The Shift Towards Mobile Purchasing

Does your Website offer a way to purchase your products without the consumer walking in your door?  Does your Mobile App have a Storefront?  According to Pew Research, roughly 8 out of 10 Americans shop online.  With 51% regularly using their mobile device to do their shopping.

Other key findings from Pew Research are:

• Mobile payments users—consumers who have made an online or point of-sale purchase, paid a bill, or sent or received money using a Web browser, text message, or app on a smartphone—are more likely than nonusers to be millennials or Generation Xers.
• Making a purchase through a smartphone Web browser or downloaded app is the most common mobile payments activity.
• Consumers see a number of benefits to using mobile payments, particularly receiving alerts, electronic receipts, rewards, discounts, and help with budgeting.

The definition of Mobile Payments according to Wikipedia:

Mobile payment (also referred to as mobile money, mobile money transfer, and mobile wallet) generally refer to payment services operated under financial regulation and performed from or via a mobile device.

A recent Pew Research article states – Mobile Payments enable consumers to make financial transactions using their smartphones via a website, by sending a text message, or through an app. This technology, in turn, relies on many other consumer products and services, including credit, debit, and prepaid cards; wireless carriers; and nonbank providers such as Apple, Samsung, Google Wallet, and PayPal.

Research predicts that mobile payments in the U.S. will grow at an overall 22 percent compound annual rate through 2019.  These products and services have the potential to provide consumers with greater convenience and lower costs when managing their money.  Mobile payments may be especially useful to those without a bank account (the “unbanked”), one-third of whom have a smartphone, by offering these customers savings, money management, and transaction services that are not otherwise available to them. – Taken from “Who Uses Mobile Payments” Pew Research

Whether it’s setting your company up to take digital wallet payments from in-store customers or setting up an e-commerce website or app, we have the solutions that you are looking for.