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:
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?
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?
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!
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