Tag: taiwan mobile commerce

Mobile commerce thrives in Taiwan despite security concerns

MIC shows that mobile shopping is gaining ground among consumers

With the rise in smartphone ownership, mobile commerce is expected to become more prominent in Taiwan, despite the security concerns that many consumers and businesses still have. According to the Market Intelligence & Consulting Institute (MIC), many consumers in Taiwan are beginning to show favor for mobile shopping, which is accelerating the growth of the e-commerce space by a considerable margin. MIC notes that nearly 70% of online users in Taiwan have spent more on mobile shopping than through traditional e-commerce.

Security worries are not slowing the adoption of mobile commerce

While consumers are becoming more interested in mobile commerce, they are still concerned about the security of their financial information. Mobile shopping leverages this information to conduct transactions online in much the same way that e-commerce transactions are processed, but consumers see mobile platforms as less secure than others they may be more comfortable with. In the past, retailers engaging in mobile commerce have been targeted by malicious groups, which has lead to the financial information of many people being compromised. Despite this, however, mobile commerce continues to flourish, with Taiwan on its way to becoming a prominent market.

Consumers are happy with their mobile shopping experiences

Mobile Commerce - Person with SmartphoneA recent survey from MIC shows that the number of consumers that have participated in mobile shopping reached 62.5% at the end of 2014. Approximately 61.5% of these consumers noted that they had a positive experience with mobile shopping, and these people are more likely to use their mobile devices to shop for and purchase products in the future. Of the features that consumers like about mobile commerce, the ability to shop anywhere and at anytime, the convenient nature of mobile shopping, and the deals consumers can take advantage of are among the most attractive.

Taiwan’s mobile commerce market expected to continue thriving

Mobile commerce is expected to continue growing in Taiwan as more consumers gain access to mobile devices. Businesses are also beginning to take more interest in mobile commerce as they look for more effective ways to engage mobile consumers. Taiwan is emerging as one of the region’s most powerful mobile markets, and security concerns about mobile commerce are doing little to slow growth.

New mobile payments service emerges in Taiwan

Country’s largest mobile payment company has launched

A new competitor has emerged in the mobile commerce space. Taiwan Mobile Payment Co., which is now Taiwan’s largest mobile commerce platform, has officially launched with the support of 32 of the country’s major financial institutions. The platform supports NFC-based mobile payments, allowing consumers with smartphones and tablets to make payments in physical stores that have NFC-enabled point-of-sale systems installed. The new platform may be welcome among consumers that have been looking for a new mobile payment service for some time.

New platform will leverage NFC technology to process payments and has strong support from Taiwan’s financial institutions

The mobile payments being made through the new platform will be processed through Taiwan Mobile Payment’s trusted service manager. This system will secure the financial information being used by the platform to authenticate payments. The platform will also support payments made through Visa and MasterCard and can be used to make purchases at more than 30,000 stores throughout the country. The platform also has strong support from various financial institutions, making it more accessible to a wide range of consumers.

Taiwan continues to grow as a prominent mobile commerce market

nfc mobile paymentsTaiwan is quickly becoming a very prominent mobile commerce market. Two other services have already emerged in the country, but consumers have been demanding a larger, more capable service for some time. Currently, Taiwan Mobile Payment is the largest mobile payment service provider in Taiwan and has been accredited by both Visa and MasterCard.

New service relies on NFC technology in order to facilitate mobile transactions made from devices equipped with NFC chips

The new mobile commerce platform is expected to work with 20 different smartphone models, most of which are Android devices. These devices are equipped with NFC technology, allowing them to interface with payment platforms that also use this technology. NFC currently makes up much of the backbone of the mobile commerce world. Some payment services have opted to avoid using NFC technology to make their platforms more accessible to those that do not have NFC-enabled mobile devices.