[Infographic] Mobile Wallets: All you need to know
With the rapid adoption of NFC technology, now’s the time to read up on mobile wallets. Imagine a world where waiting for the customer ahead of you to count out coins is not only dwindling but non-existent. Imagine a world where you won’t even have to fumble around for your bank card for small transactions; just use the phone that’s already in your hand.
Statista has compiled an infographic illustrating all the data you need to know about mobile wallets.
Source: Statista
Check out this similar story: Infographic: mCommerce in Tablets vs Smartphones for the Holidays
Read MoreInfographic: mCommerce in Tablets vs Smartphones for the Holidays
Christmas is coming fast, and more and more people are opting to use mobile technology to shop for their loved ones.
Check out this video of holiday shoppers discovering a new way of using iPads!
4 Tweets about the Impact of mCommerce on Black Friday
Black Friday routines are constantly evolving. To reflect the adoption of mobile, here are 4 quick tweets about how mCommerce and mobile wallets affected Black Friday.
Innovative “Geo-Fencing and GPS Alert” Push Messaging Marketing Tactics
tim rich and lesley katon via Compfight
Push messaging is a feature that is available through a native mobile application (NATIVE = an app that is downloaded rather than viewed through a browser) that offers marketers an incredible amount of functionality. Since native apps require users to download an app, the user has invited marketers into their pocket, living room, office and basically wherever the user brings their smartphone. Therefore marketers can capitalize on contextual messaging to deliver sales promotions, product awareness messaging and other direct marketing tactics.
Geo-fencing or GPS Alerts
Due to the mass adoption of mobile and smartphone technology, users have begun to demand tailored messaging that meets their needs and objectives. GPS has become an incredible feature for marketers, because it allows them to deliver contextual messaging to their customers and prospective customers.
Interested in mobile statistics and mobile marketing? You may also like: Charts: Worldwide Smartphone Market Share and Trends, What is Push Messaging and why is it so Powerful?, 6 Things to Consider when Building a Mobile App
I am going to use a big box store as an example. A user watching television notices a big box store, they frequently shop at, has a mobile application. They download the application because they were made aware that the app offers deals, sales and other benefits such as a store locator and hours of operation.
Upon download the user is asked a brief set of questions to determine their preferences.
- What are the departments you shop in most (secondary and tertiary as well)
- What are your favorite brands?
- What type of products would you like to receive alerts about
- Where are your favorite stores (GPS based through a store locator)
Upon completion of an initial customer assessment, the user is telling the mobile application their preferences. Therefore since they have set their favorite departments, brands, products and stores, marketers are able to deliver relevant messages.
Let’s go through the purchase decisions, involvement steps and channel relationships
1. The user/customer wakes ups in the morning and decides they would like to go to a big box store
2. They get in their car and drive to the store, not expecting to buy more than one new product
3. Since they have preset their preferences (favorite stores, products, brands, departments) and they have downloaded the app, as soon as they walk into the store push messaging, is sent to their smartphone with contextual content
4. The user opens and views the contextual content and puts their phone back in their pocket
5. Since preferences have been set, geo-fencing can provide messaging when a customer walks by one of their favorite brands, departments, products etc.
6. The user puts items in their cart that they may not have noticed and checks out
7. The application stimulates buying and improves sales and ultimately channel relationships because the big box store is making more purchase orders through their suppliers
8. Not only, does the app provide increased sales and channel relationships, but it also provides data about consumers who own smartphones and what they are looking for while at the point of purchase. Therefore retailers are able to improve their supply chain through demand metrics.
Read MorePay with your smartphone: Mobile credit card payments come to Canada
This article was originally published by the Vancouver Sun via http://blogs.vancouversun.com/2012/11/02/pay-with-your-smartphone-mobile-credit-card-payments-come-to-canada/ by Sun Tech writer Jillian Shaw, take a look at her profile.
The first mobile credit card payment bought a coffee in Tim Horton’s today, an event that put Canadians another step closer to being able to leave their wallets at home when they shop.
The buyer was Olympian Simon Whitfield who bought the coffee by tapping his Rogers BlackBerry at a Toronto Tim Horton’s pay terminal, a contactless transaction that saw the coffee paid for on his CIBC credit card.
It was a demonstration of CIBC’s new Mobile Payment App, which will be available to CIBC credit card customers using certain models of BlackBerry smartphones from Rogers starting November 16.
The connection works via a NFC connection (for near field communication) that transmits the payment information between the pay terminal and the phone. The service will initially be available on two BlackBerry models, the Bold 9900 and the Curve 8360 and it will be extended to other smartphones in 2013, including Android and Windows 8. NFC was notably missing when Apple launched its iPhone 5 this fall.
“We’re pleased to make history in mobile commerce in Canada by completing the country’s first mobile credit card transaction,” said David Williamson, Senior Executive Vice-President and Group Head, Retail and Business Banking, CIBC.
“Getting a coffee while you are on the go is just one example of the kind of transaction that’s going to be made easier when you can pay in just seconds with a CIBC credit card on your smartphone, and we’re excited about the possibilities this offers our clients.
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