A mobile phone, nowadays, is more than just a simple calling device, technology has transformed mobile devices from a communication tool into a powerful gadget. In this day and age, smart phone users can conveniently shop anytime, anywhere by simply using their smartphone to shop and pay online. All that required is just a few taps on their mobile devices.

According to a recent survey carried out by Business Insider, 83% of survey respondents said they have already been using some form of mobile banking app on their phone. This means that the mobile payment market has now matured and achieved mainstream public adoption. And since mobile payment has achieved a mass public adoption, digital/mobile payment should now be considered as a priority for business rather than just an option. A company operates in finance or retail business will be able to benefit tremendously and stay ahead of the competition when implementing a mobile payment solution.

In addition, especially with e-commerce, mobile payment solutions are beneficial to both businesses and their customers by making it easier and more convenient for users to purchase and make payments directly on their phones while helping businesses increase sales and reduce overheads.



What is mobile payment?

Basically, mobile payment generally referred to payment services operated under financial regulation and performed from or via a mobile device [1] without  the need of using any cash or debit/credit card.

 Examples of popular mobile payment technology and solution

 Mobile proximity payment technology:

  • Near-field communications (NFC)
  • QR-code payments
  • …etc.

 Mobile remote payment solution

  • Web-based payment solution
  • Mobile application-based payment solution
  • …etc.

With mobile payment starts going mainstream, the opportunities for companies implementing payment solutions of all kinds are increasing as well. Innovation in technology will help enable further adoption of next-generation digital transactions.

How to build an effective mobile payment solution?

A successful mobile payment solution will need to focus on the following key areas: customer experience, security, scalability, multi-platform and innovation.

Customer experience

As the paradigm has shifted from desktop to mobile internet, it’s clear that businesses need to pay more attention to their mobile customer experience as this trend continues.

Businesses should start focusing on mobile customer experience right at the moment when planning the strategy for their mobile app development. Mobile customers experience might be accomplished by incorporating the following steps such as providing a customer-centric, personalized offerings, tailoring to users according to their specific interactions, and prioritizing the in-app search etc.  All of this will help to improve customer experience and egagement with the mobile app.

Security Requirement

Apps and mobile devices are increasingly becoming targets for malicious activity. Handling customers’ sensitive information should be done adhering to the highest security requirement. As customers will use their mobile payment app more and more in many ways to perform financial transactions, the app developers behind the application will need to pay extra attention ensuring the necessary security steps such as applying up-to-date best practices in data encryption and protection are being implemented.


Because the number of app users will grow in time, mobile app scalability will be vital to the success of the app. During application development process, businesses need to plan in advance to equip the app the capacity of handling the growth of users well in the futureAn optimal mobile app scalability will help business to retain and deliver pleasant user experience regardless of the number of users increased.

Failing to develop a mobile application for scalabilty will cause users to become disengaged and leave the app as it will not be able to offer a similar pleasant mobile experience across multiple platforms and multiple devices as the app user base increases.


Leveraging from the increasing availability of data, businesses should be able to identify which type of mobile devices and platforms their customers are used to. Based on such insights gathered, business will be able to invest in a mobile payment solutions that can operate effectively across multiple devices and platforms including Android and iOS, the two dominating forces in the mobile market. 

New technology

As mobile payment has begun gaining public trust and adoption, companies should devise a plan to start integrating payment solutions for the growth of their business. With technology advances day by day at a lightning speed, businesses will also have more options to choose from when making and accepting payment through mobile devices. However, implementation is usually a complex process.

New business models, innovation in technology, and next generation of digital transactions all play important roles on increasing the effectiveness of mobile payment.

If your company operates in the financial services industry or simply require a mobile payment solution for your business, feel free to contact us today for an instant consultation with our experts. We’re more than happy to talk and help with your requirement of mobile solution.


  1. https://en.wikipedia.org/wiki/Mobile_payment