mobile payments

drag2share: The Mobile Payments Rush Is On, And The Winners Will Shape The Future Of Transactions And Commerce

source: http://feedproxy.google.com/~r/businessinsider/~3/VJprYkEcHvs/a-primer-on-the-mobile-payments-market-2013-9

valueforecast 5

PayPal is close to a deal to acquire Braintree, a company that specializes in powering mobile transactions. Meanwhile, Facebook announced that it’s pairing up with payment companies to roll out “Autofill,” which makes it easier for its users to buy things straight from their phones.

Mobile devices are edging closer to fulfilling their long-delayed promise as digital wallets, and tech and financial services players do not want to be left out.

Consumers and merchants are beginning to see the advantage of channeling offline payments through mobile devices, rather than transacting in coins and cash, credit cards — or clunky register systems.

In a new report from BI Intelligence,  we explain the main reasons why mobile payments are poised for takeoff, provide proprietary estimates for the growth and size of the mobile payments market in the years to come, and analyze the specific trends that will help shape the growth in mobile payments, including user concerns around security. We track the demographic and geographic nature of ! the cons umers who will drive the growth, merchant-side adoption, and the mobile payments solutions that will lead the charge.


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Wednesday, September 25th, 2013 news No Comments

drag2share: With The iPhone 5S, Apple Reveals A Laser Focus On Revolutionizing The Most Lucrative Mobile Categories

source: http://feedproxy.google.com/~r/businessinsider/~3/W_YUywW7pWY/the-5s-focuses-on-top-mobile-categories-2013-9

biiSmartphoneShipmentsByVendorWith the new iPhone 5S smartphone, Apple has doubled down on the areas of mobile with proven revenue-generation potential, for itself and app developers: payments, commerce, games, and photography.

As part of our quarterly update of major mobile industry trends, BI Intelligence took a first look at how the 5S and its new camera and fingerprint scanner might revolutionize several of the most lucrative mobile categories.

The iPhone 5S will be a bellwether for the mobile industry’s future.

Here’s why Apple’s new fingerprint scan technology called “Touch ID,” could be a boon for mobile commerce and mobile payments:

  • Currently, Touch ID will allow a user to authorize iTunes purchases with a quick scan of their thumb, instead of having to type in their password. It will also unlock the home screen.
  • Mobile commerce: But retailers want much more. The hope is for App! le to op en up the fingerprint scan technology so that it can be used for smoothing in-app purchases and e-commerce transactions.
  • Mobile payments: The same technology can power the use of mobile devices for “walletless” payments at bricks-and-mortar offline retail outlets. Add this to the industry-leading 435 million user credit cards Apple has on file (as well as its Passbook digital wallet app), and the 5S could act as a bridge for taking mobile payments mainstream.

The 5S will be twice as fast as the old iPhone 5 and 40 times faster than the original iPhone, according to Apple. The 64-bit A7 chip will be accompanied by a new motion-sensing coprocessor. This hardware combination will benefit certain application categories:

  • Fitness and health tracking apps, as well as gesture-controlled mobile games (games are top app store money-makers).
  • Photography. Improved lens and sensors are paired to Apple’s updated camera software on the 5S, creating an enhanced camera experience, including a stabilization feature, automatic editing of multiple rapid-fire exposures for a few great photos, and “dynamic to! ne mappi ng,” which can adjust picture quality (i.e., brightness, exposure) on individual parts of the image.
  • Let’s not forget that photography drives some of the most popular social networking and messaging apps (Facebook, Snapchat, Instagram, etc.). Photography is at the heart of the mobile consumer’s experience, and where they put a great deal of their time, money, and care.


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Wednesday, September 18th, 2013 news No Comments

drag2share: MOBILE INSIGHTS: How Apple’s New iBeacon May Be The End Of NFC

source: http://feedproxy.google.com/~r/businessinsider/~3/4CjM_1zRKiY/mobile-insights-how-apples-new-ibeacon-may-be-the-end-of-nfc-2013-9

ibeacons

Apple iBeacon One-Ups NFC And Makes The Internet Of Things A Reality (GigaOM)
You might have missed iBeacon in Apple’s flurry of new announcements this week. Basically, iBeacon uses Bluetooth technology to connect iPhones to physical sensors.  It has a much higher range than any NFC chips and NFC sensors, making it more appealing to retailers who can utilize it for mobile payments and in-store marketing


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Thursday, September 12th, 2013 news No Comments

drag2share: Apple’s Passbook Ecosystem – How It May Still Shake Up Mobile Payments

source: http://feedproxy.google.com/~r/businessinsider/~3/K5nKD73XEaE/apple-passbooks-barriers-and-successes-2013-7

BII_Passbook_CCsWhen Passbook launched, excitement was high — among marketers and retailers in particular.

Forget The E-Wallet, It’s Apple’s Passbook That Will Transform Retail,” declared an op-ed in Ad Age in October 2012, just two weeks after the iOS 6 launch. The op-ed was written by Krishna Subramanian, CEO of ad company Velti.

“With Passbook,” wrote Subramanian, “the integration of promotions, redemption, and ongoing loyalty will be closer — and more location-specific — than ever.

Subramanian pointed out that Passbook also solved a real problem: that coupons don’t work very well.


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Thursday, July 25th, 2013 news No Comments

drag2share: Square Is Being Abused By New York Pedicabs Who Scam Tourists With $600 Rides

source: http://feedproxy.google.com/~r/businessinsider/~3/SbOL9umN4Iw/square-abuse-by-pedicab-drivers-2013-7

pedicab

Pedicab drivers in New York City are using mobile payments service Square to scam passengers, The New York Post reports.

They are reportedly adding on extra fees through the app, but not telling customers. Passengers only discover they’ve been ripped off once they look at their account statement much later.

Square’s credit card readers invite fraud because it lets people charge anything they want, NYC Pedicab Owners Association President Laramie Flick told The Post.

Just last month, a driver charged a couple of tourists $720 for a 20-minute ride from midtown to Greenwich Village using Square.


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Tuesday, July 23rd, 2013 news No Comments

CHART OF THE DAY: Mobile Payments Are About To Explode

Source: http://www.businessinsider.com/chart-of-the-day-mobile-payments-growth-2013-6

This chart comes from Business Insider Intelligence, a research and and analysis service focused on the mobile and Internet industries. Sign up for a free trial here.

With renewed rumblings that Apple is thinking about breaking into the mobile payments space, it’s worth taking a look at how far it’s predicted to go.

According to analysis by BI Intelligence, mobile payments will make up $1.5 trillion of all transactions in the US by 2017. Last year, that number was just $120 billion.

mobile payments growth chart of the day

 

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Thursday, June 13th, 2013 news No Comments

Here’s What Smartphone Users Are Doing With Their Phones

Source: http://feedproxy.google.com/~r/businessinsider/~3/hphx3YX_aDs/bii-report-heres-what-smartphone-users-are-doing-with-their-phones-2012-8

mobile content usage

A decade ago, we used our mobile phones to make phone calls and perhaps to send text messages. Some advanced users checked their email and maybe did occasional tasks online.

Smartphones and tablets have changed these habits dramatically. But how, exactly?

In a recent report on Mobile Usage from BI Intelligence, we analyze various usage patterns in mobile behavior and examine recent trends and developments. 

To Access The Full Report, Sign Up For A Free Trial Of BI Intelligence Today >>

Here’s a brief breakdown of the most important mobile usage trends:

  • Mobile web use is exploding: A majority of U.S. mobile users now access browsers and apps. According to Nielsen, the minutes spent per month on apps more than doubled from M! arch 201 1 to March 2012. Many of our most time-consuming mobile activities — games, social networks, and music — are accessed through apps. Time spent on the mobile web was basically flat. 
  • And the most popular mobile activities are becoming even more popular: Social networking and games are the two largest categories of daily app consumption. According to comScore, 37% of all U.S. mobile users accessed social networks on their phones in May, while 34% of all U.S. mobile users played games. These are double digit increases over two years ago. 
  • The shopping process is being revolutionized: U.S. mobile commerce is expected to hit $10 billion this year, up from $6 billion in 2010 — but that’s only a small part of the story. According to Nielsen, 89% of smartphone owners have used their phone while shopping in stores in a host of different ways, most notably to access digital marketing campaigns, conduct research, and make mobile payments. 
  • And, of course, users are consuming more content than ever before:
    Digital consumers read more books a year on average than their print-only counterparts, the percentage of U.S. mobile users listening to music on their phone has more than doubled in less than three years, tps://in telligence.businessinsider.com/mobile-usage-how-we-use-our-phones-and-what-it-means-2012-7?utm_source=House&utm_medium=Edit&utm_term=MU5&utm_content=link&utm_campaign=BIIMobile”>over 60% of smartphone and tablet owners access news on their devices, and mobile video consumption is experiencing rapid growth.
  • There is plenty more growth to come: There are six dumbphones out there for every smartphone, and smartphones have penetrated only half of the U.S. 

In full, the report looks at:

To access BI Intelligence’s full report on Mobile Usage, sign up for a free trial subscription here.

 

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Thursday, August 23rd, 2012 news No Comments

How Apple Can Upend Mobile Payments With The iPhone 5… (AAPL)

Source: http://www.businessinsider.com/heres-how-apple-could-upend-mobile-payments-with-the-iphone-5-2012-8

smartphone use in storesThe biggest new feature on the iPhone 5 may be a relatively under-reported one: the installation of a Near-Field Communications (NFC) chip that would allow the iPhone 5 to process mobile payments.

The Wall Street Journal recently detailed the high-level debate Apple executives are currently having over whether and how to do just that. 

In a recent report, BI Intelligence explores the state of mobile payments, explaining how NFC differs from other solutions in the market, and analyzing how Apple has a unique opportunity to own NFC and upend the mobile payments market. 

Access The Full Report By Signing Up For A Free Trial Today>>

Here’ s why Apple — and only Apple — could make NFC work: 

  • But, NFC suffers from the chicken-and-egg problem: Retailers will not add NFC receivers to their point-of-sale systems until they see an economic rationale to do so — that is, until enough consumers are paying with NFC or want to pay with NFC. Meanwhile, consumers will not see the point of using NFC until there are enough receivers for it. This is a very large network effect to overcome.
  • Apple is therefore uniquely able turn NFC into a viable payments solution: Hundreds of millions of consumers have accounts with Apple and already use them to purchase goods. That consumer power, combined with strong iPhone 5 sales, would give Apple a great shot at bringing big retailers along with their move to NFC. NFC would then have a chance to suddenly reach critical mass all at once, and Apple would be in an incredibly strong position in the sizable and growing mobile payments space.

In full, the report:

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Tuesday, August 7th, 2012 news No Comments

What’s Taking So Long, And Who’s Going To Win?

Source: http://www.businessinsider.com/mobile-payments-whats-taking-so-long-and-whos-going-to-win-2012-6

Square Estimated Daily Payment Volume And Revenues

Mobile payments: everyone talks about it, but no one knows exactly how it works or who will win

In our special report, Business Insider Intelligence lays out the four kinds of mobile payment solutions that currently matter:

  • Carrier billing. Where the consumer pays by text message and the charge is added to their phone bill. This is great for a variety of specific use cases (reaching the unbanked, especially teenagers; ecommerce and gaming), but is crimped by carrier fees and control.
  • Near-Field Communications (NFC). Where the consumer can pay at the point of sale by waving his phone in front of a terminal. NFC has been overhyped: it’s not more convenient than cash or credit, and the many companies who want a piece of NFC are canceling each other’s efforts out.
  • Apps. Where the consumer uses an app on his smartphone to pay, typically by scanning a barcode at the register. We believe this is especially useful for specific companies and retailers to offer, as it allows them to offer loyalty rewards and discounts on top of payments.
  • Card readers. Pioneered by startup Square, with recent entries from eBay (PayPal), Intuit, and Verifone, these solutions allow merchants to take payments by plugging a card reader into a smartphone or tablet. They’re very convenient (swiping a credit card is already ingrained consumer behavior) and piggyback on the existing credit card network. Card reader companies can offer value-added services on top of the payments experience to spur adoption by merchants and consumers.

We also:

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Wednesday, June 27th, 2012 news No Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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