Customers Dissatisfied with Proposed Means of Payments
- Barclays Corporate has recently released a report dealing with the amount of mobile expenses in the UK: findings indicate that these expenses should increase 55% by 2016 and reach 19.3 billion pounds in 2021 (compared to 1.3 billion today).
- Another study ordered by WorldPay reveals frustration on the part of the customers with regard to the proposed payment processes and options in the m-commerce context:
- 39% complain about the amount of time required to make a transaction,
- 38% complain about the amount of information they need to enter,
- 31% point out the insufficient development effort and inadequacy of the mobile website,
- 17% would wish to have access to other payment methods,
- 9% point out the insufficient number of mobile apps.
- According to the same survey, m-wallets are especially popular due to their convenience (63% favourable opinion): they outrun card payments (37%) and payments through the mobile operator’s bill (14%).
- This study mostly highlights the inadequacy of currently proposed means of payments to the mobile medium and derived frustration of the users.
- Despite the development of the m-payment, an obvious discrepancy between customers’ expectations and the suggested means of payments is to be noted. Yet, m-wallets are described as popular and their growth potential is being emphasised. These indications may comfort the strategic choices made by different players: official launch of Google Wallet in September 2011, new Empty Hands PayPal app, etc.
- In this context, the future of the ubiquitous all-in-one mobile devices could rely on the aggregation of several means of payments and identification solutions in the ever-accessible mobile wallets.