Mobile commerce and global economic crisis

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New report provides insight on the role mobile commerce may play in economic calamity

Mind Commerce, a market research and analysis firm, has released a new report concerning the role that mobile commerce plays in the event of economic crisis. Mobile commerce has evolved at a rapid pace, due partly to the high level of support it has garnered from governments, technology companies, and financial institutions. Today, the industry holds a strong presence throughout the world and its reach is expected to grow as more consumers become savvy with mobile payments. Mind Commerce suggests that the mobile commerce industry may be poised to provide some stability in the event of a global economic disaster.

Interconnectedness may lead to serious problems

The firm’s report, called “The Future of Mobile Payments: Continuation of Commerce during Global Economic Crisis,” highlights the interconnectedness that is taking root in the financial world. Banks are becoming more entangled with one another, which has provided them with access to the resources they need to navigate increasingly complicated and hostile economic climates. While this interconnectedness has provided a sleuth of benefits, it has also created a serious problem. The report suggests that the failure of one bank could send disastrous ripples through others that it is connected with.

Mobile commerce may be poised to provide stability in crisis

Mobile commerce may be able to stave off the more cataclysmic aspects of a global economic crisis as it would allow commerce to continue largely unaffected by outside factors. Mobile payment systems would allow consumers an avenue to continue exercising their economic power and could keep these consumers connected with the businesses they favor. The report examines the effect mobile commerce and its various systems may have in such an event and provides insight on the emerging commerce systems that may fortify the world from global economic collapse.

Economic problems begin attracting more serious attention

The ongoing economic crisis in Europe has brought attention to the prospects of such an event on a worldwide scale. The economic crisis of 2008 exacted a heavy toll on the U.S. and many other countries, the effects of which are still being felt. Back then, mobile commerce was still in its infancy, but the industry and its various aspects have matured significantly since then.

For more information: http://www.mindcommerce.com/Publications/MobilePaymentsCommerceContinuity.php

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