Marketing Mobile Payments is a Necessity in 2016

In your efforts to market your brand, what role do mobile payments play in 2016?

If the answer is not that big of a one, do all you can to change that sooner rather than later, especially given the fact that mobile payments don’t seem to be falling off the popularity wagon in the foreseeable future.

As more and more consumers turn to their mobile devices to shop and ultimately buy products and services, while more business owners set up mobile payment options for said consumers, it is important that marketers don’t overlook this pattern.

So, will you be marketing mobile payments this year and beyond?

Brands Focused on Mobile Marketing Stand to Win

For those brands that have let the mobile marketing and payments phenomena pass them by in recent years, opportunities still abound.

Among the advantages for marketers in pushing the benefits of mobile payments to both consumers and business owners:

  • Saving the customer and business owner time – With mobile payments, businesses can do provide customers with a receipt via text or email. Not only is this beneficial for the customer, but the business owner doesn’t have to spend tons of money in expensive POS (point of sale) terminal equipment. Another plus is the fact that both today’s consumers and business owners are busier than ever. As a result, time is of the essence in many cases. If a business owner is traveling for business, he or she is able to process mobile payments right from their mobile device, thereby not keeping the consumer waiting on a purchase;

  • Cash can take a back seat – Even though many consumers still pay for products and services with cash, a sizable percentage of shoppers enjoy not having to carry around wads of cash, especially in areas of town where they could be at risk for a potential crime. Having mobile payments in play allows the individual to use a debit card for example to make a payment;

  • Buying on the spot – Remember a moment ago the discussion involving cash? When consumers are carrying small amounts of cash on them (or none at all for that matter), they are typically less inclined to make purchases. When business owners accept mobile payments, a consumer can charge that item or use their debit card to get the item or items they desire or truly need while out;

  • Organized selling and buying – With cash transactions, some folks (especially consumers) might have a hard time keeping track of what all they purchased. Using the mobile route, there is an electronic trail of each and every acquisition, thereby giving both the consumer and business owner easy access to tracking purchases. The consumer will especially appreciate this in that they don’t have to try and remember how much was spent on each item (something that can be cumbersome) when using cash;

  • Safety truly does matter – For both the consumer and the business owner, avoiding cyber-crimes and other related criminal attacks (cash being stolen etc.) is always a priority. In using mobile payments, consumers do not have to worry about their credit card information being a potential target. It is also important to note that mobile payment applications have user-selected PIN protection, thereby decreasing the odds of a security breach;

  • Rewarding the top customers – In today’s challenging economic times, many consumers want and need to take advantage of savings whenever making purchases. With mobile payments, business owners can study where consumers are doing their most shopping and buying, allowing them to see patterns form. In doing so, the consumer can become eligible for rewards programs through his or her shopping and purchasing habits.

While there are still many consumers and some business owners for that matter needing to be swayed on mobile payments, the pendulum is definitely moving in the direction of more mobile device usage in the shopping and buying experiences.

Marketing mobile payments is something marketers can and should be doing this year and moving forward, allowing them to interact with millions of consumers and business owners.

In the end, mobile payments prove a win-win scenario for both the shopper and the seller.