Millions of Americans use smartphones for everyday tasks such as taking pictures, working out, or arranging transportation, yet mobile wallets have struggled to gain traction among consumers.
As loyalty programs have expanded to include more emotional benefits, they have seen the value associated with meeting a consumer's needs. Now companies are competing for customer relationships rather than customer memberships.
Amazon has been a source of stiff competition for online retailers around the world of many years. And, with the launch of its Amazon Go concept store in Seattle last year, the online giant brought itself out of the cloud and into direct competition with brick and mortar stores.
Through Friday, June 16, Networld Media Group is accepting entries from innovative, consumer-focused financial institutions and fintech providers whose unique strategies and technologies are heightening the consumer experience.
It's time for a look back at last month's most-read articles and blog posts on Mobile Payments Today.
At least one executive believes the recent stats are misleading.
Airline revenue and payments professionals find common agreement around revenue opportunities that arise from deploying mobile payment capabilities.
With new technologies, it takes a while for regulation to catch up. Blockchain technology is no exception. While we are slowly beginning to see standards emerge, the reputation of blockchain is still marred by the criminal aspects of bitcoin.
Amazon, Facebook and Google are driving what consumers expect in a digital environment.
Jayson Tipp, Nikki Baird among the keynote speakers for the fourth annual executive event.
Loyalty and order-ahead-and-pay are becoming the standard in the industry.
The company earlier this month officially launched a mobile app for Android and iOS that enables users to open, view and close a bar tab right from their smartphone.
Consumers are looking for tools that make moving and managing money convenient and enable them to take control of their financial lives. Mobile can accomplish these things.
Recognizing merchants have encountered difficulty integrating EMV compliant payment equipment, credit card issuers have postponed chargebacks for fraudulent purchases on non-compliant equipment. Compliance, however, will benefit all parties by reducing credit card fraud.
Bank of America's latest Trends in Consumer Mobility Report shows that P2P adoption is strong across all generations. While millennials lead the charge, Gen Xers, baby boomers and even seniors use such services to varying degrees.
The decision on which mobile app to work with is an important decision. Some are sleek. Others are clunky. Some are quick. Others are slow as molasses. There are many items you must choose from, but here is an important something to think about.
Consumers these days want to connect with their preferred brands at a moment's notice. This, in turn, has forced companies to dabble in areas that didn't exist three to five years ago.
With the inherent convenience of ordering favorite specialty items online, come new demands from consumers, namely: the expectation of finding their favorite brands in the app store. The more consumers turn to their smartphones for buying convenience, the more competition arises for brands looking to cash in on the gold rush.
As more and more financial providers do way with physical locations and ATMs, making way for innovations that place mobile payments at the forefront, similar movements for international money transfers are likely much further down the track.
We've seen multiple studies over the past few months that conclude younger generations are aware of mobile payments, but don't care much about them — a service such as Venmo being the rare exception.