Mobile Payments Will Break New Ground in 2017

Mobile Payments Concept

Mobile Payments Concept Isolated Over White Background

There will be an estimated 4.7 billion smartphone users in 2017, and the number is slated to go up to 5 billion by 2020. A lot more customers are shopping from their Smartphones these days. In fact, traffic from smartphone devices to eCommerce stores has surpassed traffic from desktops! Businesses worldwide are scrambling to offer their services online and also to accept payments from customers on their sites or through apps.

Relevance of mobile payments

It is estimated that by 2025, over 75% of all transactions will be through a digital medium. Mobile payment technology is relatively new and offers a much safer way for customers to buy online as compared to using credit or debit cards.

Multiple devices in use

Customers tend to use many devices while shopping. For example, they will use their phones to scout a product and pay for it through their desktops. They may also scout products on their desktops and pay for it via a tablet. Mobile payments can simplify the buying process across multiple devices.

Satisfying Customers is essential

Almost 40% of all customers will abandon their shopping carts if stores don’t offer a mobile-optimized experience. Satisfying customers is important if you want to do business, especially when it comes to mobile users. It is hard to type on small screens. Mobile payment solutions have to be custom-designed to offer a simplified payment process.

The checkout process needs an overhaul

Currently, it’s hard to buy via smartphones at most stores. Ideally, checkouts should require a couple of taps. That can be done by overhauling the entire checkout process, by making it user-friendly and small-screen centric.

Security concerns exist

Mobile wallet technology is deemed unsafe by almost half of all users. In reality, though, it is much safer than sharing credit card info directly with a merchant, as it involves a tokenization system that, if hacked, prevents hackers from making sense of transaction info.

Mobile payments are slated to become common in 2017. Businesses that adopt the technology early are likely to reap benefits. You can consult with experienced developers on how best to utilize the technology for your unique business.

 

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5 Tips to Get the Maximum Out Of Mobile Application Analytics

When you set out to build a mobile app, a well-planned strategy and solid development are a must and a neat design is paramount. But analytics is the key to measuring execution and the value of all hard work you’ve put into building the app. As mobiles continue to penetrate every aspect of our lives, it is but natural that developers and marketers alike are constantly trying to measure user behaviour through app analytics. While the mobile app industry might be young, there are a number of platforms and services vying with each other to provide you with good app data.

Start Using Analytics Before Your Application Is In the Appstore

There’s no use if you start thinking about analytics after your application has been accepted in the Appstore. You can create a more robust, user-friendly version1 if you start analysing data during your application’s alpha and beta phases. You could use Test flight for example.

Users May Not Use Your App the Way You Do

You’ve meticulously planned your app’s design, functionality and flow, but you still need to be able to think like the user. Get third party opinion by asking unbiased users to use your application. Put websites like Craigslist and heatmap which uses heat maps to enable you to see which part of your application users interact with to good use.

Analyse Market Data to Avoid Mistakes of Your Competitors

While analytics providers may be a bit expensive, it is still worthwhile to see what other apps are doing in the market, their price and functionality. With this information, you can make decisions knowing how consumer preferences and application performances in your category.

Select KPIS That Suit Your Target Audience

There are a variety of apps for a variety of things. There are apps for education, testprep, epub, news, messaging, movies and entertainment. Each has a performance indicator of its own. User retention might be important for a particular application while purchase conversion would expectedly, be paramount for an ecommerce application. It is important to know what metric to focus on for your app.

Different Providers for Different Apps

Again, this boils down to knowledge. You need to know which analytics provider caters to which vertical. Localytics and Platyomics are both analytics providers, but one caters to content delivery while the other is for mobile gaming.

As mobile users grow at a rapid pace, mobile analytics too would catch up. Which means you’ve got to keep pace as the scenario keeps changing.