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Showing posts with the label mobile payments

Mobile Commerce Strategies and CROME Triggers

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In my research on mobile commerce and mobile consumers' behaviors this year, the need to personalize a user's mobile/digital experiences always comes up as a top priority.  Everyone wants an experience that is relevant. However, as I pondered these studies, it occurred to me that personalization is only a part of the solution. If you received an SMS message on your smartphone about a shoe sales (your favorite brand and style), that ended yesterday, at a location hundreds of miles away, the personalization would be without value.  Yes, it is your preferred brand and style, but not in your location or at a relevant time.  So there is something missing. We, at Cognizant's Center for the Future of Work, have identified through our research the need for CROME (contextually relevant, opportunities, moments and environments) triggers.  CROME triggers are bits of data that provide context, which can be used to provide relevant personalization at a specific time and place. For e

How Do Mobile Experts Use Mobility and What Does it Mean for Retailers?

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One hundred percent of mobile experts in our recent survey of 108 mobile experts purchase products online.  Ninety percent have purchased products and services using mobile devices, but only 13% use mobile devices exclusively for purchasing products. Forty-five percent typically use only desktops/laptops, and 40% use both equally.  These are some of the findings from the survey we conducted in May of 2015. How often do mobile experts purchase products and services using their mobile devices?  Only 1% purchase products using mobile devices daily, 30% weekly, 43% monthly and 20% once every three months. Wow!  I am a one-percenter!!!  I use my Starbuck's app and Apple Pay often multiple times in a day. In another recent survey of 5,000 people in North America that I was involved in titled Cognizant's 2015 Shopper's Survey, we found 73% still prefer using desktops/laptops for online purchases. This does not mean mobile devices were not used in the path-to-purchase jo

Mobile Commerce Strategies - Contextually Relevant Opportunities, Moments and Environments

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In the early 1990s major retailers began investing in data analytics to better manage their stores and warehouses by analyzing individual store sales.  This insight gave them a perspective on the needs of the local market. Retailers soon advanced in their use of analytics and added external factors for consideration and planning like demographics, weather, geography, local events and competitor's promotions and campaigns. When customer loyalty programs tied to POS (point of sale) systems were implemented, retailers were able to start understanding individual customers through their transaction histories - at least what individuals bought from their stores.  The limitation, however, was this data was known and analyzed post-sales. There were no mechanisms in place to alert retailers to help customers during their path-to-purchase journeys. Mobile computing technologies and wireless internet access introduced the age of mobile commerce. Mobile commerce enables retailers unprece

Mobile Consumer Behaviors - The Seven Essential Questions

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Digital Transformation is the process of updating your business and IT infrastructure to align with today's and tomorrow's consumers.  Today that is important, but hard to do.  Mobile consumer behaviors are changing far faster than most IT budgets and initiatives and that can cause problems.   If your customers are adopting technologies and changing their path-to-purchase journeys at a pace that is faster than you can deliver, then you are opening up an opportunity gap for a more nimble competitor. Do your internal sales and executive strategy sessions begin with these questions: Where are our customers to be found?   What technologies are our customers using?   How are our customers' path-to-purchase journeys' changing?   Are we meeting our customers along their path-to-purchase journeys and supporting them? Are we digitally transforming at a pace that will keep us aligned with our customers' pace of change?   Is our IT budget aligned with the required p

Mobile Apps - Personalizing While Respecting Personal Privacy

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All the data I have been reading this week suggest mobile users want and value a personalized experience on their mobile apps or mobile website, but on the other hand they don't like giving up their personal data.  That means it is imperative to find the right balance so a mutually satisfying relationship can be fostered.  As we all know, the more data you have on an individual, the easier it is to configure a personalized experience. In a fresh Cognizant survey this week involving 5,000 participants, 68% reported they are willing to provide information on their gender, 55% their age, and 65% their brand and product preferences, but the majority are not in favor of volunteering much else.  That is an interesting answer since 80% of the same survey participants belong to one or more loyalty and rewards programs, and the biggest reasons according to 74% are the points or rewards for each dollar spent .  The second biggest motivation was automatic discounts for loyalty program me

Telling the Brand Story with Mobile Applications and Code Halos

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Click to Enlarge "48% of eBay’s transactions globally are now touched by mobile at some point in the transaction." ~ Jonathan Gabbai, Head of International Mobile at eBay The pace of change in retail today is crazy!  Consumer behaviors are changing as fast as new mobile applications are being released.  I don't envy the role of the IT strategy team or the marketing team in a retail operation today.  The shopping experience is changing monthly.  The way consumers research products and pricing is changing.  Customer expectations are increasing, and customer loyalty is a fleeting goal.  On top of all this, we (the consumer) are quickly finding ways to ignore mobile advertisements. Juniper Research predicts smartphone and tablet users will make 195 billion mobile commerce transactions by 2019, up from 72 billion in 2014.  That massive increase, represents fewer visits to expensive big box stores for most customers. This trend will most definitely impact retailers'

Mobile Commerce News Weekly – Week of November 23, 2014

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The Mobile Commerce News Weekly is an online newsletter made up of the most interesting news, articles and links related to mobile commerce and marketing, mobile payments, mobile money, e-wallets, mobile banking, mobile ads and mobile security that I run across each week.  I am specifically targeting market size and market trend information. Also read Connected Globe News Weekly Also read Field Mobility News Weekly Also read Mobile Cyber Security News Weekly Also read Mobile Health News Weekly Also read Mobility News Weekly Looking for an enterprise mobility solution?  Read the Mobile Solution Directory Here ! Shoppers are going mobile in larger and larger numbers, according to on-line retail data leader comScore. Mobile digital commerce is expected to have grown by 25 percent over the last season, almost twice the growth of desktop E-commerce.  Overall digital commerce is expected to grow by 16 percent, reaching $61 billion.   Read Original Content Powa, a commerce speci

Digital Transformation and Code Halos - 12 Trends that are Impacting Banks Today

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The banks of the future, will not look like the banks of today.  I have met with the business and IT strategy teams of many banks around the world over the past 12 months.  These discussions have been some of the most interesting as there is a sense of urgency.  The banking and financial services industries are feeling tremendous pressures from both internal and external sources to respond quickly to emerging mobile and online technologies, and the changing behaviors of consumers.     Here are 12 talking points from my latest workshops: Mobile and online technologies are transforming the way banks serve clients Mobile banking adoption rates will reach 33 percent this year, up from 20 percent in 2011. Source: Swacha Mobile payments will reach $90 billion by 2017, up from $13 billion in 2012.  Source: Forrester’s 2013 US Mobile Payments Forecast report 60% of smartphone or tablet users who switched banks in the fourth quarter said mobile banking was an important factor in the de

Mobile Commerce News Weekly - Week of December 8, 2013

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The Mobile Commerce News Weekly is an online newsletter made up of the most interesting news, articles and links related to mobile commerce and marketing, mobile payments, mobile money, e-wallets, mobile banking, mobile ads and mobile security that I run across each week.  I am specifically targeting market size and market trend information. Also read Enterprise Mobility Asia News Weekly Also read Field Mobility News Weekly Also read Mobile Cyber Security News Weekly Also read Mobile Health News Weekly Also read Mobility News Weekly Looking for an enterprise mobility solution?  Read the Mobile Solution Directory Here ! Digital security firm Oberthur Technologies has partnered with mobile services specialists mBank in a project aimed at bringing together the m:Wallet solution from OT’s MoreMagic subsidiary and mBank’s experience in branchless banking, to provide mobile branchless banking including merchant payment, money transfer, loans, credit and insurance.   Read Original

Mobile Expert Video Series: Shishir Kapoor on Mobile Payments and Security

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In this Google+ Hangout interview with Cognizant 's mobile payment expert Shishir Kapoor, we discuss the details of mobile payment systems, Truzign , the problems and challenges and how they can be solved.  Warning - the video recording seems to skip a bit (blame Google) but there is some great information here. Video Link: http://www.youtube.com/watch?v=_BnHU0ffNLs&feature=share&list=UUGizQCw2Zbs3eTLwp7icoqw ************************************************************* Kevin Benedict , Head Analyst for Social, Mobile, Analytics and Cloud (SMAC) Cognizant View Linkedin Profile Learn about mobile strategies at MobileEnterpriseStrategies.com Follow me on Twitter @krbenedict Join the Linkedin Group Strategic Enterprise Mobility ***Full Disclosure: These are my personal opinions. No company is silly enough to claim them. I am a mobility and SMAC analyst, consultant and writer. I work with and have worked with many of the companies mentioned in my

Mobile Banking, Mobile Payments and Digital Transformations

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I read with interest (no pun intended) an article today titled, The Future of Mobile Payments and Banking , from Cognizant's banking and financial services expert Tony Virdi.  In the article he identifies a number of mobile and digital trends he is seeing in 2013 including: Changing consumers behaviors and demands are driving transformation within the banking and payment processing industries The volume of digital (mobile and Internet) banking transactions is growing exponentially The role of the bank as a physical venue or outlet has changed as most transactions are moving online or mobile Digital bankers [I read mobile/Internet bankers] are rapidly becoming the new power base Retail banks are increasingly dedicating discretionary budgets to investments in digital solutions Banks can increase their wallet share and income by offering more and better digital services Banks are increasingly focused on m-commerce as a means of both providing better customer service as well as

Mobility is the Conduit of Business Transformation

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This week I am teaching mobile and social strategies and will be visiting four countries in four days.  This type of schedule is a blur of airports, meeting new people and learning more about how mobile and social solutions are being used in the real world.  While on these trips I have a lot of time to ponder on flights. I have been thinking a lot lately about the the word conduit - a means by which something is received and/or transmitted , as a useful way of describing mobile devices .   Mobile devices are a conduit for voice communications.  Mobile devices are a conduit for social networks.  Mobile devices are a conduit for email, news, data collection, photos/videos, and now as e-wallets and mobile payments.  So much of our lives are now run through this conduit. In the last couple of weeks I have spent time with over a dozen companies keenly interested in the impact of mobility and social trends on their business.  In each case, the impact will be different, but significant

Mobility News Weekly - Week of January 2, 2012

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The Mobility News Weekly is an online newsletter made up of the most interesting news and articles related to enterprise mobility that I run across each week.  I am specifically targeting information that reflects market data and trends. Also read Field Mobility News Weekly Also read M2M News Weekly Also read Mobile Commerce News Weekly Also read Mobile Marketing News Weekly Also read Mobile Health News Weekly Also read Mobility Charts Weekly The smartphone and tablet buying rush over the holidays spilled over into a corresponding deluge of app downloads, with the total weekly number exceeding one billion for the first time.   Read Original Content RIM’s share of U.S. mobile phone subscribers in the three months through November dropped to 6.5 percent from 7.1 percent in the previous quarter, according to research firm ComScore Inc.   Read Original Content According to market research firm NPD Group, the demand for tablets is expected to grow in the small and medium busi

Mobility Charts Weekly - Week of January 2, 2012

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The Mobility Charts Weekly is a weekly publication of charts depicting the current and future status of the enterprise mobility market.  I am specifically targeting information that reflects market data and trends. comScore recently released new numbers on U.S. online holiday spending for the season-to-date, and found that consumers continued to shop online in record numbers. For the first 56 days of the November to December 2011 holiday season, $35.3 billion was spent online – an increase of 15 percent over the corresponding days last year, and a new record. Read Original Content Pew Research has recently studied the relationship between per capita income and technology.  In a recent study they found that as a country’s per capita income increased, so did the number of mobile devices and overall usage of social networking. Read Original Content According to comScore’s latest mobile subscriber data for November, the percentage of users who use apps has finally surpas

Mobility News Weekly - Week of December 19, 2011

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The Mobility News Weekly is an online newsletter made up of the most interesting news and articles related to enterprise mobility that I run across each week.  I am specifically targeting information that reflects market data and trends. Also read Field Mobility News Weekly Also read M2M News Weekly Also read Mobile Commerce News Weekly Also read Mobile Marketing News Weekly Also read Mobile Health News Weekly Also read Mobility Charts Weekly Syclo has announced that its Agentry Mobile Platform, SMART Work Manager and SMART Service Manager have been named as winners in the tenth annual Mobile Star Awards program.   Read Original Content Korean consumer electronics giant Samsung has emerged as the most popular smartphone maker in the UK during 2011.   Read Original Content The smartphone market in China seems to be ever expanding, and adding to the sea of handsets is the recently launched Dell Streak Pro. This mobile device has been built as a follow up to the Dell Strea

Mobility Charts Weekly - Week of December 19, 2011

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The Mobility Charts Weekly is a weekly publication of charts depicting the current and future status of the enterprise mobility market.  I am specifically targeting information that reflects market data and trends. According to a Prosper Mobile Insights survey, 23.5 percent of smartphone and tablet owners say their device has been an integral part of their holiday shopping experience so far and they could not shop without it. Read Original Content The cellular M2M embedded module market experienced a more difficult than expected year in 2010. Although total unit volumes continued to rise, reaching nearly 34 million units shipped in 2010, total industry revenue fell from roughly $996 million in 2009 to about $841 million in 2010, reversing the upward momentum in revenue seen in 2009 as the market rebounded from its 2008 lows. Read Original Content The market for EPC RFID hardware exceeded $354 Million in 2010, an increase of more than 140 percent over 2009.  VDC antic

Mobile Medical News Weekly - Week of December 12, 2011

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The Mobile Medical News Weekly is an online newsletter made up of the most interesting news and articles related to medical mobility that I run across each week.  I am specifically targeting information that reflects market data and trends. Also read Field Mobility News Weekly Also read M2M News Weekly Also read Mobile Commerce News Weekly Also read Mobile Marketing News Weekly Also read Mobility News Weekly Also read Mobility Charts Weekly The U.S. Department of Agriculture has granted a total of $30 million for 100 telemedicine projects in 34 states and one territory, according to a USDA news release. Read Original Content Mercy Health System in Philadelphia created a highly targeted app three months ago for its bariatrics program. The app allows users to upload a photo of themselves and change their body image with a stroke of a finger to view what they might look like after weight-loss surgery. Since the app went live it has been downloaded nearly 1,300 times and used