Mobile Snippet: Cards are out. Mobile is in.

A recent study conducted by Javelin Strategy & Research and PaymentOne of online and mobile buying behaviours discovered that four out of five consumers would spend more online if there was a more secure alternate method of payment. The survey suggests that online merchants are missing out on an annually, aggregated revenue of $110 billion.

Whoa. Talk about a commerce gap.

An article in cellular-news noted that the survey found that consumers believe – at a whopping ratio of four to one – that direct carrier billed mobile payments are more secure than online credit and debit card digital purchases. Phil Blank, Managing Director at Javelin Strategy & Research, said “If digital merchants simply offered consumers an alternative way to pay, such as mobile carrier based payments, 79 per cent of decisive consumers indicated they would spend more, driving significant new incremental revenue from subscriptions, transactions and purchases. 300 percent more survey respondents perceived carrier billed mobile transactions, where financial information is never shared or loaded onto the phone, to be safer than “mobile payments” requiring consumers to input credit or debit card info.”

While 95 per cent of consumers surveyed had mobile phones, only 36 per cent had used them to purchase something. We suspect that will change very shortly. A note to merchants everywhere: drop your lengthy, arduous credit card forms  (known for timing out…grrrr) in favour of a mobile carrier alternative and, well, jackpot, my friend. Jackpot.