March 6, 2012
The option of using your mobile to make payments for different items that you purchase is fast becoming reality with several major players coming up with a suitable interface to use for this purpose. Due to the high reach of mobile phones in cities all over the world today, development of mobile payment options is likely to benefit e-commerce in a massive way. Today, more people around the world possess mobile phones than those that possess laptops or personal computers. With the prices of mobile phones reducing year after year and the development of technologies that help process mobile payments in a secure and simple manner, the usage of mobile phones for effecting payments and completing transactions is likely to grow by leaps and bounds. There are several benefits associated with mobile payments for companies engaged in e commerce.
Using mobile phones to make payments is a much easier method than carrying bulky cash or credit cards. Users are also the least likely to forget their mobile phones at home as they require this device for several other purposes and thus tend to carry it everywhere with them. A mobile phone is not only easy to carry but has the least chances of being lost or misplaced when compared to other means of payment like credit cards and hard cash. There is zero paper work associated with making mobile payments as the user generally has to fill in a password or provide other identifying information depending on the kind of application being used for making payments. Customers do not need to sign any bills or keep any receipts for providing proofs of transactions later on as a permanent record is created on the mobile payment account itself. For businesses engaged in e-commerce, this can be highly useful as the ease of use associated with mobile payments makes people more liable to go in for purchases that they would not have considered otherwise.
Mobile payments can also be advantageous for e commerce in the sense that vendors do not need to come up with separate payment mechanisms of their own. There is also a greater deal of security and safety of transactions conducted through the mobile phone as compared to other payment methods.
We at Centex Technologies provide complete Ecommerce Solutions including payment gateway integration, ecommerce application, APIs etc. We also provide SEO services to our clients.