Tag: mobile payments

Nearly half of all online sales in Europe could come from mobile commerce by 2018

| November 13, 2014

New report highlights the rapid growth of the mobile shopping space in the coming years

Forrester Research has published a new report concerning online sales throughout Europe. A growing number of consumers in European countries are beginning to favor shopping online, purchasing products and having them delivered directly to their homes. The report predicts that online shopping will continue to gain momentum throughout Europe in the coming years. Mobile commerce is expected to play a major role in the digital space as well, especially as more people become comfortable with using mobile-centric services offered by retailers and other businesses.

49% of all digital sales throughout Europe may be made from a mobile device by 2018

According to the report, mobile commerce is expected to account for 49% of all online sales in Europe by 2018. Mobile spending is expected to reach approximately $25 billion by the time, nearly representing the majority of all digital spending made in Europe. Tablets are likely to account for a significant portion of mobile spending, as these devices are quickly becoming a favored mobile commerce platform among consumers.

Adoption of mobile commerce is accelerating rapidly

Mobile Commerce - EuropeThe adoption of mobile commerce among businesses and consumers have been growing rapidly over the past two years. Retailers have begun seeing people using their mobile devices while shopping more regularly, with many of these people using their smartphones and tablets to research products before making a purchase. In order to engage the mobile audience, many retailers have begun adopting mobile-centric services, particularly those that facilitate mobile payments.

Retailers could find significant success by supporting the mobile audience

As people become more comfortable with mobile shopping, they are beginning to do so more regularly. Retailers that are moving to support this could see significant success in the coming years, while those that resist mobile commerce may find it difficult to connect with consumers. The mobile space is expected to be particularly active during the holiday season, during which many people may seek to exploit  the convenience that mobile commerce has to offer them.

Mobile payments competition is growing in Asia

| November 12, 2014

New payment services are being launched throughout Asia

Competition in Asian mobile payments space is heating up. Samsung Electronics, one of the world’s largest mobile device makers, has announced that it will be launching a new payment service in the near future. The company has partnered with Yelopay and six of South Korea’s commercial banks for the endeavor. The new service, dubbed Samsung Wallet, is expected to be made available by the end of this year and will come pre-installed on all of Samsung’s new Galaxy devices.

Samsung Wallet is expected to see a limited release by the end of this year

The Samsung Wallet will support peer-to-peer money transfer as well as allow users to make payments at participating retail locations. There will be no commission charged on transactions made through the new service, which may make it quite popular among businesses looking to involve themselves in digital commerce. Samsung wallet is being designed to support both online and offline payments as well. While the Wallet service is slated for an initial launch at the end of the year, Samsung has not yet detailed a full timeline for commercialization.

LINE looks to break into the Japanese mobile commerce market

Mobile Payments - AsiaIn Japan, mobile service provider LINE is planning to launch its own payment platform with the help of Naver, the country’s largest Internet service provider. The new service, called LINE Pay, is meant to be incorporated into LINE’s existing mobile messenger platform. The service will support mobile payments for digital purchases, as well as banking transactions.

Small companies may find it more difficult to compete in the payments space in the coming years

Mobile commerce has been particularly popular throughout Asia, where the demand for new payment services has been on the rise for some time. Consumers have become quite comfortable with the concept of shopping for and purchasing products with their mobile devices, and many companies are beginning to take steps to provide these consumers with the services they want to use. It may become increasingly difficult for small companies to find traction in Asia, however, due to the increasing number of large companies, like Samsung, looking to break into the digital payments space.