The increased availability of smartphones with
user friendly applications is fuelling the growth in mobile
transactions which is set to double in value to $200bn globally by
2012, according to analyst firm Juniper.
Juniper’s study ‘Mobile Payments for Digital
& Physical Goods: Players, Markets & Opportunities,
2010-2014’ found that the growing realisation among users that they
can make e-commerce purchases by mobile is driving the market. The
report highlighted there are still significant opportunities for
mobile web payments to be used as a marketing tool for brands,
retailers and merchants by selling convenience to consumers.
“Our research showed that the purchase experience has been enhanced
by improved mobile commerce transaction processes due to faster
mobile networks, more powerful devices and much more user friendly
Smartphone apps,” said report author Howard Wilcox. “Amazon
Payments for example has recently introduced payment-processing
tools for mobile devices, enabling Smartphone users to buy with one
click.”
The Juniper report also mentioned that
retailers and merchants need to communicate the cost of
transactions clearly so that people are not discouraged from buying
by mobile.
