Google reports that mobile payments have become a powerful force in Vietnam due to smartphones ownership
Mobile commerce is exploding in Vietnam, according to a new report from Google. The company’s Vietnamese branch has found that there is a major shift in consumer behavior due to the growing availability of mobile devices. According to the report, mobile consumers in the country pick up and look at their devices an average of 150 times a day, or more than 10 times every hour. Notably, these consumers are becoming more interested in the concept of mobile commerce, which allows them to shop for and purchase products they are interested online and in physical stores.
Consumers are becoming more comfortable with the idea of mobile shopping
The growing availability of mobile devices has lead to the mass adoption of mobile payments throughout Vietnam. Google Vietnam is currently very optimistic of the mobile commerce market in the country and believes it will continue to grow in the years to come. This may be good news for the company, which has been working in the mobile payments space for several years. In the future, Google may opt to bring its own payment services to Vietnam in order to take advantage of the growing market.
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MasterCard report shows that more consumers are beginning to use their devices to purchase products
Another report from MasterCard as found that 51% of Vietnamese mobile consumers made purchases using their smartphones in 2015. This represents a 45% increase over the mobile shopping that was reported in 2014. Mobile shopping is particularly popular among youger consumers, many of whom already have a great deal of comfort with mobile technology and shopping online. MasterCard has predicted that mobile shopping will continue to grow in popularity throughout Asia in the coming years.
Vietnam may help influence the evolution of mobile commerce in Asia
Vietnam is just one market where mobile shopping is becoming a very powerful force. China is currently considered one of the world’s leading mobile payments markets, but countries like Thailand and Vietnam are growing rapidly in the sense of mobile commerce support. These countries may play an influential role in the further development of mobile commerce throughout Asia as their markets continue to grow.