The demand for mobile payments is coming

Mobile technology is moving at a rapid pace and recent research shows that retailers need to be committed to evangelizing technologies that they plan to adopt in the future.

With 57 percent of retailers considering mobile payments or Near Field Communications (NFC) as part of their mobile strategy it is their responsibility to educate and encourage consumers to embrace new gadgets on the market, before their competitors grab those influential early adopters.

Retailers are certainly recognizing this – however, very few are doing something about it. With most citing competitive edge and customer demand as the drivers for mobile payment technology, it is time for more organizations to start cutting through the hype and addressing the concerns that are holding consumers back – whether that be security, know-how or whatever else.

It is essential for retailers to create a good reputation in the mobile payment space so that consumers trust them when it comes to mobile payments. In our survey 39 percent of consumers wouldn’t use their mobile to pay for items in-store due to a lack of security, thereby highlighting the need to console consumer fears when it comes to mobile payments.

What makes this even more important is that consumers do want to benefit from mobile payments. With convenience placed as the top reason to use their mobile for payment – the demand for mobile payments is coming.

This shows a critical need for enterprises to assure customers that they can be trusted with mobile payments. By developing a future-looking, bullet-proof strategy, retailers can be forerunners when the mobile payments ball really starts rolling.

So, how far have retailers come already?

Not very far, is the short answer. With only 16 percent of retailers having a full mobile commerce strategy in place, the majority of retailers still have a long way to go when it comes to mobile, and they need to rethink their strategies fast.

The answer is to look to an end-to-end comprehensive mobile offering. Demonstrating that you are ahead of the game, and always provide a top quality, up to date service will win customer confidence.

Ultimately this creates the golden combination – consumers will be demanding your application, and you will be able to consistently deliver it to a high standard – despite inevitable fluctuation in the market from new devices and new technologies.

David Eads leads Product Marketing for Kony, the mobile commerce platform vendor. David is a mobile commerce veteran and was the founder of consulting firm Mobile Strategy Partners in 2009. As a blogger and frequent industry speaker, David has been interviewed about mobile for national media outlets like Mobile Commerce Daily, Marketplace on NPR, Inc Magazine, The Toronto Star, and The Christian Science Monitor. Additionally, David also has a decade of technical experience developing enterprise software systems in Java and other languages for UNIX, Windows, and other systems.