During 2019, there was a record-breaking online sale amount for Cyber Monday. The amount reached over nine billion in sales. For this same year, research shows that sales using mobile phones are up by nearly 50 percent from the year 2018, showing clearly that more consumers are choosing to shop online by using their cell phones and other mobile devices such as tablets.
Mobile shopping
Shopping online has distinct advantages and if you are ready to save, it is a good idea to be ready to make an online payment as there are a lot of online sales that provide you with great deals like on a Cyber Monday. Most digital businesses already know that is a must to prioritize the shopping experiences of their target market. The experience should be seamless and fluid as this is the preference of the users. Certain shoppers may choose to begin their journey through the sales funnel by using their desktop computer and then might decide to complete their payment transaction by using their cell phone or vice versa.
Instant payments
Nowadays, there are so many things that are instant that makes our lives so much easier. We have instant coffee and other food products that are ready-made. We are accustomed to buying from fast food places as these provide instant service. Then, we have instant payment transactions that credit our account with the amount sent in less than a few minutes.
Instant remittance
One of the most common ways to send an instant remittance is with the use of an electronic wallet, also known as an e-wallet or a digital wallet. This instant payment is done with the use of a peer-to-peer app. To be able to send or receive funds, both the sender and the recipient must have an account with the same e-wallet. These electronic wallets can store the funds that are sent. The debiting and the crediting of the account is instant as the balance is updated right away.
Recorded transactions
When we deposit money in a bank or make a payment transaction at a retail store, we will be given small pieces of paper that are valid receipts. When we use an e-wallet, all the transactions such as it being loaded, sending, and receiving payments, are recorded. These recorded transactions may also be sent to our email accounts. The record of the transaction is kept in our e-wallet and that of the other account holder.
Pay with ease
Our mobile lifestyle makes us become accustomed to things happening instantly. We have instant messaging services that we use all the time. When we use our mobile devices to order food, products, or services, it is necessary for us to be able to pay with ease as if we encounter difficulty, we become impatient. Our constant use of our mobile devices makes us save time, and those few minutes of trying to fill out a form might frustrate us and make us drop the cart.