Using the example of what happened over the Christmas holiday last year, we can understand the need for security. I am referring to the stolen credit card information that was hacked from Target (News - Alert). While more people are becoming comfortable using mobile devices for shopping and banking there will always be the need to feel secure. Toward this end, the financial community has not been holding back its attempts to create a more secure environment. Companies like TSWG are assisting in the process.
I am sure that we are all familiar with the plastic donation boxes that sit on most counters near the cash register. If a majority of people are making payments with cards and mobile devices that coin change that used to find its way into the drop-off box becomes a thing of the past. That is why Sionic Mobile is giving people a chance to pay it forward with C.H.O.I.C.E.S.
It is now going to be a little easier for customers to make payments and for retail merchants and SMBs to process those payments in the Philippines. Using a product similar to Square, the device that attaches to your smartphone allowing you to process credit card payments, Filipino carrier, Globe Telecom may just have the solution that SMBs need.
There are always reports forecasting and estimating what the future holds. One of the latest reports sees mobile commerce will shoot past the $450 billion mark in just five years. In order for this to actually come to light, all the different segments and ways of accomplishing the same process need to come to together.
I have said in the past that security is a major part of that. When companies work together to offer a product, such as a mobile payment option, that makes life easier, it has to be secure, giving consumers the confidence to use it. If that happens, we may see even higher revenue numbers.
One thing that news like this does accomplish is make more companies that were taking a back seat to see how the mobile commerce market does, jump into the fray and take a chance. Let’s be honest, small retailers and SMBs often cannot take the chance and make a major investment in something like mobile commerce unless they feel that there is a return factor. Thanks to reports showing a rapidly growing market, companies like Beddingstyle.com have launched new mobile websites.
These are just a few of the stories that we worked on this week. 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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