I, like many others in the retail industry, was hoping the iPhone 5 would include an NFC chip that enabled a mobile wallet. In previous postings I've discussed the possible business case and the foreshadowing of Passbook, but it wasn't meant to be. A few weeks ago I was considering all the rumors, and it suddenly occurred to me that it wasn
Reuters recently reported that Walmart was testing an iPhone-based self-checkout at a store near its headquarters. Consumers scan items as they're placed in the physical basket, then the virtual basket is transferred to an existing self-checkout station where payment is tendered. A very solid solution, but not exactly original.
Before we go further, let's look at the possible cost savings for Walmart. According to the article:
In my previous post, I mentioned the importance of determining the location of a consumer using their mobile phone. Retailers can track anonymous mobile phones to determine traffic patterns both inside and outside their stores. And with consumers' permission, retailers can send location-aware offers to mobile phones; for example, a coupon for cereal as you walk down that aisle. When paying with Square, your location is matched with the transaction. So there are Aug 30, 2012 8:37am
Over the last ten years, mobile phones have gone through several incremental technology leaps that have added capabilities that impact the retail industry. I've listed the six major ones below, along with their long-lasting impact.
In order to sell a new product, you have to solve a problem. Emerging payment methods, by themselves, aren't really solving any problem. What's the pain point? Credit and debit cards work just fine (although EMV certainly helps reduce fraud, and retailers would love lower rates).
Back in 2009, ARTS (a division of the NRF) began to collect information on the use of mobile devices in the retail industry. A committee was assembled consisting of retailers, vendors, analysts, and standards organizations for the purpose of authoring the first retail-specific whitepaper addressing mobile marketing, mobile commerce, mobile payments, and mobile operations. The tremendous reception of document led to a Aug 09, 2012 6:27am
At a past job I recall slaving away in Mastercard's facility in Purchase, NY testing my implementation of a stored value system called Mondex when the project manager walked in and told me to stop working so hard. I was completely confused as there were deadlines to meet, but a few days later Mastercard announced is was dumping Mondex in favor of something called EMV. That was over 15 years ago and EMV has yet to take hold in the US -- but its coming soon.
July 1st was a dark day at my house because that's when Amazon started charging sales tax to Texas residents. Now instead of automatically knowing that the Amazon price was likely lower, I have to consider tax in my comparisons. I'm not hitting that "add to cart" button quite so fast. Why would Amazon surrender in its well publicized battle with states to collect tax? Farhad Manjoo over at Slate wrote an Jul 12, 2012 7:38am