MasterCard to create mobile app index

Source: MasterCard

At the World Retail Congress today, MasterCard announced the start of a unique pan-European index to map all publicly available mobile shopping apps in Europe named the Mobile Top App Index by MasterCard.

The Index is set to discover the best mobile shopping apps across the diverse markets of Europe and reveal how consumers are embracing mobile technology when shopping on the go. The best mobile shopping apps in Europe from 20 categories will be announced at the Mobile World Congress in March, 2015.

“As innovation goes hand in hand with growing consumer demand, our ability to shop with a mobile device has never been easier. MasterCard is a technology company connecting banks, retailers and consumers. Our Mobile Top App Index will highlight the most outstanding solutions in the mobile shopping app arena for the benefit of European consumers and retailers,” said Javier Perez, President MasterCard Europe.

The Index will rate all mobile apps across 36 European countries. A dedicated team of MasterCard experts, in close cooperation with Dr Carsten Sørensen, Associate Professor (Reader) in Digital Innovation at the London School of Economics and Political Science, are evaluating the apps. Dr. Carsten Sørensen commented: “The diversity of available smartphone apps fundamentally changes the way people think about their tasks, and the close relationships people forge with their smartphones creates demand for innovative apps of high quality. As shopping is one of those things we do on a daily basis, MasterCard’s Top App Index has the potential to help consumers find the shopping app they need and it will act as a catalyst for the whole industry.”

Before the launch of the Mobile Top App Index by MasterCard, a survey[1] was conducted to ask

consumers their opinion on the way they currently use mobile apps for shopping.

More than half of European smartphone users already have shopping apps downloaded on their phones, while 56% of these consumers use these apps regularly. 38% of European smartphone users said that they intend to use mobile apps for shopping over the next 12 months.
The most popular shopping apps are those that allow mobile top ups and help users select and purchase various media content. Buying fashion or beauty products as well as entertainment tickets on the go is also becoming popular. Around 30% of regular app users said they have used these features.
While safety remains the main concern for mobile shoppers, the survey also revealed that if consumers feel that shopping via an app saves them money or prevents inconvenience, 60% say they would gladly purchase through a mobile app more often.

Chris Kangas, Head of Contactless Payments Europe at MasterCard, concluded, “We are aware that a good part of the shopping people do is already on a mobile. There are brilliant apps by many retailers in Europe, however it is very difficult to keep track of the best due to the different markets and languages. I am convinced that by the time we complete our Index in March, 2015, we will be able to identify the most innovative shopping apps in Europe and will be able to share valuable insight on the mobile shopping app market.”

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