Tag: mobile transactions

Mobile payments still faces many challenges in the US

| March 15, 2016

Consumers are slow to warm to the mobile commerce space

Mobile transactions are slated to see strong growth in the United States this year, but the mobile commerce space may be facing significant challenges that could be difficult to overcome. A recent study from eCash shows that approximately on 20.7% of people in the United States make use of the new Apple Pay service. Other services may be popular among consumers as they have been around longer, but many consumers may simply be uninterested in mobile payment services, largely due to security concerns.

Apple Pay users do not frequently use the service to make purchases

Of those using Apple Pay, approximately 56% use it only once a week. Another 15.3% say they have never used the service. While consumers consider mobile payments to be convenient, there are numerous reasons why they are not using their mobile devices to purchase products. Security may be the most significant concern that consumers have as the mobile commerce space has become a target for malicious groups that want to exploit consumer information for their own gain.

Security remains the greatest concern among consumers

Mobile Payments to Grow but security a concernSecurity is the biggest barrier preventing consumers from using mobile payment services. According to a report from eMarketer, 57% of Internet users in the United States cited security concerns as the main reason they did not use mobile wallets. Another 62% of smartphone owners in the country said that they do not plan to use mobile wallets because of worries regarding the security of their information.

Lack of a global standard slows the adoption of mobile payments among consumers throughout the world

Security is not the only problem facing the mobile commerce space. Currently, there is no global standard governing the mobile payments space. There are no common interfaces that makes mobile commerce universally recognizable among consumers. Once a global standard is set, however, it will allow consumers to use any application to shop online and in physical stores, using their devices to make purchases that they are interested in.

Docomo Digital aims to revolutionize mobile commerce

| February 22, 2016

NTT Docomo launches new commerce firm that will engage the world

NTT Docomo, Japan’s largest mobile network operator, has launched a new mobile commerce firm in the United Kingdom called Docomo Digital. The new firm is meant to promote mobile transactions throughout the world, encouraging a greater degree of financial inclusion. Docomo Digital already has the resources at its disposal to create new mobile commerce solutions that can be used by a wide range of merchants throughout the world.

Docomo Digital aims to create an inclusive digital commerce environment for all

Docomo Digital will be leveraging the experience of its parent company, NTT Docomo. Since 2009, Docomo Digital has been developing itself into an organization that will change the mobile payments space. The organization hopes to make mobile transactions and shopping more convenient, reliable, and secure. It also intends to create an ecosystem wherein merchants focused on the mobile space can thrive and connect with consumers that have become heavily reliant on smartphones and tablets to get their shopping done.

Demand for new services is rising quickly amongst mobile-centric consumers

Revolutionizing mobile commerceThe demand for comprehensive mobile payments systems has risen considerably in recent years. Many consumers are becoming more involved in the mobile space, using various devices to shop online and in physical stores. Companies have found that the mobile commerce space can be quite lucrative and have begun moving into this sector in order to take advantage of the enthusiasm of consumers. Demand for secure services is highest, which has created an opportunity for companies that are able to protect consumers information, especially those interested in shopping online.

Competition in the mobile space is growing as consumers become more fickle about new services

Docomo Digital will be competing with several other companies that have entered into the global mobile commerce market. These companies are eager to win the favor of mobile consumers, but this has proven to be quite difficult. When it comes to mobile payments services, consumers are somewhat fickle, opting to move from one service to the next relatively quickly. The services offering the most secure features are often considered the most successful in terms of customer retention.