Crone stated that carriers are the only party that already has mobile credentials (cell number, service provider, phone model, etc.) for all their customers. Consequently, he felt ISIS, the joint mCommerce network by carriers AT&T, T-Mobile and Verizon Wireless, could prove to be a real game-changer. In addition, carriers could use their existing ACH and remittance operations to create a new low-cost processing solution, according to Crone.
“Everyone else is on the outside looking on. You have to garner the credentials the old-fashioned way — one customer at a time. That’s why the foundational step starts with mobile self-service,” said Crone.
He noted that it cost PayPal more than $150 million to acquire enrollment info for their first 5 million accounts, saying that the company now has more than 80 million active users 10 years later.
Yet considering the value the mobile medium presents to retailers, Crone felt measures to obtain enrollment information are well worth the effort.
“What’s different about mobile than any other advertising medium is that the customers must opt-in to interact with other channels,” he said. “If the customer does opt-in, you know where they are, who they and the certain products and services they select. This changes the game for advertising. It’s opt-in self marketing.”
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