Payment processor, Sage Pay, is partnering with mCommerce provider, The MoBank Group, enabling its 40,000 merchants to integrate onto the mobile channel via MoPowered, The Mobank Group’s PCI compliant Software-as-a-Service (SaaS) mCommerce solution.
“Mobile commerce is growing rapidly, and more consumers are using their mobiles to make online purchases. A recent study by Forrester estimated that by 2016, 14 million people will be making purchases via mobile handsets,” said Dominic Keen, chief executive of MoBank.
Sage Pay’s annual business report found that only 5% of e-tailers currently had apps, but 40% planned to invest in one within 12 months. According to the same survey, 45% of merchants stated that time and cost were the main barriers to going mobile. Another study, undertaken by MoBank, highlighted that 89% of SME retailers believed that mCommerce was a necessity for the growth of their business, but only 24% had integrated a mCommerce site.