Are You Ready for Mobile Payments?

By on January 19th, 2012

Anyone involved in multi-channel marketing is painfully aware of the crush of pressure to integrate social and mobile marketing into their clients’ marketing programs. Even the glow of QR codes on direct mail and marketing collateral is tainted by the issue of mobile.

Now the issue of mobile payments is growing along with them. After all, if consumers are going to use their phone to access social media and mobile marketing pages, they are going to want to use their phones for making payments, too. It’s part of the convenience factor.

A recent survey by Adobe found that 62% of respondents had purchased physical goods on their mobile phones. Globally, the total value of mobile payments is expected to quadruple from $170 billion in 2010 to $630 billion in 2014, according to Juniper Research.

Among the types of mobile payments?

  • SMS payments
  • Mobile web payments (WAP)
  • Peer-to-peer (P2P)
  • Near Field Communications (Contactless NFC)
  • Mobio open-source 2d barcodes

If this looks like Greek to you, you aren’t alone. Fortunately, there is a great free resource to give you some background on mobile payments and the security issues that attend them. Check out Mobio’s free white paper “Mobile Commerce Security: The Mobio Security Solution.”

If you are still evaluating the power and influence of QR codes for mobile marketing, you can check out Digital Printing Reports’ “QR Codes: The Data Speaks,”  an aggregation of the publicly available research on QR codes adoption and use.

If you are doing any marketing in the social media, mobile marketing, or QR code spaces, mobile payments are something you need to be familiar with. Even if you’re not ready to pull the trigger, you need to at least be familiar with the issues and be formulating a plan.

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    One Response to “Are You Ready for Mobile Payments?”

    1. Jahir Says:

      We are getting habituated in using online and mobile services. Almost everyone have got a mobile phone in recent and we would love to accept the system of mobile payments. It will make the payment process much easier than ever. :)