The hype surrounding m-commerce often paints e-commerce as the defunct older sibling. Yet without its predecessor, m-commerce's success would not be as clear cut and foreseeable as it is today. Most commonly associated with online shopping, e-commerce refers broadly to the exchange of goods and payments through the Internet. While e-commerce has been chastised for its lack of mobility and dependence on an Internet connection, its ability to convert browsers to buyers, familiarity and overall sustained success make it a contender in the digital landscape.

M-Commerce: The Next Generation of E-Commerce

In my opinion, m-commerce is one of the most exciting and noteworthy trends in e-commerce. Capable of fostering business anywhere, m-commerce is the process of buying and paying for goods or services on mobile devices such as smartphones or tablets. The spectrum of m-commerce transactions is growing rapidly with the most popular including mobile media, travel purchases, online banking and retail services.

The M-Commerce Gap

Though wildly popular among consumers, m-commerce has lagged behind in terms of bringing in dollars. According to a Q1 2015 comScore study, users spent 59% of their time using mobile devices compared to the 41% spent on desktop computers. Disproportionately, however, 85% of virtual dollars were transacted on a desktop while only 15% were processed on mobile devices. The 44% break – the difference between usage time and conversion to sales – is what industry experts are calling "the m-commerce gap." M-commerce, although novel and exciting, has yet to stake its claim as the revenue generator that e-commerce continues to be.

Keeping the needs of customers in mind, a well-designed m-commerce app and strategy delivers a purchasing experience worth repeating, thus increasing the likelihood of sales across touchpoints. Examples of this include:

• Choosing function over form: Visual aesthetics are important, but a design that accommodates speed and repeatability is the primary goal. Incorporating payment processing features such as credit card vaulting, pre-authorization on transactions and one-touch payment functionality can enhance the mobile experience by way of a cooperative payment partner.

• Optional account creation: Allowing repeat users to establish accounts accessible on mobile and online platforms increases the likelihood of sales. However, requiring shoppers to create accounts may result in a loss of business as some users might only be seeking a one-time purchase. Offering both guest and repeat user options covers all of the bases.

• Constant communication: A lack of consistent interaction prompts about 60% of shoppers to ditch mobile searches without completing the transaction. Companies need to create ways to virtually "talk" with customers. Checkpoint notifications, processing updates and purchase histories are techniques that prompt them to follow through on sales.

Chester Ritchie is senior vice president for Worldpay. He can be reached at 866-505-5965 or [email protected].