Platform providers around the world are looking to give customers and retailers new possibilities in shopping and commerce. And, as mobile devices become increasingly popular globally as eCommerce hubs, retailers are proportionally turning to mobile platforms to connect with consumers — and boost revenue.
The August edition of the PYMNTS Payments Powering Platforms Tracker™, powered by WePay, features a roundup of the last month’s headlines on how payments-powered platforms are shaping the economy, at home and abroad.
Around the Platform World
Mobile wallet platforms have yet to catch on with U.S. consumers, but elsewhere they’re a hit — and providers are looking to capitalize on that popularity.
The technology is especially popular with Chinese consumers, and mobile payment provider Alipay is looking to give Chinese citizens more ways to use the payment type at home and abroad. The company is also looking to make 90 percent of domestic transactions in China cashless within five years — and recently targeted South Africa as part of its expansion efforts.
Meanwhile, Stripe is heading to Singapore. The company is betting on mobile payments to become more popular in the country in the coming years, as it became the latest big name payment provider to expand into the country, joining Apple Pay and Android Pay.
For more of the latest notable headlines from around the Payments Powering Platforms space, check out the Tracker.
Evolving Mobile Platforms, with Retail in Mind
And while mobile wallets haven’t found the same popularity in the U.S. that they have in Asia, mobile devices themselves are more ubiquitous than ever — and so is mobile shopping. As mobile technology continues to progress, platform developers are working to create mobile eCommerce experiences that rival those of actual physical store locations.
In a recent interview, Stephan Schambach, founder and CEO of commerce and shopping platform NewStore, told PYMNTS’ Karen Webster how the company is working to build a mobile platform that can combine the best aspects of mobile and in-person shopping.
“Shopping has become a streaming activity,” NewStore’s Stephan Schambach said. “Consumers want to check inventory, browse products, place orders and write reviews at their own convenience — on a mobile phone. They want to create a shopping experience at any time they want, tailored specifically for them.”
To read this month’s feature story, download this month’s Tracker.
To download the August edition of the PYMNTS Payments Powering Platforms Tracker™, powered by WePay, click the button below.
The PYMNTS Payments Powering Platforms Tracker™, powered by WePay, serves as a monthly framework for the space, providing coverage of the most recent news and trends, along with a provider directory highlighting the key players contributing across the segments that comprise the payments-integrated platform ecosystem.