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Mobile commerce is becoming a force to be reckoned with

| October 30, 2015

Retailers cannot ignore mobile commerce any longer, as more consumers use their devices to shop online

Mobile commerce has become a powerful force throughout the world and may now be something that retailers can no longer ignore. Retail e-commerce has been on the rise for some time, and more consumers are beginning to use their mobile devices to shop online and purchase products. Numerous merchants have reported a significant rise in their mobile traffic over recent years, with spikes in this traffic occurring between November and December, as consumers do their holiday shopping.

Many consumers are expected to use their mobile devices to shop for products during the holiday season

According to a recent report from eMarketer, retail e-commerce is expected to see a surge during this year’s holiday season. The report estimates that online sales will reach $79.4 billion this year, an increase of more than 13% from what was recorded in 2014’s holiday season. Mobile commerce is expected to play a role in this growth in sales, as more consumers will be using their smartphones and tablets to make purchases. These devices also allow shoppers to avoid large crowds, which would otherwise slow their shopping experience.

Mobile commerce sales are expected to spike by 32% over what they were last year

Mobile Commerce - Holiday ShoppingThis year, eMarketer expects that mobile commerce sales will jump by 32%. Mobile devices now have larger screens, which improve the shopping experience. The convenience of mobile commerce has also proven to be an attractive concept for many consumers. Mobile shoppers are expected to use their devices to research products and find special deals, which can help them save money on their holiday purchases.

Consumers prefer to use mobile apps over web browsers when shopping from a mobile device

Consumers are becoming more accustomed to mobile commerce as a whole. A recent survey from PayPal found that 47% of those that have used their mobile devices to shop online prefer doing so in applications rather than through a web browser. Apps appear to streamline the mobile shopping experience, making it easier for consumers to find and purchase products that they may be interested in.

European mobile payments firm is coming to the US

| September 4, 2015

Klarna announces partnership with Overstock.com

Klarna, a mobile payments firm based in Sweden, has made its first U.S. deal by partnering with Overstock.com, an acclaimed online retailer operating in the country. This partnership brings more competition into the mobile commerce space and places Klarna in conflict with PayPal and other companies that have worked to establish a foothold within the growing market. The partnership will also allow Overstock.com to better engage mobile consumers as well, providing the company with a way to support those shopping with their smartphones and tablets.

Firm continues to see success in providing a convenient way to purchase products online

Klarna has helped retailers embrace the mobile payments space for several years. The firm allows retailers to take advantage of convenient payment systems that only require an email and shipping address. Shoppers will then receive an email regarding the transaction they wish to make. In cases where shoppers have a high credit score, they are able to pay for a product when it is shipped rather than during the initial checkout process. In this way, Klarna actually pays the merchant for the product being purchases, with consumers then paying Klarna.

Klarna generates $300 million in revenue last year

European Mobile Payment Firm heads to USALaunched in 2005, Klarna now accounts for more than 52 million users. It is currently used to power mobile payments for some 55,000 online retailers operating in Europe. The firm is also backed by a banking license in Europe due to it providing some consumers with credit when shopping online. Last year, Klarna reported $300 million in revenue. Approximately 10% of all e-commerce transactions made in Europe are made through the use of Klarna.

More competition in the mobile payments space will give consumers better options

As mobile payments continue to grow in the U.S., the country is becoming a more attractive market for those that have already established a presence in other countries. Klarna sees some promise in the mobile commerce space and intends to establish a foothold in the U.S. Klarna may succeed in bringing more competition to the mobile payments space, forcing other companies to offer better services.