What is your key audience?
Are they people between the ages of 18 and 30?
If yes, you need to know this:
• 63% of millennials shop online using their smartphones every day;
• and thought the 53% of purchases are still made in stores, 65% make purchases with their phones from start to finish.
Do you still hope that you’ll be spared?
E-commerce environment is one of the most competitive business spheres. If you want to flourish within the commerce, you need to adapt.
What does trigger mobile popularity?
• The growing number of mobile users is projected to result in 4.68 billion by 2019. A smartphone is no longer a privilege, but the way it is. What is more, the audience continues growing younger. Today children aged between 6 to 13 have their own mobile phones. Think of the angle.
• The average number of Internet users worldwide continues to increase and in 2017 it counted 453.329.534, which is a 9.941% boost in comparison with the 2000s. The free Wi-Fi spots are washing through the city network, wherever you go — just one click and you are online.
• The ongoing development of Internet technologies, mobile applications and points of sale (4G, PWAs, markets etc.) just adds fuel to the fire.
• There is quite a large selection of open-source e-commerce platforms (Shopify, Magento, PrestaShop, etc.) and a great number of plugins for them. The add-ons allow you to implement different mobile payments and make your web-store mobile friendly. This simplifies the work at the platform customization. What’s more, it lets you get extra bonuses, such as higher ranking in SERP.
• A faster pace of life has brought to quest for new markets. How to make people purchase faster? Let them discover various products on-the-go using mobiles.
All these (and even more) factors are those triggers that are to make mobile payments go viral. Mobile and e-commerce go hand-in-hand.
What makes mobile wallet popular?
At a time as mobile devices gain more and more traction, mobile payments become an attractive solution for customers’ convenience in this regard. Therefore, an impressive number of online retailers implement the new form of payment with a view to bringing more clients to their e-stores.
The latest trends confirm that in 2018 there is a firm customer interest in using mobile payment apps. Such factors as convenience and flexibility cause extra adoption of mobile wallets. Besides, this is a good investment in security measures, as a customer does not necessarily have to give any sensitive information while paying. So, let’s dig a little deeper into the mobile payment pros.
4 Mobile Payment Pros
#1. Convenience
The payment process is easier, as a customer can complete a payment anywhere and at any time. All they need for this is an Internet connection and a mobile device. Customers are seeking to make purchase faster, and mobile payment allows them to experience in-and-out shopping.
#2. Security
Credit card information isn’t stored on customers’ mobile devices but directly in the cloud. So, even if a client loses the smartphone, no vulnerable information can be stolen from the device. The factor gives more credit to your store.
#3. Buy-in
Conversion rates and a number of the returning customers depends directly on the purchase process you offer in store. By speeding up the checkout, you gain more buyers who make spontaneous purchases.
#4. Cost
There are no monthly or transactional fees for your clients. To implement mobile payments to your store you’ll need a mobile card reader or barcode scanner, which come at a lower cost.
In-demand Mobile Payments
Among the most sought-after mobile payments, there are PayPal mobile, Paypal Express, 2Checkout, CCAvenue, iPay88.
When considering the feature-to-feature benefits, in particular, one can highlight the following:
• PayPal Mobile is as safe as a PayPal online account, which inspires customers’ trust. Mobile transactions are PIN-protected, so you don’t have to worry about mobile phone loss.
• PayPal Express simplifies the checkout due to the fact that a customer doesn’t need to create a PayPal account to purchase online. Besides, it charges no monthly fee for the usage.
• Using 2Checkout customers can pay simply by their credit or debit card with no need to sign up for the account. However, the payment doesn’t support virtual terminal.
• CCAvenue is probably the most flexible mobile payment that can meet the demands of any business, let it be small, mid-sized or a larger e-business. The payment is known for one of the highest levels of SSL encryption. Any information sent back to a customer goes from a CCAvenue gateway.
• iPay88 also comes with advanced Internet security features and fraud prevention mechanism. Yet, it has gained more appeal among Asian market users.
Summing-up
• There are no doubts mobile payments will go viral.
• We see, the number of mobile users increases, the Internet gets publicly available even in the third world, the pace of life grows.
• Without leaving an alternative, we have to do things on-the-go to save more time for bigger things.
• Mobile payment is just one of the consequences of m-commerce popularization.
• Keeping abreast of technological developments is what you need to stay in the running.
Author’s BIO: Alina is a technical writer at Amasty, she wants to work a fine line between customer’s needs and merchant’s interest.
