Tag: mobile payments

Recent research is showing that if this technology is going to take off, customers need a reason to use it.

Although there is definite growth occurring in the world of mobile payments, there is still a massive amount of potential that is being left unused and a recent study is suggesting that part of the solution to this issue is in offering incentives to consumers.

Regardless of whether wallets, NFC technology, QR codes or other methods are used, consumers need a reason.

The struggle is primarily based on the fact that consumers are currently quite happy with the method and convenience of their cash, credit and debit cards. Therefore, there is not a significant amount of motivation for them to learn how to use mobile payments through their smartphones when they already feel that they have everything that they need.

At the moment, mobile payments have yet to answer the consumer’s question “what’s in it for me?”

The research in a survey of 4,000 people in the United States and Canada has indicated that consumers aren’t necessarily waiting for mobile payments to become more broadly available. Instead, they want to know why using the technology would be of any value to them in the first place. They are concerned about issues such as security, privacy, and convenience – areas where they already feel relatively comfortable when completing transactions at the register.

The survey was conducted by Accenture in order to gain a better understanding of what would motivate Canadian and American consumers to start to use mobile payments as a larger part of their daily lives. What they determined was that making the infrastructure available wasn’t nearly enough. Consumers need to be shown how they can benefit by using their smartphones instead of cash, credit, and debit.

These mobile commerce incentives can be as straightforward ad discounts, rewards, or other value added strategies. The survey has indicated that these incentives will be enough motivation to turn many consumers toward using their smartphones instead of their traditional transaction methods.

Mobile payments services and retailers that understand this fact may be able to implement campaigns and strategies that will appeal to the consumer’s preferences and provide them with benefits that will encourage them to try the technology for the first time, and then become comfortable with using it more regularly, said the study.

Walmart continues to see promise in mobile commerce field

Walmart has been taking note of the attention that the mobile commerce scene has been receiving recently. The retailer has long been accustomed to adapting to changes in the market and meeting the demands of consumers and now it is beginning to shift toward becoming more accommodating to the mobile space. More consumers are using their smartphones and tablets to shop than ever before, leading to a swell in the demand for mobile commerce services. Walmart is now working to meet this demand and has begun overhauling its e-commerce and mobile strategies.

Retailer to launch new website

Walmart believes that e-commerce is among its primary growth engines and claims that e-commerce may power the majority of the company’s growth in the near future. In order to become more attractive to online shoppers, the retailer is taking a new approach on the matter of e-commerce and has adopted a strong focus on mobile. The retailer is planning to launch a new home page for its website that will feature the services and functionality that consumers are coming to expect from companies in the retail industry.

Site optimized for mobile use

The new site will be optimized for mobile use, allowing those with smartphones and tablets to navigate the site easily and without any trouble. The site will also support mobile commerce for those interested in purchasing products online through their mobile devices. Walmart claims that more than half of its customers have smartphones and if the company does not cater to this demographic it may be missing out on a promising opportunity.

Retail industry continues to see growth in mobile commerce

Mobile commerce is quickly becoming a staple in the retail industry. Consumers have responded well to the concept of mobile commerce and are quickly becoming more comfortable with purchasing products online using their mobile devices. Walmart is one among many in the retail industry that has begun showing more favor to the mobile crowd.