Beyond the Hype: Mobile Payments For Merchants
With 6 billion mobile phone subscriptions globally, mobile communications is having a profound effect on people’s lives, both socially and financially. In emerging countries, it provides an opportunity to access the Internet, as well as offers alternatives to cash. In developed countries, smartphones provide individuals with the ability to consolidate their payment cards, enhance security, and receive relevant offers directly on their devices. This paper will focus on the opportunities that mobile payments provide in developed countries.
Smartphones are rapidly becoming the dominant new phone type in most developed countries. As a merchant, this means that consumers are walking around your store with a little computer in their hands that allows them to compare prices, read reviews, find deals and inform their friends, all within the confines of your store. You need to be able to harness this new tool and ensure that it is working for you, not against you. If you are an online retailer, you need to leverage the power of this phenomenon to your advantage by providing a truly optimized mobile web and/or native application experience. If you are multi-channel, then you need to plan support for your mobile consumers, no matter the channel.
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Category: Savings and Tools