Mobile Commerce Minute

Adoption for mobile payments happens when it hits on something that lots of people do every single day. Buying a chocolate bar or a lottery ticket doesn't cut it, neither do groceries. Starbucks has nailed it and so to has the Mass Bay Transportation Authority. Lots of people take the bus every single day. Could the bus be the tipping point for mass adoption of mobile commerce? Watch on to understand why we think so.

If you are wondering where all the money is being invested into and earning from in mobile we have the answer: Mobile Commerce. It has taken in almost 50% of all investment money and is slated to dominate earnings for years to come. Just how big is it? Chuck answers that question based on a new Digi-Capital study. Hint: It's big and getting bigger.

We highlight the top 3 monstrous obstacles to mobile payment adoption in this episode based on the results of a study by the Mercator Advisory Group. However, there is a fourth obstacle and it is something Chuck says as the final word of this episode - it starts with the letter "v". Watch on to find out.

Now there is no excuse. Mobile payments are upon us as every major smartphone operating system and platform will have the capability to make a payment by years end. The latest is Google's announcement of Android Pay at Google IO. We take this opportunity to lay out the main players - both in software and hardware - as it finally looks like the earth will be blanketed by the tech to enable mobile payments. The question is when do the consumers latch on...

A year ago beacons were the rage. Today they are a reality and the lessons that have been learned during the first real year of beacon implementations are many. Chuck had an opportunity to moderate a recent panel that featured 4 of the top beacon minds in retail and he summarizes what they have learned in this episode.

There are gaps in the way retailers implement their mobile strategies. Take, for instance, the results from the Mobile Payments and Fraud 2015 report highlighted in this episode. Chuck identifies where the opportunities exist between how merchants are using mobile and how consumers are interested in using mobile with those merchants. The gaps are wide and the opportunities are bountiful - provided it becomes a priority.

Fighting the tyranny of the average - that's how Lucinda Duncalfe describes our current mobile and digital state and she is not far off. At a recent event, Chuck had an opportunity to sit with the Monetate CEO to talk about her 5 levels of the path to personalization and here is the result.

NFC hoopla reached a fevered pitch right before Apple finally announced support for the tap-to-do-stuff technology. Since then it seems to have hit a silent stride in the market beyond the initial feeling it would be yet another mobile payment platform. Chuck stopped by the NFC Forum in Boston and was treated to a number of seriously cool examples of what NFC can and will be doing for us in the near future.

This isn't new. The idea that time & location married with supply & demand brings untold opportunity has been around since long before mobile, the Internet, computers and electricity. What is different today is the fact all 4 of those things are at our disposal all the time and with it comes the ability to provide on demand relevancy. How does this work? Chuck explains it all in this episode. The key takeaways are that it does work and it does drive higher revenue. Period.

There's a number for you. Mobile now influences $1 trillion of in-store sales. This is according to the most recent survey results from Deloitte Digital. Navigating the New Digital Divide highlights the growing importance of tracking the entire mobile shopping journey and not just the transaction as many other studies do. Mobile influences much more than payments and this proves that in spades. Chuck highlights the results in this episode.