• Mobile Commerce News, Wednesday, April 1, 2015 10:11 AM

Mobile commerce is gaining traction throughout the world, but MasterCard’s global chief, Ajay Banga, is not yet convinced that people should replace their credit cards with smartphones. Mobile commerce has managed to attract support because of its convenient nature, allowing consumers to shop for and purchase products using only their mobile devices. This has provided consumers with an effective way to shop online from wherever they are and has streamlined the e-commerce experience for some retailers. According to Ajay Banga, more value should be added to mobile commerce platforms. Currently, the majority of these platforms only provide consumers with the ability to pay for products and services using a smartphone. This works in much the same way they credit cards do, which makes mobile commerce platforms somewhat redundant. Moreover, mobile platforms have not yet had the time to become as secure as credit cards, which could expose some consumers to risks when participating in mobile commerce.

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