Tag: china mobile commerce

China’s UnionPay to launch new mobile payments service

| December 2, 2014

Competition is heating up in the mobile commerce field as large companies launch their own payment services

Competition among large companies participating in the mobile commerce field is heating up. Apple has delivered a strong blow to its competitors by entering into the field with its own mobile payments service, called Apple Pay. The service has a veritable armada of retailers supporting it and has also helped many consumers participate in mobile commerce. The service has also had an unintended effect, as Apple competitors have reported that they have seen a dramatic increase in mobile payments made through their own services since Apple Pay was launched.

UnionPay announces plans to launch new payment service called Android Pay

Apple Pay may soon have a very powerful competitor that aims to establish dominance in the burgeoning Asian market. China’s UnionPay, the largest financial service institution in the region, has announced that it will be launching its own mobile payment service, based on the Android operating system. The service, simply called Android Pay, us expected to significantly increase mobile commerce adoption throughout China.

New payment service is expected to use NFC technology to facilitate transactions

Mobile Payments launched in ChinaAndroid pay is expected to make use of NFC technology. If this is the case, UnionPay is likely to subsidize the cost of NFC-enabled SIM cards or other solutions, allowing consumers to make use of the service even if their mobile device does not have NFC capabilities of its own. The new platforms security features are still unknown, but it may be difficult for the Android platform to compete with Apple’s use of biometric technology to keep consumer information safe.

China continues to grow as a prominent mobile commerce market

China has become one of the most attractive and active mobile commerce markets in the world. Large retail groups, such as Alibaba, have been promoting mobile shopping among consumers for some time now and Chinese consumers have shown that they are willing to embrace mobile commerce. UnionPay may find significant success with its new mobile payments venture, if it can find a way to ensure the security of consumer information.

Alibaba finds success in mobile commerce

| November 17, 2014

Mobile strategy helps Alibaba set a new Singles Day sales record

Alibaba has set a new Singles Day sales record this year. Singles Day is China’s equivalent to Black Friday in the United States and is one of the country’s largest shopping days of the year. Alibaba, and other retail organizations, often set their sights on Singles Day as a chance to recover from any financial losses they may have seen over the past few quarters. This year, Singles Day has proven to be a major success for most retailers, especially those focusing on mobile commerce.

$9.3 billion in sales were made by Alibaba on Singles Day this year

According to Alibaba, more than $9.3 billion in sales were made during Singles Day, a significant increase over the $5.8 billion the company saw during the same day last year. This monumental success has driven Alibaba’s shares on the New York Stock Exchange higher as investors see more hope in the company’s retail endeavors. Much of the company’s success has been because of its focus on the mobile commerce space, which has become quite active throughout China.

Mobile commerce is thriving in China

Mobile Commerce SuccessChina is home to the world’s largest mobile Internet user base, with more than 527 million active users. These people are quite interested in shopping online from a mobile device and regularly use a wide range of mobile payment applications on a daily basis. During the second quarter of this year, some $27 billion in mobile spending was reported in China, accounting for 26% of all online transactions made in the country. By 2016, mobile shopping is expected to account for more than 50% of all online transactions made in China.

Alibaba to continue focusing on the mobile space

Alibaba’s strategy to engage mobile consumers has proven to be particularly successful. The company has been investing more heavily in the mobile space in recent years, hoping to capitalize on the popularity of mobile commerce. Alibaba plans to continue focusing on the mobile space for the foreseeable future, hoping to establish yet more dominance among mobile consumers.