"Data-Driven Thinking" is written by members of the media community and contains fresh ideas on the digital revolution in media.
Today’s column is written by Lauren Moores, vice president of analytics at Dstillery.
With holiday shopping following close on the heels of the fall release of the iPhone 6 with Apple Pay, I expect shopping behavior to shift further toward mobile because of reduced transaction costs.
Already mobile commerce (mcommerce) is expected to account for 19% of US ecommerce retail sales this year, according to eMarketer, totaling $57.79 billion overall. Now we’re all waiting to see whether integration of Apple Pay and other mobile payment options in brand mobile apps or mobile-optimized sites will create momentum, giving retailers that final piece of data that shows the value of mobile in the consumer path-to-purchase journey.
Using the mobile phone to pay for purchases is not new. Is this fingerprint-based NFC iOS-only solution just a shiny alternative to solutions already in play, such as M-Pesa (SMS-based payment), PayPal, Google Wallet or Softcard? How does it fit with existing consumer bank options, One Coin or Plastc? Did it just make the competing MCX CurrentC QR code approach obsolete before it is released?