mobile commerce Archives

Digital wallets could prove very expensive for conventional banks

01/09/202301/07/2023 Jorge Gonzalez

As these payment apps and services grow in number and use, banks could lose out on billions in transactions. Consumers worldwide are increasingly using digital wallets to complete transactions both online and while in-store shopping, which means that banks stand to lose out on billions in transactions that would traditionally have belonged to them. What has yet to be seen is if those banks will pivot to keep up with their primary online competition. As digital wallets such as PayPal, Apple, and others are adopted at a rapid rate in…

M-commerce sales to double by 2025, reaching over $700 billion

05/16/202205/13/2022 Jorge Gonzalez

An eMarketer study predicts that smartphone-based sales will continue their skyrocketing rate. Back in 2020, m-commerce sales took off by 41.4 percent, continued their growth last year and are expected to continue on that path throughout this year as well, according to a recently released eMarketer report. Mobile shopping was already rising fast but the pandemic spurred things on even faster. According to the report, m-commerce sales are expected to see another 15.2 percent growth rate this year, bringing them to the $359.3 billion by the close of 2022. The…

By 2025 mobile commerce sales will pass $700 billion

08/17/202108/16/2021 Sam Lambert

Mobile commerce sales - pennies on top of phone

A new eMarketer report has shown that last year saw 41.4 percent growth over the year before. Mobile commerce sales have reached the point that they are absolutely explosive, to the point that they will be doubling by 2025 according to eMarketer data. Last year saw a growth rate of 41.4 percent, and this year’s is expected to be 15.2 percent, which will bring it to $359.3 billion. People have become exceptionally comfortable with shopping online using their smartphones. “Smartphones have historically been primarily consumption devices, but they’re becoming much…

Social and live stream commerce rose by 45 percent last year

02/23/202102/23/2021 Sam Lambert

Social platforms and real-time video drove a massive spike in shopping via apps in 2020. Social media and live stream commerce positively exploded last year, as the pandemic greatly changed the way people communicated and shopped, says new App Annie data. Many countries newer to m-commerce experienced even higher increases in their app-based shopping. According to new data, global time spent shopping via apps (not including China), rose by 45 percent in 2020 when compared to the same figures for 2019. Many countries that hadn’t previously adopted mobile commerce as…

Biometrics use could explode by 2025 due to m-commerce

02/16/202102/12/2021 Jesse Collins

The tech may not be perfect, but it is solid and provides considerably greater user convenience. Biometrics use is expected to skyrocket in popularity over the next handful of years as a result of the widespread adoption of mobile commerce. According to data in a recent Juniper Research report the mobile security tech could peak as soon as 2025. The use of fingerprints and facial recognition for identity verification rose by 650 percent in 2020. As the pandemic sent millions of people worldwide to do their jobs remotely, the use…