Dial 'M' for Mobile Payment

We are in the process of developing an interface between a mobile payment provider and our enterprise resource planning (ERP) system for a major client at the forefront of retail developments. What is this mobile payment wave all about?

Not surprisingly, as the number of mobile handsets around the world has exceeded the one billion mark, there is substantial interest in mobile payment mechanisms among retailers, banks, vendors and payment networks. Mobile payment is a new and increasingly popular alternative payment method. Instead of paying with cash, cheque or credit cards, a consumer can use a mobile phone to pay for a wide range of services and goods.

The mobile payment provider offers cross-operator and cross-border opportunities for consumers to buy goods simply, quickly and securely using the mobile device that they always have with them. The consumer can transfer money, buy airtime and electricity, make point of sale payments at retailers and pay bills from their mobile phones.

Benefits of mobile payments to the consumer:
• Mobile payments are cheaper than banks
• Mobile payments are secure
• Mobile payments are convenient (buy airtime and electricity from home)
• Mobile payments are fast – money is available immediately
• Mobile payments are available to everyone, on any cellphone and on any network
• Mobile payments saves you time: buy airtime and keep on watching that
soccer game on your couch
• Mobile payments are cool

Benefits of mobile payments to the merchant:
• Reaches new target groups, such as the unbanked, migrant workers and the
youth market
• Boosts revenue per customer and increases transactions by providing a new
channel to existing customers.
• Separates brand from the competition by offering modern, customer-focused
services.
• Provides customers with a convenient, secure and instant service
• Savings in banking fees
• Commission received for cash payouts

In my view cash and cards are old news. Mobile payment is the future!

For more information visit the QBCon homepage.

The value of a loyalty system

QBCon installed a loyalty system for an important client in June 2009. Initially only staff members could receive the loyalty benefits. In December the client ran a promotion for the loyalty system to all its clients. All sorts of projects were launched to encourage the clients to join the loyalty scheme, including competitions. The client spent a lot of money and time on the development and deployment, as well as promotion of this new system. But what benefits can the client receive from this type of investment?

The information obtained from the loyalty system is worth gold. Detailed information of consumer preferences and spending patterns can be used to negotiate with product suppliers. Products obtained at a discounted rate will be placed on promotion that will increase the sales figures to the benefit of both parties. It will also create the opportunity to launch exciting competitions to further encourage buying. This program will encourage loyal buying behaviour in current clients and entice new clients.

Marketing research will also be made easier. Our client will be able to identify each client’s favourite product, determine which clients are most valuable for the business and identify the product that was sold the most over a given period.

The system can also be used to send e-mails and SMS messages to the loyalty clients. These messages can be personalised or promotions. This interaction with the clients will keep them informed and create a positive attitude towards the business.

The profit they make from this scheme will far outgrow the initial expenditure and the benefits will only grow as time goes by.

For more information please visit the QBCon homepage.