Mobile commerce is expanding phenomenally and it has revolutionized the business arena like never before. It has brought significant changes in consumer shopping behavior too. Mobile-savvy consumers want to make payments while they are on the go and if you are still hesitating to adopt mobile payment trend then you are losing the opportunity to meet up your customers’ expectations and capture their spend as well. Let us delve a little deeper to find out why it is imperative for you to dip your toes in the mobile payment space:
Let The Data Do The Talking!
Visa’s Digital Payments Study 2016 reveals that since 2015 there has been a three-fold increase in the number of Europeans, from 18 percent to 54 percent, regularly using a mobile device for making payments. The Study further reports that Turkey, Denmark, and Norway are the top 3 countries where mobile payments are most prevalent.
Another survey report shows that in the U.S. mobile payments have been made by 39 percent of mobile users in 2015 which was just 14 percent in the previous year. Visa Europe predicts that 60 percent of the UK population will be using mobile payments at least once a week by the year 2020.
Mobile Payment Is The Norm
The huge potential in the mobile commerce and mobile payments is evident from the aforementioned stats. The payment trends are constantly evolving and businesses are left to confront with the challenges brought about by them. The biggest among them is meeting the ever growing demands and expectations of consumers.
You need to do a lot in terms of making the mobile payment process convenient for customers. Therefore, aim to optimize the mobile checkout in order to make mobile payments simpler and easier. It’s high time that you understand that providing perfectly designed, quick, safe and mobile-friendly solutions is indispensable for the success of your business.
Seamless Checkout Process
Nothing is more unpleasant than entering heaps of information on a small screen. Your consumers are digital natives and live a fast life. Do not make them lose their valuable time lest the cart abandonment rate will increase.
Implement one-click payments for purchases reducing text input to the minimum possible extent because fewer clicks would mean more sales. You need to consult your mobile app development specialists to focus on user-friendly design by eliminating redundant elements and distractions.
Addressing Security Concern
Consumers with strong security concerns are holding back mobile payment adoption as they fear cybercrimes and consider it less secure than cash. To address your customers’ concerns and enable them cross this barrier educate them that with technological advancements in mobile commerce, mobile payments are becoming higher and safer on almost daily basis.
To excel in the business arena, keep up with the competition and your customers’ expectations adopt this trend now! Get in touch with Mobile App Development Agency and talk with adept team of mobile app development specialists for estimate and analysis.