Tag: mobile payments

A recent report from MEF has shown that uptake is driving a broad range of activities over this channel.

The Global Consumer Insights Series on Mobile Money has now been released by the MEF, and it has revealed its belief that mobile payments are among the primary drivers in m-commerce as well as the consumption of a broad range of other types of content over that channel.

The report was based on an analysis of data from 13 different countries.

This included the answers to survey questions from approximately 10,000 respondents. This data pointed out a number of global and regional trends in the uptake of mobile payments and the ways in which this adoption was stimulating growth across other areas in this channel. The report showed that last year, 15 percent of users of mobile media had made some kind of digital purchase over a smartphone or tablet.

Wallets were the most popular form of mobile payments that were used by the respondents.

The largest group of those that had used these digital transactions (representing 7 percent of the total number of respondents) had used mobile wallets, particularly those that used NFC technology to verify and complete the transaction.

The research from this report was conducted along with On Device Research. It has underscored the importance of users of smartphone based money to the overall m-commerce marketplace. They pointed out that the individuals who are already using digital transactions over smartphones and tablets are 26 percent more likely to make a purchase over their mobile devices.

Worldwide, a tremendous 91 percent of those digital money users also made some kind of purchase over their gadgets in 2013. Comparatively, among all mobile consumers, 65 percent did the same.

Users of mobile payments are also the ones who spend the largest amounts on individual purchases. In fact, they have a 10 percent lower likelihood of making a purchase of a low value. Moreover, their purchases are 14 percent more likely to be within the mid-value range. That said, they are not only more likely to make more purchases, but they also take part in a broader range of activities over that channel, such as scanning QR codes (12 percent more likely), make a charitable donation (11 percent more likely), or use location based services (10 percent more likely).

Amazon continues to work on its mobile presence

Amazon is beginning to gain momentum when it comes to mobile commerce. The company has already established a strong presence in the mobile space. As of June 2013, approximately 57% of the retailer’s user accessed Amazon with a mobile device. With the launch of Amazon’s Login and Pay service in October of 2013, the company has seen more mobile activity. Amazon is expected to find even more momentum in the mobile field as it continues to develop various mobile-centric initiatives.

Company may seek to bring a point-of-sale solution to physical retailers

As Amazon’s mobile interests continue to gain traction, the company may have plans to bring a point-of-sale solution to physical retailers during the summer of this year. This solution would leverage the Kindle device as a checkout platform. The device would be equipped with a card reader that is similar to platforms offered by PayPal and Square. This would allow consumers to make purchases in a more efficient manner than if they used traditional checkout methods. This solution would also accommodate mobile commerce.

Amazon may opt to birth its own mobile commerce platform in the future

Amazon boasts of over 224 million credit cards that are linked to consumer mobile devices that use the Amazon application. These people have been accessing Amazon to purchase products directly from their mobile devices fairly regularly and this may serve as encouragement for Amazon to develop its own mobile commerce platform. The company’s Login and Pay system is meant to make it easier for consumers with Amazon accounts to pay for products, but this service may also be a precursor to a future mobile commerce platform.

Amazon remains dubious concerning its plans for the mobile space

The company is somewhat notorious for being secretive with its future endeavors. Amazon has expressed strong interest in mobile payments, but has been elusive when it comes to the matter of how it will tackle mobile commerce in the future. Currently, a significant portion of mobile shoppers make use of Amazon on a daily basis, giving the company a strategic advantage if it does decide to break into the mobile commerce space more aggressively.