{"id":4630,"date":"2013-04-10T21:15:00","date_gmt":"2013-04-10T21:15:00","guid":{"rendered":"https:\/\/leap.staging.ribbitt.com\/evs\/the-value-of-mobile-commerce\/"},"modified":"2013-04-10T21:15:00","modified_gmt":"2013-04-10T21:15:00","slug":"the-value-of-mobile-commerce","status":"publish","type":"post","link":"https:\/\/leap.staging.ribbitt.com\/evs\/insights\/the-value-of-mobile-commerce\/","title":{"rendered":"The Value of Mobile Commerce"},"content":{"rendered":"

Just as soon as online payments became a norm for
\nbusinesses, it wasnt long before mobile
\npayments<\/a> soon caught everyones interest, consumers and businesses alike.
\nWhile few retailers, including Starbucks, have really embraced mobile
\npayments<\/a> as a regular means of payment, many point-of-sale(POS) markets will also soon begin
\nimplementing this option. In Javelins first forecast on mobile payments<\/a>,
\nit was predicted that mobile payments made up only 0.01% of POS volume. By
\n2018, mobile
\nPOS payments<\/a> are predicted to account for 13% of overall POS purchases. Even
\nthough 2013s value prediction for mobile payments is only around $0.7 billion,
\nthis value will significantly increase to $2.4 billion in 2016.<\/p>\n

<\/p>\n

While mobile online payments (not to be confused with mobile
\nPOS purchases) have taken off, many retailers are feeling the pressure to adopt
\nthis newest trend for in-store purchases. Mobile in-store purchases serve a
\nvery obvious need for convenience for consumers in the store. Mobile purchases may
\neven increase sales by keeping impatient consumers in stores long enough to
\ncheck themselves out. But there are precautions that should be taken into
\nconsideration before jumping on this mobile in-store payment bandwagon. Retailers
\nmay be attracted to the convenience mobile POS payments will offer, but companies
\nwill need to assess how their fraud prevention<\/a>
\nneeds will change. Any time sensitive information is being shared the company
\nis liable for the protection of this information and more importantly the
\nretention of their customers. Mobile security is tricky, and understanding the
\nrisks is the foundation of preventing
\nmobile fraud<\/a>. Even if mobile payments arent a part of your short terms
\nplans, educating your company on the risks is relevant in todays mobile world.<\/p>\n<\/p>\n

[Contributed by EVS Marketing]<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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