In MEF’s report on mobile money it details how the worldwide growth in mobile payments adoption is strongly influencing consumer attitudes toward mCommerce in a positive manner. MEF’s report goes on to put the spotlight on the importance of mobile money users to the overall mCommerce market as mobile money users are 26% more likely to make purchases via mobile application or mobile web sites on mobile devices.
The report continues on to detail how mobile money users are more likely to make higher-value purchases via mobile devices.
Increasingly markets are seeing a rise in consumers who prefer not to use cash for purchases. Just as markets saw the rise of consumers who made payments via credit or debit cards, markets are now seeing growth in mobile money users and cash use is on the decline.
“With the growth of mCommerce,” says Kimber Johnson, Managing Director, Vanity Point, “we are seeing proactive businesses setting themselves apart from their competition by offering an additional level of convenience with mobile payment options.”