Designing the m-commerce world on a foundation of e-commerce the social market

Mobile Commerce

Mobile Commerce
It doesn’t come as a surprise to anyone anymore that consumers are using the internet, social network platforms, and even mobile channels to help make decisions regarding products and services that they wish to purchase, and to actually execute those transactions, but the fact is that this behavior is continuing to climb.

Recent research is indicating that more than 50 percent of purchasing decisions were in some way researched online in some way either on computers or mobile devices. This change in the behavior of consumers has had significant impact on the payments sector, which is an industry that sees an annual revenue of more than $900 billion worldwide.

The size of this industry has not gone unnoticed, and new payment applications are joining the marketplace to help to take advantage of the fact that there is now an opportunity to challenge the current leading traditional providers. That said, getting in early won’t necessarily mean dominance in this new era of payments. While that is an important part of the mix, payment products and services must be carefully and properly designed to take into account the behaviors and expectations of the mobile consumer and merchant.

Consumers want a payment service that will allow them to make payments no matter where they are, regardless of whether or not they are actually within a brick-and-mortar shop or if they have cash or a credit card handy.

On the other hand, merchants are trying to find solutions that are simple to implement, uncomplicated so that they won’t cause problems with use, and that will integrate well with the other payment methods they already accept. Many merchants still aren’t even online, making the mobile jump quite a large one. They need options that will work with their point-of-sale terminals.

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