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Mobile Commerce Insider Week in Review

Mobile Commerce Insider Featured Article

March 08, 2014

Mobile Commerce Insider Week in Review

By Joe Rizzo
TMCnet Contributing Writer

If you think about mobile commerce, it makes sense that mobile payments play a very large roll in its success. Financial institutions, retailers, and several other companies have been creating apps to process mobile payments. There is an easier way.

You can have your mobile payments go through your phone bill. It seems to me that this would not only be an easy payment method, but it would also be a good way to keep a record of your transactions. Oddly, while this does seem to be catching on, it is a very slow process with only about 12 percent of billers having any type of strategy for it.

Although credit cards and card-based transactions are supposed to be universal, there are quite a few times when you will try to make a purchase abroad, while on vacation or traveling for business, only to find that your card has been declined.

When you realize that one way that banks try to recognize fraud is by looking at your buying history, it is easy to see how your card can be declined when attempting to make a vacation purchase. This is often something unusual or out of the normal, therefore, making it questionable.

MasterCard has teamed up with Syniverse (News - Alert) to try and alleviate this problem. The idea is to basically use your smartphone as a personal GPS device. By using geo-location technology it should be a simple enough process to determine if the smartphone and credit card are in the same location.

Another way that MasterCard (News - Alert) can use geo-location technology is to target offers and deals to customers based on their particular location. Apparently, there does seem to be a rather large market for this. I’m just wondering, what happens if your wallet and smartphone are both stolen?

Samy is a leading mobile marketing and engagement network. Samy facilitates local engagement between consumers and bricks and mortar businesses on mobile devices. It looks like McDonald’s will be using this network for its omni-channel winter campaign in Switzerland.

It seems that in a two month test run, McDonald’s found that most customers prefer to redeem coupons through their mobile devices. I suppose that the figures support this out with a 65 percent redemption rate.

Last week we talked about the fall of Japan’s largest Bitcoin exchange Mt. Gox. This week we see that Flexcoin is following that same path. Rather pronounced software flaws were seen as the culprit for its downfall. Hackers were able to find their way to Flexcoin’s stash.

There is a difference in the two failures, Flexcoin working with law enforcement to track down the culprit. In addition, since some of the Bitcoin was held in offline computers, they were not stolen, so even if the company folds some people will get their Bitcoin back.

Let’s face it Bitcoin doesn’t necessarily have a good reputation. In most cases it is seen as a way to launder money, make illegal purchases and I’m sure many more things that I just can’t think about right now.

Japan is moving toward treating Bitcoin as more of a commodity instead of currency. It would be treated along the lines of gold and other types of precious metal. With that in mind, Japan is leaning in the direction of taxing and regulating Bitcoin. This could have an interesting effect on the digital currency.

On the other hand, it was only about two months ago that began accepting Bitcoin as a form of payment, however, this week it has already passed the $1 million mark. It also seems that more companies will be joining the bandwagon and begin to accept Bitcoin for payments.

A lot has been taking place in the world of Bitcoin this week, some good and some bad. Regardless, you can find several more stories concerning Bitcoin, including something that happened at an airport. You can find out all of this week’s details at our site.

 These are just a few of the stories that we worked on this week. Believe me when I say that I cannot even begin to scratch the surface of everything that has been going on just this week alone. You will have to take some time and sort through all the information that we have for you. It is something that I suggest you do on a regular basis.

The world of mobile commerce is growing and changes are constantly happening all over the globe. It is impossible to know everything that happens as mobile commerce continues to forge ahead and make major strides. It is impossible to mention everything that is happening and all that we’ve looked at just this week alone. The best way to stay current is to keep checking in with us. You can stay current by checking out the details to these stories and many more by going to Mobile Commerce Insider and keeping an eye what is going on in the mobile world of commerce.

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