Mobile Commerce Vs. An Internet Payment Service Provider: What You Should Know
Internet payment service providers have revolutionized the way in which modern consumers purchase the majority of all of their products and services. An internet payment service provider offers the convenience of direct access to your funds without the needing to carry large amounts of cash with you. They also provide merchants and shops with the ability to accept electronic payments online.
At Allied Wallet , we are a leader in the safety and security of electronic commerce transactions. We have built our business around PCI-DSS Level 1 Compliance as an established internet payment service provider.
Throughout the world, thousands of merchants place their trust in Allied Wallet. Since 2006, we have processed over a billion dollars globally in 164 currencies. Both consumers and merchants trust the services that we provide.
With the dawn of the smartphone age and the ever-changing world of modern technology, consumers seem to want an even more seamless and trustworthy way of paying in-store and online. There is now a slight shift in the way in which you can purchase products other than the process provided by an internet payment service provider.
What Is Mobile Commerce?
Mobile commerce is the delivery of electronic commerce capabilities directly into the consumer’s hand, anywhere, by means of wireless technology. This means that your phone can act as your new credit card.
The Centre for Economics and Business Research (CEBR) found that non-card and non-cash payments, which include mobile payments and coupons, are set to grow from 9.3% of all retail transactions today to 19.6% by 2019. CEBR found that the preference from an internet payment service provider to mobile commerce is greater among younger consumers. A third of people aged 18-34 have used their mobile devices for purchases.
With any new technologies and payment transactions, there are, of course, certain risks that are associated with them. These are the concerns that you should be aware of regarding your choice of mobile commerce versus e-commerce.
Smartphone and Security
Certain smartphones have previously been attacked by virus-carrying apps. Those apps could potentially steal information that had been saved on those devices. This is a major issue when deciding to rely on the new service of mobile commerce or relying on the security that is in place with an internet payment service provider such as Allied Wallet.
Smartphone developers are implementing steps for enhanced security measures. Google, which created the Android, has made statements that its newer software will be more secure. Apple took a cautious approach and announced that it will personally review each app before it is available to download by iPhone and iPad users.
It will take time for all parties involved in the implementation of mobile commerce to be aware of risks and prevention methods. However, it can “safely” be assumed that mobile payments are here to stay as more and more consumers want to be able to purchase on the go.