Tag: mobile payments

This new smartphone payments service has been made available to device users in India.

Idea Cellular has recently announced the launch of its new mobile wallet service, called Idea Money, that is designed to give consumers the ability to complete certain payment transactions, such as recharging their prepaid mobile accounts.

It is also designed to allow utility bell payments DTH recharges, and make online money transfers.

This service was first launched in July in Mumbai and it will be rolled out throughout India through a number of phases, said a source from the company. That said, that individual declined to share the availability timeline for the availability of the mobile wallet across the country. This is far from the only service of this nature that is available within the Indian market. Vodafone, Tata Teleservices, Bharti Airtel, and other mobile operators are already providing mobile payments options to their customers.

The Idea Money website describes the mobile wallet as a semi-closed prepaid payment service.

That website explained that the service is being offered by Idea Mobile Commerce Services Limited (IMCSL), which obtained its license to provide it through the Reserve Bank of India. Idea stated that “Simply put, it is a prepaid account which can be accessed using your mobile phone or the Internet for conducting a variety of transactions like prepaid mobile recharges, DTH recharges, utility bill payments, money transfers & more.”

At the moment, the number of uses for these mobile payments is limited to certain bills on top of money transfers. It can recharge prepaid mobile services, recharge DTH, pay off utility bills, and send money to specific accounts. Though this does provide consumers with a convenient opportunity to use their smartphones and tablets to make payments, the company is hopeful that the uses will soon be able to broaden.

At the same time that it is focused on rolling out this mobile wallet across the remainder of India, it is also looking into additional uses for the service. This includes the introduction of mobile payments for shopping at stores and restaurants, for example, as well as uses for ticketing transactions. This could help to boost the appeal of the service among consumers who are using their smartphones for a growing number of daily activities.

Commerce is becoming more integrated with social media

Social commerce is a relatively new term being used in the Western world. It is not a term that is often used, even with regards to e-commerce, but the phenomenon behind this world is gaining power throughout the world. Social commerce refers to the use of social networks in the context of e-commerce transactions. In China, this has become a powerful force and the country’s social networking sites are beginning to evolve to become more mobile-centric and engage consumers in commerce.

Mobile commerce is changing the way people interact with businesses

Commerce is beginning to change due to the adoption of mobile technology. More consumers are using their smartphones and tablets to make their lives easier and more convenient. These devices are trafficking consumer information and have successfully changed the way people interact with one another and with businesses. As people become more aligned with mobile technology, businesses are taking steps to embrace mobile commerce. A growing number of these businesses are beginning to see that they can find success through leveraging social media to promote mobile shopping.

Tmall shows off the capabilities of its social commerce platform

Tmall, an online retailer similar to Amazon, is one recent example of a company embracing social commerce. The retailer has integrated a social media platform that is being used as a consumer-power review system. The platform allows users to rate products and companies based on various factors, such as the accuracy of a product description and the customer service being offered by a company. Products with high rating receive more promotion from Tmall through the social platform.

There is more spending power among active social media users in China than in the US

One of the reasons social commerce has become so powerful in China has to do with who actually uses social media platforms. In the U.S., the largest demographic of active Facebook users are those that have recently graduated college, whom tend to have very little spending power. In China, however, the majority of those that are active on social media sites have higher incomes and more spending power, making them an ideal demographic for social commerce.