A new study released by HP Atalla and conducted by the Ponemon Institute has outlined new payment system trends and the number of retailers currently using — or planning to use — mobile payments, person-to-person payments and e-wallets.
Results from the Security & Compliance Trends In Innovative Electronic Payments Report indicated that payments completed with mobile devices or phone numbers are the most popular, with 75% of respondents saying their organizations have plans to support them.
McDonald’s customers now can tap and pay for their meals in-restaurant and in the drive-thru lane using the Softcard mobile app. This is the largest deployment of NFC-based mobile commerce in a drive-thru environment, according to an announcement from McDonald’s.
This news comes on the heels of MCX members, specifically Rite Aid and CVS, reversing their acceptance of mobile payment competitors Apple Pay and Google Wallet. Although both chains had NFC card readers compatible with the mobile payment systems, both companies eventually blocked NFC recognition.
With the recent release of Apple Pay, mobile payment is coming back to the forefront. And retailers seemingly are more eager to hop on board and create a more seamless and enjoyable customer experience. However, there are a variety of factors retailers need to consider before hopping on the mobile bandwagon.
In the below Q&A, Leon Sikes, Global Director of Retail Technology at jewelry designer, manufacturer, and retailer Pandora, discusses retail mobilization trends, challenges and best practices.
With 24 years of global business and technology experience, Sikes brings a unique perspective and understanding of the pressures retailers face with regard to driving the customer experience through mobile enablement. Sikes is slated to speak at the 2014 fall Mobile Payments Conference (MPC), which is being held October 6-8, 2014, in Chicago.
Nearly half (48%) of workers today say their lunch break lasts 30 minutes or less, according to research from OfficeTeam.
As consumers’ break time shrinks, they are seeking fast, convenient ways to purchase their meals. That is why the SUBWAY restaurant chain has launched NFC-based mobile payments with Softcard, the mobile commerce venture created by AT&T Mobility, T-Mobile USA and Verizon Wireless.
Amazon.com has launched Amazon Local Register, a secure card reader and mobile app designed to allow local businesses to process digital transactions originating from a smartphone or tablet.
Local Register will serve as a direct competitor to mobile payment processors PayPal and Square. Retail customers who sign up for the Local Register before October 31, 2014 will receive an introductory rate of 1.75% per card swipe until January 1, 2016. The Amazon solution’s initial flat rates are less expensive than Square and PayPal, which offer swiped rates at 2.75% and 2.7%, respectively.
Mobile payment solution provider LevelUp has launched a startup program designed to provide new restaurants with tools to enhance their business processes.
The LevelUp StartUp Program includes:
New predictions from Forrester Research confirm that mobile commerce has reached a tipping point. Total smartphone and tablet transactions in the U.S. are expected to total $114 billion this year, according to the forecast. In addition, 29% of all e-Commerce transactions will be completed on mobile devices.
Retailers are trying to keep pace with today’s cross-channel shoppers by implementing mobile commerce strategies that span across marketing, clienteling and payment.
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