Why mobile payments can’t take up all the space in your wallet
The quick and steady growth of the Retailer Mobile Wallet; has created a call for action from retailers. But, the word wallet naturally implicates payment, when payments are only a part of what a retailer mobile wallet CAN do to improve in-store shopping. This week, we came across an article we really liked, “Why mobile wallets alone will fail”, which articulated why mobile payments fall short in bringing real value to both retailers and shoppers. “Alone, mobile payment won’t take off with shoppers in a big way, but only as part of something that lifts up the shopping experience radically and fundamentally.” (Fortune)
That said, not all mobile wallets are centered around payments. Both of our retail focused Mobile Wallet solutions AIRSHOP Order and AIRSHOP Loyalty have been built on the idea that value added features are the key to driving user adoption. For example; fast ordering and payments so customers can order anytime and anywhere, geolocated couponing that is relevantly timed to inspire purchasing, skip the line incentives that cut down in-store waiting and lines by up to 60 or 70%, loyalty so customers can feel appreciated for giving their business to a retailer, real time product availability so customers can rely on what is actually available for purchasing in-store. The benefits will drive the adoption, and when that occurs, retailers will have a big time tool to manage their customer relationships; something which just can’t be done as well through traditional shopping. Once the benefits are established, expedited payments can only make the customer journey even better.
Don’t get us wrong, Mobile Payments do have a very relevant place in the retailer mobile wallet, and are principally important in the mobile commerce, web to store and mobile to store customer journey’s. Especially considering that there is a 66pc mobile shopping cart abandonment rate. In these cases, mobile payments still play an essential role in winning the sale; and retailers need to make improvements by adding more 1 click payment options, PayPal, and digital wallets like MasterPass and V.me. But, considering that payments are still only the last step of the customer journey, the greater importance remains in actually getting customers there.
Read the full article on Fortune
Read the full article on Mobile Commerce Daily
Learn more about AIRTAG White Label Mobile Wallets for Retailers at http://www.airtag.com/AIRSHOP.html
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|Print article||This entry was posted by audrey on 14/05/2013 at 16:20, and is filed under NFC News. Follow any responses to this post through RSS 2.0. Both comments and pings are currently closed.|
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