Mobile commerce depends on alternative payments

A survey by commerce solutions provider ShopVisible has found that 67% of consumers making mobile purchases choose to do so through alternative payments methods such as PayPal According to the study, which took 23,000 transactions into consideration over two months, only 33% of customers chose to pay by credit card. But when it comes to web-only transactions the results were reversed, with 62% of buyers choosing credit card as their preferred method of payment

A survey by commerce solutions provider ShopVisible has found
that 67% of consumers making mobile purchases choose to do so
through alternative payments methods such as PayPal.

According to the study, which took 23,000
transactions into consideration over two months, only 33% of
customers chose to pay by credit card.

But when it comes to web-only transactions the
results were reversed, with 62% of buyers choosing credit card as
their preferred method of payment.

In web-only transaction 12.9% of
consumers selected Amazon Payments, 8.1% Google Checkout and just
16.8% PayPal.

Sean Cook, CEO of ShopVisible said:

“Mobile is a different animal, as this
research shows. Lacking a simple alternative payment method could
crush any retailer implementing a mobile commerce strategy. Even if
alternative payment methods don’t constitute a large percentage of
your existing web business, you should reconsider the relative
importance when it comes to your mobile strategy.

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“These results decipher some of the code to
unlocking the potential of mobile commerce”.

ShopVisible says it is the first study
revealing that alternative payment options can open the door to the
USD31 billion mobile commerce marketplace that the consultancy
Forrester Research foresees by 2016.