Mobile Payments Expected To Boom

It is expected that this holiday season consumers will make an increasing number of larger purchases via their mobile phones. This prediction follows on from a consumer who bought two US$ 300,000 John Deere tractors from their mobile. Purchases of this kind where not expected at this time by most in the industry.

This goes to show how mobile payments are moving into the mainstream and becoming a part of daily consumer life. There are certainly benefits for the consumers; purchases are much quicker and easier to make and it makes the stressful holiday shopping that much more enjoyable. Surely this will lead to consumers spending more money also.

This expected surge in mobile purchases comes at the same time one of the largest electronic payment solutions providers, Verifone, acquires Way Systems, a provider of mobile POS solutions and gateway services for mobile merchants. So clearly, Verifone, also agree with the expected increase in sales and are getting ready for it. It makes sense, 75% of consumers do not have credit cards but 4.5 billion people have mobile phones 소액결제 현금화.

Mobile payment and mobile banking appeal to that 75%, the unbanked or underbanked population. The attraction being the easy accessibility, portability and low fees, and they will be a large percentage of the people making purchase via mobile for the holidays.

All of this seems very promising, but on the flip-side, how many consumers would feel safe making such large purchases? Not many. And with all new technology consumers like to test it out first, get used to it and truly feel safe while using it. No doubt we will see an increase in mobile purchases, but it is likely that it will take more time for consumers to feel completely comfortable using mobile.