90% of Consumers Would Pay for Mobile Payment Options

By  |  January 9, 2011
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Consumers want mobile payment options and are willing to switch carriers to have them, according to Crone Consulting CEO Richard Crone:

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    – 57 percent of consumers are interested in having mobile payments on their phone

    – 90 percent would pay for the service

    – 64 percent would switch carriers in order to have access to mobile payments services

    – 58 percent would switch banks in order to have access to mobile payments services

    Crone then stated his third mCommerce rule: “All New Payment Types Start with Merchant Acceptance.” He said providing mobile payment registration inside the retailer’s app triples cross-channel effectiveness. Mobile payment enrollment in Crone’s view also decreases payment costs through preferred tender steering, increases mobile channel engagement and contactable customers and enhances customer loyalty and rewards programs.

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    “That’s why payment holds mobile engagement together. That’s why payment is such an important ingredient of your app strategy… Mobile payment consideration should not be an isolated silo from your overall initiative, because this can drive overall engagement,” said Crone.

    National Retail Federation’s 100th Annual Convention & Expo

    Sunday, Jan. 9

    1) Using Mobile Payments to Increase the Base of Contactable Customers (9 a.m.)

    – The Golden Rule of mCommerce  

    – Astounding Figures on the Growth of Mobile Banking

    – Why Mobile Could Be the Ultimate Cross-Channel Marketing Tool

    – What Consumers Want Out of Retailers’ Mobile Apps

    – 90% of Consumers Would Pay for Mobile Payment Options

     

    2) Target and ConAgra Foods on Converting Social Media Activity into Sales (10 a.m.)

    3) First Data’s Security Panel Offers Tips for Protecting Your Business (11:30 a.m.)

    4) IBM on How to Capitalize on the Smarter Consumer (1:45 p.m.)

    5) SAP Examines Precision Retailing and the Mobilized Consumer (3 p.m.)

    Monday, Jan. 10

    1) Deloitte VP Offers Suggestions for Harnessing Power of Technology in Retail (10:30 a.m.)

    2) Macy’s, Tesco and Food Lion Executives Analyze Evolving Retail Landscape (11:45 a.m.)

    3) Why Bankers Might Not Be Fond of the Tesco Credit Card (12:15 p.m.)

    4) Greetings from the Floor at NRF! (1:45 p.m.)

    5) Social Commerce: Is It Worth the Effort? (2:45 p.m.)

    6) iPad Retail Apps: Thumbs Up or Thumbs Down (3:15 p.m.)

    7) Steve Madden and Golfsmith’s Biggest mCommerce Mistakes of 2010 (4:30 p.m.)

    8) Merchants’ Perspective on Formulating an mCommerce Strategy (4:45 p.m.)

    9) Introducing the 3D Fitting Room (5 p.m.)

    10) Google ‘Locates’ New Multichannel Shopping Feature (5:30 p.m.)

    NRF Final Thoughts: Looking Ahead to the Next 100 Years in Retail 


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