Tag: Snapchat

Mobile payments to reach $3 trillion in the next five years

| December 10, 2014

New report predicts the global growth of mobile commerce and payments volume

Market research firm yStats has released a new report that predicts that mobile payments will continue to boom globally. A growing number of consumers are becoming more prone to shopping online and using their mobile devices to pay for products they are interested in. These consumers are also using their mobile devices to pay for products in physical stores. As this becomes more common, the mobile commerce market is expected to reach new heights in terms of payment volume.

Mobile payments will outpace online payments in terms of growth

The report predicts that online payments will exceed $3 trillion within the next five years, with the mobile space driving growth. Mobile payments are expected to outpace online payments in terms of growth over that period of time. New mobile commerce platforms being supported by retailers are making it easier for consumers to pay for products in physical stores. Some of these platforms have managed to find a great deal of success among consumers and the demand for new, mobile-centric services offered by retailers is growing.

Mobile commerce proves to be an attractive concept to many companies

mobile payments to growThe mobile commerce market shows so much promise that companies that had not been involved in commerce are beginning to show interest therein. Snapchat is one of the latest organizations to break into the mobile payments field. The company recently unveiled its new Snapcash service, which allows users of the Snapchat application to send money to one another. Apple also recently entered into the mobile payments space with its own platform, called Apple Pay.

Asia-Pacific region may be the leading market in the mobile commerce field

The Asia-Pacific region is expected to be the leading market wherein mobile commerce thrives. The report from yStats notes that online payment users in China has reached 300 million, with mobile payment users reaching 200 million. In Japan, mobile commerce has been quite common for several years now, but new services are making it possible for consumers to purchase products in stores with nothing more than their mobile devices.

Snapchat attracts interest of mobile commerce giant

| August 4, 2014

Alibaba is showing strong interest in acquiring Snapchat

Alibaba, China’s largest e-commerce organization, may be looking to invest in photo messaging application Snapchat. The app has become widely popular, used heavily by those that want to share pictures and short videos with the people they care about. Alibaba is reportedly in talks with Snapchat regarding financing, which could value the application at $10 billion. Why Alibaba is showing interest in Snapchat is something of a surprise considering the company’s focus on commerce, but Alibaba has been growing increasingly mobile-centric over the past year.

Snapchat is resilient to the attractive offers produced by companies like Facebook

Snapchat has yet to show any interest in the acquisition proposals offered by other companies. Facebook recently offered to purchase Snapchat for $3 billion, an offer that was rebuked by CEO Evan Spiegel. Though Snapchat may not be looking to be acquired by a larger company, that does not mean these companies will stop trying to buy it. Alibaba has considerable financial clout, and the offer that the company makes to Snapchat could change the mind of Spiegel.

Alibaba could use Snapchat to compete with Tencent in the social space

Alibaba - Mobile CommerceAlibaba has an interest in mobile applications like Snapchat because its primary rival in China, Tencent, currently holds dominance in the social and gaming fields. Tencent’s WeChat application is one of the most widely used in the world, and the company has recently introduced mobile commerce services to the platform. Alibaba has missed out on the mobile messaging craze, focusing instead on e-commerce. Now, however, Alibaba may be looking into engaging in the mobile messaging space, and Snapchat may be the best tool through which to do so.

WeChat proves that a social application can become an effective mobile commerce tool

Snapchat does not support mobile payments in any way, but that could change in the future. The WeChat application had been nothing more than a messaging platform until very recently. The application can now be used to purchase products from certain retailers and order taxi services in some cities in China.