11 Feb

5 Reasons Why 2011 Will Be All About Mobile Commerce

Category: Digital Marketing, Mobile | Post by: Rebecca

“The idea of turning your mobile smartphone into a mobile wallet is an appealing one. There is no device that spends as much time in our personal proximity than a mobile phone, much more than wallets,” reports Douglas Orr. Here are 5 reasons why mobile will get mainstream adoption this year:

1. Near Field Communication (NFC). NFC technology when included in your mobile phone enables a secure connection between the phone and another NFC enabled device. As a consumer you might use this to get more information about an offer on a product by tapping an NFC enabled shelf price tag (much easier than a bar code). More excitingly, you may be able to make your purchases at the check-out.

2. Apple’s iPhone 5. A simple tick of the upgrade box and your iTunes account is now an iWallet. This device is also expected to support NFC. In fact: in light of all of the patents that Apple have filed for novel uses of NFC technology to pay for everything from entertainment tickets to intelligent checkout baskets some belief that NFC and payments will be the focus of Apple’s new phone.

3. Mobile Wallets. True wallet functionality that enables small purchases is being rolled out in 2011 by a variety of operators, manufactures and others. You will be able to not only make purchases but also split a restaurant bill and transfer money to a friend in a way that is easy and fun.

4. Affordable mobile solutions for retailers. Platforms are now available that enable a technical integration with existing online solutions that are affordable, easy to implement yet secure. The transaction costs are also coming down to a level in line with other existing payment solutions. Leading players in this space to watch include PayPal, Cardinal Commerce, PayThru and Monetise.

5.VC Investment There are truly colossal sums of investment being made by VCs large and small on the mobile space. Mobile VC investment made up 34% of ALL tech venture investment in 2010, totalling $6.1bn.

Read three more reasons here. Do you think wallets will become as redundant as wristwatches? Or does the mobile market still have a ways to go?

Posted Friday, February 11th, 2011 at 6:00 am
Filed Under Category: Digital Marketing, Mobile
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Responses to “5 Reasons Why 2011 Will Be All About Mobile Commerce”

David Stone
February 22nd, 2011 at 12:14 am

Mobile Wallets?

They are the touch paper for m-commerce take off. Consumer trust in technology is initially key, given aversion to security issues, such as risk of losing money, either from theft of mistakes like mistakenly double scanning the mobile device.

Equally, banks for some reason still don’t generally give £100 debit cards, so there is still a learning curve for both parties. I will come to the point where it will become standard practice.

Rebecca Thorman
February 22nd, 2011 at 12:45 pm

@ David – Great points. I agree it will be standard practice soon and indeed, especially for the iPhone crowd, could take off immediately. Although you’re right that there will probably be some push back to make sure the technology is safe.

Pallavi Bhatt
February 23rd, 2011 at 10:47 am

I completely agree…as the year(2011)progresses, mCommerce is going to really pick up with the new gen of smart phone.. a few months back, i could never think of buying anything thru my mobile but today it’s a different story… This channel has a lot of potential and the Mobile FEVER is spreading….however this channel needs to be explored tactfully for a Marketing point of view.

Digital CPG Blog » Blog Archive » 5 Reasons Why 2011 Will Be All About Mobile Commerce | Anthony Cerreta
February 24th, 2011 at 10:16 am

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