Tag: mobile payments

Mobile commerce set to boom in the UK

| May 23, 2014

Consumers are growing fonder of mobile shopping as retailers change their behavior

Consumers are becoming increasingly adverse to traditional forms of commerce, according to research from PayPoint, a provider of multi-channel payment solutions. This trend has been going on for some time, with consumers showing more interest in online forms of commerce over more traditional forms of commerce. In particular, mobile payments have been growing in popularity at a rapid rate, due to the growing prominence of mobile technology and the availability of new payment services being offered to consumers throughout the world.

19.6% of all transactions to come from mobile devices by 2019, according to PayPoint research

Mobile commerce is expected to see a significant degree of success in the United Kingdom in the coming years. According to PayPoint’s research, an estimated 19.6% of all transactions made throughout the country will come from mobile devices by 2019. Currently, some 9.3% of transactions are conducted through a mobile device. Consumers are becoming more comfortable with the concept of mobile commerce, especially as they see retailers and other organizations taking steps to make online shopping more secure and convenient.

Retailers are beginning to adapt to a mobile-centric society

Mobile Commerce UKRetailers have been noticing a shift in consumer behavior over the past several years. Many people are becoming mobile-centric, relying heavily on their smartphones and tablets to function in daily life. This has lead to a growing demand for mobile services, which cater to these consumers in particular ways. Retailers have been taking steps to adapt to changes in their given market by embracing mobile technology themselves.

Consumers are still somewhat wary of mobile shopping due to past problems

Finding success in the mobile commerce field has been a challenge. Security issues have steered many people away from mobile payments, while poor online shopping experiences and other problems have done the same. Consumers have shown that they are willing to participate in mobile shopping, but only if the services being offered to them are convenient and mostly problem-free. Poor shopping experiences can discourage consumers from participating in mobile commerce in any significant fashion.

Standard Bank launches mobile payments app

| May 22, 2014

Banking organization releases new mobile commerce application

Standard Bank, a pan-African banking organization, has launched a new mobile payments application called SnapScan. Mobile commerce is becoming quite popular in Africa, especially as more people in various countries gain access to smartphones and tablets. The proliferation of mobile technology is having a major impact on commerce and the demand for mobile services is beginning to grow at a dramatic rate. In order to accommodate demand, organizations like Standard Bank have been releasing new services that are mobile-centric in nature.

SnapScan leverages QR codes to initiate mobile transactions

The new SnapScan service is meant to give consumers the ability to participate in mobile commerce through the use of QR codes. The application can scan these codes and initiative a mobile transaction. The codes can be associated with any sort of product or service and have become a very popular mobile commerce tool in recent years. These codes are quite easily produced and, in most cases, can be made for free, which is one of the reasons they are particularly popular among retailers and in the marketing field.

10,000 merchants in Africa accept payments from SnapScan app

Mobile Payments - Standard BankSome 10,000 merchants throughout Africa have partnered with Standard Bank in order to accept mobile payments coming from the SnapScan application. These merchants provide consumers with unique QR codes. Once the code is scanned and a payment has been issued, merchants receive an SMS message that verifies that the payment has been received successfully. SnapScan may become more popular in Africa as more consumers make use of the application and see its merits.

Security remains a major challenge for mobile commerce

Many people favor mobile commerce because of its convenience, but consumers are also wary of the mobile space because of the security threats that exist therein. Security has been a major problem for mobile commerce for some time, as it is a popular target for malicious groups that seek to exploit financial information. If organizations can find a way to boost the security of the services that they provide, they are likely to find success in the mobile space.