How Mobile Technology is Important for Payments and Commerce

The payments and commerce industry has witnessed a paradigm shift due to increased mobility of people with the proliferation of smartphone and tablets. A good portion of mobile device owners regularly use their smartphone for shopping. In 2013, more than 90% of smartphone users’ accessed e-commerce sites through their mobile handsets. That’s compared with the 78% percent of desktop web users that accessed e-commerce sites. And Ecommerce is just $1 Trillion to $1.5 Trillion industry whereas purchases at Physical stores are a 10-15 times bigger industry in size. Now Mobile Technology is enabling powerful solutions to do proximity payments and solving issues in retail transactions.

The use of smartphone and tablet is not just limited to m-commerce. In industries such as household items, apparel, and pet care, more than 70% of smartphone shoppers use their phones in-store to help with shopping. In fact, two-thirds of baby product shoppers compare prices on their phones in-store. Currently consumers have product detai ...

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