Mobile Commerce

Keeping On Pace With The Future Of Mobile Commerce

If there’s one trend that’s stuck out in 2015 — one that’s set the pace for what’s to come in payments in 2016 — it’s mobile commerce. More specifically, mobile payments.

With major mobile pay players emerging throughout the year, Discover has recognized the need to bring its support to such technologies for the benefit of its merchants and card members. The rise of mobile commerce has also paved the opportunity for how consumers choose to interact and pay at businesses.

This has also created a trend where enabling mobile commerce has become a norm instead of a perk.

“Providing a digital shopping experience is no longer a luxury, but an expectation among consumers,” said Amy Parsons, Vice President of Global Commerce at Discover. “This means mobile-first features for an omnichannel experience; one-touch checkout integration, loyalty and location-based rewards, along with preorder and mobile wallet payments support. This also means more opportunities for merchants with brick-and-mortar stores to better engage consumers and drive loyalty.”

Discover itself has witnessed an increase in the mobile wallet market, along with more attention — and success of — loyalty programs as a result. This has caused the company to adjust its own business strategies to match the trends. Parsons noted that Discover has committed to shifting its core aspects of its merchants business to mobile and digital.

“We have developed a platform that connects different ways to pay with mobile wallet providers, while emphasizing security, simplicity and control. Discover is also continuing to work with merchants to create meaningful offers that drive cardmembers into the store. Traditionally, these offers would have been delivered via statement inserts, but have been moving to the digital world through Discover Deals, which is available via the big browser and mobile app,” Parsons said.

During 2015, Discover announced partnerships with many of the major mobile payment players, including Apple Pay, Samsung Pay and Android Pay — which was an important step for the company as payment networks serve as the strongest link between merchants and consumers. This aligns with Discover’s end goal to “provide customers the freedom, options and simplicity of making mobile payments with whatever method they choose.”

“We are always listening and looking to make payments seamless, simple, and secure. Offering mobile wallets allows us to accomplish both of these goals,” Parsons said.

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Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. Check out the February 2019 PYMNTS Financial Invisibles Report

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