Tag: square

Who will emerge as a leader in mobile payments is not clear

Mobile payments are beginning to disrupt traditional forms of commerce as more consumers begin to rely more heavily on the smartphones and tablets. These devices have made it exceedingly convenient for consumers to purchase products and services either online or in-store. As mobile payments become more prolific, the mobile commerce market is beginning to brim with competition. Several countries and companies have invested heavily in this market, but it is not entirely certain who will emerge as the dominant force within this industry.

Report shows that consumers are eager for new mobile commerce services

BI Intelligence, a market research and analysis firm, has released a new report that offers insight on mobile payments and those that are leading the way in the current market. According to the report, much of the mobile commerce world is driven by what consumers want. Consumer demand, for instance, has lead to the development of mobile payments platforms that can be used both online and at physical stores. Approximately 52% of consumers wanted such platforms, which are likely to become significantly more available in the coming years.

Singapore among the top countries ready to embrace mobile payments

The report suggests that companies like Square and PayPal are likely to thrive in the coming years, largely due to their very early adoption of mobile payments. Both Square and PayPal have a heavy focus on the mobile space, making them more attuned to the demands coming from consumers than their competitors. In terms of countries, Singapore is considered to have the most mobile commerce “readiness,” with the U.S. and the United Kingdom boasting of average readiness.

US and European consumers are not fully accepting of mobile commerce

While companies could see significant progress in the realm of mobile commerce in the coming years, consumers have yet to be fully won over by mobile payments. BI Intelligence notes that only 10% of consumers in the U.S. and Europe participate in mobile payments.  Many are willing, but concerns regarding security are keeping most consumers tethered to traditional forms of commerce.

SumUp looks to engage businesses in the UK

SumUp, a mobile payments startup based in the United Kingdom, has been working to help promote mobile commerce within Great Britain and Ireland. In August of this year, SumUp raised more than $20 million for its efforts. Now, the company is looking to put that money to good use and believes that Diffusion, a PR and social media communications agency. Together, the two plan to help boost the adoption of mobile commerce throughout the UK by focusing on businesses within the country.

Diffusion to handle social media efforts and traditional marketing for Sum Up

Diffusion will be handling SumUp’s social media efforts and will be operating traditional marketing campaigns, which will be targeted at businesses that have shown interest in mobile commerce in some way. Diffusion notes that there may be a serious opportunity for growth in the UK and Irish markets, claiming that the number of people with smart phones in these regions is on the rise. Businesses throughout the UK are beginning to feel the pressure to be more accommodating to consumers that want to make purchases using their mobile devices, thus creating more opportunity for SumUp.

Card reader could be a big hit with businesses

SumUp has developed a card reader that can be connected to smart phones and facilitate mobile payments. SumUp believes that the card reader could be a boon for small businesses who see traditional point of sale terminals as expensive investments. The card reader would enable these businesses to process purchases made using a credit card using a simple mobile device rather than a static payment terminal.

Growth of mobile commerce presents powerful opportunity for SumUp

SumUp has chosen Diffusion for this initiative because the agency has extensive experience in the various markets within the UK. Mobile commerce is on the rise throughout the country, and SumUp is keen to establish powerful ties to companies that can help it reach a new generation of mobile consumer. The company will have to face down some strong competition coming from Square, Orange, and even Google, if it wants to find success in this expanding industry.