Author: Denny

Partnership aims to develop a mobile commerce solution for financial institutions

MasterCard has announced that it has partnered with Monitise, makers of a popular mobile banking and payments platform. Together, the two companies will work to deliver a new mobile payments service that is designed to be used by financial institutions throughout the world. Financial institutions are beginning to feel pressure to engage mobile consumers more as these consumers become more reliant on their mobile devices. Without providing these consumers with mobile-centric services, they may seek out other institutions that accommodate their interests more effectively.

Financial institutions are feeling the need to accommodate the interests of mobile-centric consumers

Both MasterCard and Monitise have extensive experience in the mobile commerce field. Both companies currently have mobile commerce platforms that are available to the public and these platforms are used throughout the world. The new platform the companies are developing through their partnership is expected to have higher levels of security in order to help financial institutions address some of the concerns that consumers have regarding mobile commerce.

Security remains a major issue in the mobile commerce field, but consumers are still willing to shop from their mobile devices

Security has been a problem in the mobile commerce field for some time. Because mobile commerce deals in the trafficking of financial information, it has become a very popular target for hackers and other malicious groups. Consumers have often criticized the mobile commerce platforms they have used in the past as not being secure enough. Several high profile cyber attacks on large retailers have also called into question whether the mobile commerce sector is taking security as seriously as it should.

Financial institutions that do not accommodate mobile consumers could become irrelevant in the future

While consumers are concerned for the security of their financial information, security concerns have done little to stop them from actually participating in mobile payments. The demand for convenient mobile commerce platforms has been growing at a rapid pace as consumers become more comfortable with the concept of mobile payments. Financial institutions that are unable or unwilling to accommodate this demand may find themselves becoming increasingly irrelevant to mobile-centric consumers.

The second largest fast food hamburger chain the United States is headed to your local smartphone.

When measured by volume, Burger King is the second largest hamburger fast food chain in the U.S. and it is now expanding even further by moving into the mobile commerce sphere with a new smartphone app.

The mobile app will be rolled out to allow food to be purchased in advance on a customer’s smartphone.

The goal of this foray into mobile commerce is to try to boost its appeal to younger customers. This mcommerce strategy will be introduced in April and should be rolled out into all of the over 7,000 American Burger King locations within “a few months”, says a company spokesperson, Bryson Thornton. They will likely be adding the option for customers to be able to order their drinks and food ahead of time so that they can pick it up in store.

To start, the mobile commerce app will provide customers with coupons that they can redeem for deals.

Mobile coupons have become a very successful part of smartphone based marketing and it looks as though the burger chain will be using its app to appeal to consumers from the very start through these discount and deal opportunities. The app will also provide customers with nutrition facts about the various foods that are sold by the chain quick service restaurant.

Burger King has also been working its way into the mobile payments arena, as this option has also become increasingly popular among customers in the age group that they are targeting with this mcommerce effort. The app will allow a “virtual card” to be loaded on a customer’s smartphone, within the app. This card can be filled with funds that can then be used for purchasing food and drinks in the same way that a gift card would be utilized.

The primary competition of Burger King in the fast food environment, McDonalds, has also been testing a mobile commerce app that would provide its own customers with similar types of options over their smartphones, including information and payments, among other features.