Mobile Payments

NEW REPORT: Junk Drawer Gift Cards, Finding New Appreciation On A Mobile Marketplace

Mobile devices have become so much more since the quaint, early days when they were referred to as cell phones. Now, in addition to helping consumers keep in touch, mobile devices have grown into key commerce and payment tools, facilitating purchases through clouds and air and at points of sale. 

In the October edition of the mPOS Tracker™, PYMNTS explores how mobile devices and mPOS technology is being used to fuel transactions around the world. 

Around the mPOS world

While American consumers have yet to embrace mobile wallets, studies reveal that the demand for them and other forms of mobile payment is greater outside U.S. borders. And, over the past month, providers have debuted new tools and services to satisfy the growing appetite for mobile payments abroad.

Mastercard is looking to address the needs of two-thirds of Polish consumers who are eager to use more mobile wallets with a new pilot program. The company announced it will test the program in Poland to enable small and medium-sized businesses (SMBs) to accept cashless payments with only a Samsung smartphone and app. 

Similarly, mPOS technology provider Payworks is looking to build a business based on consumer desire for Tap and Go mobile payments in the United Kingdom, making its payment gateway available in that country. Also in the U.K., iZettle debuted its iZettle Invoice feature to help U.K. businesses issue invoices and manage resulting cash flow — all in its mobile app for British merchants.

For the latest notable news and trends from around the mPOS space — including both national and international developments — check out the latest Tracker. 

Turning gift card trash into consumer cash

Whether it’s the result of a disappointing birthday gift or a proverbial lump of coal in a Christmas stocking, many people wind up with gift cards gathering dust in the back of wallets and the bottom of junk drawers. 

But, what if someone’s gift card trash could become someone else’s money-saving treasure — and give the original recipient a chance to actually find some value in a gesture that was a swing and a miss?

According to its founder and CEO George Bousis, that’s the idea behind Raise, a mobile app and eCommerce marketplace allowing consumers to buy and sell gift cards from one another. In a recent interview with PYMNTS, he said the app gives increased value to gift card buyers and sellers alike. 

“In a lot of industries there are hundreds of billions of dollars in cards sold every year, but much of it goes unspent, and this is designed to change that by giving cash to people who don’t want their gift cards,” he said. “The whole idea behind Raise is that it’s almost like newfound money [for sellers], or your money [as a buyer] is more valuable, because you’re spending, say, $40 to get a $50 gift card.”

To read the entire story, along with a ranked provider directory featuring 291 major players in the space — including four new entries this month — check out the October edition of the PYMNTS mPOS Tracker™. 

To download the October edition of the PYMNTS mPOS Tracker, click the button below:

About The Tracker

The PYMNTS mPOS Tracker™ is your go-to resource for staying up to date on a month-by-month basis. The Tracker highlights the contribution of different stakeholders, including institutions and technology coming together to make this happen.

 

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