LOUISVILLE, KY – Are merchants going about mobile commerce
all wrong? According to a new study released by Jumio Inc. and conducted by
Harris Interactive, more than two-thirds (68%) of smartphone/tablet owners have
attempted to purchase a product on their device, while two-thirds (66%) failed
to complete a transaction due to obstacles encountered during checkout, Mobile
Payments Today reports.
"Businesses invest a great deal to get consumers to the
point of sale in their mobile apps, but there are a lot of obstacles keeping
users from taking their purchase across the finish line," said Daniel
Mattes, founder and CEO of Jumio. "From frustrations around having to type
— and often retype — personal information into tiny text boxes to concerns over
the safety of data, users are bailing out at checkout. Brands can't afford to
lose shoppers in those final moments of the transaction."
As a result, Jumio advises in its 2013 Mobile Consumer
Insights study to make the checkout process faster. Nearly half (47%) of
respondents said they abandoned a mobile purchase because the checkout process
took too long, while 41% said checking out on their mobile device was too
difficult.
"Consumers will continue to demand a simpler, more
streamlined mobile payment process," continued Mattes. "Until
retailers address their important concerns – from providing faster checkout
options to addressing the safety of credit card and account info — they'll
continue to see a large portion of their customers abandon their shopping carts
instead of clicking 'buy'."