When cellphones first gained widespread popularity in the 1990s, it was impossible to imagine that the technology would reach the stage it is at now. With an ever-growing number of applications available, how have some of the most popular uses for these devices changed over time to make it easier and more convenient to carry out everyday tasks?
Mobile Commerce Is Taking Over Desktop Shopping
The term “mobile commerce” was first used in 1997, when more than 100 businesses joined the new Global Mobile Commerce Forum. A year later, consumers could buy digital content for the first time, although all that was available at first was downloadable ring tones for Finnish users. By 1999, a couple of platforms had been launched in Asia and by the start of the new century, people in different countries could buy a few things, although the choice was still extremely limited.
The biggest change since then has been the way that mobile commerce moved over from SMS messages to mobile apps, with some analysts pointing to the arrival of the first iPhone in 2007 as a key factor in this trend. 2008 saw the first Android smartphones sold, while the App Store and Google Play Store appeared that same year to give us an easy way to choose and pay for new apps.
In the last few years, the speed of mobile adoption in this sector has been dizzying, with an estimated 54% of all eCommerce sales now carried out via smartphones. This increase has been driven by new technology, such as payment methods like Google Pay, Apple Pay, and Amazon Pay. Some reports suggest that 79% of smartphone users in the US have made a mobile purchase in the last six months, while the Asian market makes up more than half of the global total.
Mobile Betting Growth Is Particularly Strong in the US and Asia
This is another area where huge changes have been seen in the last few years. The UK’s Mobile Lottery was said to be that country’s first mobile betting venture when it launched in 2003. Most of the early advances in this industry were made in Europe, as many countries here adopted regulations to allow this to happen.
Currently, Asia and the US are arguably the fastest-growing markets in this industry worldwide. The American mobile betting industry is reaching new audiences thanks to the fact that sports betting is now available in states such as Michigan and Virginia from 2021 onwards, with mobile wagering proving to be popular among the new members who have signed up.
Many of the biggest names in the industry have mobile apps available for customers to use, including 888Sport and LVBet, allowing them to adapt to the fast-changing markets. In addition, we can see that many offer live streaming or real-time stats to make in-play betting easier. It Is also worth noting that 24/7 banking can be carried out on these apps using a range of different methods, these are among the features that have contributed significantly to the popularity of these sorts of apps in Asia and the US.
Mobile Banking Has Transformed How We Handle Our Money
As with mobile shopping, banking on these devices was first carried out on an SMS basis in the early days. The introduction of new technology, such as the wireless application protocol in 1999, meant that banks could offer a more complete service to their mobile customers. Many banks also continue to use SMS messages to communicate swiftly and cheaply with their account-holders.
The most important changes came from 2009 onwards, as British bank RBS launched the first true mobile banking apps, firstly on iPhones and then for the Android market. In 2020, over 86% of Americans checked their bank balance on a mobile device. A survey by Ipsos-Forbes showed that 35% of people thought the mobile check deposit feature was the most useful on banking apps, with 33% saying it was the ability to view balances.
Mobile-only banking has been among the latest services to take advantage of the increased security features and artificial intelligence now available. These banks don’t have any physical branches but allow easy account setup using biometric security measures and many use predictive analytics to provide a smart, future-focused experience. Added to advances in general phone security, mobile banking is now regarded as being safe and secure.
It seems certain that the mobile industry will carry on evolving as new opportunities arise. Keeping an eye on these three key sectors allows us to understand what new technology is being introduced and how it is being used to make life easier for us.