Friday, December 12, 2014
![BLE vs. NFC [infographic]](http://www.retailcustomerexperience.com/images/BLE-vs-NFC-infographic.png)
Tuesday, July 22, 2014
What Will It Take to Win the Mobile Wallet Wars?
http://contactsolutions.com/blog/what-will-it-take-win-mobile-wallet-wars
What Will It Take to Win the Mobile Wallet Wars?
Despite years of promises and incredible advancements in technology in the mobile payments space, it’s a good bet that everyone reading this blog has a leather wallet that they use every day to hold their cash, credit cards, debit cards, and driver’s license. Although the capacity exists to some degree, the vast majority of us do not use our mobile devices in place of our wallets. Why is this?
Today, about 85 percent of global transactions are cash based, and 50 percent of U.S. transactions are still cash based. More than 90 percent of U.S. adults own a cell phone, and nearly 60 percent own a smartphone. There are 19 billion devices connected to the internet across the globe, and 3 billion people have a device with access to the internet. By 2020, there will be 50 billion devices connected to the internet.
These technological advancements are not incremental and they are moving faster than ever. Mobile has become a catalyst in a shifting mindset where consumers’ expectations are profoundly disrupting business models. Mobile users demand instant access and control across different touch points, and if the app isn’t up to speed, they simply aren’t happy.
So how can the mobile wallet do things that the regular wallet cannot and satisfy the immediate needs of consumers? It’s all about connectivity. With so many mobile devices, there are significant opportunities for businesses to engage consumers in commerce, yet mobile wallets don’t work everywhere, and they don’t work every time. But the wallet in your pocket or purse does. Need a credit card? Debit card? Cash? License? It’s all there. Every time. And it all works with the vast majority of vendors.
So what is the value proposition for consumers? If regular wallets work just fine, why use a mobile wallet? Furthermore, what is the value proposition for the merchant? If traditional payment methods work just fine for consumers, then why spend millions of dollars on technological offerings when the status quo will do?
These are the questions that will need answering if we’re ever going to make the final leap to mobile payments. I’ll leave you with one final thought. The World Cup recently wrapped up, and nearly a billion fans worldwide followed every step of the event. Why has a sport such as soccer become so universal in society? If you think of a simple soccer ball and realize that it works on any soccer field (or dirt field for that matter) at any time worldwide. It doesn’t matter what kind of shoes you are wearing, you can play with Adidas, Nike’s, Reebok’s, even barefoot. Until mobile payments initiatives get the same level of ubiquity and become more reliable, and more widely accepted, mobile wallets simply won’t be as prolific.
What Will It Take to Win the Mobile Wallet Wars?
Saturday, July 19, 2014 - 15:15
Despite years of promises and incredible advancements in technology in the mobile payments space, it’s a good bet that everyone reading this blog has a leather wallet that they use every day to hold their cash, credit cards, debit cards, and driver’s license. Although the capacity exists to some degree, the vast majority of us do not use our mobile devices in place of our wallets. Why is this?
Today, about 85 percent of global transactions are cash based, and 50 percent of U.S. transactions are still cash based. More than 90 percent of U.S. adults own a cell phone, and nearly 60 percent own a smartphone. There are 19 billion devices connected to the internet across the globe, and 3 billion people have a device with access to the internet. By 2020, there will be 50 billion devices connected to the internet.
These technological advancements are not incremental and they are moving faster than ever. Mobile has become a catalyst in a shifting mindset where consumers’ expectations are profoundly disrupting business models. Mobile users demand instant access and control across different touch points, and if the app isn’t up to speed, they simply aren’t happy.
So how can the mobile wallet do things that the regular wallet cannot and satisfy the immediate needs of consumers? It’s all about connectivity. With so many mobile devices, there are significant opportunities for businesses to engage consumers in commerce, yet mobile wallets don’t work everywhere, and they don’t work every time. But the wallet in your pocket or purse does. Need a credit card? Debit card? Cash? License? It’s all there. Every time. And it all works with the vast majority of vendors.
So what is the value proposition for consumers? If regular wallets work just fine, why use a mobile wallet? Furthermore, what is the value proposition for the merchant? If traditional payment methods work just fine for consumers, then why spend millions of dollars on technological offerings when the status quo will do?
These are the questions that will need answering if we’re ever going to make the final leap to mobile payments. I’ll leave you with one final thought. The World Cup recently wrapped up, and nearly a billion fans worldwide followed every step of the event. Why has a sport such as soccer become so universal in society? If you think of a simple soccer ball and realize that it works on any soccer field (or dirt field for that matter) at any time worldwide. It doesn’t matter what kind of shoes you are wearing, you can play with Adidas, Nike’s, Reebok’s, even barefoot. Until mobile payments initiatives get the same level of ubiquity and become more reliable, and more widely accepted, mobile wallets simply won’t be as prolific.
Friday, May 30, 2014
Monday, April 7, 2014
Are You Serving Your Mobile Customers? - Smart Customer Service
Are You Serving Your Mobile Customers? - Smart Customer Service
With all the time and effort on gaining adoption of mobile customers using a mobile wallet or mobile device for payments, many companies have missed the boat in terms of providing a Omni-channel customer care - giving consumers what they want, when they want and how they want it.
With all the time and effort on gaining adoption of mobile customers using a mobile wallet or mobile device for payments, many companies have missed the boat in terms of providing a Omni-channel customer care - giving consumers what they want, when they want and how they want it.
Friday, November 8, 2013
10 Corporations Control Almost Everything You Buy — This Chart Shows How
It really is a small world after all!
10 Corporations Control Almost Everything You Buy — This Chart Shows How
The numbers are stark, and the charts visualize the mind-bending reality. This is the world we live in.
10 Corporations Control Almost Everything You Buy — This Chart Shows How
10 Corporations Control Almost Everything You Buy — This Chart Shows How
By Chris MilesNovember 04, 2013 "Information Clearing House - "PolicyMic" - Ten mega corporations control the output of almost everything you buy; from household products to pet food to jeans.
According to this chart via Reddit, called "The Illusion of Choice," these corporations create a chain that begins at one of 10 super companies. You've heard of the biggest names, but it's amazing to see what these giants own or influence.
By Chris MilesNovember 04, 2013 "Information Clearing House - "PolicyMic" - Ten mega corporations control the output of almost everything you buy; from household products to pet food to jeans.
According to this chart via Reddit, called "The Illusion of Choice," these corporations create a chain that begins at one of 10 super companies. You've heard of the biggest names, but it's amazing to see what these giants own or influence.
(Note: The chart shows a mix of networks. Parent companies may own, own shares of, or may simply partner with their branch networks. For example, Coca-Cola does not own Monster, but distributes the energy drink. Another note: We are not sure how up-to-date the chart is. For example, it has not been updated to reflect P&G's sale of Pringles to Kellogg's in February.)
Here are just a few examples: Yum Brands owns KFC and Taco Bell. The company was a spin-off of Pepsi. All Yum Brands restaurants sell only Pepsi products because of a lifetime deal with the soda-maker.
$84 billion-company Proctor & Gamble — the largest advertiser in the U.S. — is paired with a number of diverse brands that produce everything from medicine to toothpaste to high-end fashion. All tallied, P&G reportedly serves a whopping 4.8 billion people around the world through this network.
$200 billion-corporation Nestle — famous for chocolate, but which is the biggest food company in the world — owns nearly 8,000 different brands worldwide, and takes stake in or is partnered with a swath of others. Included in this network is shampoo company L'Oreal, baby food giant Gerber, clothing brand Diesel, and pet food makers Purina and Friskies.
Unilever, of soap fame, reportedly serves 2 billion people around the world, controlling a network that produces everything from Q-tips to Skippy peanut butter.
And it's not just the products you buy and consume, either. In recent decades, the very news and information that you get has bundled together: 90% of the media is now controlled by just six companies, down from 50 in 1983, according to a Frugal Dad infographic from last year.
It gets even more macro, too: 37 banks have merged to become just four — JPMorgan Chase, Bank of America, Wells Fargo and CitiGroup in a little over two decades, according to this Federal Reserve map.
The nation's 10 largest financial institutions hold 54% of our total financial assets; in 1990, they held 20%. As MotherJones reports, the number of banks has dropped from more than 12,500 to about 8,000.
(Click to enlarge)Monday, September 30, 2013
Google nixes NFC technology for mobile commerce platform
Mobile commerce platform to go NFC-free
Google has been making an effort to overhaul its mobile commerce platform, called Google Wallet. The Wallet was launched in late 2011 and is meant to store financial information and facilitate payments from a mobile device. The platform has become relatively popular despite a turbulent launch and some concerns regarding security. The Wallet is based on NFC technology, which means only devices equipped with this technology can actually use it. This has become one of the greatest criticisms of the mobile commerce platform among consumers, and Google has been listening intently.Wallet will be more accessible to those without NFC-enabled devices
Google has plans to nix the NFC requirements of its Wallet platform in order to make it more accessible to a wider range of consumers. While the company has expressed its faith in the technology and its use in mobile commerce, the low availability of NFC-enabled smartphones and tablets has limited the platform’s reach. Google intends to release a new version of the Wallet platform that makes no use of NFC technology whatsoever.
Mobile commerce is moving away from NFC
NFC is quite common in the mobile commerce field. The technology facilitates the transmission of digital information over short distances, making it especially useful where mobile payments are concerned. While NFC forms the backbone of many mobile commerce platforms, the exclusivity of the technology has been a deterant for many people that have expressed interest in mobile payments. NFC-enabled devices are still somewhat rare and many consumers have expressed little interest in buying a new device just to gain access to the technology. As such, the mobile commerce field has begun moving away from NFC technology, opting for alternatives that are more available to a wider range of consumers.Wallet will still act like a wallet
Users of Google Wallet will still be able to store a variety of financial information on the platform as well as store the data associated with loyalty programs. The fact that Wallet will no longer be reliant on NFC technology is likely to allow it to finally compete with similar services being offered by PayPal and other companies.Thursday, August 22, 2013
M-Pesa Kenya Infographic
http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2013/07/MMU-Infographic-The-Kenyan-journey-to-digital-financial-inclusion.pdf
It's staggering to see the profound and meaningful impact mobile has made on people's lives...
It's staggering to see the profound and meaningful impact mobile has made on people's lives...
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