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Mobile Payments

WHAT IS MOBILE PAYMENT? MOBILE PAYMENTS With mobile payment, the cell phone can either store funds directly on it, or act as the transaction tool for debiting a different account. Is the wallet in your pocket soon to be a thing of the past? store bank Cor) MOST COMMON FORMS OF MOBILE PAYMENT NEAR-FIELD SMART PHONE SMS-BASED PAYMENTS AND TRANSFERS SOFTWARE-BASED SOLUTIONS LOCATION-BASED APP SOFTWARE COMMUNICATIONS (NFC) CREDIT CARD READER Chip in your phone holds your credit or Swipe your credit card through a device Pay during checkout by authorizing Install an app called card case, and Send a text message with authorization debit account and is attached to a smart- code, amount and retailer to debit from merchants can pick your bank account or prepaid balance. up your phone through location phone. scanned by another device that houses a recipient. No smart- phone needed. proximity servers to charge you. transmitter chip. EXAMPLE square, intuit EXAMPLE EXAMPLE EXAMPLE zaypay dwolla, starbucks, google wallet google EXAMPLE card case MOBILE PAYMENT IS BIG BUSINESS Only 147% of US companies offer mCommerce. And while 2970 plan to in the next year, S7% do not plan to in the next year. PROJECTED NUMBER OF MERCHANTS USING "SQUARE" TO ACCEPT MOBILE PAYMENTS WORLDWIDE BY 2015 MOBILE PAYMENTS 12.5% of 8 million retailers 3.3 trillion B670 billion spent by US consumers on some 6 billion credit and debit card transactions MOBILE PAYMENT IN 2011 VS 2015 240 billion in 2012 670 billion in 2015 MOBILE PAYMENT USERS WORLDWIDE TOP 3 PRODUCTS PURCHASED ON SMARTPHONES IN 2010 2010 Entertainment Items Electronics Clothing/Apparel 102.1 million users 2011 141.1 48% 45% 45% million users Source: eMarketer, Mobile Payments: Moving Closer to a World Without Wallets; September 2011 Acquity Group is a leading brand eCommerce and digital marketing company. For more information visit www.acquitygroup.com ACQUITY GROUP 877.227.1772 | info@acquitygroup.com I www.acquitygroup.com

Mobile Payments

shared by rmmojado on Jan 23
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According to this graphic from the Acquity Group, mobile payments are about to soar. Right now only 14% of companies now offer mCommerce solutions, and another 15% will sign on next year. Eventually, ...

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Acquity Group

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Technology
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