TxtNation is bullish about mobile payments
While various mobile payment mechanisms are still battling it out for supremacy, in general the growth of mobile payments continues to be robust, according to a txtNation executive.
Mobile payments are growing worldwide, and mobile penetration rates in Scandinavia are currently amongst the highest in Europe, with every person having at least one mobile device and consumer spending being amongst the highest in the western world.
Accepting mobile payments across Scandinavia has already proven to be a hit with customers, with most preferring the instant purchase of Premium SMS as a billing mechanism, according to txtNation.
Adam Williams, Network Coordination at txtNation says: ‘For me, SMS has always been about the convenience, bundled with a degree of anonymity. Many services that utilize mobile payment rely on impulse buys. In order to get as many of these as possible, these services need to streamline the purchasing process. Mobile payment makes it quick and easy. Send a unique payment ID, for example “PAY ABC” to a short code, receive a response within 10-15 seconds—done, billed, service granted’.
Credit card payment requires users to insert their name and full address, not to mention the card details. PayPal helps, but only if you’ve got a registered account, which takes too much time in the first place and turns users off. WAP Billing, often bundled with MSISDN forwarding, is seemingly still battling with various regulators across the world.
Adam Williams goes on to state: ‘Mobile payments are on the up.’
Since the turn of the year txtNation have seen an increase of more than 38 percent in mobile payments, across the globe, just through users taking advantage of our JunglePay and mEnable payment options.
We find that many businesses are currently opting for the convenience of these pre-built solutions, rather than an API service.
Interestingly, we’re seeing more operators opening up to the idea of selling physical goods via mobile payment, by offering a slightly increased revenue share for physical goods purchases.
In the past txtNation has predominantly worked with clients from the gaming sector, offering interactive games that sell virtual currency, or providing access to a special “members” area.
More recently, there has been an upturn in enquiries from other sectors.
For example, mobile ticketing, where businesses offer their consumers the option to purchase and receive their concert or match ticket via SMS, has become very popular.
Orange’s British promotion “Orange Wednesdays” has blazed a trail for this type of service provision.
Subway and bus tickets in particular are becoming increasingly popular too, with more than 10 percent of purchases being made via SMS.
We expect see SMS growth increasing higher and higher as its continually adopted and implemented in more and more everyday life actions live buying a tube ticket or getting 5% of your aftershave as you walk it to the till.
About txtNation
txtNation is an award-winning provider of billing, content and mobile messaging solutions.
Our focus on flexible solutions, intelligently supported, has made us one of the most trusted providers in the business.
Our established connections to the world’s mobile network operators, and our ability to source new connections on your behalf, means we help your business at prices that fit every budget.
We have developed strong partnerships with industry to ensure our solutions are saleable, well-connected and secure.
txtNation is an established registered company owned and operated privately in the United Kingdom, with an excellent history of innovation and support for business.
You can find out more about txtNation and the services we offer at www.txtnation.com or by emailing sales@txtnation.com or calling +44 (0)1752273491.
