Tag: smartphone payments

Retailers have specific demands for mobile wallet adoption

A new ACI Worldwide report has shown that there are two major priorities for these payment apps.

The results of a new ACI Worldwide survey have now been released and, within them, it has been revealed that retailers considering mobile wallet apps are most interested in two major issues: security and the ability to use rewards programs.

That said, between those leading issues, it is the mobile security features that tops the list.

Among the retailers who responded to the survey, two out of every three said that the security aspect of mobile wallet apps is their leading concern. This demand from retailers for mobile payments solutions that provide adequate security should help to assuage some of the concerns that consumers have also expressed with regards to adopting these new types of transaction technologies.

That said, beyond security, there were a number of other expectations retailers had for mobile wallet apps.

Mobile Wallet AdoptionSeventy two percent of the surveyed retailers said that security was their top issue for their mobile commerce apps, in general, but when it came to payments, that figure rose to 75 percent. However, just slightly less – 71 percent – said that they wanted the integration of loyalty options into m-commerce apps, while 55 percent were concerned about that issue with mobile payments apps. Another 55 percent said it was important to be able to achieve seamless ordering through the use of the shopping applications but for wallet apps, that was seen as important only among 46 percent of the respondents.

According to the ACI Worldwide vice president, product line manager, Lynn Holland, in the company’s release on the study, “The proliferation of retail digital channels demonstrates the trend that ‘clicks upstage bricks,’ but even consumers shopping at traditional brick and mortar stores are increasingly using in-store browsing capabilities, which puts the power of information in sales associates’ and consumers’ hands.”

Holland also pointed out that no matter the channel, the results of the research indicated that over m-commerce and mobile wallets, payment security remains a top concern among retailers considering the use of this tech, especially in issues such as point-to-point encryption and tokenization.

Mobile payments startup raises $10 million in latest funding round

Payleven has raised more funding to aid its mobile commerce initiatives

Payleven, a mobile payments startup that was initially incubated in 2012, has announced that it has raised $10 million during its latest round of funding. This brings the total funding that the startup has raised to $51 million. The funding is has added additional growth capital to Payleven, which has managed to find significant success among small and medium sized businesses. The company is expected to compete with others in the mobile commerce field, which has become quite competitive in recent years.

Seventure Partners joins other investors in supporting Payleven

Seventure Partners, a European venture capital firm based in France, is the newest investor in Payleven. The firm notes that it is excited about the prospects of the mobile payments company. Seventure Partners believes that Payleven has shown that financial technology companies are able to reach scale in promising markets, finding considerable profitability in a relatively short amount of time. The new investor may prove to be a boon for Payleven, which intends to find more success in the mobile commerce space.

Funding will help Payleven expand into new markets and acquire more customers

Mobile Payments Startup Gets FundingThe funding raised by Payleven will be used to expand into new product lines and accelerate customer acquisition. The funding will also help the company stay competitive in the financial technology space. The market has become extremely competitive, with several companies, some of which are quite large, have become involved in this space, introducing new and highly popular mobile payments platforms. This competitive environment has fostered innovation, but some companies have found it difficult to connect with both consumers and businesses.

Competition in the mobile commerce space is heating up

Mobile commerce is expected to see significant growth in the coming years, which may benefit smaller companies like Payleven. These companies will have to provide innovative, secure, and convenient services in order to gain support from consumers. Retailers, in particular, have shown strong support for mobile payments systems from startups, largely due to their ability to create a dynamic connection with consumers.