Mobile Payments, It’s all about the Incentives

According to a recent Nielsen Report survey, 40% of US mobile wallet users say they use mobile methods as their primary mode of payment and that rewards are the key to winning them over as users.

69% of consumers agreed that they would convert to mobile payment methods if merchants were to offer incentives specific to purchases made via mobile wallet. These incentives could take the form of discounts, promotional items or gifts.

Ease of use also seems to be a big draw for mobile payment encouragement. Bar codes and quick response (QR) codes, which consumers can simply display on their device so cashiers can scan them, are the most popular mobile payment methods among smartphone payers, with 45% of people citing them as the preferred payment method.

The next most popular mobile payments method involves using near field communication (NFC) devices, with 37% of smartphone payers tapping their device on an NFC capable payment reader.

Encouraging consumers to increase use of mobile payments provides benefits for both the customer and the merchant. Customers enjoy the convenience and speed of use whilst merchants have another channel by which to capture data and provide offers. The way to encourage consumers to use the service more is to hook them with mobile payments specific incentives.

Source: http://www.nfcworld.com/2014/07/21/330506/four-ten-mobile-wallet-users-choose-mobile-primary-mode-payment/

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