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The Burgeoning Mobile Payments Market

Growing Trend-Mobile Payments in San Diego, CA

In 2015, mobile payments accounted for more than $8.5 billion in retail point-of-sale transactions, known as POS. Market analysts believe that the market for mobile payments will more than triple in 2016, and by the end of this decade, the value of this market will exceed $210 billion. What does this mean for SEO professionals and owners of online retail businesses?

First of all, it is important to note that the figures above correspond to proximity mobile payment transactions, which are made by means of tapping, scanning or swiping with smartphones. There is another realm to the mobile payments arena that consists of mobile commerce, whereby smartphone and tablet users shop from their mobile devices and use their wallet apps for purchases. One example would be a couple going to the movies and paying for their tickets on the way to the theater using an iPhone.

By 2016, more than two billion smartphones users will be able to enjoy mobile commerce, which is quickly outpacing traditional e-commerce, and tech analysts estimate that there will be a high rate of adoption in this regard. This shift to mobile affects SEO insofar as the need for websites that load quickly on mobile platforms. Another aspect to consider is that mobile users are increasingly using personal assistants such as Apple Siri and Microsoft Cortana, which run on natural language processing instead of typed search queries. Also, businesses without corresponding apps might consider mobile app development in the future to retain customers and make the shopping process as easy as possible.

Mobile commerce and cashless transactions are very appealing from a convenience point of view. In the near future, mobile shoppers will focus their online queries on retail sites that are not only optimized for their smartphones but also for their mobile wallets. Just as Google has already updated its mobile search algorithm to give preference to sites that are optimized for the smartphone and tablet experience, it will not be unusual to see a similar update for mobile payments in the future, and this could be an icon of a mobile device with a dollar sign or a wallet displayed next to a search result.

If you’re still having trouble making your current website mobile-friendly, reach out to the trusted San Diego online marketing specialists at Saba, Inc. Along with our PPC and SEO services, we also offer web design and development and can help take your website to the next level. Call (858) 277-1717 and request your complimentary consultation today!