I ran a successful business in Financial Services marketing for 15 years. Before that, I worked for Lloyds of London, BUPA, Target Life and Next in a number of management roles covering disciplines such as Legal, Business Systems, Marketing and more besides.
Mobile payments: much more than micro
Mobile payments can be so much more than just paying for your coffee and paper on the way into work.
As we’ve seen with mobile sites such as M&S, some consumers are willing to use mobile sites for those big one-off purchases that would have previously seen them buying online or on the High Street.
What do retailers need to do to tempt micro-payment converts to make bigger purchases?
Will NFC be the technology that tips us into mobile retail?
Research by YouGov has found that 91% of British consumers have not heard of NFC technology, while 70% have yet to hear of the ‘mobile wallet’.
Though Juniper Research predicts that $50bn in worldwide sales revenue will be generated by NFC mobile payments by 2014, it’s clear that there is some way to go before British shoppers turn their backs on cash in favour of their mobile.
The scramble for mobile payments
Every part of the mobile supply chain is getting in on the mobile payments act. This is being driven not by technology, but by a shift in consumer behaviour.
