Semble has officially launched in New Zealand
New Zealand’s first integrated mobile wallet has been released. Smartphone users throughout the country can now download the Semble application for free, which allows them to make secure mobile payments. The application also acts as a digital wallet, storing data from retailers and financial information. Semble is an independent company, but is owned by Paymark, 2degrees, Vodafone, and Spark. The company was formerly known as TSM NZ, but was renamed for greater market impact.
Semble makes use of NFC technology to process mobile payments at physical stores
The Semble app leverages NFC technology in order to conduct mobile payments. This technology is quite common in the mobile commerce space, where it is used by a wide variety of platforms that process mobile transactions. NFC technology allows digital information to be transmitted over short distances, making it a perfect tool for contactless payments. Using this technology, Semble can be used to make a mobile payment at retail stores that support NFC-based transactions.
Consumer financial information is safely stored in Semble as a digital representation of itself
Semble stores financial information from bank and credit cards. Virtual versions of payment cards are stored within the application in a process that is similar to tokenization. Semble believes that its application will one day replace debit and credit cards. This may eventually become true, as more consumers opt to shop from their mobile devices rather than visit physical stores. A growing number of consumers are also demanding in-store support for mobile payments, which is reducing the use of credit cards and other forms of conventional commerce.
Mobile commerce is expected to continue growing in New Zealand, with more retailers showing their support
Those living in New Zealand have had relatively few options when it comes to participating in mobile commerce. The growing interest in mobile payments has made the country a relatively active market for companies that provide mobile commerce services. In the coming years, mobile commerce is expected to become more active in New Zealand, especially as more retailers opt to support mobile payments.
Retailers are flocking to mobile commerce more quickly than consumers are in Australia
Australian retailers are adopting mobile payments faster than consumers, according to Vend, a New Zealand vendor that develops point-of-sale tools for traditional retail stores. Consumers have been showing relatively strong interest in the concept of mobile commerce, but only a modest amount of these people have actually begun participating in mobile shopping. Retailers, however, have been aggressive in their adoption of mobile commerce, hoping to engage a consumer base that is becoming more mobile-centric.
Retail sector continues to aggressively adapt to changes in the business landscape
Australia’s retail sector has always been somewhat ahead when it comes to matters of commerce. Retailers in the country are often quick to adopt new technology that allows them to better engage consumers in a dynamic way. The problem, however, is that consumers are not as enthusiastic when it comes to some of the moves that retailers are making. Mobile commerce is still relatively new and while retailers have high hopes for the mobile space, many consumers are wary of the threats that exist therein.
Consumers are still wary of mobile commerce and its security issues
Many people have cited security issues as their reason for not participating in mobile commerce. Because mobile commerce involves the trafficking of financial information over mobile platforms, this sector has become particularly attractive to malicious groups that would be interested in exploiting this financial information. In Australia, consumers are more apt to favor traditional forms of payment rather than mobile forms. Part of this mentality may be due to poor experiences that consumers may have had with mobile commerce platforms in the past.
Many consumers are comfortable with traditional payment methods and have had bad experiences with mobile commerce platforms
Changing consumer behavior is not likely to be an easy feat. Retailers have been promoting mobile payments for some time but have found relatively little traction. Consumers have become quite comfortable with the way they shop and pay for products. New forms of payments can make some people uncomfortable and unwilling to use mobile platforms while shopping. Poorly designed mobile commerce platforms can also have an adverse effect on people’s opinions concerning mobile commerce.
