<\/p>\n
In a recent study conducted by Forrester<\/a>,
More shopping on smartphones, means more payments being
There is no doubting that mCommerce will change the industry
[Contributed by EVS Marketing]<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" In a recent study conducted by Forrester, it has been predicted that in the next 5 years, mCommerce will quadruple to $31 billion. Last year, sales of physical retail goods and services made on smartphone were around $8 billion in<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"class_list":["post-4648","post","type-post","status-publish","format-standard","hentry","category-phone-verification"],"acf":[],"_links":{"self":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/comments?post=4648"}],"version-history":[{"count":0,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4648\/revisions"}],"wp:attachment":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/media?parent=4648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/categories?post=4648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/tags?post=4648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nit has been predicted that in the next 5 years, mCommerce will quadruple to $31
\nbillion. Last year, sales of physical retail goods and services made on
\nsmartphone were around $8 billion in the US. Even though this seems
\nsignificant, it was only 3% of all online sales and 1% of total retail sales.
\nFor the average US retailer, mobile only accounts for 1.5% of total online
\nsales. Although that may not seem to be very powerful now, mobile sales are expected
\nto increase 33% in the next 5 years, then accounting for 9% of all retail sales
\nin the year 2017. So, what does this mean for businesses? Whether or not you
\nare impressed with these number, the fact of the matter is mobile commerce is
\ngrowing at a hefty rate. And even if your company does not currently offer any
\ntype of transactions that may involve mobile
\npayments<\/a>, its important to know and understand this current trend.<\/p>\n
\nprocessed on mobile devices. While this is convenient for consumers, this can
\nbe troublesome for businesses. Companies that offer both online and\/or mobile
\npayment options face an issue with conflicting sides. While they must offer a
\nsafe method of payment processing, they must also make sure its easy and
\nconcise enough to keep customers moving through the checkout process. Often
\ntimes if a checkout process is too complex, shoppers will get frustrated and
\nabandon the transaction. Many companies use secure check out options like
\nPaypal to make the shopping experience more convenient but that is not always
\nenough. Having multiple layers of security will strengthen the authentication
\nprocess acting as a prerequisite to the checkout process. And by utilizing knowledge
\nbased authentication<\/a>, this process can be quick, easy, and effective.<\/p>\n
\nin the big way. Just this past year, Paypals mobile payment volume increased
\n250% and eBays mobile
\npayment volume<\/a> increased more than 120%. Many of these retail giants are
\nworking on shopping
\napps<\/a> that will make the shopping process more streamlined for consumers.
\nRemember that the more convenient businesses make the payment process, the more
\nthey open the gate for mobile fraud. If your company is looking to venture into
\nthe mCommerce realm, be sure to have the conversation about mobile
\nfraud prevention<\/a>.<\/p>\n<\/p>\n