Do People Really Buy Things from Their Phone?

Nearly every bank commercial now focuses on the idea that you can process transactions through your phone. If banks trust online transactions, shouldn’t you?

The truth of the matter is that phone-based transmission security has evolved in leaps and bounds and while many people may still feel uneasy with buying things on their phone, the numbers show that it’s gaining traction. Consider the following:

  • Smartphone users are projected to top 10 billion in total by 2016.
  • Branded apps engage mobile purchases — for example, design store Fab.com’s mobile visitors were twice as likely to make a purchase compared to desktop visitors.
  • PayPal’s mobile-based payments have grown year upon year, from $141 million in 2009 to breaking the $10 billion mark in 2012.
  • Ebay’s app gives users the ability to buy and sell online for more than $4 billion in total transactions.

If you’re asking whether people actually buy things on their phone, then chances are you probably don’t engage in that process very often. But even if you’re in that group of people, don’t ignore the numbers. The numbers are trending upward, no matter how you slice it by industry or demographic. Smartphone growth and phone-based transactions are increasing rapidly, and to omit a mobile-friendly transaction method for your website is the same as turning down business.