Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
Radiant Systems Expands Mobile Payment Capabilities
Radiant Systems, Inc. today announced its expanded mobile payment platform, which enables restaurant owners and retailers to pay via mobile phone.
“Historically, the checkout and payment process has created excessive wait times, caused customer frustration and resulted in bottlenecks for retailers and restaurants,” said Andy Heyman, chief operating officer at Radiant Systems. “We believe strongly that improvements in technology can leave consumers with a more favorable and lasting impression of our customers. Radiant has heavily invested in mobile payment capabilities, including several we are introducing to the market this year. While many start-ups are bringing increased attention to the mobile space, Radiant can quickly enable our customers to accept and seamlessly integrate mobile payment into their operations by leveraging our open, secure point-of-sale technology.”
Radiant has a history of bringing mobile payment solutions to market, including its Orderman handheld technology used by servers and cashiers in over 30,000 restaurants worldwide.
With consumers becoming more comfortable using technology in the palm of their hands, they are driving new demands on how they pay for purchases and interact with the businesses they frequent. Radiant is working on pilots with several companies that are planning to bring mobile wallets to market later this year. In addition, the company is adding its own mobile payment capabilities to its core product lines as well as integrating with other third party payment solutions to provide relevant functionality that meets the unique requirements of individual businesses across all of its industries.
“We are piloting the mobile pay functionality with our Aloha solution from Radiant Systems and are extremely excited about the prospects for this capability,” said Crawford Moran, co-owner of 5 Seasons Brewing Company, a restaurant group in Atlanta. “We are always looking for ways to improve guest satisfaction, and we feel enabling them to pay on their smartphones will create an improved experience and communication flow between our guests and our restaurants.”
According to Kim Eaton, executive vice president of marketing at Radiant Systems, “there are many new and competing mobile payment solutions entering the marketplace and it is our intent to support those that we and our customers believe will become most relevant to their businesses. We are in a great position to provide the solutions that have the highest impact for our customers and help them drive loyalty and engagement.”
Source: BusinessWire
Security Concerns Still Holding Back Mobile Payment Consumers in 2011
Mobio Identity Systems, an international mobile payments and marketing company, today released a comprehensive report on mobile payment adoption and use in North America called “Mobile Commerce Handcuffs.”
The report contains findings from a survey distributed to North American consumers. The report reveals that 94% of respondents would make a mobile payment if they knew it was secure. There are numerous additional significant findings, which are supported with charts, graphs, and statistics. Overall, the report highlights the significance of security as a barrier to growth of the m-commerce market.
More information: Mobile Commerce Handcuffs – Report.
Source: MarketWire
Mobio Identity Systems, Inc.
Mobio’s identity-based platform provides secure and convenient payments, and enables a broad range of other identity based services.
The company’s roots are in security and authentication, and Mobio leverages their experience to manage the transaction and transfer data between parties to optimize value for both the buyer and the seller. Coupled with 2D Barcodes, the Mobio solution can be quickly deployed through traditional marketing media and material, bringing network-based function to both physical and virtual purchases. The company provides services to payment providers, banking and point of sale partners, retailers, advertisers and consumers.
Mobio Solution
The Mobio solution involves a mobile application that runs on an expanding portfolio of smartphones, which Mobio develops and manages. The 2D Barcodes and promotions are managed with online tools that assist organizations to maximize promotional value across print, billboards, TV and internet. The solution can be stand alone, or through point of sale integration Mobio can enable buying either in venue, online, or in the mobile space.
Identity information for individuals is managed by the individual. The smartphone is an individual’s trusted device and all interactions are confirmed or rejected by the individual. Interfacing with the consumer is accomplished through online tools or even a typical point of sale. Solutions apply to wherever a 2D Barcode can be posted, which includes both the offline or virtual world.
Key Benefits
Mobio allows users to control their identity. Mobio allows for complete user anonymity, or for selective disclosure of identity as desired by the individual in both physical and virtual worlds. Mobio makes identity management and protection simple and convenient for both individuals and organizations, resulting in increased value from purchases and better management of all interactions.
The company is located in Vancouver, BC, CANADA. Clovis Najm is the company’s CEO and founder, and Tim Baur is the CTO. More on Mobio’s management team.
More information: Mobio.
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