Statistics released earlier this month show worldwide online consumer spending reached $638 billion in 2013. The more insightful statistic though is that mobile commerce on its own is predicted to top $626 billion by 2018. What this means is that web sales only on smartphones and tablets in 2018 will nearly equal web sales on every imaginable computing machine from just five years earlier.
Mcommerce is no longer new but the pace at which it is growing is jaw dropping.
Mobile is not the future it is the here and now but it is not without its challenges. Consumers want to do everything using mobile from shopping to account opening, banking to online gaming, and the predictions for mobile commerce are not pipe dreams but there are certain things that need to happen to achieve this as an industry.
Speed, a frictionless process and easy to use – a mobile mantra to live by.
Making a payment or opening an account needs to be as easy as taking a photo with your smartphone and turn a 55 second process of typing details into a smartphone via mobile into a 5 second snapshot.