Tag: us mobile commerce

Mobile commerce begins colliding with BitCoins

| May 21, 2013

Bitcoins Mobile CommerceBitCoins could have a bright future in mobile commerce

Virtual currency is gaining more popularity as consumers become more reliant on technology. BitCoins are considered the most popular of the virtual currencies that are currently available. These digital coins are exceedingly valuable, with a single coin being worth more than $240 at the height of its value. Virtual currencies are quite useful in the realm of mobile commerce, but they represent a certain risk in terms of a country’s economy because they are not strictly regulated like other currencies.

US agencies consider virtual currency threatening

The U.S. Department of Homeland Security considers BitCoins to be a serious threat. This currency is often used to purchase regular products from outlets like Amazon and eBay. BitCoins can, however, be used to purchase goods off the black market and are one of the ideal currencies in the drug trade. The federal agency recently seized the assets of Mt. Gox, the world’s largest BitCoin exchange, but this has done little to draw attention from the mobile commerce prospects of this currency.

BitPay aims to make BitCoins more mobile

BitPay, a relatively new startup focused on virtual currencies, has recently launched a new mobile commerce service. The company has announced that it has raised more than $2 million in funding for this initiative and aims to have it available to consumers in the near future. The new service will allow consumers to use BitCoins in a mobile commerce setting, offering consumers a way to use this currency on their mobile devices. BitPay believes that it is only a matter of time before BitCoins become as popular as email.

Mobile commerce may benefit from virtual currencies

BitPay has been in business since 2011, but the company has been relatively secretive since its founding. BitPay offers legal services that are often frowned upon given the association that BitCoins have with illegal activities and products. BitCoins themselves are not actually illegal in any way and have been gaining a significant amount of attention in the mobile commerce field as a way to encourage consumers to purchase products through their mobile devices.

Mobile commerce becoming dominant in US retail

| May 19, 2013

U.S. mobile commerce gaining ground in retailConsumers begin growing more interested in mobile commerce

Consumers are becoming increasingly mobile. That does not mean that they are moving around more often; it means that mobile technology is beginning to play a very important role in their daily lives. This trend has become most apparent in the shopping behavior of consumers, who are beginning to rely more heavily on their smartphones and tablets to make purchases. Mobile commerce is on the rise, and it may soon replace traditional retail due to the convenience it offers consumers.

Report shows that consumers are spending more time on mobile shopping

comScore, a leading market research firm, has released a new report titled “State of the U.S. Online Retail Economy Q1 2013.” As the name suggests, the report details the trends that exist as well as those that are emerging in the retail industry of the U.S. The report shows that mobile commerce has begun gaining significant momentum as more consumers begin to favor their smartphones and tablets for shopping online.

Mobile shopping has become an overwhelmingly popular pastime

According to the report, the time that consumers spent in online retail rose by 104% in February of this year over the levels it had been in February of 2010. Consumers spent a cumulative total of 34.9 billion minutes in online shopping, the vast majority of which was devoted to shopping through mobile devices. The report suggests that mobile commerce has become a powerful force in the U.S. retail sector, driving many companies to develop and utilize their own mobile commerce services in order to appeal to consumers.

Smartphones trump tablets when it comes to mobile commerce

The report also shows that smartphones continue to be more popular than tablets when it comes to mobile commerce. As of March 2013, 34% of the time spent by consumers in online shopping came from smartphones, where 14% came from tablet devices. Tablets are gaining some momentum in mobile commerce, however, as they garner acclaim for their larger screens that allow for better navigation and a more enjoyable shopping experience.