UK payment e-commerce gateway Sage Pay is partnering with mobile commerce provider MoBank to give its 40,000 UK merchants access to mobile payments capability.
Sage Pay merchants will now have access to Mobank’s MoPowered Software-as-a-Service (SaaS) m-commerce solution, which aims to provide Sage Pay clients with greater payment’s flexibility.
“Mobile commerce is growing rapidly, and more consumers are using their mobiles to make online purchases. A recent study by Forrester estimated that by 2016, 14 million people will be making purchases via mobile handsets,” said MoBank chief executive Dominic Keen.
A Sage Pay’s annual business report found that only 5% of e-tailers currently had apps, but 40% planned to invest in one within 12 months. According to the same survey, 45% of merchants stated that time and cost were the main barriers to going mobile.
Another study undertaken by MoBank highlighted that 89% of SME retailers believed that mCommerce was a necessity for the growth of their business, but only 24% had integrated a mCommerce site.