4 Mobile Wallet Apps That Power Profits for Your Business
According to a recent report, social media giant Facebook plans to test a mobile payments service. Interest in mobile payments from one of technology’s hottest players serves to redouble interest in how this market is heading in the near future. Visa, Mastercard, and PayPal are the mobile payments services heavy-hitters, though newer entrants such as Stripe, Braintree, PayLeven, and mPOwa give vital competition in the rapidly emerging and competitive market.
With the systems and more funding in place to spread these technology systems, these businesses are thinking of credible, long-term business gains. As such, the mobile payment apps market is also thriving.
Mobile wallets, created with providers such as Google, promise to redefine the era of the wallet. Statistics portal Statista issued data which says that mobile wallet users will grow from 2.7 million in 2011 in the US to 48 million in 2016. Merchants can sign up to the providers, meaning that they offer customer contemporary m-payments options either through a specific app or through use of a designated card reader. The result is faster, more secure, and easier payments leading to profits, and it offers customers another accessible way to pay for goods, which can endear them more to stores and merchants.
As more consumers go online to shop and to share their digital identity it is held that the m-payments "experience" is set to change "cash" behaviours, perceptions of convenience and mobile marketing, and shopping opportunities related to user experience.
With this in mind, here’s a snapshot of four key mobile wallet operators, all based on the iPhone, which allow small merchants and consumers alike to embrace these dynamic possibilities:
A free app available on the iPhone, iPad, iPod touch, and Android devices. Customers link their credit or debit card details to a desired merchant that is signed up to the service. For the merchant, there is a SumUp card-reader, which enables the transaction to take place. It has a large number of merchants registered with its card-reader system. Customers are given an easy option on how to pay for small purchases without having to use their plastic cards.
Zwallet
Produced by UK startup CloudZync, this is available on iOS and Windows Phone with an Android version app due out late this year. It works between merchants and customers to forge better relationships. The app will save all the payments made by a customer in retail outlets and shows their favourite purchases as well as allows them to preload money for later spend. For merchants, it produces offers and a loyalty marketing scheme.
The app is available on the iPhone as well as Android, Microsoft Windows, and Blackberry phones and devices. It’s possible to download it quickly and it is secure for transactions on a device or through a card-reader. The speed of the download makes it promising for merchants and user, and when a card-reader will be launched there will be plenty of room to make this a more broadly used app.
The app is available on Android 2.2 and above and is optimized for iOS 5 or higher on Apple products. The free app can be downloaded and can be used in 5,000 locations, and is know for partnering with a large number of local chains. Once a consumer or merchant signs up they get a QR code. The code is used as a way to process payments at local businesses. Merchants are promoted by LevelUp to customers with credit offers. Money spent by customers at a store over time means money saved over time.
About the Author
Post by : Laura Abrar
Laura Abrar developed her career in public relations and communications for global leading technology brands, as well as in digital marketing for SMEs in the United Kingdom.
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