Thursday, March 8, 2012

Increasing Mobile Payments

What is the best way to be connected with customers all the time? Well that is easy: mobile devices. While it is easy to connect with customers over mobile devices, it is much harder to get them to purchase products through it. 25% of smartphone owners say that they have purchased something on their mobile devices while 60% say they purchased online and 87% purchased in the store according to Wave Collapse. The biggest reason is because consumers just find it easier to swipe a card in the store than try and order online. There are a few things that businesses can do to try and make it easier on their customers to buy with their mobile devices.
The first thing is to make sure that your site and everything on it is up to date and works with all browsers and operating systems. You do not want half of your customers to not be able to view your site or use it because they do not have the most up to date equipment. If it you have to choose a certain range of technology because of budget, it is a smart idea to choose those systems that have the most users. It is also necessary to have fast checkout speed and loading pages. Consumers are impatient and the faster something loads the better for them.
The next thing that customers worry about is the security of their information. Just like on a computer, customers want their information to be secure so that if they lose their device someone will not be able to get to their information, especially their credit card number. Data encryption and password protection as well as a secure connection will keep customer data safe and make them feel better about buying online.
One more way to make it better for customers to purchase with their mobile device is to have a one-click checkout. Businesses can use a card vault provider, a service which keeps customers credit card data secure in a database separate from the business, to give customers peace of mind when putting in their credit card number. This service also makes making a purchase simpler because it saves the customer's information for future purchases and takes out all the steps which can deter a customer from buying.
The future for mobile commerce looks good in face of all the doubt about mobile payments. In 3 years, it is predicted by RSR Research that 24% of retailers will have annual sales of 15% or more from their mobile channel. Right now, about 74 million American consumers shop from their mobile devices according to InMobi. Mobile usage and purchasing is increasing rapidly. It is a good idea for business to look further into the sales potential of mobile payments. With a strong mobile payment strategy a business can insure that it is making it as easy as possible for their customers to purchase on their mobile device and that they will continue to make repeat purchases.

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