It is impossible to deny that smartphones and tablets have a place in the future of many daily tasks. One of these areas is mobile commerce and some experts believe that it could be the most influential platform of the future.A recent article from the Huffington Post features a round up of several reports that show how important mobile devices will be to the future of the consumer experience."According to market analysis and fellow mobile blogger, Horace Dediu, smartphones are the fastest and most ubiquitous consumer devices in the history of consumption," the article reads. "Well beyond the staggering consumption is the ubiquity of these devices. Where keys, purses and wallets are left at home, in the car or in gym lockers, our mobile devices remain closely tethered to us … more
While many experts have been quick to say that mobile commerce is going to play a major role in the future of payment solutions, it will ultimately be consumers that prove them right or wrong. If recent reports are to be believed, the future is closer than you think.According to a survey conducted by PayPal, 29 percent of customers would rather pay with their smartphones than with cash or a credit card. That goes along with another finding that nearly one third of Americans, if told they could only carry a single item with them when leaving the house, would choose a smartphone and 86 percent wished they did not need to carry a wallet at all.This shows that consumers are ready for a mainstream mobile commerce shopping experience, but it is businesses that are falling behind.This is … more
It is impossible to deny that technology is influencing how a number of different sectors operate. This doesn't just include hardware but also software and other tools like social media. Every industry is experiencing it, especially as the influence of the Millennial generation becomes more important. A recent Fast Casual guest column features an interview with marketing expert Jeff Fromm. According to him, will 80 million members that are plugged into the latest technology and platforms, Millennials are "the largest and most influential generation of consumers ever."
This is because social media has turned shopping and eating into an event. Many consumers find the need to Instagram, Facebook and Tweet where they are and what they are doing. On top of that, mobile commerce options like … more
Tablets are a popular computing device. That is an obvious statement, considering that according to an IDC study, this year nearly 250 million of them will be sold worldwide. As the years go on, that number is going to rise until they reach nearly 600 million units by the end of 2017. By comparison, PC sales will remain relatively flat and hover around 360 million annually over the same time frame.With more tablets in consumer hands, it is easy to make the link that more will start showing up in a place of business, regardless of the industry. In a retail setting, it could become commonplace to see a sales associate use a tablet to check on product information and availability and even run full transactions.With the right applications and a secure wireless network, … more
What is being billed as the largest antitrust settlement ever at $7.25 Billion, The Payment Card Interchange Fee and Merchant Discount Antitrust Litigation settlement received preliminary court approval back in November 2012. All merchants in the class action suit were notified that they had until May 28th to opt out. With this deadline behind us and only about 7,000 merchants out of more than 7 million merchant class members formally opting out, final court approval is exceedingly likely.
Many of the merchants that did opt out were very large merchants like Amazon.com, 7-Eleven, CVS Pharmacy Inc., Target Corp., Macy’s Inc. and Wal-Mart Stores Inc. who opted out over concerns that the settlement gave Visa and MasterCard too much freedom to raise rates in the future. In choosing to … more
It is impossible to deny the fact that mobile commerce is an increasingly important tool in a number of business sectors, including retail. As the functionality of smartphones and tablets continues to advance, using these devices to increase revenue and improve both the user and customer experience is almost becoming a necessity. However, it takes much more than just buying a tablet POS system to make it the smartest solution.Recently Jeremy King, the European director of the PCI Security Standards Council, was interviewed by Bank Info Security. He mentioned that while merchants of all sizes are updating their point of sale solutions and adding a mobile component, card security is often an afterthought. This is because the PCI compliance issues are more complicated."[There … more
The battle between Apple's iOS and Android has been raging for the last few years as more consumers take the plunge into the world of smart devices. It has also become a focal point of the mobile commerce push. As more consumers use their devices to help them make purchases, whatever gadget they choose to use could change how companies proceed with their offerings.According to a recent study by Forrester Research, which surveyed 53,427 adults aged 18 and older, 69 percent of iPhone users have used the device to make a purchase. That is compared with 53 percent of Android users, 35 percent of BlackBerry users and 32 percent of Windows users.Mobile device owners are also using their devices to research products before they make a purchase. The study found that 86 … more
Some experts talk about the possibilities of replacing all cash and card transactions with a mobile commerce solution. Others are not convinced such a thing will be possible outside of developing worlds where cards are already ingrained in the way that consumers operate.That was one of the messages expressed during the Mobile Commerce World Conference in San Francisco this week. According to ComputerWorld, one of the ongoing themes of the event was the way that mobile payments have already transformed the financial lives of many in less developed countries but are experiencing a tougher road to adoption in larger developed nations.The reason for that is because some of these smaller areas have had their entire banking system built around smart and simple phones, so using those … more
During Apple's Worldwide Developers Conference (WWDC), there was no mention of the Passbook application during the keynote address that unveiled iOS 7. According to reports from those that have been able to play with the new operating system, the app, which was a tentpole feature during the 2012 WWDC, is nearly unchanged in the new iteration. While it seems that the company may be putting the mobile commerce app on the back burner, not all experts think that is a good idea.According to a GigaOM article, Passbook could become the gateway for many consumers to accept the use of mobile devices during the payment process. The article cites a CashStar study, which indicates more users are adopting the technology every day and it could the beginning of a new … more
The popularity of mobile commerce is causing many businesses to examine the option. While this is a smart approach, merchants can not forget about their brick and mortar locations as the two entities actually have a lot offer each other.According to a new report from Harris Interactive, there is an opportunity for retailers to improve their brand and customer standing with the use of mobile applications. Of the more than 2,000 consumers that were surveyed, nearly 60 percent said they would rather research a product online with their smartphone instead of talking to sales associate in the store. However, that does not mean physical stores are losing value.More than 80 percent of respondents said it was "important or very important" to be able to physically touch a … more