The definition of “mobile payments’ being used by the firm is extremely expansive. Hence the large number. Gartner said that it expects “Web/WAP access to account for about 88 percent of total transactions in North America and about 80 percent in Western Europe by 2016. Near Field Communication (NFC) transactions will remain relatively low through 2015, although growth will start to pick up from 2016.” If that’s right it spells trouble for Google’s NFC-based Wallet, which has been struggling for consumer adoption. Under the “mobile payments” heading, Gartner’s forecast includes a range of transaction types that are distinct. It includes “m-commerce,” mobile bill paying, SMS money transfers and mobile wallet-type in-store transactions. Is a “one click” purchase transaction on the Amazon mobile app a “mobile payment”? Or should the notion be limited to the concept of mobile wallets, where the phone … [Read more...] about Analyst Firm: $172 Billion In Mobile Payments This Year
The question is how long will it take for mobile payments to take hold? Google Wallet, for example, is moving at a glacial pace in terms of consumer adoption. Earlier this year mobile industry consultant Chetan Sharma conducted a 2012 predictions survey among “executives, developers, and insiders (n=150) from leading mobile companies and startups from across the value chain.” Mobile payments was the “breakthrough” mobile category identified in the survey. However it’s very unlikely that 2012 will in fact be a breakthrough year. It’s also unlikely that 2013 will see widespread adoption of mobile payments. It will probably take several years for mobile payments to gain mass consumer traction. A new survey of a semi-random assortment of “experts and other Internet stakeholders,” by the Pew Internet & American Life Project, finds that a majority (65 percent) of respondents agree with the statement that by 2020 “most people will … [Read more...] about How Long Before Mobile Payments Are Mainstream?
In the same way that Apple redefined and accelerated the development of the smartphone market with the iPhone in 2007, Google Wallet marks the beginning of the mobile payments era. Google is certainly not the first company operating in the sector, and it might not turn out to be the leader. But with last week’s announcement, Google has helped to bring new coherence and focus to the otherwise Darwinian and chaotic landscape of mobile payments. Let’s Review the Google Wallet Announcement What do we know about Google Wallet so far? Phones: Google Wallet will work with the Android Nexus S (via Sprint in the US) — and, through a NFC-enabled sticker, on potentially all smartphones (more on that below). Cards: The program will work with Citi MasterCard, a pre-loaded Google Prepaid Card (which can be “refilled” from any source of funds) and gift cards from various participating merchants. Google wants all payment, gift and loyalty cards to work with the system … [Read more...] about With Google Wallet Mobile Payments Era Is Finally Here
As the adoption of smartphones increases, consumers are becoming comfortable using their smartphones and tablets to buy goods, transfer money and perform many different kinds of financial transactions. According to Google’s Our Mobile Planet: United States, penetration is currently 44% of the U.S. population, and 66% access the Internet daily. Retailers can engage these always-connected consumers by adopting a mobile strategy that includes having an optimized mobile storefront and a mobile payment system. Optimized Mobile Storefronts Because mobile deviceshave changed consumer behavior, especially the way consumers shop, having an optimized mobile storefront becomes critical for engaging consumers across the many different paths to purchase. We explained the benefits of mobile storefronts in How To Boost In-Store Traffic & Sales By Optimizing Your Mobile Storefront For Local SEO. Mobile Payments In addition to optimizing for local search, it is also necessary to be prepared … [Read more...] about Closing The Loop From Mobile Search To Mobile Payment Systems
We don’t have to be in the thick of the hectic shopping season to know how important online purchases are. It’s a booming industry throughout the entire year. And, it’s a vital part of your business. If you’re not able to make electronic sales, how can your online business survive? Without being able to receive payments electronically, your top notch site and high-ranking would be for nil. Today, this shouldn’t be an issue. It’s relatively easy to collect payments for goods and services from anywhere in the world via payment service providers. With so many online payment solutions out there, though, which ones can you trust for that all important credit card, bank transfer, or real-time orders? Here are our 10 best selections. WooCommerce WooCommerce allows WordPress users to create their very own e-commerce shop. There are several neat features that make this payment processor worth your time. Besides being vendor and customer friendly, you can run … [Read more...] about The 10 Most Popular Online Payment Solutions