Tag: mobile payments

Even among users of these smartphone based wallets, the services aren’t used for most purchases.

Although mobile payments, as a whole, have started to attract the interest of some consumers, they are not providing the true adoption rates that would be required to call this transaction method an actual mainstream success.

Mobile wallets are being used by only 16 percent of device owners.

Moreover, even among those who actually use them, only very few are using them all that often, says a Yankee Group report that has recently been published. It stated that over the three months before the report, only 16 percent of smartphone owners actually used those devices for making a purchase in store.

The report showed that despite this, two thirds of consumers are actually interested in mobile payments.

The report was titled “U.S. Mobile Wallet Roundup: Gauging the Future Potential of Today’s Solutions”. It explained that while there is widespread interest in these wallets, that is not translating into actual adoption, quite yet. That report also assigned PayPal the top spot within this particular space, as 15 percent of consumers had use the company’s app within the previous month for making a purchase in-store.

Within the report, a Yankee Group analyst named Jordan McKee pointed out that every day seems to produce another level of growth when it comes to mobile wallets. However, the actual success in that area is not quite as defined as the hype, itself. McKee added that despite the fact that there have been massive investments throughout this environment, which have been worth billions of dollars, the actual uptake and use of this technology has been far less than “illustrious”.

Among those who are actually using mobile payments, 73 percent are doing so less than five times per month. This indicates that this type of transaction still has a long way to go before it is the top choice among even those consumers who are actually using it – which are clearly in the minority. It is the opinion of the report that this will not see a drastic “change anytime soon”, though they do feel that there is great potential over time due to the massive consumer interest.

Mobile shopping has seen strong growth in the United Kingdom

IMRG Capgemini, a prominent retail industry association, has released a report highlighting the growing popularity of mobile shopping in the United Kingdom. Many consumers in the UK have begun to use their smartphones and tablets to shop online for products that they are interested in. These people also purchase these products directly from their mobile devices, taking advantage of discounts and other deals being offered by retailers. As mobile shopping becomes more prominent throughout the country, many UK retailers are evolving to accommodate a mobile-centric audience more effectively.

Consumers are showing favor for shopping for and purchasing products from their mobile devices

According to the report, mobile purchases now account for 32% of all online sales in the United Kingdom. Consumers have become quite comfortable with the concept of mobile commerce and have shown favor for the convenience that it represents. The report shows that the majority of mobile purchases have to do with apparel and fashion, but many people also use their mobile devices to shop for and purchase electronics and other sorts of products.

Tablets may become the dominant mobile shopping platform

An estimated 70% of the United Kingdom’s populace currently owns a smartphone or tablet. As mobile commerce becomes more popular, many consumers are reporting that tablets offer a more enjoyable shopping experience. Approximately 12 million tablet devices were sold in the United Kingdom in 2013 and many retailers are beginning to fashion their mobile commerce initiatives to cater to tablet devices specifically. Tablets may soon become the most favored mobile shopping platform, but smartphones currently boast of that honor.

Consumers remain concerned over the security of mobile commerce

While consumers have shown their eagerness to participate in mobile commerce, they have also expressed serious concerns. The majority of these concerns have to do with the security of their financial information. Mobile commerce, as a whole, is still quite new. This can mean that retailers and other groups participating in the sector have not yet come to fully understand the security issues that exist in this field.