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Mi-Pay Group Plc

Cyber Monday shoppers embrace mobile purchases like never before

Mobile shoppers crossed a threshold on Cyber Monday, as Adobe Analytics data shows more than $2.2 billion in sales came from smartphone users, representing the biggest single-year increase and the first time mobile accounted for a majority of online transactions.

Smartphone transactions rose a record 55.6% from year-ago figures and reached a record 54.3%, according to a press release.

Data shows a surge of shoppers buying through their mobile devices and picking up merchandise inside the physical store, part of a growing trend by brick-and-mortar retailers to capture online shoppers while maintaining the in-store traffic. Shoppers buying online and picking up in-store rose 65%from the year-ago period.

Founded in 2003, Mi-Pay Group plc (LON:MPAY) delivers fully outsourced online and related payment and fraud management solutions to digital ecommerce clients, primarily in the mobile and digital content sector. Its product offering provides the infrastructure to enable pre-paid mobile devices to be topped up via a variety of channels such as websites, mobile applications and social media applications and customers include Mobile Network Operators (MNOs) and Mobile Virtual Network Operators (MNVOs), additionally managing and indemnifying the data security and payment fraud risks. Mi-Pay sells, integrates and operates its products and solutions on a global basis. 

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.