones while shopping increases. Consumers are becoming more likely to use their smart phones and other mobile devices while shopping in order to take advantage of special offers made by retailers online, as well as take advantage of the convenience offered through mobile commerce services.

Mobile research is high among smart phone owners

The study shows that 30% of smart phone owners typical research products through their devices while away from home. Approximately 73% of consumers compare prices on certain products offered by several retailers. The study also shows that these consumers are more likely to spend large amounts of money through mobile commerce. Approximately 50% claim they have made a purchase of $100-$999 using their mobile device. Only 12% of consumers claim to have never used their smart phone to make a purchase.

Consumers show more enthusiasm for mobile commerce

The study also shows that mobile consumers are eagerly anticipating the arrival of comprehensive tools that will make mobile commerce easier for them. Some 44% of consumers say they would like to see advanced mobile wallet platforms for their mobile devices. These platforms are developed to help consumers participate in mobile commerce more easily by providing them with a way to efficiently and securely store their financial information.