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Tuesday, December 13, 2011

Mobile Payment is Big Business

As per this Infographic from the Acquity group, mobile payments will soar
to USD 670 million in transactions for 12 month period ending December 2015. 
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Mobile Commerce for Midsize Retailers

It’s easy enough to jump into the m-commerce bandwagon when you’re a big company with lots of money to throw into getting an m-commerce platform developed; but these days, everyone – not just the big guys – realizes the potentials of going mobile. It’s one of those do-or-die things: if you don’t jump into the wagon, you’re going to be left behind.

So what do you do when you’re a mere midsize retailer whose limited funds are mostly directed at inventory and not at store development?

This was the dilemma faced by Sundance Catalog, a midsized enterprise that sells handmade jewelry, accessories, clothing, and home decor made by the Sundance artisan community. Their solution: Warp 9’s proxy server technology, which turns an existing online store into something more mobile-friendly, allowing the store to extend their reach to smartphone and tablet users without any additional programming.

The infrastructure for this product is based on cloud technology and is sold under the software-as-a-service model – two things that help keep costs low. The process is conceptually simple: the proxy server acts as a gateway between the online store’s website and the users’ tablets or smartphones. The retailer’s existing website is used for order processing, tracking, and everything else that the users can do on the regular site when on a regular computer.

In other words, apart from the store’s website now being easily usable from smartphones and tablets, nothing else changes; the store makes no adjustments in how it conducts business – but it radically expands the range of customers it can now reach.

And with people tending to shop more – or should we say, with people getting easier to sell to – with their mobile devices, this new range of customers is bound to create a significant boost in product sales, all at an investment cost that even midsized enterprises can afford.

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