While mobile payments gather steam as a retail option, the majority of payments are still believed to be made by a particular class of users known as “smartphonatics.”
The term comes from a recent study by ACI Worldwide and Aite Group that looks at mobile payments penetration. Mobile payments can mean a variety of purchasing options, including SMS-based transactional payment, in-app payments, direct mobile billing, contactless payments, mobile commerce and/or web payments and a variety of others, the website Technology Spectator reports.
However, the majority of these are being made by a core group of smartphonatics – individuals who use their smartphones for a variety of retail purchases and payment as well as interactions with their financial institutions.
These are not the consumers that retailers need to look for, though. Mobile payments may seem mainstream for “smartphonatics,” but tamer mobile device users need guidance and reassurances about the safety of the payment gateway.
Businesses can help spur consumer use by educating their customers. For example, companies can try sending out emails or text messages detailing the benefits and security measures of mobile payments.Back To Blog