By 2020, nearly 33% of merchants say the mobile channel will account for at least half of their total revenue. This, and other mobile-payments insights, come from the Kount Inc. 2018 Mobile Payments & Fraud Survey released Thursday.
Now in its sixth year, the survey of almost 600 merchants found that challenges abound for merchants in the mobile channel. Of the most common challenges, 60% cited maintaining ease of use for customers, followed by the ability to detect fraudulent order attempts, at 52%.
Such concerns play a role in improving the conversion rate for mobile commerce, which is the rate of sales out of total site visits. M-commerce conversion rates typically are not as good as for desktop e-commerce sites. Many consumers find it unwieldy to input their credit or debit card numbers and billing and shipping addresses on smaller touch screens.