Tag Archives: Mobile Payments

Mar 22 2013

Weve has lots to offer mobile marketers

Summary: Businesses should sign up to mobile payments initiative Weve for mcommerce opportunities.

Marketers that fail to register for one loyalty payment venture are missing out on an opportunity equal to signing the Beatles.

At least, this is what three of the UK’s leading mobile operators EE, Vodafone and O2 believe of their payments initiative Weve, which is hoping to get more businesses on-board with mcommerce.

The scheme began trading in December 2012 and is offering brands the chance to boast a “single, consolidated customer base” of more than 15 million people they can roll mobile marketing campaigns to, whether it’s using SMS messaging, location-based ads or video content.

Speaking about the project at Advertising Week Europe, the chief executive officers (CEOs) of the three telecommunications firms claimed mcommerce will be a major driver for the British economy.

According to O2 boss Ronald Dunne, regulation derives from two things, market failure and the prospect of market failure and the country now has an opportunity to establish a “true digital confidence”.

The alliance between the operators was compared by Mr Dunne to a similar venture they embarked upon more than a decade ago, which saw the companies send text messages to people who were not registered with their own network.

It is likely to be methods such as this that have helped the organisations to expand their customer base and keep individuals loyal to their service and the O2 CEO remarked: “[Weve] is interoperability for brands: we know they want to talk to the most valuable customers in the marketplace.”

Weve promotes itself as a focal point for a new set of ideas across the mobile spectrum and businesses are sure to benefit from the mobile marketing, advertising and payments experiences it has to offer, which could help retailers roll out their own loyalty programmes and coupons.

And it seems many high-profile brands are noticing what Weve could do for them, with Morrisons and Nike already running activity on the service. In addition, Tesco is currently launching a geo-targeted campaign on Weve, which involves texting its female customers about a £5 discount off their next £40 shop if they spend £20 in-store on the day.

Vodafone’s CEO Guy Lawrence said Weve’s door is open for any rival operators such as Three that are interested in joining forces with the alliance, however, he added this has not yet happened due to the fact the CEOs have not been allowed in the same room because of legal matters.

The expert pointed to figures recently released by Gartner that suggest by 2016, there will be one billion phones enabled with Near Field Communications technology in use. He used these statistics to support his argument that brands must show willing to adopt the mobile channel and incorporate it into their marketing strategies, as once the total is reached, merchants that don’t take advantage of mobile will be “left behind”.

“If you want to be the chief marketing officer that didn’t sign up The Beatles, ignore everything we’ve said today,” he said.

Weve is preparing to announce a new service that will give advertisers the chance to send out SMS marketing campaigns to customers en masse in order to redefine its targeting via region or gender. The scheme is designed to make consumers think of texts less as spam and more as personalised messages relevant to their interests.

Dynmark has been working with various financial services companies for over a decade, providing tailored integration solutions as well as best practice and campaign management advice. Our experience means that we know how to make the most of SMS for the financial services sector and understand how to support your business. Read more about Dynmark’s financial experience here.

Feb 28 2013

Mobile finance providers ‘should target women in developing markets’

Summary: Mobile finance firms may want to use SMS messaging to interact with women in developing countries.

Mobile finance providers who are looking to retain consumers via SMS messaging may want to begin targeting females in developing countries.

According to the results of a new study published today (February 27th) by the GSMA mWomen Programme alongside Visa, women in these nations lack access to basic financial services, which means they provide mobile companies in the sector with ample commercial opportunities to increase their customer base.

The research focused on the lives of people in Indonesia, Pakistan, Papua New Guinea, Tanzania and Kenya in order to determine how the financial lives of women in emerging markets could be improved.

It found females in these countries recognise the security and privacy of mobile  money, with 95 per cent of participants in Kenya who use mobile remittances rating them as safe. By comparison, just half of respondents who largely rely on cash said they consider it to be a dependable form of payment.

As more females in developing nations have confidence in the mobile channel, it is likely they will be more willing to interact with companies via text messaging and develop a relationship over SMS. And once this trust is established, marketers are sure to notice an increase in returns on investment.

Aletha Ling, chief operating officer of Fundamo, a Visa-owned company, said mobile technology is key to advancing financial inclusion, as it provides excluded markets with an accessible and convenient point of entry to formal financial systems, something that is particularly useful for women.

“By working to build relevant services, expand distribution networks and tailor their marketing efforts, the mobile financial services community can create better approaches for reaching this underserved group,” he added.

The report stated that for mobile financial service providers to benefit from female consumers in emerging markets, they must first research how they learn and absorb information, before tailoring this to their communications.

It noted they tend to value reliable firms that offer convenience and security, while organisations that invest in marketing, customer care and agent networks are also likely to be better prepared to meet their needs.

Dynmark has been working with various financial services companies for over a decade, providing tailored integration solutions as well as best practice and campaign management advice. Our experience means that we know how to make the most of SMS for the financial services sector and understand how to support your business. Read more about Dynmark’s financial experience here.

Feb 27 2013

MasterCard and VimpelCom unveil mobile money solutions

Summary: MasterCard and VimpelCom are joining forces to drive forward mobile payments in 18 countries.

MasterCard and VimpelCom have announced they are teaming up to launch a new mobile money initiative that will provide payment solutions to consumers around the world.

The firms are looking to make life easier for the Russian mobile phone service provider’s 212 million customers in – both banked and underserved – 18 countries by rolling out secure and flexible financial services answering the needs of consumers and merchants.

Italy is set to receive the support first and mobile money solutions will be introduced in the nation this year, while deployments elsewhere scheduled for the future will leverage the full range of both companies’ offerings.

Mikhail Gerchuk, group chief commercial and strategy officer of VimpelCom, said mobile phones are at the centre of individuals’ social and financial lives and in many of the countries the service provider operates in, mobile penetration is higher than ownership of a bank account.

He added: “We are pleased to be partnering with MasterCard to deliver innovative and reliable financial services solutions over our mobile networks. We share the vision of providing our existing and future customers with quick, convenient and secure ways to pay locally and remotely.”

The professional claimed the joint venture will allow his organisation to strengthen its customers’ experiences by offering services that are not limited to person-to-person payments, bill payments and mobile commerce.

Meanwhile, according to Hany Fam, president of strategic alliances at MasterCard Europe, multiple access devices – including smartphones, tablets and laptops – are causing consumers’ behaviour to dramatically evolve globally.

Through the partnership, he claimed MasterCard is “addressing mobile payments that will replace cash in the day-to-day life of millions of people and drive financial inclusion across the globe”.

It is not the only move to accelerate mobile payments the card issuer has made recently, as it also revealed at Mobile World Congress – which is running throughout this week (February 25th-28th) – it is collaborating with Orange to enhance the delivery of mobile payments to customers of the mobile operator in Spain.

Dynmark has been working with various financial services companies for over a decade, providing tailored integration solutions as well as best practice and campaign management advice. Our experience means that we know how to make the most of SMS for the financial services sector and understand how to support your business. Read more about Dynmark’s financial experience here.

Feb 27 2013

Visa and Samsung announce mobile payments deal

Summary: Visa and Samsung are embarking on an agreement to accelerate mobile payments across the globe.

Visa Europe and Samsung have launched an agreement that is looking to drive forward the adoption of mobile payment technology worldwide.

Announced at Mobile World Congress today (February 26th), which is being held this week in Barcelona, the two firms are rolling out support to financial institutions so they can provide customers with an innovative contactless payment solution.

Banks will be able to use Visa’s Mobile Provisional Service to introduce their customers to payment programs operated by Near Field Communications (NFC) technology. They can securely download the platforms over-the-air to account-holders’ Samsung handsets that are enabled with the function and create secure data storage domains in the process.

NFC – the global communication standard that allows mobile devices to securely communicate with a point-of-sale terminal – is said to be increasing in popularity and a recent forecast made by ABI Research revealed 1.95 billion NFC-enabled devices will ship to consumers in 2017.

Visa Europe’s executive vice-president Mariano Dima claimed the card issuer is “delighted” to be building on its long-standing relationship with Samsung, adding the news marks a collaboration between two pioneering and innovative global entities.

“A Samsung device equipped with the Visa contactless payment service is a powerful proposition and will allow us to make mobile payments a reality for people around the world,” he explained.

Meanwhile, Samsung is also set to be licenced with Visa’s payWave mobile applet, which will be preloaded on to the Korean firm’s selected next-generation handsets. Once purchased, customers will be able to store personalised payment information and make contactless transactions with a number of retailers.

Dr Won-Pyo Hong, president and head of the media solution centre at Samsung Electronics, said the company is leading the way in facilitating mobile payments across the globe. “We believe that we have a strong value proposition for financial institutions that will ultimately allow consumer choice in NFC payments,” he added.

This comes after a survey conducted by OnePoll for the Intela Mobile Consumer Report 2013 found half of smartphone users in Britain are willing to spend more than £10 on their handsets.

Dynmark has been working with various financial services companies for over a decade, providing tailored integration solutions as well as best practice and campaign management advice. Our experience means that we know how to make the most of SMS for the financial services sector and understand how to support your business. Read more about Dynmark’s financial experience here.

Feb 15 2013

Firms offering mobile payments ‘need more trust’

Summary: Mobile users are reluctant to trust the security of making a purchase via their handset.

It seems that in order for companies offering mobile payment options to succeed, they need to win the trust of consumers first.

According to an independent nationwide survey carried out on behalf of bss digital entitled Using Mobile to Reach Customers, almost one-third (29 per cent) of Brits don’t trust making purchases on their smartphones or tablets and use a PC instead, even though the action could easily be made through a mobile device.

This means that businesses that are neglecting their customers and failing to offer a secure shopping experience could be losing out on as many as 14 million consumers.

It was revealed in the research – which was conducted by Opinium – that mobile browsing is becoming a growing trend among users, as one-quarter of individuals questioned admitted to looking at a product on their handsets first, before buying it later on a computer. Just one-fifth (19 per cent) of respondents said they both research and purchase goods from their devices.

James Southgate, client services director at bss digital, explained the lack of trust in smartphone security is similar to how people regarded making payments on a laptop or PC, when the method was in its infancy. He noted there are various options companies can turn to if they want to demonstrate their security and reassure people mobile payments are reliable.

The expert stated: “This can include having the highest forms of encryption and using a payment platform that consumers are familiar with and even consider direct operator billing so the purchase is added to the phone bill. 40 per cent of UK adults now own smartphones and that number is growing fast. Businesses can ill afford to overlook mobile.”

It was discovered in the study that one-third of UK adults aged between 18 and 34 both research and buy products via their smartphone or tablet, in comparison with nine per cent of shoppers above 55-years-old.

Furthermore, just over one-quarter (27 per cent) of men confessed to looking at an item of interest online before buying it later on a PC, while this was the same for 22 per cent of women.

London was revealed to be the part of the country where most individuals commit to researching and purchasing goods from their mobiles, with 28 per cent of people surveyed saying they do this. In the capital, one-third of individuals were also found to be mistrustful of shopping on handheld devices, while this figure is 26 per cent in the south-east of England.

Mr Southgate said the fact one in four people research items on their mobiles first is a “missed opportunity” for retailers, as from the time it takes for consumers to look at their potential purchase, before buying it on a PC, they could have spotted a cheaper deal with a competitor.

He added this is why it is crucial both the mobile and PC version of a website are consistent with one another and offer the same functionality. “A customer should be able to browse and then make a payment within a matter of a few clicks. It sounds cliched, but online time is money,” the professional concluded.

However, it could be the case that interest in mobile payments is growing among consumers, after a study from IMS Research recently found 60 per cent of people are either “interested” or “very interested” in replacing their traditional bank card with a mobile device.

http://econsultancy.com/uk/press-releases/7073-1-in-3-don-t-trust-security-on-smartphones-and-tablet-computers-for-online-shopping

Dynmark has over 10 years’ worth of experience working closely with global enterprises in the retail industry right through to SMEs. This experience of large and small businesses has allowed us to create tailored solutions for retail companies. With this proven experience in the industry we are sure that we can help you make the most of your SMS communications. Read more about Dynmark’s retail experience here.