Sorry that this falls on you bankers and credit unionistas, but you guys will have to provide some consumer education here. Specifically, on the differences between credit monitoring and transaction monitoring. Credit monitoring is good, and it’s needed, but it isn’t anywhere near a complete solution to protecting consumers’ card-related information.
Device shouldn’t be the only factor determining what constitutes a mobile payment. Location matters. As long as the numbers being reported include home-based, web-based purchases, I remain skeptical that mobile payment statistics really capture the shift in behavior.
Coin’s initial “success” has little to do with rational, logical reasons like solving a “problem,” referral fees, or appealing to early adopters with a blend of “old” and “new.” Coin’s initial “success” is due to the TechCrunch Effect. That’s it, folks. The one — and only — reason for Coin’s “success” was coverage on TechCrunch.
If the title of this post is in any way demeaning or disparaging, I apologize. Mickey Mouse is way too important a cultural icon to be disrespected. The Federal Reserve I’m not too sure about. While the Fed’s intentions to solicit input is admirable, its execution leaves a lot to be desire.
There’s a new type of marketing that’s beginning to gain traction: Activity-Based Marketing, or marketing within the context of an activity being performed by a customer or prospect.
To drive awareness and adoption of a mobile payments apps, merchants will need to run some kind of advertising campaign. But when I do the math, merchants could cut the transaction costs by a little more than half, or end up paying nearly seven times more than they do today.
SAP released the results of a global survey it conducted which found that: “Half of the respondents surveyed turn to their devices to pay a bill (55%), make a bank transfer (52%) and set up a new account (48%).” The mobile bill pay reality — in the US, at least — is that nowhere near half of consumers are using a mobile device to pay their monthly bills.
A recent Financial Brand article cites a research study which claims that “there are 29 million consumers [in the US] that banks and credit unions could easily convert to online bill pay. My take: No way. Banks are losing the online bill pay game, and it’s foolish to think that there’s “low hanging fruit” out there.
The typical American household receives about 15 bills each month. Water, electric, gas, cell phone, cable, landline phone, credit card, car insurance, home insurance, student loan, the list seems never ending. According to my highly acclaimed (translation: my mother liked it) 2010 report, US consumers pay nearly 15 billion bills each year. Many (though not…
If I’ve learned anything about doing consumer research it’s this: You can’t ask consumers their opinions about things that they don’t know. So, feel free to publicize your research about which mobile wallets are most popular with consumers, if you want, but I’m not buying any of it. ————— comScore recently conducted a study regarding…