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According to ABI Research, U.S. M Commerce in 2011 will reach $5 billion
in sales and account for almost 2 percent of total eCommerce. And many
merchants expect greater than 2 percent of their eCommerce sales will
come from mobile in the near future.
That’s a fast track. And with mobile sales projected to hit $163 billion, or
nearly 12 percent of all global eCommerce, by 2015, your business has
more opportunities than ever to profit from mobile payments.
in sales and account for almost 2 percent of total eCommerce. And many
merchants expect greater than 2 percent of their eCommerce sales will
come from mobile in the near future.
That’s a fast track. And with mobile sales projected to hit $163 billion, or
nearly 12 percent of all global eCommerce, by 2015, your business has
more opportunities than ever to profit from mobile payments.
Where it might go in the future?
It seems that there are as many opinions on the current direction of the
mobile market as there are merchants. To be brief, let’s cite one major
mobile market trend called “location-based shopping” in the synthesis of
consumer behavior, technology, and payments.
In this approach, customers use their web-enabled smartphones while
shopping in physical stores to look up price comparisons and read shopper
reviews online before deciding to buy in-store items.
This means that merchants may now develop a mobile website or app to
help customers make more informed point-of-sale choices and profit by
sharing various real-time promotions with them.
In support of this consumer interest, key emerging technology involves
mobile phones with embedded microchips that can facilitate local, in store
“contact less payments.” Essentially, once a customer decides to buy
an item in the store, she can also pay for it with her smartphone at the
physical store checkout.
While the potential for mobile contact less payments is huge, to develop
this capacity, such chips must be embedded in a wide range of mobile
handsets, and merchants must have readers installed at the point of sale
on a wide scale.
That, of course, is part of the biggest mobile market challenge today, as
there remains much open debate on the matters and means of such technology
adoption.
Of course, payment processors like PayPal Mobile must also provide relevant
tools and keep pace with trends for the entire mobile market system
of consumers, technology, and payments to work. And consumers must
see the ongoing value and dependability of mobile shopping.
mobile market as there are merchants. To be brief, let’s cite one major
mobile market trend called “location-based shopping” in the synthesis of
consumer behavior, technology, and payments.
In this approach, customers use their web-enabled smartphones while
shopping in physical stores to look up price comparisons and read shopper
reviews online before deciding to buy in-store items.
This means that merchants may now develop a mobile website or app to
help customers make more informed point-of-sale choices and profit by
sharing various real-time promotions with them.
In support of this consumer interest, key emerging technology involves
mobile phones with embedded microchips that can facilitate local, in store
“contact less payments.” Essentially, once a customer decides to buy
an item in the store, she can also pay for it with her smartphone at the
physical store checkout.
While the potential for mobile contact less payments is huge, to develop
this capacity, such chips must be embedded in a wide range of mobile
handsets, and merchants must have readers installed at the point of sale
on a wide scale.
That, of course, is part of the biggest mobile market challenge today, as
there remains much open debate on the matters and means of such technology
adoption.
Of course, payment processors like PayPal Mobile must also provide relevant
tools and keep pace with trends for the entire mobile market system
of consumers, technology, and payments to work. And consumers must
see the ongoing value and dependability of mobile shopping.
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