Tag: mobile apps

Mobile wallets are becoming a big deal for Visa and MasterCard

| August 14, 2014

As mobile commerce continues to thrive, digital wallets are becoming more important

Mobile wallets may soon be the way of the future. A growing number of applications that are designed specifically to store financial information and data provided by retailers are emerging in the mobile space. These apps are thriving in the popularity of mobile commerce, finding support among consumers that want to pay for products using nothing more than their smartphones and tablets. For Visa and MasterCard, the mobile wallet holds a great deal of promise, but both companies are finding it difficult to engage mobile consumers effectively.

Visa is trying to form a direct connection with consumers

Both Visa and MasterCard have their own mobile commerce services on offer. Visa’s Checkout service was introduced in July and is meant to replace the company’s old digital wallet. Using the service, consumers will be able to pay for goods and services using data on their mobile devices. Visa is using its marketing clout to promote this new mobile wallet, but whether or not the service will prove popular among consumers has yet to be seen. Visa is currently struggling to form a direct connection with consumers, having focused so heavily on its relationship with businesses.

MasterCard wants businesses to integrate its digital wallet

Mobile Wallets - MasterCard and VisaMasterCard is offering a similar service with its MasterPass platform. The MasterPass application is meant to help make e-commerce more convenient to consumers, but MasterCard is not likely to try to form a direct connection with people using the app. Instead, the company is likely to continue focusing its efforts on providing services to its business partners, allowing them to connect with mobile consumers more dynamically. For MasterCard, creating something new is not the priority. The company wants to see its MasterPass service integrated into existing platforms.

Mobile wallets could be the key to omnichannel engagement

Merchants are working to adapt to the idea of omnichannel engagement. In a world where mobile technology has become so prominent, this has proven to be a difficult task. Connecting with mobile consumers is a complicated issue, but mobile wallets may be the key to success in this endeavor. In the coming years, more people are likely to be engaged in mobile commerce, and they will need digital wallets to make their experiences enjoyable.

Mobile commerce service seeks to help retailers engage consumers

| August 5, 2014

Kash aims to sidestep credit card fees and allow retailers to interact with consumers more directly

Starbucks has found a great deal of success in its mobile commerce endeavors, which has encouraged retailers to engage in the mobile space more aggressively. The company is considering offering its mobile payment technology to retailers, but this technology may not be available for some years. Kash is hoping to accelerate retailer’s entry into the mobile commerce space, offering them a way to accept payments from mobile devices and do away with credit cards and their fees.

Platform makes use of bank information rather than credit card information

Kash is a new platform available for iOS and Android devices. Users can make use of the application as soon as they download it and do not have to create an account before they are able to make a payment. Kash allows users to make use of their bank accounts rather than credit cards. They can use their bank’s login information instead of creating an account with the service. With payments being handled directly, retailers can have transactions processed in a single day rather than having to wait to receive payment for a week or more as it is processed by a third party.

Retailers express interest in Kash’s standalone scanner system

mobile commerce service to help retailersRetailers can sign up for Kash and receive assistance in setting up an online e-commerce portal. Kash does not currently offer equipment that can interface with modern point-of-sales systems, offering instead a standalone scanner that retailers can receive for free. Kash notes that retailers have expressed more interest in using their standalone system than waiting for features to be released that allow the Kash platform to interact with current point-of-sales systems.

Retailers could benefit from platforms like Kash

Retailers have been looking for ways to get into the mobile commerce field, but some have found this to be a difficult process. Engaging mobile consumers can be difficult because of their fickle nature and their unwillingness to tolerate platforms that are poorly designed. Retailers are relying on platforms like Kash to allow them to engage consumers in an effective manner.