Thursday, May 17, 2012

What is holding smartphone payments back?

NFC smartphone payments are slowly making their way into the mainstream, but there is still a long way to go before we see widespread consumer adoption.
Visa plans to use the London Olympics as a showcase for mobile NFC, although the trial will only involve a limited number of athletes.
And the infrastructure for consumer adoption appears to be in place with more than 140,000 contactless terminals around the UK.
So what is holding smartphone payments back?
To find out more about NFC payments and the opportunity for retailers, I spoke to The Logic Group's marketing director Mark Kusionowicz.

How can retailers be making better use of mobile in-store?

You need to look at how mobile can be included in the entire customer journey, as there’s more to making a purchase than just handing over the cash.
If you look at the whole decision process from the initial research, through to browsing products and finally making the purchase, mobile is the perfect medium for retailers to engage with their customers through the whole journey.
They can also have more of an influence on the customer's experience and behaviour.
For example, prior to buying something retailers can target consumers with specific offers to encourage the purchase. So rather than just sending out blanket offers through a deals site, you can reach the people you want to target because you know they are in-store at the time.
NFC comes into this, as consumers could tap their phone on a reader to access more product information or find out what’s in stock. But then the store also finds out that you are there and can offer 10% off if you buy it today.

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