Vicki Campana

As smartphones continue to grow in size and popularity, these devices are equipped with futuristic technologies that make paying via a mobile device almost seamless for consumers. Mobile users can now shop whenever and wherever they want. Consumers no longer need to drive to the mall to shop, or boot up the computer to check out your site. They can simply be on their mobile device and shopping at their leisure. As a retailer, are you ready for this?

It seems like Apple Pay paved the way for others in the world of mobile payments, but it was actually Google when they launched Google Wallet in 2011. Users were not quick to adopt, and followers were minimal. With the success of Apple Pay, others like Android Pay appeared, as well as Samsung Pay which is rumored to be launching this summer or fall. Could Android Pay take the spotlight away from Apple Pay when it launches later this year? It is unlikely, but it will appeal to Android users that have been watching their friends utilize Apple Pay in stores and online. We can only assume that Android users have been patiently waiting for their chance to try out the “on the go” payment method that everyone has been buzzing about.

PayPal has been a tried and true form of online payment that many brands have been offering their consumers for some time. As consumers check their emails, shop online, and peruse social media, retailers need to be ready. When the consumer places an item in their cart, they need to have the option to check out on their smartphone. Smartphones are great to shop on, but they do not always deliver the best experience to the consumer. Buttons are difficult to “click” while boxes are hard to fill in. This leaves many consumers no option but to abandon the site. When a mobile-friendly payment option is offered, consumers are more likely to continue the checkout process from their mobile device.

In order for mobile payments to continue gaining momentum:

  • They need to guarantee the consumer security and protection. It’s been almost two years since Target potentially experienced a security breach affecting over 100 million consumers, and we are still talking about it. That doesn’t mean that people are not signing up for the Target debit card, but it can be assumed that they are taking a closer look at their bank statements.
  • They must continue to make the process easy and seamless. No one wants to enter information every time they make a mobile purchase in-store. Apple Pay makes it easy by allowing the consumer essentially a one-step process for purchasing. If they can make a payment without pulling out their wallet, it will feel easy.
  • There must be multiple payment options. When buying online, there are already many payment options, from PayPal to Amazon checkout. If Apple Pay was the only mobile payment option to use in stores, Android users would never be able to experience it. Consumers want options and they want to be able to decide for themselves what payment method is best. If you limit the way a consumer can shop in your store or on your site, they may decide not to shop with you at all.
  • They need to continue to be relevant. If a new mobile payment method is introduced, or a new payment app is created, the current ones will need to work harder to make themselves relevant in the eyes of consumers.