Tag: us mobile commerce

Some consumers will be avoiding mobile commerce during the holidays

| November 27, 2015

Survey finds that consumers are still not convinced that mobile commerce is the best solution when shopping

The holidays are here and consumers are expected to begin using their mobile devices to get their shopping done. This may not be the case for everyone, however, according to a new survey from Bankrate.com. The survey found that while consumers are interested in the concept of mobile commerce, they are not necessarily interested in using their smartphones and tablets to complete a purchase. Some have reported that they are not convinced that mobile payments apps are able to keep their information secure enough to feel comfortable with making a purchase.

14% of US consumers expected to use mobile payments apps

The survey from Bankrate.com has found that only 14% of consumers in the United States said that they will be using mobile wallets to make payments during the holiday season. Of those avoiding mobile payments, 36% reported that they are not comfortable with the level of security that can be found in the mobile commerce space. Security has been a problem for this market for some time, with many consumers reporting concerns regarding the safety of their financial information. Another 31% said that other payment methods were simply more convenient than what mobile commerce has to offer.

Consumers likely to continue using their mobile devices to conduct research on products

Mobile Commerce - Shopping MallConsumers do remain interested in mobile commerce despite their security concerns, of course. Many are likely to use their mobile devices to research products before they make a purchase. This allows shoppers to find better deals or take advantage of special offers coming from certain retailers. When it comes to actually making a purchase, however, the survey from Bankrate.com found that the majority of shoppers prefer to pay with cash, with approximately 30% of consumers preferring to pay with their debit cards.

Retailers could see success by engaging mobile consumers with secure and convenient services

Over the past few years, the mobile commerce market has experience strong growth on the back of the holiday shopping season. This year, retailers are expected to see similar results, especially if they have begun growing more mobile-centric over the past several months. They will, of course, have to ensure that consumer information is kept secure if they want to find any success in the mobile commerce field.

European mobile payments firm is coming to the US

| September 4, 2015

Klarna announces partnership with Overstock.com

Klarna, a mobile payments firm based in Sweden, has made its first U.S. deal by partnering with Overstock.com, an acclaimed online retailer operating in the country. This partnership brings more competition into the mobile commerce space and places Klarna in conflict with PayPal and other companies that have worked to establish a foothold within the growing market. The partnership will also allow Overstock.com to better engage mobile consumers as well, providing the company with a way to support those shopping with their smartphones and tablets.

Firm continues to see success in providing a convenient way to purchase products online

Klarna has helped retailers embrace the mobile payments space for several years. The firm allows retailers to take advantage of convenient payment systems that only require an email and shipping address. Shoppers will then receive an email regarding the transaction they wish to make. In cases where shoppers have a high credit score, they are able to pay for a product when it is shipped rather than during the initial checkout process. In this way, Klarna actually pays the merchant for the product being purchases, with consumers then paying Klarna.

Klarna generates $300 million in revenue last year

European Mobile Payment Firm heads to USALaunched in 2005, Klarna now accounts for more than 52 million users. It is currently used to power mobile payments for some 55,000 online retailers operating in Europe. The firm is also backed by a banking license in Europe due to it providing some consumers with credit when shopping online. Last year, Klarna reported $300 million in revenue. Approximately 10% of all e-commerce transactions made in Europe are made through the use of Klarna.

More competition in the mobile payments space will give consumers better options

As mobile payments continue to grow in the U.S., the country is becoming a more attractive market for those that have already established a presence in other countries. Klarna sees some promise in the mobile commerce space and intends to establish a foothold in the U.S. Klarna may succeed in bringing more competition to the mobile payments space, forcing other companies to offer better services.