Could Mobile Commerce Truly Replace The Wallet?
Mobile phones are no longer devices simply for calling or texting. Phones now have more capabilities than ever and are now more a part of our day to day attire than they are a simple accessory. It seems fitting then, that they are being utilised as a central hub for modern business.
Mobile phones themselves continue to develop technologically and with the capabilities of phones developing, the services they can offer are constantly developing too. \’Smartphones\’ symbolise the most state of the art technology in mobile devices and also account for the latest trend in mobile commerce. In the first quarter of 2010 \’smartphone\’ sales rose by 49% and with this increase in sales more and more customers are finding it easier to shop for what they want, when they want and all from the palm of their hand.
It\’s estimated that by 2015, services and transactions conducted via mobile commerce will reach around $119 billion (US). In the United States alone mobile shopping rose from $396 million in 2008 to $1.2 billion in 2009. Figures such as these not only indicate the rapid growth of mobile commerce, but also suggest it would by no means be a stretch to imagine that mobile commerce could become the principle means for our daily shopping.
With mobile commerce growing and evolving at an impressive rate, it is plain to see that it not only has a future, but a profound and significant future in the marketing world. As well as this we can see a move away from the use of cash in favour of direct debit and electronic payment systems.
With mobile payment systems in use since 1997, technology is there to be developed and it may not be long until we see payments via mobile devices in the majority of stores and outlets. So with mobile commerce developing so rapidly and trends showing a shift towards electronic payment systems, whether they be via mobile or by card, it is possible to see how mobile commerce could very well replace the wallet in years to come.
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