Sage Pay and MoBank partner up for mobile commerce services
Friday October 19 2012
Sage Pay has announced a partnership with The MoBank Group.The partnership will enable Sage Pay’s 40,000+ merchants to integrate onto the mobile channel via MoPowered, The Mobank Group’s secure Software-as-a-Service (SaaS) mCommerce solution.
This means Sage Pay’s customers will be able 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.
Dominic Keen, Chief Executive of MoBank explains: “Mobile commerce is growing rapidly, and more consumers are using their mobiles to make online purchases. A recent study by Forrester estimated that by 2016, 14 million people will be making purchases via mobile handsets.”
Merchants are increasingly looking to integrate onto the channel to ensure they are ready for the rapid upsurge in mobile buyers.
This was highlighted in Sage Pay’s annual business survey “The e-business benchmark report” which found that only 5% of e-tailers currently had apps, but 40% planned to invest in one within 12 months. This is further supported by a report undertaken by MoBank which found that 89% of SME retailers believed that mCommerce was a necessity for the growth of their business, but only 24% had integrated an mCommerce site.
In Sage Pay’s study, 45% of merchants stated that time and cost were the main barriers to going mobile. The MoPowered platform has been developed with SME merchants in mind and has therefore addressed these issues. Merchants can achieve a fully transactional mobile commerce site within a matter of weeks that is fully compatible with payment card industry data security standards (PCI DSS). Additionally, a flexible pricing model utilising pay per performance models has been developed to suit this market.
Speaking about the partnership Keen says: “We are passionate about helping retailers of all sizes to take advantage of the opportunities offered by mCommerce and are looking forward to working with Sage Pay and their clients.”