The year ahead may be bright
With 2013 over, mobile commerce faces a new year that may be full of promise. Those investing in the mobile commerce certainly have high hopes for 2014 and executives from prominent mobile organizations have begun to provide their predictions concerning the year ahead. Many believe that mobile commerce will reach new heights as consumers and businesses alike become more comfortable with the prospect of mobile shopping. Others note that caution should be exercised in order to avoid the security pitfalls that were seen in 2013.
Braintree anticipates more mobile activity
Bill Ready, CEO of Braintree, which was recently acquired by eBay for $800 million, believes that the time people spend on their mobile devices will continue to grow throughout 2014. By the end of 2014, Ready suggests that mobile conversion will skyrocket as businesses form a better understanding of mobile payments and how consumers want to shop online from their devices.
US consumers may become more comfortable with online shopping
Guy Goldstein, CEO of Check, predicts that the majority of U.S. consumers will have made at least one mobile transaction. New partnerships between prominent mobile commerce entities are also likely to sprout in 2014 as companies begin realizing they are offering the same services as one another. These partnerships may help dispel some of the oversaturation of the market and establish new leaders in the mobile commerce space.
Square expected to dominate US market
Many anticipate that Square will emerge as the leader of the U.S. mobile commerce market. T he company has already established a commanding presence in the mobile space, but faces competition from others, such as eBay and Monitise. While companies like Square have proven they can offer attractive services, what may end up determining whether a company is successful in the mobile commerce space is whether or not they can protect the financial information of consumers.