Ecommerce Europe sets out its vision for the future of mobile payments in the Online Payments Market Guide. The magazine is a publication by The Paypers, a leading independent source of news in the global payment community. In a two-page interview Elaine Oldhoff explains why one-click buy and e-Identification (e-ID) systems need to go hand-in-hand when it comes to mobile payments.
Potential of mobile payments not fully used
Current payment technologies have already developed to a stage that the use of worldwide mobile payments (m-payments) is possible. However, web shops are not sure about where to invest and which payments solution to offer to their consumers. Moreover, a fragmented market of technologies challenges interoperability and, thus, cross-border mobile payments possibilities. This makes it very difficult for merchants to expand to new markets and leaves huge potential for new business unlocked.
One-click buy good solution for mobile payments
A big problem with mobile payments is that with most of the payment solutions, mobile checkouts are not so simple to use to capture repeat shoppers. Consumers have to constantly enter the same data when they checkout, and usually this happens on small screens or less easy-to-use keypads. For a seamless mobile shopping experience for the consumer, Ecommerce Europe therefore recommends a one-click buy option, able to re-use previously verified consumers’ information (delivery, payment preferences, etc.).
If you would like to know more about the subject, please download the full report “Online Payments Market Guide 2014” from the Reports section of The Payers website. Ecommerce Europe’s contribution is located at pages 46-47.