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“Why use a mobile wallet (or, isn’t a credit card fast enough?)”

  • November 2012
  • Posted By Janet Muto
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Panel 1 Take-aways From The Mobile Commerce Summit

Janet Mutoby Janet Muto

The first panel at the Mobile Commerce Summit (part of the FutureM conference), “The War for Your Customer – Loyalty, Acquisition, and Customer Delight in the age of Mobile Commerce” was moderated by Janet Muto (Managing Partner, High Start Group).  The panel focused on the top issues facing consumers and retailers and what the panelists’ expected would drive consumer or retailers to mobile commerce. The three panelists were Andy Miller (Director of Mobile Products, Constant Contact), Joshua Robin (Director of Innovation, MBTA), and Mike Grimes (SVP Mobile Commerce, Catalina).

“There is a lot of change and uncertainty in the mobile payment place- so sit back unless you are a large player,” stated Joshua.   “76% of T customers have a smartphone, and that number will grow. A big player has the skills and resources to create the seamless experience that these customers are asking for in their daily life.

“The inherent trust that consumers have in Apple sets up Passbook to take over mobile commerce,” according to Andy.   “A study conducted that revealed 1 in 10 people would bank with Apple if Apple offered banking services. And this is a company who’s never done anything in banking; its Apple’s reputation that consumers are willing to put their faith in.”

Mike believes that relevancy is the key to unlocking mobile commerce: “lots of smart people think that just because we can communicate to mobile users means we know what they want; but knowing you are near a CVS and sending you a coupon for Walgreens is not going to get you to go there instead…it will just annoy you.  It’s about relevancy more than ever—mobile is a personal device so communications via that channel had better be personally relevant.”

Janet Muto summed up the panel by explaining, “there has to be a compelling reason to use a mobile wallet– if not, credit and cash work just fine:  convenience and/or rewards are two critical elements that will make a mobile wallet app compelling. To increase, convenience, the MBTA is offering mobile ticketing which saves a significant amount of time for the consumer (ticket can be purchased on phone and phone can display ticket…no paper needed).  Level Up, with its combination of mobile wallet and rewards, is also an example of using both convenience and loyalty to leverage mobile commerce.”

Stay tuned to see the highlights from the other panels and keynote at the Mobile Commerce Summit!

 

 

 

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