Mobile payments firm plans global expansion

Mobile payments in Singapore
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goSwiff aims for expansion following success in the mobile commerce market

Singapore mobile commerce firm goSwiff has announced that it has launched a global expansion initiative. The firm has managed to find significant success by working with banks and telecommunications companies in Singapore. This success has enabled the company to expand, allowing it to reach a greater number of consumers and work with more companies that are interested in the mobile commerce space. The firm has managed to edge out competition coming from other mobile payments service providers, establishing a stronger foothold in the competitive mobile market.

Firm provides its clients with services that can help them engage mobile consumers

The firm offers a variety of services to banks and mobile network operators. These services have helped these organizations acquire new merchant partners, many of whom have long held an interest in engaging the mobile audience. goSwiff has also enabled banks and mobile network operators to provide better services to their existing clients, especially when it comes to the mobile payments field. The firm operates its own payment platform, which is capable of turning nearly any payment terminal into a mobile point-of-sale system.

Mobile commerce market continues to experience healthy growth

Mobile payments in SingaporeThe firm expects to see strong growth in 2015. The Asia Pacific region has proven to be a very active mobile commerce market, with a large number of consumers using their smartphones to make purchases. According to a recent study from Gartner, the global mobile payments market is expected to reach $721 billion by 2017, in terms of payment volume. Timetric, a business information service firm, released a more optimistic study, suggesting that global mobile payments volume will reach $1,100 billion by 2017.

Competition may become more fierce in the global mobile commerce arena

Finding success in the global market may be difficult, as mobile commerce has become quite competitive. Apple has become one of the greatest sources of this competition with its new payment service. Samsung is also expected to bring more competition to the market with the release of its own mobile payments platform later this year.

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