Retailers Considering Mobile Contactless Payments

By October 27, 2008

Retailers are acknowledging the advantages of mobile contactless payments, and many of them are considering using near field communications (NFC), to speed up payment and to increase customer satisfaction and loyalty, within the next two years. 80 percent of the companies in a recent Aberdeen survey were aware of mobile payments and NFA, compared to sixty-three percent in 2007. 52 percent of companies are exploring ways to incorporate mobile payment systems within the next two years.

"It is evident from our data that the number of companies that are aware of and executing the initial steps involving mobile payments and NFC acceptance has doubled in 2008 compared to 2007 due to mobile payments ecosystem development as well as the changing economic climate," says Sahir Anand, senior analyst for Aberdeen.

50 percent of what Aberdeen considers Best-in-Class respondents are considering mobile payments for customer loyalty; 45 percent for customer convenience, and 31 percent for point-of-sale efficiency

“Customers are keen to consolidate as much as possible into their cell phones; calendars, email, web access, communication . . . and now their wallet,” explains Virgin Megastores CIO Robert Fort. “They are busy, and appreciate any efforts to expedite the payment transaction.”

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