Mobile technology has grown to be very significant in people’s lives. It has reshaped how people spend, play, and live. With just a few taps, people can make money transactions, shop, or enjoy any games they want, anywhere and anytime. From digital wallets to games, here’s how mobile technology is changing how people transact and access entertainment.
Mobile Gaming
As gaming and technology always go hand-in-hand, the changes in the gaming industry have been significant in recent years. Mobile technology is one of the influences that reshape how gamers can enjoy their favorite entertainment. Most people now own at least one mobile device, be it a smartphone or tablet. Thus, the gaming industry follows the demand and offers greater accessibility to its products.
With mobile devices, games can now be played anywhere and anytime. Developers see this as a new market they must break into. Thus, developers started releasing mobile-centric games.
Even classic entertainment like casino games is now shifting into the mobile market. Online casinos started providing mobile pokies, apps, and ensured that various devices could access the games. Websites are optimized for mobile browsers as well, providing a smooth run on handheld devices.
If there’s one persistent weakness in the gaming industry, it’s the cost of gaming consoles. They can be expensive, which makes it hard for people to enjoy the games offered. Mobile devices give more chances for people to enjoy games and increase developers’ reach to more players.
What Has Changed From the Traditional Gaming Era
With mobile devices’ popularity increasing daily, it’s clear that many industries have started to prioritize mobile access. Mobile adaptation became the trigger that forced traditional gaming companies to adapt to the changing trend. If not, they would likely not survive the rapidly changing gaming landscape.
With devices enhancing accessibility, the gaming industry acquired a wider reach. Games don’t have to be tied to a specific console. Yet, convenience and portability have become pillars that developers must always consider.
As more mobile games launched, gamers saw more free-to-play games. Still, gaming companies must find a way to monetize their game to make a profit. Thus, mobile technology introduces new ways to monetize games, such as in-app purchases and ads.
Mobile Payment Technology
The way people store money and use it for transactions has changed significantly due to technological advancements. Now, multiple apps and software make it possible for people to pay using their phones without the use of physical cash or cards.
Ever since smartphones have included an NFC feature, mobile payment usage has risen. The internet connectivity has also evolved. It makes digital payment services faster and easier to use for a broader audience.
Not only for purchases, mobile banking is also capable of handling loan payments. Consumers living busy lives can quickly settle their bills, make purchases online without having to leave their homes, and even make international transactions.
Mobile Payment Ecosystem and Consumer Behavior
Currently, the world has seen multiple big players in the digital payment ecosystem. There are e-wallets like PayPal, Apple Pay, and Alipay that most people regularly use. Globally, however, WeChat and Alipay are the two biggest players.
The creation of digital payments also influenced consumer behavior, which set a new standard for industries. Due to e-wallets, consumers are highly used to quick, seamless checkout. Most retailers and restaurants are required to adopt contactless POS machines and accept common digital wallets.
Following the trend for contactless payments, many services and brands further release innovations like Apple’s tap-to-pay feature. This feature doesn’t require additional hardware, but relies on their digital payment processing software. By only tapping their phone once, consumers can now finish their purchase.
Mobile Payments and Gaming
As digital innovations make payments more instantaneous, the gaming industry must follow suit. Although most gamers still make payments by cards, fintechs are still trying to integrate instant payments into video games. This ensures that platforms accept more payment methods that cater to every region.
Many games now convert players’ purchases into in-game currency. Players then spend their purchased in-game currencies to buy in-game items. As players can make microtransactions throughout the game, it gives them more transparency. Gamers will know what they’ve bought and how it affects their experience.
The speed of digital transactions is also beneficial for the gaming companies. As it’s easy to purchase gaming items or features, more players feel inclined to spend.
