In-Store Mobile Payments Will Grow Faster Than Any Other over the next 5 Years

According to the Forrester Data Mobile Payments Forecast, 2016 to 2021, mobile in-person payments will grow to 6.8x what is was in 2015. Shoppers are taking their phones into your stores more often than they ever have before. In fact, according to the Google Shopper Marketing Agency Council and M/A/R/C Research, 84% of smartphone shoppers use their phone while shopping in the physical store.

Mobile is no longer a channel, it is the tip of the engagement spear in every channel. Merchants must be prepared to accommodate the growth of device-pay and bank-pay mobile payment choices now available to consumers, but they also need to seriously consider the value of having a branded mobile checkout solution built into their existing mobile applications.

Merchants such as Kohl’s, Walmart, CVS, Tesco and recently, Target, have either already delivered or are planning to deliver a branded mobile payment solution. The benefits to the merchant are many, including:

  • less disintermediation from the customer at checkout
  • incentivizing preferred payment types to lower processing costs
  • the integration of legacy loyalty and rewards with payments to create better customer experiences

Next week at IBM Amplify, we will be providing deeper insight into these advantages and helping merchants and retailers understand the value of branded mobile payments and what it takes to achieve them. Sessions on retail payments will include:

#1830    Is Amazon Go the Future of In-Store Shopping?

Join industry experts in a discussion of how Amazon’s concept portends the future of in-store shopping and payments experiences. They will explore the implications for merchants and retailers, and discuss how they anticipate customer expectations continuing to grow. What systems are necessary to support a solution like Amazon Go, and will other merchants make the leap to “hands-free” payments and cart management?

#1828      Why Branded Mobile Payments Will be a Hot Trend in 2017 with Analyst Brendan Miller

Is anyone not working on a branded mobile checkout solution? Should you be? With its recent acknowledgement, Target has joined a Who’s Who of retailers, including Kohl’s, Tesco, Walmart and CVS, that are delivering a brand mobile checkout solution for customers. What are the advantages and why are so many large retailers moving in that direction? What does it mean for device-pay solutions and how can they coexist to provide the best experience possible for customers who are increasingly bringing their mobile devices into the store?

#1826      1-800-Flowers is Turning to Payments to Continue Innovating Exceptional Experiences

1-800-Flowers recently launched payments acceptance capabilities with IBM integrated to the Watson Commerce solutions already in place for digital commerce. 1-800-Flowers has long been an innovator in the digital commerce space as one of the original online businesses to see success in the early 1990s. Since then, 1-800-Flowers has become renowned for their attention to detail and rich customer engagement. Learn how 1-800-Flowers is using payments to extend that engagement experience with their customers.

And, of course, there are many more rich sessions to choose from. So come out to Vegas and see what IBM and Watson have in store for you when it comes to transforming your customer’s payment and checkout experience!

Share this post:

Share on LinkedIn

More Events Stories

Amplify showcases new ways to ‘Outthink Ordinary’

To separate yourself from the pack, to attract and retain customers, to lead, to win, to ‘Outthink Ordinary.”  Most true leaders want that, but the more than 3,500 industry leaders, experts and practitioners at IBM Amplify 2016 today understood that outthink ordinary was more than a conference tagline, they learned how new technology will help.  […]

B2B Modernization Client Day

IT experts, please join us in Frankfurt, London, Stockholm, and Copenhagen the week of September 14th for the B2B Modernization Client Day and hear from our worldwide product and market experts. The agenda will cover key trends driving B2B modernization projects, modernizing to the cloud, what’s new across the IBM B2B and MFT portfolio, plus […]

The Demise of the Physical Store

We have all seen headlines: the statistics that show consumers are making more purchases than ever online, so much so that, eventually, we will no longer have physical stores. However, that headline is becoming yesterday’s news as the conversation is starting to change. Of course, there is no doubt that online shopping will continue to […]