Digital Economy - M-Commerce and M-Payments - Key Sectors in 2013

Synopsis

Archived report. Mobile commerce is one of the hottest sectors right now and it is gaining importance for a wide range of industries, including telecommunications, IT, finance, retail and the media, as well as for end-users. It works best in those areas where it can emphasise the core virtue of mobile networks – convenience. The enormous success of smart phones is linked to the Apps which are available and increasingly commercial models will be linked to these apps - which will result in further spectacular growth in m-commerce. BuddeComm sees the development of m-wallets as a major breakthrough for the m-payment sector and beyond, and could indeed be a game changer. Please note, a separate report is available on the global e-commerce sector.

Key developments:

in 2013 eBay plans to make PayPal available in around two million stores via a credit card reader in order to establish itself further in the m-payment sector; In February 2013 Visa and Samsung announced that Visa's NFC payment system will be built into all future Samsung smartphones; Samsung is the world's biggest smartphone maker and together, the two have a solid chance of making mobile payments a global reality; The term SoLoMo (Social, Location, Mobile) continues to be used when referring to developments in the m-commerce sector.

Companies mentioned:

Facebook; Foursquare; Google; Visa; Samsung; Ebay/PayPal; Amazon.