By the end of 2015, the utilization of
mobile as a sales transaction tool through swiping or waving in the USA reached
nearer to $9 billion.The consumers spent an average of $378 using mobile
payments throughout the year.It is expected, in 2016 the average spending as
mobile payments will be considerably be more than the previous year.
In 2016, there would be huge changes
in the mobile payments which will grow by over 300%. If your business is the
retail, mobile payments has a great opportunity to bring considerable changes in
the business in the coming years . It’s not only in the retail business, mobile
payments are spreading all e-commerce-centric businesses. According to estimation,
it is expected that in 2016 nearly 25% of all smartphone users will use to
perform their transactions through mobile payments.
Especially in the USA, the number of
the mobile transactions is likely to double. Today, due to, change in
technology and increase in the number of smartphone users, the mobile payments have
broadly been increased in all business sectors.
Mainly the usage of mobile payments is
very high in the industrial and metropolitan cities. This has become possible
due to the development of mobile applications. Chicago is one of the business
cities in the USA which holds the record of more transaction and billing (swiping
or waving) made through mobile payments. Major mobile application development companies in Chicago
are one of the major contributors to this. Now let us see top mobile payment
trends in 2016:
Top mobile payment trends in 2016:
1.) Easy mobile payments
Both Apple
and Android are giving extreme importance to enhance mobile payment technology
in order to make mobile payments more secure and easier. Either Apple or Google
will end up as the leader in mobile payments.
2.)Biometric authentication
The
biometric authentication and tokenization plays a crucial role in securing the
data in mobile payments. In the authentication process, there a number of innovations
have been implemented for secure transactions. The mobile payment elements like
password, fingerprint scanning, PIN authentication are weak with some existing security
systems. In 2016, to overcome the security issues, the new methods have been
introduced such as voice recognition, pulse recognition and keystroke. The new
techniques are likely to make mobile authentication more robust.
3.) International mobile commerce
If your
business is involved in ecommerce, look forward to get into mobile, it’s a big
year. To be successful in mobile commerce, businesses should implement many
innovative strategies, including allowing the consumers to pay in their local
currency. The alternative payment methods are still to be followed in certain
parts of international territories. To get success in the foreign markets, the
payment methods have to be analysed on the respective area-wise.
4.) On time delivery
Delivery of
goods has become one of the biggest concerns in this year. The delivery of
products was taking one day in the year 2015. When it comes to shopping via
mobile devices, the purchase through mobile has increased significantly and the
cost of quick delivery has become lesser.
The Mobile
delivery is not only popular in one sector, it is being spread to logistic,
ecommerce and transport sectors.
5.) Easy to purchase via mobile:
Due to the
advancement in the technology, in 2016 the new mobile payment system has come
into existence, through which the purchasing of goods and services has become easier.The
harmonious link between hardware and software can make mobile payment system
facile.
Have a Plan to Develop a Mobile
Payment App?
If you’re
interested in developing a mobile payment app or similar kind for a business
which can make mobile transactions easier, we are here to help you. We at
FuGenX Technologies as a premier iPhone app development company in Washington develop secure and
functional apps for both small and large scale industries to make transactions
robust. We are also an emerging Android app development company in Washington.
