Tag: mobile payments

New survey shows that businesses are taking mobile commerce more seriously

| June 5, 2013

Mobile commerce is gaining more support from businesses in the US

InformationWeek and Mobile Commerce World have released the results of a new survey concerning the growth of mobile commerce in the U.S. The advent of mobile technology has had a major impact on the way consumers live their lives. People are beginning to rely very heavily on their smartphones and tablets to handle many aspects of their lives, particularly commerce. Mobile commerce is quickly becoming a very prominent part of the lives of consumers and as it becomes more popular with these consumers, businesses are beginning to see mobile commerce grow more important to them as well.

71% of companies consider mobile commerce extremely important

According to the survey, 71% of companies in the U.S. believe that mobile commerce is extremely important to their future. These businesses consider the mobile space to hold very promising revenue opportunities, but tapping into these opportunities has proven somewhat difficult for several companies throughout the U.S. Part of the reason for this is due to the challenges that mobile commerce itself faces, especially in regards to mobile security.

Mobile Commerce ReportComprehensive mobile commerce services become more widely available

While challenges do exist, more comprehensive mobile commerce services are beginning to emerge throughout the country, some of which have shown their ability to overcome the challenges of security and efficiency. The survey shows that one-third of businesses have plans to adopt these comprehensive services in the near future in order to accommodate the changing needs of consumers. Nearly 40% of these companies are embracing mobile commerce specifically to connect more dynamically with a new generation of consumers that have proven heavily reliant on technology.

Mobile commerce accounts for 11% of all online sales in the US during 2012

Another report from eMarketer, a leading market research firm, provides some insight on why companies are beginning to embrace mobile commerce more readily than they have in the past. The eMarketer report shows that U.S. retail mobile commerce sales reached $25 billion in 2012, accounting for 11% of all online sales made throughout the country during that year.

Mobile payments firm wins backing of Groupon and American Express

| June 4, 2013

SumUp wins funding to expand mobile payments services

A mobile payments startup based in Berlin, Germany, has received the financial backing of large companies like Groupon and American Express recently. SumUp is a relatively new startup company that currently operates in 11 European countries and has helped expand mobile payments throughout the region. Consumers have been growing more comfortable with the idea of mobile commerce and have been demanding new services that are more comprehensive and more convenient for their needs.

Company may be able to establish stronger foothold in Europe

SumUp has announced that it has raised several million dollars in funding from companies that are interested in its approach to mobile payments. The funding is expected to help SumUp expand the services it offers throughout Europe. While mobile commerce has managed to establish a strong foothold in Europe, it is still considered a young sector that faces significant challenges that can derail growth and progress. Appropriate levels of funding could help mobile payments overcome these challenges and find better traction throughout the world.

Mobile Payments - Support from Groupon and American ExpressLarge companies currently dominating mobile commerce field

SumUp is not the only mobile payments firm operating in Europe. Several larger companies, such as PayPal, have begun to muscle into the mobile commerce sector in the region, all looking to establish some rapport with consumers and make them more comfortable with the concept of making mobile payments. Whether SumUp will be able to compete with these larger companies is uncertain, but the firm may be able to beat out smaller competitors that exist in the market.

UK consumers show great deal of love for mobile payments

Thus far, consumers in the United Kingdom have been the most willing to embrace mobile commerce. The country already has a robust mobile payments infrastructure. Several companies in the UK have embraced mobile payments, creating a highly competitive environment that has been unaccommodating to smaller companies that are not backed by significant funding. Fortunately for SumUp, both Groupon and American Express have considerable faith in the company.