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The State of Mobile Commerce

THE STATE OF MOBILE COMMERCE 2015 HOW DOES THE RISING TREND OF MOBILE PAYMENTS COMPARE TO THE IMPLEMENTATION OF MOBILE PAYMENT SYSTEMS BY MERCHANTS? • CONSUMER TRENDS IN MOBILECOMMERCE • In 2013, 87% of the U.S. adult population owned a mobile phone. 87% By the end of 2015, it is predicted that there will be a mobile device to account for every person on earth-that's almost 7.2 BILLION. In 2013, 73.2 MILLION U.S. users accessed mobile shopping services on their tablet device. In 2013, 53.5 MILLION U.S. users accessed mobile shopping services on their smartphones. This number is expected to reach 119.6 MILLION in 2018. This number is expected to reach 97.5 MILLION in 2018. ONE OUT OF EVERY TEN consumer ecommerce dollars $ $ $ $ $ $ $ $ $ $ is now spent using either a smartphone or a tablet. • MOBILIZE TO SURVIVE • Adapting mobile will undeniably pose a huge opportunity for many retailers. However, most businesses still have not taken the steps forward. CONSTANT CONTACT also recorded in a recent survey that 72% of respondents do not incorporate mobile into their marketing campaigns, and only 13% have created a mobile-friendly website. Shopify cites that 71% OF RETAILERS provide online experiences that are NOT mobile-friendly. 3rd The U.S. is currently ranked THIRD in mobile payment readiness with a score of 41.5 OUT OF 100. • ADVANTAGES OF BEING MOBILE-FRIENDLY FOR RETAILERS • Becoming mobile friendly allows for companies to address the consumer's desire for an easy, convenient way of purchasing: 87% of retailers bring in mobile to drive revenue/sales to websites. 65% to improve customer satisfaction. 65% to develop brand loyalty. 61% to provide a source of information for consumers. 57% to improve customer acquisition. • WHAT TYPE OF MCOMMERCE ARE CONSUMERS ADAPTING? 117% Tremendous growth occurred in the share of people who reported making a POS purchase with their smartphone in the past 24 months 6% 1% 2011 2012 2013 During the second quarter of 2014, it was found that 45% of smartphone payment users paid for goods and services by presenting a BARCODE OR QR CODE on their device screen for cashiers to scan. NFC 823 37% waved or tapped their mobile phone at the EE register (NEAR FIELD COMMUNICATION OR NFC). Many retailers have NFC-BASED, contactless pay terminals already in place. In 2014 alone, 11.1 MILLION U.S. users accessed near-field-communications or other contactless technology. Phones compatible with Google Wallet and Apple Pay can currently use these terminals. Research estimates that in 2016 11.1M 36.2M near-field-communications will be 2014 2016 accessed by 36.2 MILLION U.S. users. WHAT ARE CONSUMERS PURCHASING? HOW ARE THEY BENEFITING FROM THIS? Size of purchase individuals are prepared to make using their smartphones: 43% 41% 32% for small purchases for medium purchases for large purchases Consumers feel mobile payment systems offer the following advantages: TM SALE! 29% 23% Ease in 18% Safety & Security of personal data 34% 24% Speed of use Freedom from Access to carrying a wallet mobile deals tracking spending CAN RETAILERS KEEP UP? • Where can consumers pay with their mobile device today? S 3,800 RETAILERS have already adapted LevelUp payment systems. Square has nearly 2 MILLION active users. APPLE PAY, a top mobile payment system, already works in 40,000 Coca Cola vending machines, with a "tap to pay" feature that will soon be found on 200,000 vending machines nationwide Starbucks has over 13 MILLION mobile app users in the U.S. These mobile payments comprised 16% of the company's total transactions. before 2016. Consumers will be able to TAP-TO-PAY at vending machines, laundromats, parking terminals, and other automated check out systems with their iPhones, rather than having to carry the change. Starbucks averages more than 7 MILLION mobile transactions in their stores each week. 7M • FORECASTS FOR THE FUTURE • 57% 31% think mobile payments will become widespread over the next three years. of consumers would like to be able to take advantage of store-specific loyalty programs using just their phone. 41% 22% said they are interested in using mobile devices to pay for goods and services. said they would be driven to use mobile payment technologies if they could apply discounts and coupons from their mobile devices. • BROUGHT TO YOU BY • MERCURY MERCURYPAY.COM Sources:

The State of Mobile Commerce

shared by MercuryPayments on Apr 19
Payments insiders have been talking about mobile payments for some time, but consumers are just now starting to explore the option. The much-hyped release of Apple Pay, as well as other mobile payment...




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