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Consumers ready for a new generation of mobile commerce

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Mobile commerce is making progress with consumers around the world

SAP AG, a leading enterprise software company, has released a new study that suggests consumers are ready to embrace a new generation of mobile commerce services. The study was conducted in 17 countries and found that eight out of 10 consumers are asking for more mobile interactions with financial service firms, telecommunications companies, retailers, utilities, and other businesses. Mobile payments have become one of the most favored forms of commerce among these consumers, many of whom claim that making payments with mobile devices is convenient for them.

Study shows that consumers make use of a variety of services

The study suggests that consumers are beginning to use a wide variety of mobile commerce services with increased frequency. Many consumers have yet to settle on a single service that they favor over others, opting instead to make use of the multitude of services available to them. One of the reasons behind this trend is the fact that many mobile commerce services from banks are only available to customers of that particular bank. Another reason has to do with the fact that many mobile commerce services are based on NFC technology, which leads consumers to use services that do not rely on NFC in any way.

mobile commerce and NFC technologySecurity among the top concerns for consumers

While consumers may be clamoring for new mobile commerce services, the study shows that many people still have concerns regarding the security of their financial information. Mobile commerce has become very attractive to hackers and malicious parties looking to exploit financial information for personal gain. In some cases, hackers have been able to steal this information directly from mobile commerce platforms. Consumers are not only concerned with security, of course, as they have also expressed worries regarding the infrastructure capable of supporting mobile payments and the often dubious quality of their mobile Internet connection.

Mobile devices are used for more than just texting

The study notes that the majority of consumers (63%) use their mobile devices for much more than texting and calling their friends and families. Mobile devices have also become very popular gaming platforms. Smartphones and tablets are becoming powerful shopping tools, allowing consumers to find information on a variety of projects more easily than they could in the past. These devices are also helping consumers find the best deals of products they are interested in.

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