Tag: New York

Retail industry sets its sights on mobile payments

Retail event will highlight the promising future of the mobile payments space

One of the retail industry’s major conventions is coming to New York and mobile payments may be one of the highlights of the event. The National Retail Federation will be hosting the event, as usual, and the organization suggests that mobile payments may be a significant focus of many companies attending the event. Retailers have become more interested in the mobile space over the past few years, largely due to growing smartphone penetration. In order to better engage consumers, these companies have become very supportive of mobile commerce.

Rewards program may encourage consumers to make use of new payment services

The mobile payments space is still quite young, but it is growing quickly. A growing number of retailers have begun to find that engaging mobile consumers with new payment services has been successful. In order to continue finding success, however, retailers will have to add value to their mobile offerings. Approximately 78% of consumers noted that they would make use of mobile payments services more often if they had access to some sort of rewards program through these services.

Security remains a major concern for consumers

mobile payments and retailMany consumers have shown favor for mobile payments because of the convenience that it represents. The problem, however, is security. Consumers have fears that their financial and personal information may be at risk if they were to use a mobile payment service. Retailers have been targeted in the past by those wishing to exploit consumer information, with some malicious groups focusing on mobile channels.

Retailers will have to take risks to find success in the mobile payments space

Retailers will have to find ways to ensure that consumer information is protected in order to find success in the mobile payments space. They will also have to find ways to add value to existing mobile payments services. Loyalty programs may be the best way to accomplish this, as consumers have shown great favor for these programs. The mobile payments space may thrive as a result of greater security and more valuable features being offered by retailers.

New York City may embrace mobile payments

Department of Finance is considering the possibility of accepting mobile payments

New York City’s Department of Finance is considering the possibility of using mobile payments for parking and traffic tickets that are issued to drivers. The state agency has begun exploring the realm of mobile commerce, reportedly considering designing its own mobile payment system to handle payments for traffic violations made throughout the city. Apple Pay, PayPal, and even Bitcoin are also being considered as possible options for this endeavor.

Mobile commerce is becoming quite common throughout New York City and elsewhere in the United States

Mobile payments have become quite popular among consumers in New York City. Many people have begun using their mobile devices to purchase products online, but it is becoming more common to see people paying for products in physical stores with their smartphones and tablets. As mobile commerce becomes more prominent, it is beginning to have an impact on the way governments handle money coming from consumers.

Department of Finance payment channels may be outdated and inconvenient for consumers

Mobile Payments - New York CityAccording to the results of an internal revenue, the Department of Finance found that its existing payment channels are not aligned with contemporary payment technology. As such, those issuing payments to the agency have had to rely on traditional, less convenient forms of payment. The agency wants to improve its payment systems in order to make them more convenient and efficient for consumers.

Embracing mobile payments may help agency become more efficient and provide consumers with a better way to pay for traffic violations

The New York Police Department issue nearly 10 million parking tickets every year. These tickets can be processed in person, online, and over the phone, but the state’s outdated payment services make each of these options somewhat inconvenient. By embracing mobile payments, New York City could become more efficient in the manner it handles payments for traffic violations. The state already has many examples of successful mobile payment systems that it can pull inspiration from. It could also embrace payment systems that already exist, such as PayPal, Square, and Apple Pay.