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The Benefits Of Mobile Payment

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Though issues like “Never thought about it” can be addressed by awareness and marketing the benefits of mobile payment, the others need to be worked out with better solutions and implementations. Though Apple Pay has sort of revamped the mobile payment sector, it isn’t the first and only mobile payment option out there. Google Wallet and Paypal, the old contenders, are still going strong and are very much in the game. The competition is tough and add to that the fact that at least 37% of the populace still think cash and card transactions are much easier to deal with. To win their vote, it’s going to have to get real easy and a one click checkout mobile payment option is as easy as it can ever get.

By looking at the growth of PayPal’s …show more content…

Earning loyalty rewards (optional; does not happen for all shoppers)

Checking-out in physical stores, the process used to (and sometimes still does!) take up to 10 minutes! Imagine a shopper looking for a coupon code to get a discount on the product they are about to buy. The code can be either in the form of a printed document (an ad, email, or website) or a coupon saved digitally in the user’s digital wallet or app or even within the website they were browsing and logged-in to save the coupon). The product would then be scanned -- by the cashier or shopper - to get the price. The shopper would then pay using the payment method of their choosing. If shopper is a member of a loyalty program, points would be added to their account. If shopper is not a member, the cashier often asks if they would like to join (by filling out a form, etc); this takes up additional time, which is an inconvenience for the shopper (and shoppers standing behind in -line.)

Now, imagine a customer interaction that involves beacon integration with a mobile wallet app, in effect mimicking an in-app payment but it takes place in the physical store. This way, the user interaction is something like, "Do you want 10% off that product? Click here and it will be charged to the default card in your digital wallet. No need to stand in a line to checkout.”

The following section presents some of examples of commercial pilots and deployments that use BLE to either trigger

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