Tag: us mobile commerce

Mobile payments gain momentum in the US

| November 4, 2013

Smartphone users in the US adore mobile payments

The Credit Union National Association has released the results of a new survey that show mobile payments are gaining ground in the U.S. Mobile payments have been growing more popular among consumers for the past few years, but exactly how popular this new form of commerce has become is an oft debated topic. Many people favor the convenience associated with mobile payments, but have concerns regarding the safety of their financial information. The new survey aims to shed some light on the issue.

More than half of smartphone users participate in mobile commerce

According to the survey, more than half of smartphone users in the U.S. have made mobile payments. The survey defines mobile payments as any transaction made with a mobile device and shows that the majority of people making mobile payments praise the convenience of being able to purchase products from their smartphones. The majority of those making mobile payments spend more than $30 on average per purchase, suggesting that people are more willing to spend money when participating in mobile commerce.

U.S. Mobile Commerce on the riseSecurity remains a top concern for many consumers

Security remains a major concern for those interested in mobile payments. Some 77% of respondents claimed that the security of their financial information was a top priority. Security concerns often determine whether a person will make a mobile payment or not and the survey suggests that most consumers tend to be cautions when it comes to spending money through a mobile device.

Consumers expected to grow more interested in mobile payments over time

Despite the concerns surrounding mobile commerce security, more consumers are showing an interest in shopping online. The availability of mobile Internet access has made it easier for consumers to shop online using the smartphones and tablets, thereby exposing them to mobile commerce initiatives coming from retailers and other businesses. Consumers are expected to continue growing more fond of mobile payments as better services become available to them, especially if these services can help placate fears regarding security.

US Bank teams with Monitise to make a move on mobile payments

| October 15, 2013

Mobile payments platform planned through new partnership

Mobile payments firm Monitise has announced its partnership with U.S. Bank, one of the leading financial service firms in the United States. Together, the two organizations will launch a new mobile payments platform and encourage consumers to become more accepting of mobile commerce. Consumers have been growing more interested in mobile payments, but relatively few people are comfortable with managing money on their mobile devices, largely due to the security concerns they have regarding their financial information.

Companies plan to engage consumers through the mobile space

U.S. Bank is no stranger to the concept of mobile payments. The bank has been working to grow more accommodating to mobile commerce in recent years in order to better serve the needs of its customers. The bank has introduced many services that allow customers to manage their accounts from their mobile devices, but its new partnership with Monitise is expected to take its mobile commerce endeavors to a new level. Monitise has extensive experience when it comes to mobile payments and may be able to help U.S. Bank establish a more formidable presence in the mobile space.

Mobile Payments partnershipProject to receive support from Nellymoser and Digimarc

Specific details concerning the platform Monitise is developing for U.S. bank have not yet been released. The platform is expected to cover product discovery, selection, and instant checkouts, however. The project will also receive support from Digimarc, a digital identification specialist, and Nellymoser, which specializes in mobile marketing and digital media. Backed by such strong support, the mobile payments platform is expected to garner a significant amount of attention from consumers.

Bank intends to be a leader in mobile payments

U.S. Bank has a strong interest in establishing itself as a leader in the mobile payments space. The bank will have to compete in a crowded arena, however, filled with companies that have already established a strong foothold in the sector. Monitise is well versed in this competition, of course, and may be able to help U.S. Bank achieve its goals in the mobile commerce field.