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European Mobile Payment Facts

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Retailers Vie for Piece of Crowded Mobile Payment Market by Reuters

By Emma Thomasson

Gartner:  By 2017, use of mobile payment will grow 3 fold to 450 million users to $721 billion

Retail Success will be thwarted by consumers not wanting multiple methods of payment, but advanced by incorporating it into shopping apps.

Starbucks has 10 million users, increasing frequency & loyalty.

Walmart, Target & Best Buy plan to set up joint digital wallets, MCX or Merchant Customer Exchange.

Tesco has been tracking customer behavior through Clubcard loyalty program for over 2 decades and plans to use smartphones and its own-brand Hudl tablet to handle in-store shopping.

Auchan, a French retailer, has launched “Flash and Pay” to combine coupons, loyalty cards, receipts and shopping lists.  It’s plan is to avoid the third-party services.

In Britain, the cost of handling cash is estimated to be 2.5 percent.  Shifting to a wallet solution could save as much as $770 million in transaction fees.

 

http://www.dailyfinance.com/2014/04/06/retailers-vie-mobile-payment-market/#!slide=2149879






Updated: April 7, 2014 — 12:33 pm

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