Mobile Commerce Growth Stymied by Purchase Process

Yes, mobile commerce is growing, with 68% of smartphone and tablet owners attempting to make purchases with their devices. But note that they are only "attempting" to buy. Problems during the payment process force 66% to abandon their transaction, according to a new report from Jumio. Its “2013 Mobile Commerce Insights” study found that 47% said they had failed to complete a purchase because the checkout process took too long. Some 41% percent of consumers reported failure to complete a purchase because it was too difficult to enter credit card information, and 23% said they failed to complete a purchase because it would not go through. Finally, a majority of respondents – 51% – said they failed to complete an attempted purchase on a mobile device because they did not feel comfortable entering their credit card information for security reasons. The lesson for retailers: streamlined processes, mobile-friendly entry screens, and better communication about security. For more on the study, go to http://www.mobilecommercedaily.com/66pc-abandon-mcommerce-purchases-because-of-issues-at-checkout