Every day we see more people using their smartphones to make payments whether through apps directly on them or by using them to pay for purchases at stores. The rise of mobile payment types is only being outpaced by adoption which is accelerating at a breakneck pace. Check out what the blogs are saying this week about the future of mobile payments:
MOBILE PAYMENTS: What’s Taking So Long, And Who’s Going To Win?
Mobile payments: everyone talks about it, but no one knows exactly how it works or who will win
In our special report published today, Business Insider Intelligence lays out the four kinds of mobile payment solutions that currently matter:
Carrier billing. Where the consumer pays by text message and the charge is added to their phone bill. This is great for a variety of specific use cases (reaching the unbanked, especially teenagers; ecommerce and gaming), but is crimped by carrier fees and control.
Mobile payment systems can also serve as loyalty programs
Mobile payments system Square is building on its card reader and point-of-sale service with features that merchants and independent retailers can use to create loyalty programs and other return visit incentives. Making use of increasingly popular smartphone-based “punch cards” and rewards, Square gives its clients more tools to engage their customers and increase marketing value. Users of the Pay with Square app collect cards within the app and use them to track rewards from purchases. Merchants can activate first visit specials and customizable punch cards to attract new customers or to incentivize regular customers to keep coming back.
Global consumer demand for mobile payment options to purchase airline tickets, finds WorldPay
Consumers are itching to embrace mobile payments to purchase airline tickets, according to the global Perfect Passenger Payment insights report, commissioned by WorldPay.
6% of consumers have used mobile payments to purchase a flight in the last 12 months but 50% would use a mobile device to purchase airline tickets now if they could, and 62% expect this to be an option available to them in the future. 56% of consumers already travel with a smartphone or tablet device, and airline passengers are keen to embrace mobile devices during their airport-to-flight experience, with 61% wishing to use a mobile or tablet device to check-in.
Mobile Payments Could Be a Gold Mine, but Need a Jump Start With Consumers
Mobile payments are touted as the next big thing in marketing. Brands can instantly access an individual customer’s in-store purchase data and serve up targeted deals. The customer pays simply by holding up his smartphone to the checkout scanner — no digging into the wallet for a credit card, dollar bills or, heaven forbid, loose change.
The Yankee Group estimates that the worldwide transaction value of mobile payments will total nearly $1 trillion by 2014, up from $162 billion in 2010. But then why does it seem that the only people using it are customers purchasing their their double-caffe skinny lattes at Starbucks?
Visa Certifies 6 Smartphones for Its NFC Mobile Payments App
Visa is beginning to make its move in the mobile payments space. While MasterCard has heavily featured its near field communications capabilities and exclusive partnership with the Google Wallet, Visa has been working behind the scenes to set up mobile payments strategy. Visa announced today that its payWave NFC mobile wallet application has been certified for a variety of smartphones giving the payments giant its first real steps into unleashing NFC wallets.