Tag: Android Pay

JPMorgan is showing more support for mobile payments

| December 7, 2015

JPMorgan announces its support for Samsung Pay

JPMorgan has announced that it will be supporting Samsung Pay, adding to the number of mobile payments services it is backing. The financial institution already offers support for Apple Pay and Android Pay and is developing its own mobile payments platform through Chase, which will be called Chase Pay. Adding support for more payment services is expected to encourage more consumers to participate in mobile commerce as they will have more options to do so.

Millennials are powering the growth of the mobile payments space due to their comfort with mobile technology

The company has taken note of the significant growth in the mobile payments field. One of the driving factors of this growth is the popularity of mobile technology among young consumers. Millennials, in particular, have shown a great deal of comfort with mobile services and the demand for new payment services has grown among these consumers. Banks throughout the country are eager to engage these consumers by showing support for their favored mobile payments services.

Bank continues to see strong growth in its mobile consumer base

Mobile Payments - Image of JPMorgan Chase TowerJPMorgan has seen their mobile customer base grow by 21%, reaching 22.2 million by the third quarter of this year. Consumers want to use mobile payments services because they are seen as more convenient than traditional forms of commerce. These services also double as a type of digital wallet, allowing consumers to store their financial data for easy access. They can also use these digital wallets to store information from retailers, such as mobile coupons or data concerning loyalty programs.

Mobile payments will see significant growth throughout the US in the coming years

Mobile payments is likely to continue growing throughout the U.S. in the coming years. Over the holiday season, many consumers opted to use their mobile devices to make purchases online and in physical stores. Mobile payments services have proven to be quite popular, as they allow consumers to shop with more convenience. One of the issues preventing consumers from embracing mobile commerce, however, are security issues that exist in this sector.

Google to add loyalty program to its popular mobile payments service

| October 29, 2015

New program could add more value to Google’s Android Pay service

Google is looking to add value to its already popular Android Pay service. The company released its new mobile payments solution in September of this year, and it has managed to attract a great deal of support from consumers interested in using their smartphones to make purchases. Google already had an established mobile payments service, called Google Wallet, but relatively few people opted to use this. Android Pay, however, offers better features that have proven more attractive to consumers.

Majority of those using Android Pay have never used Google Wallet

According to Sridhar Ramaswamy, Google’s senior vice president of ads and commerce, several million people with Android devices are now using Android Pay. Approximately 60% of these people have never used Google Wallet before, making Android Pay their first experience with Google’s mobile payments infrastructure. While consumers have already shown interest in the service, Google is looking to make it more attractive and the company plans to introduce a loyalty program.

Loyalty program will provide consumers with reward points they can use for products they may be interested in

Mobile Payments - Loyalty ProgramThe loyalty program is expected to be launched in the coming months and will focus on numerous companies, with Coke being the first. Through the loyalty program, Android Pay users will be able to tap their smartphone to one of Coke’s soda cans that they purchase. Doing so, they will earn reward points that can be used to purchase Coke products. Google believes that the loyalty program will add more value to Android Pay, making it more attractive to consumers and retailers alike.

Google aims to raise awareness of mobile payments among consumers

Raising awareness of mobile payments is also a priority for Google. The company has begun partnering with several organizations, including AT&T and MasterCard, in order to help consumers learn about mobile commerce. One of the attractive aspects of mobile payments is its convenient nature, and Google intends to highlight this as one of the drawing points for Android Pay. Raising awareness may add more momentum to Google’s mobile payments plans.