Retale survey shows that consumers are embracing PayPal as the leading mobile payments service
Consumers are showing more interest in mobile payments, according to research from Retale, a location-based mobile platform. The research shows that 43% of consumers in the United States have used a smartphone or tablet to make an in-store mobile transaction. This is an increase from the 36% of consumers that did so last year. PayPal has become the most popular mobile payments services among these consumers, through shoppers tend to use a wide variety of solutions.
61% of shoppers will be using their mobile devices to make holiday purchases
Retale surveyed some 1,000 shoppers in the U.S., finding that 61% of these shoppers said that they would be using their mobile devices to purchase a gift this holiday season. Many consumers have been showing interest in mobile payments because they see it as more convenient, with payment services allowing them to simply tap a mobile device to a payment terminal to make a purchase. The survey from Retale shows that 63% of consumers believe that retailers should provide some sort of in-store mobile payment support, as this may improve the shopping experience.
Mobile shoppers use their smartphones to purchase clothes, food, and send gift cards
Among mobile shoppers, clothing is the category that experiences the most activity. Approximately 44% of consumers have used their mobile devices to purchase clothing products during this holiday season. Another 41% have used their smartphones or tablets to purchase food. Gift cards have also become a popular item for consumers doing their holiday shopping, with 30% sending gift cards via their mobile devices.
Retailers will have to make mobile payments more secure in order to find continued success
The mobile payments sector has generated a great deal of momentum during the holiday season, which is likely to carry over into the beginning of next year. Retailers are becoming more mobile-centric, hoping to better engage mobile consumers. These retailers will have to find ways to protect consumer information in order to ensure that they continue to find success in the mobile payments field.
This initiative is a joint effort between UnionPay and its partners including more than 20 commercial banks.
UnionPay has now announced that it has launched QuickPass, a new mobile payments system, in Beijing, in a joint venture between it and more than twenty commercial banks.
The hope is that it will help to bring credibility, safety and convenience to the smartphone payments market.
The QuickPass mobile payments solution has now been rolled out and is available throughout the city wherever UnionPay cards are accepted. The system is also supposed to come with the same level of financial security and convenience that the firm’s technology has been known to provide. Using this mobile phone based payment transaction service is possible through a range of different technologies. These include Token, TSM, HCE and NFC technology. This latest version of the QuickPass system underscores convenience and security on every level. This is important as these are among the primary barriers to adoption that have been identified by consumers.
This mobile payments service is supported by any smartphone that has Android 4.4.2 or higher and NFC technology.
To use it, consumers are asked to download the QuickPass mobile app and to create an alternative to the traditional UnionPay bankcard, called the QuickPass card. Once this has been established, the smartphone can be used to make purchases at any POS terminal that features the QuickPass logo or when making purchases on the internet by way of the UnionPay Online Payment (UPOP). This system does not require any SMS verification.
QuickPass has been designed to stand out in an industry that is becoming increasingly swamped with different smartphone payment options – particularly when taking into consideration the adoption rate among consumers, which remains somewhat limited. In this case, the hope is to show that there are enough levels of security in place for consumers to feel comfortable enough to give it a try. Many people are resistant to using mobile wallets due to concerns over privacy and the safety of their financial data.
This mobile payments service is also supposed to be very convenient as it uses rapid contactless payment technology that doesn’t require internet access or opening an app. The device must simply be on and the display must be held close to the reader. From there, the payment is completed
Among mobile shoppers, clothing is the category that experiences the most activity. Approximately 44% of consumers have used their mobile devices to purchase clothing products during this holiday season. Another 41% have used their smartphones or tablets to purchase food. Gift cards have also become a popular item for consumers doing their holiday shopping, with 30% sending gift cards via their mobile devices.