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The Two Speeds of Mobile Commerce Ignition
1. The Two Speeds of Mobile Commerce Ignition
October 17, 2013
PYMNTS.com
Proprietary and Confidential
2. Why Ignition Will be Slow
Unconvinced merchants
with long POS
replacement cycles
“…based on every
conversation I’ve had
with wallet providers
today, I can’t use those NFC
readers for couponing and
loyalty…that’s tens of millions of
dollars we just invested a little
over two years ago and that
hardware is worthless to me…”
Consumer “muscle
memory” & lack of
motivation
Tension amongst major
stakeholders
2012 UK Study
68%
64%
52%
I’ve never met a single merchant
in the U.S. who says I want this
NFC thing,”
Worried
about theft of
acct &
payment data
2|
Ok with how
they pay
Concerned
about fraud
& security
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3. Why Takeoff Could Happen Sooner & Be More Rapid
•
Innovations in cloud-based solutions with slick interfaces persuade merchants they need to
change POS experience: innovative retail or die
•
Competition among “app” developers results in “killer” app for mobile payments leading
consumers to want to use it and merchants to want to take it.
•
A “Black Swan” emerges with a mobile solution no one had every thought about
Apple iBeacons Ecosystem
Total iTunes Accounts
In Millions
iOS-Powered POS Systems
575
400
160
10
50
Ave square meters per store: 16,258
Beacons to cover
an entire store =
75
NFC Tags for
100k products =
$5,000
200
2005 2008 2009 2010 2011 2012 2013
3|
SAMPLE iBEACON ECONOMICS
$10,000
Source: Gigaom, Estimote
Proprietary and Confidential
4. To learn more about the speeds, depth and changes in the mobile commerce
ecosystem, join PYMNTS.com virtually each month for the Mobile Commerce
Insider Series.
To learn more, please visit The PYMNTS.com Mobile Commerce Insider Series or
contact Jacqueline Murphy at jmurphy@pymnts.com
Proprietary and Confidential
Notes de l'éditeur
DW NOTES: X million POS terminals would need to be modified or replaced in the USMillions of merchants with sunk cost investments in POS technology which is costly to replace. Very hard to get merchants to make investments in new POS technology. Need to know that it is the technology that will be used in the long run by consumers. Leads to massive inertia.Consumers have excellent payment solution now, “muscle memory”, nervousness (they say) over security.Continuing tension between major stakeholders including networks, merchants, telecoms, banks, regulators.
Innovations in cloud-based POS solutions with slick interfaces persuade merchants they need to change POS experience. [Beacon, iPad, etc.]Competition among “app” developers results in “killer” application for mobile payments leading consumers to want to use it.
