Melissa O’Malley, director of global merchant and cross border trade initiatives for PayPal (News - Alert), said in an interview, “People don’t associate their phone with making phone calls. They associate it with something that’s transactional… It has become a really utilitarian device.” And as mobile devices get smarter, making calls will be secondary to everything else, with financial transactions topping that list. With so much potential in mobile commerce, merchants have to be aware of the existing technology and the impact it can have on their bottom line. To that end, Pyrim Technologies, a mobile commerce consultancy company, has introduced the Mobile Commerce Education Resource Kit, a 35-page guide titled “Pyrim's Guide To Mobile Commerce,” to teach merchants about the mobile commerce ecosystem.
The ecosystem is comprised of many different components that have to be integrated into a comprehensive platform in order for merchants to take advantage of the technology. Mobile wallets, payments, marketing, social media, loyalty programs, location-based services and other solutions have to come together to fully leverage many of the benefits mobile devices can offer. The solutions Pyrim provides is designed to give merchants the tools they need to navigate this complex environment.
The new guide was created to specifically address the need of merchants regarding the growing mobile commerce revolution so they can fully understand and capitalize on emerging trends and future technologies.
After researching the mobile ecosystem on behalf of its customers, the company recorded its findings in components of the Mobile Commerce Resource Kit. The result was a guide with the six major elements of the mobile ecosystem, as well as close to the 80 supporting sub-components and its growing list of enabling technologies. The Mobile Commerce Education Resource Kit includes:
- The Guide To Mobile Commerce, which is the 35 page guide that teaches merchants about the ecosystem
- The Mobile Commerce Landscape Report, which is a 10 page guide that teaches merchants about the latest events but within an historical perspective
- The Mobile Commerce Matrixes, which is a Excel-based tool that teaches about the solutions, implementations, suppliers, news and trends
- A monthly conference call where we collaboratively discuss the latest mobile commerce developments with merchants
The knowledge base of merchants varies greatly; while some are keenly aware of all the technology available to them, many are in the dark. In addition to the valuable information the Pyrim guide offers, there is a questionnaire to gauge the level of your knowledge base. And based on the result, you can take the appropriate actions to give your business a fighting chance in a very competitive world as digital technology, which includes mobile, becomes the preferred method of conducting financial transaction by a growing number of the global population.
Mobile commerce is rapidly outpacing ecommerce, and a research conducted by PayPal in conjunction with Ipsos revealed, the average compound annual growth rate for mobile commerce is projected to be 42 percent from 2013-2016, far exceeding e-commerce’s growth rate of 13 percent. These important data points should push merchants to learn about the technology as soon as possible.
Edited by Dominick Sorrentino
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