Category: Mobile Payments

Subway is introducing new payment options through its websites and mobile application

Famed restaurant chain Subway is taking another step into the mobile commerce field by offering a new payment option through its mobile application. The new option will support PayPal transactions and is meant to make ordering and paying for food more convenient for customers. Subway intends to see more people use its mobile app and believes that integration with PayPal will help with the application’s appeal to consumers that are beginning to rely more heavily on their mobile devices.

Company seeks to become more flexible in order to meet the needs of its customers

Ken Moy, Subway’s director of global payments and emerging commerce, notes that the company has recognized the advent of mobile devices and the role they are beginning to play in the evolving field of commerce. Subway wants to establish a greater presence among mobile consumers, who are looking for more convenient way to purchase products that they are interested in. In order to accommodate the needs of consumers, Subway is looking for new ways to become flexible and engage consumers.

PayPal integration will be completed by the end of this year

By the end of this year, PayPal will be fully integrated into the Subway mobile application. Mobile payments made through the app will be supported at more than 27,000 Subway locations throughout the United States. The company’s mobile application is being powered by technology developed by Paydiant, a mobile wallet developer that was recently acquired by PayPal. Subway restaurants will support mobile payments made in person and payments will also be supported online through the company’s website.

A growing number of companies are beginning to take mobile payments more seriously

Mobile payments are beginning to play a major role in the business world. More companies are working to find ways to support these payments in order to satisfy the demand coming from consumers that have become interested in mobile commerce. Subway is one among several companies that have begun to play a larger role in the mobile commerce space.

Recent data released by the Halifax Bank of Scotland revealed that this preference is maintained in-branch.

The most recent indication that mobile banking is becoming increasingly popular and that the traditional form of banking by lining up and speaking to a human teller is on its way out, has now been released in the form of some interesting data from Halifax Bank of Scotland.

What it showed is that customers would rather use their smartphones or an ATM than speak to staff.

In fact, that preference is strong enough that customers would still rather use mobile banking or an automated machine, even when they’re in a bank branch. The vast majority of interactions that customers have with their banks are over devices such as smartphones, tablets, laptops, and automated teller machines. In the branches, themselves, over half of the visits will include the use of one of the self service machines in order to pay using checks or cash. These are frequently chosen over the opportunity to speak with the human cashiers and other staff members.

Usually, mobile banking and other automated services are selected unless more detailed assistance is needed.

It appears that consumers would prefer to use devices whenever possible, and that staff members are consulted only when complex products (such as mortgages, for example) or detailed financial advice is required.

Online accounts are accessed by mobile devices and laptops far more frequently than branch visits are made. In fact, the data from Halifax showed that it had experienced 69 million interactions with consumers throughout the month of June, at a daily average of 2.3 million. This is an increase of 47 percent over the same month, the year before. This indicates that not only are people choosing to access their accounts online, but they’re accessing them more frequently than ever4 before.

Among those interactions, a massive 57.2 percent were made over the mobile banking app, as consumers increasingly use their smartphones and tablets for making payments and checking balances while they’re on the go. Another 29.4 percent used desktops and laptop computers to do the same thing. Only a tiny 10.3 percent of the interactions were actually branch visits and an even smaller 3 percent contacted their bank by phone.