Tag: mobile payments

Consumers growing more comfortable with mobile commerce

| February 23, 2013

Mobile Commerce ConsumersIntela study shows mobile commerce is seeing strong acceptance among consumers

Consumers in the United Kingdom are becoming more comfortable with the prospect of purchasing goods with their mobile devices, according to new research from Intela, a leading performance marketing firm. The UK is one of the most auspicious markets for mobile commerce in the world, with many telecommunications companies and financial services firms working to engage mobile consumers in more dynamic ways. Retailers throughout the country have been embracing mobile payments, adding momentum to the growth of mobile commerce and helping make consumers more comfortable with participating in mobile commerce.

More than 50% of UK mobile consumers eager to make mobile payments

According to Intela, more than half of the UK’s mobile consumers are now comfortable with making mobile payments of $15 or more. The firm notes that the initial growth that mobile commerce had seen in the UK was due to the “iTunes effect,” the trend that saw consumers purchasing music and applications through their mobile devices. This trend helped consumers understand how mobile payments worked, and now these people are beginning to make purchases through platforms outside of iTunes as their options become more varied.

Investments in mobile commerce are growing

Intela notes that investments in mobile commerce coming from UK businesses rose significantly in 2012. Many of the businesses adopting mobile commerce have adopted a strong focus on educating consumers on how to participate in mobile payments. The firm notes that these efforts have paid off very well, with approximately 40% of UK consumers claiming they have a better understanding of how mobile commerce platforms work. Moreover, these consumers are very likely to make mobile purchases in the future for products they are interested in.

US consumers also show comfort with mobile payments

Intela’s study is not focused solely on the United Kingdom. The firm found that U.S. consumers are also growing more comfortable with the concept of mobile commerce. According to Intela, 56% of U.S. consumers are happy to spend more than $10 on mobile purchases. Nearly one in two of these consumers are very comfortable with mobile commerce platforms and how these platforms operate.

Mobile commerce market in India to see strong growth

| February 20, 2013

Mobile Commerce India GrowthReport highlights the growth of India’s mobile commerce sector

TechNavio, a leading market analysis firm, has released a new report concerning the growth of mobile commerce in India. Consumers throughout the country have been showing strong interest in mobile commerce, especially as smart phone and tablet ownership rises. As mobile devices become more prolific, consumers are discovering services that had, in the past, been non-existent. The firm’s Mobile Commerce Market in India 2012-2016 highlights some of the trends that are emerging in India and forecasts the future for the country’s mobile commerce market.

Growth powered through mobile device proliferation

According to the report, India’s mobile commerce market is slated for a compound annual growth rate of 71% between 2012 and 2016. One of the major factors contributing to this growth is t he increasing number of mobile devices being made available throughout the country. More powerful smart phones and tablets, as well as expanding access to mobile Internet, has enabled more people to discover new forms of commerce.

Security continues to be a major threat

The report notes that the mobile commerce market has also been receiving significant government support. This is primarily due to concerns regarding mobile security. Because mobile devices handle a high volume of personal information, including a consumer’s financial details where mobile commerce is concerned, the risk of cyber crime is relatively high. Hackers can steal and exploit a consumer’s financial information if there are not adequate security measures in place. The Indian government is keen to ensure that such sensitive information is as protected as possible.

Businesses expected to see challenges within India’s market

While the mobile commerce market in India is poised to see major growth in the coming years, companies and financial services institutions interested in the mobile space will likely be faced with many challenges. Currently, the most significant challenge that exists in the mobile commerce world is security, but promoting the adoption of and participation in mobile commerce among consumers is also likely to prove challenging.