WorldPay has announced a new partnership with m-commerce platform provider The MoBank Group. The partnership will make MoPowered, The MoBank Group's secure mobile commerce system available to all merchants using the WorldPay payments gateway, providing a one-stop-shop for merchants seeking to trade through mobile.
The partnership will allow WorldPay customers to take full advantage of the opportunities provided by mobile commerce, allowing them to generate new revenues while providing their customers with greater choice and flexibility.
Mobile commerce is growing rapidly, as more consumers use their mobile to make online purchases. Recent research conducted by WorldPay* found that nearly a quarter of consumers currently use their mobile for shopping, with this figure reaching 50% among iPhone users. This trend is set to increase, with more smartphones sold in the fourth quarter of 2010 than PCs, and recent reports indicating that users spend more time using mobile applications each day than accessing the internet using a desktop computer or laptop.
The MoPowered platform allows brands to have a fully developed mobile strategy with an application on all the major operating systems and a mobile-optimised website. WorldPay customers that implement the platform will enjoy the same high levels of security through the mobile channel as through their e-commerce platform, as the system is fully compatible with 3D security schemes such as VerifiedByVisa and MasterCard SecureCode. The MoBank Group has extensive experience of working with major brands on maximising conversions through the mobile channel.
"Our customers are excited about the potential for mobile commerce to transform their businesses. WorldPay is developing a best in class set of solutions for businesses off all shapes and sizes. MoBank's MoPowered system has been tried and tested by some major Ecommerce brands and we look forward to working together to bring the benefits of mobile commerce to many more businesses" says Shane Happach, Chief Commercial Officer at WorldPay.
Dominic Keen, CEO of The MoBank Group, commented: "We are delighted to partner with WorldPay to help all their merchants build revenues by processing secure transactions though the mobile channel. Mobile commerce is an essential part of multi-channel retail. The market has grown by 25% in the past six months and Gartner Research has predicted that it could account for up to 12.5% of e-commerce transactions by 2013. Optimising websites and creating native applications for smartphones is already a necessity for merchants as 20 million people connected to the web from their mobile phone in the UK in the last year."
* About the research
Research conducted through an online poll by Consensus Research, on behalf of WorldPay, amongst 1,023 consumers in late 2010 and early 2011.