Mobile Payment Revolution in Retail

Mobile Payment Revolution in Retail

PDF: Mobile Payment Revolution in Retail Landscape and Opportunities - IDC Retail Insights Executive Insights. The global payment market remains one of the most active technology markets in terms of disruption, interest, and investment. Given a decade of unprecedented transformation brought about by new payment methods, technologies, business models, and competitors, the market has only just begun to integrate innovative technologies like blockchain, artificial intelligence (AI ), voice commerce, and the Internet of Things (IoT)....
Read More
Leveraging mobile payment to improve customer experience

Leveraging mobile payment to improve customer experience

Source: RetailinAsia The retail mobile landscape is highly dynamic in terms of the technology advancement as well as customer’s expectations. IDC Retail Insight’s annual predictions have a three-year perspective, and we are seeing that our predictions are in fact unfolding in the retail industry. In IDC FutureScape: Worldwide Retail 2017 Predictions — APEJ (2017 and 2020), we have predicted that the retail mobile technology investment will double in 2018 and one of the top priority for Asian retailers will be improving the mobile-enabled experience in physical locations. India, China, Indonesia, Singapore and Hong Kong, will lead the retail mobile investment, driven by multiple device ownership in those markets. As payments sit at the very core of this digital transformation, it will have a significant impact on the strength of the customer relationship. The retail industry is among the most innovative in the world and investing in retail mobile platform to attract, retain and proactively support customer through providing information to consumers at...
Read More
Proximity Mobile Payments in Asia/Pacific: Who Are the Winners?

Proximity Mobile Payments in Asia/Pacific: Who Are the Winners?

This IDC Retail Insights Perspective reviews the proximity mobile payment (mPayment) market, with specific attention paid to players in Asia/pacific. The mPayment market is now entering into a new phase, one with increased competition, changing customer expectations, and shifting technologies such as RFID and NFC. Ubiquitous mobile devices are driving merchants, especially small retailers, to adopt remote payment as an alternative to proximity mPayment. However, as the market continues to evolve it is likely that many mPayment service providers will lose competitiveness unless they adopt a collaborative strategy."The mobile payment technology has shifted the retail payment space and disrupted the traditional banking retail payment model, bringing smoother and more convenient transactions to both consumers and merchants. Now, the mPayment is part of every retailer's payment processing model and the future belongs to those players who imagine the future possibilities, win the customer's heart, and offer choices to merchants, providing unified and regionally accepted mobile payment services," said Mike Ghasemi, Research...
Read More