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Contactless payment applications and
eWallet providers such as Google+ are already helping to limit the time customers spend at tills and are beginning to offer the added element
of being stored on customers’ mobile phones. Comments Richard Goodall, Group Sales and Marketing Director at retail IT specialists, PCMS.
CONSUMERISM
seem, as ever, that multiple platforms are the way forward, as the savvy shopper likes to know they have options and they can shop their own way, in their own style. Some consumers may choose a mobile wallet and utilise NFC (Near Field Communication) to checkout their goods, others – while in store ‐ an online mobile checkout thus avoiding those irksome queues. Many may just utilise mobile banking to check and transfer money while on the go.
Ed Chandler, CEO of Kalixa Group comments, “The advancement in technology and social networks has rapidly evolved the way we pay. In the past 10 years it’s fair to say that, in the UK at least, high street shops and brands have changed beyond recognition. Payments have struggled to play catch‐up in this rapidly evolving retail landscape. The net result is that the backbone of purchasing payments is not meeting the current needs of
the market it serves. There is room and a need in the market for innovative alternatives.” Mobile payment systems are rapidly growing but one major problem with them is convincing the consumer that these systems are safe and secure. The safest type of mobile payment utilises Chip and PIN technology. “Indeed there are some mobile payment solutions that are working with existing technologies to ensure customer confidence and security. Chip and PIN is the safest solution for mobile card payments on the market, as it requires PIN authorisation and retailers are now able to offer this method without massive cost. Mobile Chip and PIN works with smart phones and tablets that are easily accessible, thereby eliminating the need for cumbersome card terminals.” commented Ian Marsh, UK MD, payleven.
Another big player in the payment systems advancements is the use of NFC (Near Field
Communication). This works by exchanging data over short distances. Smart phones with NFC chips can simply be tapped against an NFC reader to complete transactions. “Payment systems are the fastest moving element of the retail industry. The challenge that retailers now face is how to use tablets and mobiles effectively to speed up the traditionally laborious payment process in‐ store. Contactless payment applications and eWallet providers such as Google+ are already helping to limit the time customers spend at tills and are beginning to offer the added element of being stored on customers’ mobile phones, meaning payments can be automatically deducted on the move. Soon, customers will not want to go to tills at all to pay for goods, an expectation that will change the whole dynamic of in‐store shopping.” Comments Richard Goodall, Group Sales and Marketing Director at retail
www.a1retailmagazine.com
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