Japanese consumers to have new option when it comes to mobile payments
Leading mobile payments firm Square has announced that its mobile commerce platform of the same name is now available in Japan. This represents the first time the company has expanded beyond the North American market. Asia has become one of the most attractive markets when it comes to mobile commerce due to the high level of penetration that mobile technology has been seeing over the years. Japan, in particular, has proven to be a hub of activity when it comes to mobile payments.
iPhone consumers may be welcoming of Square
The iPhone is one of the most popular mobile devices among Japanese consumers. This is somewhat ideal for Square as the company’s flagship mobile payments platform was designed for the iOS platform before also being made compatible with the Android platform. Square believes that it can find favor with a multitude of consumers that are eager to participate in mobile commerce without having to embrace NFC technology or purchase a new mobile device just to make mobile payments.
Competition expected to be fierce
Square’s entry into the Japanese market is being considered very bold as the country is home to several mobile commerce initiatives that have already successfully enthralled many consumers. Square is expected to face staunch competition from NTT docomo and KDDI, two of the largest companies in the mobile commerce sector in Japan. PayPal has also established a strong foothold in Japan through its partnership with Softbank. Square believes that it will be able to win over consumers with its flare for design.
Future of mobile payments in Japan is uncertain for Square
Square has managed to establish a great deal of popularity in the mobile payments space. The company has helped expand mobile commerce throughout North America and has proven that it can compete with other companies that exist in this increasingly crowded field. The Asian market is quite different from that of North America, however, which makes Square’s future in Japan anything but certain.
Mobile payments may benefit from new partnership
LevelUp, a mobile payments company, has partnered with NCR, a leading supplier of point-of-sale software in the U.S. Together, the two companies will focus on spreading mobile payments throughout the U.S. and getting consumers more comfortable with the concept of using their smartphones and tablets to pay for products. Mobile commerce has been growing more common in the U.S., but many consumers are still leery as there are many security concerns that surround the subject. LevelUp, along with NCR, hopes to placate these concerns by providing consumers with a comprehensive mobile payments platform.
LevelUp continues to generate hype in mobile commerce
LevelUp has managed to generate some hype in the world of mobile commerce, especially in the retail sector. The company offers its own mobile payments application, which can be used by consumers to make purchases from a mobile device. It also offers a platform designed for retailers who are interested in reaching out to mobile consumers, providing them with a way to facilitate mobile payments. This platform leverages the universal usability of QR codes to help make mobile payments more available to a wider range of consumers. Near the end of 2012, more than 500,000 people were making use of the LevelUp application alone.
NCR contact may prove beneficial for LevelUp
NCR has an extensive network of connections in the retail sector as well as the food industry. The company specializes in designing point-of-sale systems and has taken note of the rise in demand for mobile commerce systems in recent years. NCR is working to meet the needs of its clients by putting more focus on supporting mobile payments. LevelUp is expected to benefit from its new partner’s extensive access to businesses in the retail sector.
Companies look toward food industry
LevelUp is not only focused on the retail sector, of course, and has interests in the restaurant business as well. LevelUp believes that mobile payments can be especially successful in restaurants that work to cater to mobile consumers. As such, the company has been working to break new ground in this sector and grow more appealing to those in the food industry. NCR is expected to aid in this endeavor as it has connections to the food industry.
