you think mobile transactions are just a fad, consider that Starbucks
generated over $1 Billion from Mobile Transactions in 2013. These
are in-store transactions that Starbucks customers completed by using
their phones at the register.
The Business Insider estimated
that mobile transactions accounted for over $30 Billion in 2013.
Also, according to a recent
study, 32 percent of all online sales were made over mobile devices
between November 2013 and January 2014. This figure is only going to
grow. Connectivity has changed the way consumers shop and interact
with retailers and banks,
One major challenge today - The ease with which customers can pay for purchases. This is absolutely key to the success of shopping on mobile devices. Having to enter too much information or copy out card details on the move is cumbersome and off-putting for most people, meaning transactions are often abandoned. Shopping cart abandonment is one of the major issues merchants are facing when it comes to mobile transactions. Happy shopping everyone!