Tag: ACI Worldwide

Retailers have specific demands for mobile wallet adoption

A new ACI Worldwide report has shown that there are two major priorities for these payment apps.

The results of a new ACI Worldwide survey have now been released and, within them, it has been revealed that retailers considering mobile wallet apps are most interested in two major issues: security and the ability to use rewards programs.

That said, between those leading issues, it is the mobile security features that tops the list.

Among the retailers who responded to the survey, two out of every three said that the security aspect of mobile wallet apps is their leading concern. This demand from retailers for mobile payments solutions that provide adequate security should help to assuage some of the concerns that consumers have also expressed with regards to adopting these new types of transaction technologies.

That said, beyond security, there were a number of other expectations retailers had for mobile wallet apps.

Mobile Wallet AdoptionSeventy two percent of the surveyed retailers said that security was their top issue for their mobile commerce apps, in general, but when it came to payments, that figure rose to 75 percent. However, just slightly less – 71 percent – said that they wanted the integration of loyalty options into m-commerce apps, while 55 percent were concerned about that issue with mobile payments apps. Another 55 percent said it was important to be able to achieve seamless ordering through the use of the shopping applications but for wallet apps, that was seen as important only among 46 percent of the respondents.

According to the ACI Worldwide vice president, product line manager, Lynn Holland, in the company’s release on the study, “The proliferation of retail digital channels demonstrates the trend that ‘clicks upstage bricks,’ but even consumers shopping at traditional brick and mortar stores are increasingly using in-store browsing capabilities, which puts the power of information in sales associates’ and consumers’ hands.”

Holland also pointed out that no matter the channel, the results of the research indicated that over m-commerce and mobile wallets, payment security remains a top concern among retailers considering the use of this tech, especially in issues such as point-to-point encryption and tokenization.

Retailers in Europe and the Middle East want to embrace mobile payments

Survey shows that retailers are becoming more interested in new payment technologies and services

Retailers in Europe and the Middle East are planning to invest in new payment technologies in the coming years, according to a survey from ACI Worldwide and Ovum. Many retailers are beginning to see a trend among consumers that involves the use of mobile devices to shop for and purchase products. As this trend become more powerful, retailers are beginning to feel the pressure to engage mobile consumers more effectively or risk being left behind by these consumers.

Retailers in Europe and the Middle East have plans to embrace mobile payments within the next 24 months

According to the survey, more than two thirds of European and Middle Eastern retailers have plans to invest in mobile payments technology within the next 18 to 24 months. These retailers are citing real-time clearing and settlement capabilities and the growing popularity of loyalty programs as the reasons behind these investments. QR codes, in particular, have shown great appeal to retailers that want to engage consumers in an effective manner, as these codes have become quite powerful mobile payments tools.

Security concerns are slowing the adoption of mobile payments in the retail industry

Mobile Payments - World NewsThe survey suggests that unfounded security fears have slowed the adoption of mobile payments among retailers. Many companies are concerned with their ability to keep consumers information secure when using a mobile payments platform. Notably, however, a relatively small number of retailers have fallen prey to cyber attacks focused on the mobile sector. The survey suggests that retailers are more comfortable with relying on older, less secure payment platforms that have proven to have security issues in the past.

Retailers believe that consumers want more payment options

The survey shows that 93% of retailers believe that consumers want more options when it comes to paying for products. As such, mobile payments are becoming a more prominent focus for many companies. One of the challenges of embracing mobile payments, however, is the relatively high investment needed to purchase mobile point-of-sale systems and other mobile-centric platforms.