Jul 18, 2011

Mobile eCommerce Trends– Money In Your Phone

by: in Mobile

Mobile eCommerce is an emerging application available on mobile phones. Mobile eCommerce exists in a couple of formats. The first is the ability to purchase items on your phone. Much like the ability to purchase on the desktop, you can purchase items over the phone. Many companies have used their existing desktop platforms in allowing consumers to purchase over the phone. Some of the implementations work well. However, in many cases the eCommerce systems have been slow, break or are not user friendly.

The second format is utilizing a mobilized site or mobile app to make a purchase. The mechanism is the same as the first: the consumer is purchasing via a shopping cart with a credit card number attached. However, the shopping and purchasing is tailored for the mobile user. Larger buttons, quick checkouts and synchronization with an online account make mobilized site/app purchases a much more appealing format than the former one.

The most exciting format in this space is the digital wallet. Your phone is tied to a credit card provider (MasterCard) and a mobile phone provider (Sprint). The phones are embedded with Near Field Technology (NCF) technology, which allows phones to make transactions and exchange content between devices and systems. The technology turns your mobile phone into a credit card where you can purchase items using your phone and then are billed via your credit card, which is tied to your phone. Many companies are advancing this technology, including Google.

As mobile phones tack on more and more function, there will come a time when you will not need a wallet when you walk out your door.