By Ronaldo Yoshida, Product Manager at Accesstage
At the end of a purchase, we usually hear: cash or card? The answer, however, may be “on the cell phone, please”. Mobility is already a market reality. Many companies adapt their businesses to this model, or they are born this way. The same begins to happen with mobile payment. Gradually, this category is confirmed as practical. In applications for ordering a taxi, for example, users make the payment, either by credit or debit card, directly on the device. And that becomes more and more common.
Large banks have invested in the development of mobile applications, so their clients do not necessarily need to go to an agency to carry out operations such as payment of bills, consumption bills and / or transfers. According to data from the Central Bank, the use of mobile devices in bank transactions has grown by 2,275% over the past five years. This increase surpasses even Internet service, with a growth of 135% in the period - which currently corresponds to 40% of the operations carried out. It is a great opportunity as people want more mobility for different applications.
In the United States, according to eMarketer, 23.2 million people are expected to use m-payment this year. In 2016, this number is expected to grow by 61.8%. In the case of the Brazilian market, mobile payment has yet to evolve so that the concept becomes, in fact, part of our daily lives. An important point is in relation to the infrastructure and performance of mobile networks. Gartner points out that global mobile data traffic is expected to reach 52 million terabytes in 2015. The consultancy even advises service providers to rethink their data infrastructures in order to meet all consumer needs. Either we prepare to absorb the demand or the user experience will be directly affected.
And we know, UX (User Experience) is a key point these days. If when making a payment through your mobile device, the operation fails once, twice or three times, the user will not try again. This is a fact. Meeting customer expectations is essential. Even when it comes to security. Many still feel insecure about making payments on cell phones. It is practically a cultural issue that must be avoided by companies entering this market.
The challenges are many, but the business opportunities are even more numerous. Mobile is a trend that will not pass. She is here to stay. Once all companies take this first step, the journey will have no return. It remains to be seen whether your organization is prepared for this new moment. Because if not, it's time to start planning.
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