According to a report from MasterCard, the Asia Pacific region is expected to have one of the fastest growing mobile-payments markets as consumers in the region consider mobile commerce a more convenient way to purchase products, which the credit card company says has lead to a growing demand for mobile payment services and platforms that accommodate mobile shopping.
Approximately 54% of Indonesian consumers made mobile payments over the same three month period of the Mastercard study, with China and Thailand accounting for 53% and 51% respectively.
Mastercard also says that mobile payments are becoming increasingly common throughout the Asia Pacific region due to the abundance of mobile technology.
According to Dan Wagner, CEO and Chairman of the mobile payment service, mPowa, there’s also expected to be a drive towards banks offering mobile payment services to their business customers.
Wagner says partnerships are already being sought to build comprehensive systems that can facilitate mobile payment services effectively, and that mPowa has already signed a successful deal with First National Bank in South Africa and is now expanding into the Asia Pacific region to reach similar agreements.
mPowa works by inserting a credit card into a compact card reader, which then communicates with a mobile device via Bluetooth, enabling merchants to accept payments on the move, with Wagner suggesting this type of service will boost productivity and convenience for businesses and also help to increase take up of smartphones created by the likes of Google, Apple and Nokia.
The company recently announced that it is working with Portugal Telecom, one of Europe’s largest telecommunications companies.
According to Wagner, under the breakthrough agreement, "the first of its kind in Europe," Portugal Telecom will employ the white label service offered by mPowa.
“Our strategy of white-labelling the mPowa mobile technology to banks and telcos in the Asia Pacific region is expected to attract a great deal of interest, Wagner predicts.
“This solution will help thousands of business users to leverage the multiple channels, generating sales on their mobile devices. mPowa offers our partners a simple and robust commerce infrastructure which is fully flexible and customisable, and with which they can start tapping into growing areas of new business.”