Germany, Berlin/Mainz, July 10, 2014 – Mobile payment is attractive for consumer and retailers – provided that it has the right strategic approach. This is the key finding of Stefan Krueger,
Germany, Berlin/Mainz, July 10, 2014 – Mobile payment is attractive for consumer and retailers – provided that it has the right strategic approach. This is the key finding of Stefan Krueger, General Manager and Founder of valuephone GmbH, leading company in mobile couponing, payment and loyalty management for retail in Germany. In his speech, held at WirtschaftsWoche-Conference on „Future of Payment Systems - Cash, Cards & Mobile between efficiency and security questions” on July 9, 2014, in Mainz, Stefan Krueger pointed out the main critical success criteria for mobile payment systems.
Essentially for the acceptance of mobile payment systems is the inclusion of payment in other mobile services. A smart combination of mobile payment and couponing or shopping apps are the right way to create value added for the consumers, named Stefan Krueger as example. In the eyes of many consumers, mobile payment as pure payment solution does not show enough advantages compared to existing cashless payment systems. “Mobile payment solutions must be more than payment”, said Stefan Krueger in Mainz yesterday. Further consumer expectations on mobile payment systems are easy and secured processes. Also, the mobile payment systems should function without additional hardware except the mobile phone as and must avoid extra costs for consumers.
Consumers and retailers are facing one common challenge: the trade-off of security and usability of mobile payment systems. Especially the registration process of real and secured mobile payment systems often shows various steps, to verify the digital authentication. One the one hand, every step makes the registration safer, on the other hand, some consumers see this process as complicated and time consuming. As for Stefan Krueger, the solution is to offer consumer one secure registration with many different mobile payment and shopping opportunities. Therefore further registration processes could be avoided for the consumer.
From the retail perspective, successful mobile payment systems are easy to integrate in existing retail processes in terms of check-out at the cashier and of marketing activities. Indispensable is to avoid any trading with consumer data or mobile payment systems, based on business models, which includes reusing consumer data. The valuephone manager mentioned the cost level of mobile payment systems as further critical success criteria. Facing the low margins in the German retail markets, mobile payment systems should not lead to higher costs than payments with credit or banking cards for retailers. Therefore mobile payment systems need smart and efficient processes as well as a few numbers of partners. Optimal mobile payment systems do not have hidden costs like defaults or risk assumptions. Experiences of valuephone show, that many retailers prefer white-label approaches of mobile payment. Existing mobile marketing or loyalty programs can be enlarged through adding the features mobiles couponing and mobile payment. Due to the white label concept, the mobiles services can be integrated in installed brands or in existing customer groups with own registrations.
valuephone is technology provider for mobile payment installments in about 4,500 supermarkets in Germany.
valuephone is the leading provider for Mobile Payment, Mobile Couponing and Mobile Loyalty. Basis is the valuephone '360 Degree Mobile Loyalty' platform solution. The valuephone GmbH, with headquarter in Berlin, Germany, has been founded in 2006 and has further locations in Schöneck (Germany, Saxony) and Pilzen (Czech Republic). About 50 IT experts develop innovative and standardized software solutions. The company is a pioneer concerning Mobile Loyalty Management and Mobile Payment in Germany. http://web.valuephone.com/