Tag: mobile payments

7-Eleven, PChome, and CTBC have all introduced this new smartphone payments option.

PChome Online Inc subsidiary, Pi Mobile Technology Inc. has now launched the Pi mobile wallet app for consumers to use to may payments at over 5,000 convenience stores throughout Taiwan.

The application is the result of a collaborative effort among some of the major players in the country.

The Pi mobile wallet has come about because PChome, CTBC, and Uni-President Enteterprises are all working together to launch it. PChome is the top online shopping portal in Taiwan. CTBC Bank is the leading issuer of credit cards in the country. Uni-President Enterprises is the operator of Taiwan’s 7-Eleven franchise. According to Jan Hung-tze, the chairman of PChome, at a press conference, “The partnership with 7-Eleven is expected to accelerate growth in mobile payment usage in Taiwan, as smartphones and convenience stores have become an integral part of our daily lives.”

When the mobile wallet is combined with a credit card from CTBC, small purchases can be made.

These mobile payments have a maximum limit of NT$1,000 (almost US$32.00). The wallet app allows consumers with a CTBC Bank credit card to buy products at the 7-Eleven stores across the country. All they need to do is have the Pi application running on their smartphones. When the user is ready to make a purchase, a unique barcode is displayed on the smartphone screen. It is then scanned at the checkout counter and the payment is automatically made. The transaction is then verified and completed when the user enters a four digit code.

In the country, cash payments currently make up an estimated 75 percent of all transactions, according to Jan. They are considerably behind the times when compared to the trends in other countries in the Asia Pacific region as well as in many nations around the world. In Singapore, South Korea, and Hong Kong, for example, cash payments have dropped to about 50 percent.

All credit card information from this mobile wallet is stored remotely, and transactions can be completed only if the four digit code is used. In that way, the mobile security features are in place to stop the device from being used to make purchases by the wrong person. Furthermore, the fact that it can be used only at 7-Eleven and it has a maximum transaction limit further reduces the risk of fraudulent charges.

Wish has announced its successful acquisition of Locket

Wish, a relatively new mobile commerce company that has been growing very quickly, has announced that it has acquired Locket, a company that has developed a platform to display advertisements and other content on smartphone lock screens. Locket has become somewhat popular, as it has managed to transform lock screens into an effective engagement tool for companies looking to connect with mobile consumers. The acquisition could open up new opportunities for Wish, especially as mobile commerce becomes more popular.

Lock screens may provide new opportunities for those interested in mobile commerce

The lock screen may be one of the features of a smartphone that receives the most attention. Those with mobile devices often look at their lock screens, typically to check the time and notifications. Considering how often people look at their lock screens, there may be significant opportunities for engagement, especially when it comes to mobile commerce. The lock screen could be used to expose consumers to products that they may be interested in, and provide them with a way to purchase these products through a mobile commerce platform, such as Wish.

Wish continues to see strong growth as it engages mobile consumers

Wish has experienced a rapid growth over the past three years. The company has been somewhat silent with its endeavors, but has managed to attract a great deal of support from consumers and retailers throughout the country. Wish is responsible for four applications: Wish, Geek, Cute, and Mama, all of which have managed to find a place with consumers.

Acquisition could add more momentum to Wish’s continued growth and success

Wish may benefit from Locket’s expertise in engaging mobile consumers. This may add further momentum to the growth that Wish is experiencing currently and provide the company with more mobile commerce opportunities on which to capitalize. As mobile commerce grows, the demand for services that make it easier for consumers to shop for and purchase products on their smartphones is growing significantly, placing companies like Wish and Locket in a powerful position to connect with consumers.