Tablets processed $28.7 billion during 2013

In 2013, tablet devices were responsible for $28.7 billion. That amount is more than 5.5 times higher than tablet transactions made in 2012.

The numbers were provided by Javelin Strategy & Research and emphasize the growing adoption of tablet computers over their desktop based counterparts. With the $28.7 billion in transactions throughout 2013, tablets processed over 50% of all mobile transactions. All in all, around $60 million were transacted through mobile devices in 2013 according to Javelin Strategy & Research.

The main reason for the overwhelming increase in mobile Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term placed from tablets is due to the increase in ownership. As more users decide to use tablets over laptop and desktop PCs, an organic shift to use these devices for purchasing online is expected. As this numbers is predicted to continue to grow, Javelin’s research stated optimizing the web experience and/or offering mobile and tablet applications should be “top priority for merchants and other parties looking to capitalize on the growth of mobile online payments”.

“Mobile consumer purchasing habits are evolving from purely app- or browser-based purchasing toward both methods in tandem. While functionality should differ between the two methods, it is also critical for vendors to ensure that the user experience is similar for both methods so that crossover is frictionless. Similar visual elements and layouts should be used to simplify the process and build a recognizable brand experience,” said Mary Monahan, executive vice president and research director of mobile at Javelin Strategy & Research.

Smartphones and tablets proved to be primary shopping channels this past holiday season. Other reports show an increase in mobile payment adoption all over the world. 2014 is predicted to show another increase in smartphone and tablet ownership causing another increase in mobile spending.

Source

Image courtesy of Wikimedia