by Ty Hardison

Study: Almost 4 times as many consumers have access to mobile phones than computers

According to a study their are upwards of 7 billion mobile phones being used in the world. There are around 6.5 billion mobile phones currently in use around the globe. That comes from a recent United Nations study and it shows why the possibilities of mobile commerce and those that are pushing the technology are so high.With that many mobile devices in the hands of consumers, it is easy to see why the payment industry is on the verge of evolution and why many startups are trying to take advantage with new applications, peripherals and payment solutions.An International Telecommunications Union study found that 3.8 times as many people in the world are exposed to mcommerce as to computers and online shopping from them. Diving deeper into the numbers shows some interesting statistics.Of all consumers, the younger generation is the most prolific for mobile devices as almost … more

Shopping moms a key cog in the future of mobile commerce

According to a new survey, shopping moms are pushing mcommerce adoption. Earlier this month, we covered a survey that found that those of the younger generation, specifically college students, are embracing mobile commerce technology. The study found that 90 percent of respondents have used their smartphones or tablets to search for deals or coupons when they shop.Now, according to a recent study by eMarketer, a group that is normally not thought of as trendy is helping to lead the push of mcommerce. That would be shopping moms.According to the report, 70 percent of American mothers use a mobile device in some way when they shop. Furthermore, 33 percent said they spend at least half of their shopping time on their smartphone or tablet.The study also examined what kind of applications moms are downloading on their mobile devices. Topping the list were … more

Tablets on the retail floor helping to evolve the retail experience

Tablets are set to revolutionize the retail sector. There are few devices that have changed the way businesses operate like tablet computers. When Apple kickstarted the industry in 2010 with the introduction of the iPad, no one would have been able to see the reach that the technology would have.Many different sectors of the corporate world have incorporated the tablet and any number of corresponding mobile applications into daily operations. A recent Resource Nation article examined how one specific market, retail, has been able to improve productivity and the customer experience because of the device."From easier checkout and better customer service to mobile POS apps, the benefits of tablets to your store and your customers are innumerable," reads the article. "If you're not sure where to get started, … more

Mobile wallet gains support from major payment industry players

The mobile wallet is poised to become the future of payment options. Last week at Harvard University a number of payment industry executives came together as part of the Innovation Project 2013. At the summit, a number of potential future technologies were debated but one thing was almost universally agreed upon - paying with your smartphone.At the event, some of the world's largest financial institutions and payment leaders like MasterCard and PayPal and dozens of tech start-ups like Scvngr were on hand to throw their support behind the mobile wallet. While the idea of using a smartphone application to make a payment is not new, the traction it is gaining with consumers is, and companies are ready to grab a portion of this emerging market.Will Graylin, the founder of a new mobile payment start-up ActPay, said during a presentation at the … more

NFC adoption remains slow in U.S.

NFC chip adoption is still slow, despite years of hype. It seems that for the last few years, the "next big thing" in the payment industry was the inclusion of near-field communication (NFC) chips. It has been talked about by the credit card, ATM and smartphone industries, but so far the years of hype have not lead to actual adoption in the United States.In other markets like Canada and Europe, NFC and EMV (Europay, MasterCard and Visa) - a form of chip card technology - have become widespread. According to a recent article in TechWorld, despite the push by banks, retailers, mobile operators and device manufacturer to get NFC mainstream, consumers have not been given the devices to make it possible.Back in early September of last year, the rumored features for the latest iPhone 5 were rampant. One piece of speculation … more

Retail to be first EMV adoption shoe to drop

Required EMV adoption will effect retail card transactions first. The adoption of EMV technology is a topic that will be making a lot of headlines over the coming months and years. MasterCard and Visa have laid out several deadlines that span from April 19 this year to October 2015 and the payment, banking and ATM industries to name a few, are starting to worry.In a recent ATM Marketplace article, Mark Smith - the vice president of an Kahuna Financial Solutions - examined the current state of EMV adoption across the entire payment industry and his findings can help merchants breathe a sigh of relief. According to Smith, EMV migration has already started in the U.S. and many institutions that support international travelers have the technology in use. On top of that, ATM providers have incorporated the system into machines in Canada … more

Latest Apple rumor confirms NFC technology for new iPhone

The latest rumors from Apple confirm the inclusion of NFC technology in the latest iPhone. One of the biggest blows to near field communication (NFC) chip adoption in the U.S. came last year when Apple unveiled the iPhone 5 and the feature was not a part of the hardware. Had a company with the influence of Apple backed the technology, a number of applications and solutions would be in the pipeline to take advantage of it. Instead, many in the payment industry were left disappointed.However, the latest report from MacRumors, could change things. Quoting Japanese blog MacOtakare as its source, the piece says that both NFC and a fingerprint sensor are confirmed features in the next hardware update of the popular smartphone."Apple will use the fingerprint sensor functionality to enhance the security of NFC features such as mobile payments," MacRumors said on its report. … more

Customer experience is crucial component to mCommerce

The customer experience will be key to the success of mCommerce. As every merchant is aware of by now, the use of mobile devices as part of a POS system is a trend that is not going away anytime soon. Major retailers like Apple, JCPenney and Walmart have incorporated mobile applications and devices into the standard checkout process and small boutiques are starting to add services like Square to improve the customer experience while keeping costs down.Despite the increased exposure of the technology, there is still a lot of ground to be covered before it can be considered the industry standard. During this year's Mobile World Congress convention, which was held at the end of February, business intelligence provider SAP surveyed 300 mobile industry experts about what the future could hold.According to the third annual survey, which … more

Study: 90 percent of college students use mobile devices to help them shop

According to a recent survey, 90 percent of college students use their mobile devices to help them shop. Head to any area populated by college-age people and you are guaranteed to see an abundance of mobile devices being used to handle a number of different tasks. From searching the internet to answering emails to comparing prices, it seems like smartphones have become ingrained into many daily decisions of the younger generation.According to a recent study by Study Breaks and Campus2Careers, this also extends to the mCommerce realm. According to the report, 90 percent of college students use their mobile device to search for deals and coupons when they shop.Of the 689 student respondents, 51 percent "always" or "often" consult their smartphones to see if there is a deal to be had before making a purchase. Only 10 percent responded "never." On top of … more

Study: mCommerce processing to reach $800 billion by 2016

As little as two years ago, the concept of mobile commerce or mCommerce, was foreign to major companies. While large enterprises have been aware of it for close to a decade, it was a pipe dream for many organizations. However, as the smartphone and tablet device and application markets have boomed, so too, have the mCommerce possibilities.According to a recent study by Ericsson mCommerce, by 2016, mobile commerce will process more than $800 billion globally. With this much money being handled on a yearly basis, the marketplace will need to evolve considerably over the next four years and new devices could emerge that change what mCommerce is all about.In a recent Mobile Commerce News article, Stephen Vagus spoke about how the marketplace has changed already. Specifically he … more