In a recent set of studies complied by Rutgers Online, the university’s department of AACSB online MBAs revealed that more than $200 billion in mobile payments were fulfilled in 2015. That number grew exponentially last year, which means it is an even bigger market to tap into in 2017. Ecommerce sites are already taking active steps to improve their mobile shopping experiences, either through native mobile apps or by optimizing their mobile storefronts even further.
Security will also be a big factor to focus on. 77% of Americans who are using their credit cards online are still concerned about the safety of their personal information. The introduction of EMV chips in newer credit cards as well as systems such as Verified by Visa and MasterCard’s 3D Secure have been put in place as answers to this challenge.
Find more interesting facts about mobile commerce from the Credit Cards and Mobile Payments: What Your Business Needs to Know for Now and the Near Future infographic
[via Rutgers Online]