Are mobile payments here to stay? Considering ISIS has launched, Square has established itself and its mobile solutions through its relationship with Starbucks, Google Wallet is accepted in over 150 unique merchants in the United States, and the Merchant Customer Exchange (MCX) is in the process of developing its own mobile payment solution, it would appear as though the answer is yes.
By - Matt Zalubowski, First Annapolis
All signs indicate the future of mobile payments is bright. Despite these strong headwinds, a great deal of uncertainty remains regarding consumer adoption. This uncertainty has been reinforced by recent rumours that Google intends to introduce a plastic card that would allow a consumer without NFC chip-enabled phone, to make purchases linked to Google Wallet.
While merchants have taken steps to help facilitate mobile payments adoption (e.g. mobile shopping), further action is required to bolster the business case for mobile payments solution investment.
Retailers need to demonstrate how mobile functionality improves upon the current credit card purchase process. Integrating a company’s loyalty program, whether tender neutral or proprietary card specific, with mobile technologies is just such an example that is detailed below. Without this foundational justification, mobile payments will have an even more difficult time overcoming the
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