Mobile Payments Market to Almost Triple In Value By 2015

Mobile Payments Market to Almost Triple in Value by 2015 Reaching $670bn, According to New Juniper Report HAMPSHIRE, UNITED KINGDOM–(Marketwire – Jul 5, 2011)

A new study from Juniper Research has determined that the total value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670bn by 2015, up from $240bn this year. These forecasts represent the gross merchandise value of all purchases or the value of money being transferred.

The new Mobile Payments Strategies report revealed that all segments will exhibit 2x to 3x growth over the next five years. This growth will be driven by the rapid adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers as people in both developed and developing countries use their devices for everyday transactions. Some 20 countries are expected to launch NFC services in the next 18 months, resulting in transactions approaching $50 billion worldwide by 2014.

Meanwhile the need for financial access in developing countries is such that active mobile money users will double by 2013 and drive transaction values accordingly. Senior analyst David Snow explained: “Our analysis shows that emerging segments such as physical goods payments, NFC and money transfers will fuel market growth by a factor of 2.7 times by 2015. Digital goods is the largest segment and, although forecast to more than double, it is not growing as quickly as some of the newer segments.”

Other key messages from the report include: The top 3 regions for mobile payments (Far East & China, W. Europe and N. America) will represent 75% of the global mobile payment gross transaction value by 2015. Digital goods payments will account for nearly 40% of the market in 2015. The study provides the big picture of mobile payments, providing forecasts of the main market segments of digital and physical goods purchases, contactless NFC and domestic and international money transfers and remittances, providing regional forecasts of gross transaction values. A new Mobile Money Whitepaper and further details of the study, ‘Mobile Payment Strategies: Opportunities & Markets 2011-2015′ can be freely downloaded from www.juniperresearch.com.

Alternatively, please contact John Levett at john.levett@juniperresearch.com, telephone +44(0)1256 830001. Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.

Rick Berry is President/CEO of ABC Mobile Pay, a merchant services provider and a registered ISO/MSP of Wells Fargo, N.A. Over the last decade Rick has earned the title of ‘Expert’ in the payments space and the mobile technology arena while developing customized products and services for the mobile payments sector.

ABC Mobile Pay brings a robust mobile POS payment solution to retailers and wholesalers of all types and sizes across America like the one in use at retail Apple stores and Nordstroms.

www.abcmobilepay.com – 877-258-5223 rick@abcmobilepay.com
http://www.abcmobilepay.com/demos.html

Just like in a James Bond Film

In late 2008, electronic payment service RBS World Pay revealed that a gang of hackers had broken into its computer systems, stolen information to help them create cloned debit cards, boosted their withdrawal limits and stolen huge amounts of money from ATMs around the world.

Mules operated by the gang stole a total of $9 million from more than 2,100 ATMs in at least 280 cities worldwide. All it took them was a jaw-dropping 12 hours to pull off their coordinated heist.

Some were wearing disguises with wigs and facial hair altering their appearance. They dressed nicely while others dressed shabbily, creeping around trying to go unnoticed. Mostly they were brazen, boldly executing the crime as if nothing happening were out of the ordinary.

A key member of the cybercriminal gang arrested for the crime wasn’t your typical low-profile underworld gangster. Amongst other things, he purchased a luxury car and two apartments in the Russian city of Novosibirsk before being caught in 2009.

At the time of the robbery, acting United States Attorney, Sally Quillian Yates, said that it was "perhaps the most sophisticated and organized computer fraud attack ever perpetrated."

The criminal gang is alleged to have created counterfeit cloned debit cards with the stolen information, but they didn't stop there. 

They are supposed to have cracked the encryption security used to protect RBS World Pay PIN numbers, and raised the level of funds available on compromised accounts. 

Some accounts reportedly had their daily withdrawal limits boosted to up to $500,000.

This is said to have allowed low-level members of the gang to steal over $9 million from more than 2,100 ATMs in at least 280 cities worldwide, in less than 12 hours.

The sheer audacity of this criminal plot is mind-boggling. The crime ring stole an extraordinary amount of money over a short time in a well-organized heist that involved split-second timing.

The criminal scheme was executed by means of electronic subterfuge via computers; even then the number of criminals it took to successfully pull off the brazen heist must have been numerous. 

2100 ATMs divided by 280 cities around the world equals 7.5 ATMs per city on average. In order to withdraw $9,000,000.00 in under 12 hours from 2100 ATMs around the world, that would entail hitting an average of almost 3 ATMs every minute during those 12 hours.

At 3 ATMs a minute it would take one crook per each ATM in order to execute the transactions successfully, which would be 3 bad guys multiplied by 280 cities, totaling 840 thieving conspirators.

Perhaps we’ll be hearing about the latest exploits of James Bond after all, as he saves the world economy from dastardly villains committing a dramatic modern day true-life caper.

Rick Berry – http://www.abcmobilepay.com - 877-258-5223 - rick@abcmobilepay.com

Marching To The Mobile Drumbeat

Mobile Revolution Commanding Attention

The number of smartphones has been doubling every year, and by the end of this year will exceed 125 million in the U.S. alone, about half of all mobile phones on the market in this country. In addition, Apple’s iPads have approached almost 20 million units sold to date. And they seem to have altered the way we perceive and interact with mobile commerce.

Consumers have quickly made the transition and are learning to love mobile commerce apps and web sites. This year, they'll buy over $6 billion worth of goods and services on web-enabled phones and tablets, doubling last year's number, and next year that number is expected to double again.

Online merchants are already cleaning up on this second e-commerce revolution. About 25% of the largest e-retailers already have a mobile site or app, most of those launched in just the last year or two. Another 25% are preparing to implement mobile commerce soon. But fully half are not ready to make the move, and virtually all second-tier e-retailers have no mobile program what so ever.

They all need one—and fast. Estimates are that 15% to 20% of all visitors to e-commerce web sites NOT equipped for mobile are coming from consumers shopping from smart phones and tablets. If you don’t have a mobile initiative in place you had better adopt one fast or you risk losing business to your competition, perhaps forever.

Once they see your site isn't optimized for mobile phones, they just leave and they may never come back. To avoid this crippling blow to your e-retailing business, you simply must make your move toward mobile commerce.

Brick & mortar retailers that have initiated mobile POS payment abilities in their retail operations, such as Apple and Nordstrom, have started a wave of momentum that has IT departments across the nation rushing to develop mobile payment initiatives.

Mobile in retail has received a spectacular reception because it produces a much more pleasing customer experience for one reason. It enables a purchase to be made anywhere on site while capitalizing on the impulse buying decision.

For instance, a customer in a dressing room with a number of different items or sizes now instantaneously checks out right when the impulse develops. No gathering up of packages and trudging over to a waiting line of bustling customers at the point-of-sale, where by the time the clerk gets to them, an impulse decision may evaporate and a sale can be lost.

The customer now simply hands the attending sales clerk the desired item(s), the clerk scans the product barcode with a mobile infrared scanning and payment card-swiping device (which encases an iPod), then swipes the payment card, hands the device to the customer, the signature is captured (and photo if desired) on the device and is automatically embedded on the printed and/or emailed receipt.

Whether you’re a ‘brick & mortar’ merchant or an e-commerce online merchant, retail or wholesale, if you’re trying to sell in today’s marketplace you’d better have a mobile payment application or system in place or you risk missing sales and perhaps more.

The mobile revolution is marching to the insistent drumbeat of progress and convenience is it’s heralding call. When consumers use technology and become accustomed to it they begin to anticipate and expect it.

If the mobile revolution has caught your attention but you aren’t quite sure how to implement it, or capitalize on it, then you may want to Google ‘mobile POS payments news’. Find out how to take advantage of and utilize mobile before it marches right on by and you miss out completely on the mobile revolution.

Copyright 2008-2011 – Rick Berry - ABC Mobile Pay – http://www.abcmobilepay.com - rick@abcmobilepay.com - 877-258-5223

Mobile Competition Heating Up!

Mobile’s Retail Status Report

Earlier this year the mobile payments business shifted into a higher gear with the formation of Isis and the immediate success of the Starbucks mobile payment system, which proves that a “single brand” approach can work spectacularly.

Nordstrom also rolled out their version of Apple’s highly successful in-store mobile POS payment system. It has received a spectacular reception as it produces a much more pleasing customer experience by enabling a purchase to be made anywhere on site.

For instance, a customer in a dressing room with a number of different items, sizes and styles now instantaneously checks out. No gathering up of packages and bustling over to a waiting line of customers at the point-of-sale, and by the time the clerk get’s to them, an impulse decision may evaporate and a sale can be lost.

The customer now simply hands the attending sales clerk the desired item(s), the clerk scans the product barcode with a mobile infrared scanning and payment card-swiping device (an iPod is encased in the device), and then swipes the payment card, hands the device to the customer, captures the signature (and photo if desired) on the device and automatically embeds it on the printed and/or emailed receipt.

In the spring the mobile wallet segment heated up with the launch of Google Wallet, aimed at local advertising, with a strategy shift by Isis towards a platform approach. All year, the payments space also got a boost from Square’s stunning success. 



We should take a hard look at wallet business models and transaction models, with additional attention paid to retailer strategies that have become more public, as well as a deeper look at the retail terminal perspective, now that some leaders now will strive to achieve a critical mass of users with NFC being the trail blazer. 



Many providers are already looking at payment systems focused on the restaurant and other vertical segments. By capitalizing on technology and devices such as Apple’s iPad, we’re seeing popular new services such as ‘pay-at-the-table’ in the restaurant space, which mollifies the concerns of those aware of how easily and quickly cardholder information is skimmed.

Instead of anxious waiting customers, patrons are comforted that their card doesn’t leave their possession, thereby eliminating the chances of fraudulent skimming of cardholder information. And they are impressed with the merchant who is providing cutting edge and differentiating service. An iPad also displays the restaurant’s menu with rich colorful graphics or video.

Additionally, some systems originally focused on online transactions now are shifting towards “real world” applications as well. Watch out for PayPal, Google and Apple, each of whom has designs on the mobile payments retail space.

There are subject matter experts in some parts of the ecosystem, which are developing pockets of value in different market niches. 

We anticipate success by those that bring value with features and content to specific niches, such as retailer programs
 similar to Apple and Nordstrom.

Another niche is the medical space where an ISO such as ABC Mobile Pay is developing a ‘Patient Responsibility Calculator’ that captures payment at the point-of-service after determining the patient’s insurance carrier eligibility. Depending on the procedure provided it then calculates an accurate estimate of the patient’s final financial responsibility and enables the payment to be captured immediately or recurring payments can be set up.

Mobile wallet services and platforms
, mobile payment approaches
, terminal and device choices
, payment ecosystems
, business and revenue models

 are all competing to become an integral part of what will soon prove to be an important and ubiquitous activity in our everyday lives, mobile transactions.

For more information contact Rick Berry - rick@abcmobilepay.com - 877-258-5223 – www.abcmobilepay.com

Relationships are Key to Sales Success

Real Life Advice Worth A Bit More Than 2 cents!

I recently exchanged emails with our video producer and by default, our website developer. 

Because he was personally updating and changing his own website, when I asked him if he could handle building us a website, he said, "Sure I'll buy 'DreamWeaver' and learn how". Which he proceeded to do and we're thrilled with the results. 

I've gotten to know Sean McCulley, of Mudturtle Productions, as our business relationship has developed and I like him. He's become a friend and I value his opinion. 

That is why I've included his response back to me in answer to my query, "What do you think?" regarding a $4875.00 'starter' campaign for an online advertisement in a national Newsletter that 'Guaranteed' results, see below...

MINIMUM QUANTITY - BLOCK OF 50,000 -   COST $3,750

AVERAGE RESPONSE RATE FOR LIST RENTAL: .8% TO 1.5% (GUARANTEED!)

  ( FOR A BLOCK OF 50,000  - 400 TO 750 CLICKS ) 

In my opinion, ABC Mobile Pay, because it is a B2B business, really benefits from personal, B2B interaction.  

IMHO (In My Humble Opinion), I don't think advertising works that well with B2B. I have no proof of that, I just look at advertising and the majority seems geared toward consumers.

Obviously some forms of traditional advertising can work for B2B: DuPont has been sponsoring Jeff Gordon's NASCAR #24 for almost 20 years, yet deals mostly B2B.  But that's a multi-million dollar venture.

You know sales and your business but, for me personally I reject cold calls on phone, my e-mails, my doorstep, etc.  I feel sorry for the guy on the other end of the line because he's a working stiff like me, but I've been screwed too many times by sales people and research on any product or service is incredibly easy nowadays.

I hear a strong sales pitch come on, I've immediately lost interest.  Why? This person only wants to talk to me to get something from me.  Not because they have an interest in me. I've walked out of car deals and bought from competitors because the salesman is still using 20-50 year old tactics and thinks I'm an idiot.

When my ex-wife and I had our own business, we got hit from all sides with salesman.  So whom did I go with? People recommended by people I trusted, not the unknown salesman.

I only have an opinion since I am not formally trained in business nor marketing, but then lots of "trained" and "educated" people fail in colossal fashion on almost a daily basis according to what I read in WSJ, Forbes and Smart Money.

I don't know how to answer when you send these kinds of links. Is the company viable? Can it prove the results? Can you meet them in person? Most importantly: Do you know anyone personally that has had success with this advertiser? Anyone can create a site and a persona these days, so skepticism is my usual default stance.

You guys know relationships are the key, so I'm not saying anything new.

Sean McCulley

805-402-7626

www.mudturtleproductions.com

ABC Mobile Pay-877-258-5223-rick@abcmobilepay.com-www.abcmobilepay.com

Apple Store Mobile POS Payment Technology Gaining Momentum

Businesses Large and Small Clamoring for New Technology

The advent of mobile technology and the iPad in particular along with other tablets, have ushered in an era of innovative solutions in the retail space that is revolutionizing how people shop, buy, sell and even communicate.

Innovative mobile solution developers such as ABC Mobile Pay are helping to blaze the trail by providing a robust mobile POS payment solution that enables merchants of any size from large national chain stores to small ‘mom-and-pop’ stores to capture payments on iPads, iPods, iPhones, Windows devices (Android devices by summer’s end) and almost any other mobile device.

What is exciting to both large Level 1 national merchants, with yearly transaction volumes of over the 20 million mark, and to small ‘mom-and-pop’ stores that process under a million transactions a year, is that they can utilize this technology to increase sales and profits by employing POS features traditionally found only in large national chain stores, the cost of such systems being so high that most smaller merchants can’t even consider their use.

Although large national merchants such as Apple, have already begun using the technology in their national retail stores, others like Sketchers are rumored to be rolling out an in-store mobile POS payment solution by the end of the year. Yet others such as Best Buy are stirring up the rumor pot even more, by shopping for payment devices that are only used in the mobile market, according to a source in the payments industry that shall remain anonymous, per their request.

The technology brings merchants POS features such as inventory control and product barcode scanning, customer-relationship-management (CRM) software, email and text message marketing, and signature & photo capture embedded on receipts. It also delivers audio and video entertainment and promotional messaging through the POS and streams to anywhere on site.

Perhaps most exciting to Level 1 and Level 4 merchants alike is the fact that the solution will work flawlessly with any legacy software system and it will seamlessly connect to any backend bookkeeping or accounting system such as QuickBooks, Sage, SAP, Oracle, Peachtree and many more.

The solution is customizable for niches such as the restaurant space for pay-at-the-table, where the menu can also be displayed on a mobile device such as an iPad.  When the bill comes, the device can be handed over to the patron, who then swipes the card, signs right on the device and emails or prints them a receipt. All of it is done very safe, easy and as fast as a handshake.

ABC Mobile Pay-877-258-5223-rick@abcmobilepay.com-www.abcmobilepay.com

Mobile POS Payments Saves The Day!, Just Like In Apple Stores!

Mobile POS Payment Solution Saves The Day!

Let’s say you’re exceptionally busy, perhaps it’s a Friday with a holiday weekend quickly approaching and you’re the business owner of a boutique-clothing store. Your store is extremely popular and you’re selling the latest and hottest brand of ‘hard to get’ denim jeans and suddenly an employee (usually your best one!) calls in sick with a terrible flu. You’re already down one or two people because of the same influenza outbreak.

This comes on the day you’ve just begun you’re biggest promotion of the year and you’ve got multiple customers milling about and a long impatient line forming at the cash register or point-of-sale. What should be a smashing success could potentially end up as a disaster without the proper handling of paying customers! By making sure that their payments are processed quickly they will leave with a smile on their face!

I recently read about an Old Navy store in Manhattan where a customer made a routine purchase and the transaction was processed on a mobile device. The focus of the article was the emailed receipt and how it was relegating the paper receipt to the rubbish pile along with road maps, newspapers and music CDs.

Although this is new and unique, major retailers such as Whole Foods, Nordstrom, Gap Inc. (which owns Old Navy and Banana Republic), Anthropologie, Patagonia, Sears and Kmart have all begun offering electronic versions of receipts, either emailed or uploaded to websites.

There has been a mad scramble on mobile technology by major retailers going on since 2005, when Apple introduced a mobile POS payment system in each of their 200+ retail stores across the country. The system enables each of the blue-shirted Apple employees to act as a walking point-of-sale; there are no lines at a cash register in Apple stores.

Each clerk carries an iPod, encased with an infrared barcode scanning and payment card-swiping device that scans and identifies the product, accepts the payment card-swipe, then captures a signature on the device and enables the receipt to be emailed, texted or printed in real time.

It is widely known by IT professionals that a mobile POS payment system will increase sales by speeding up check outs and performing ‘line-busting’ at impatient customer check out lines. What might not be such commonplace knowledge is that the time and resources of mainstream retailers may not be needed to replicate Apple’s success.

Time consuming investigations and studies might no longer be necessary to ascertain how to implement the strategy. ABC Mobile Pay has developed an ‘out of the box’ robust mobile POS payment solution that can be customized for added value.

Nordstrom introduced mobile payment acceptance devices in many of their stores this year so roving sales clerks could check out customers on the spot. Nordstrom has seen the opportunity to create a better experience for the customer wherever they are in the store. Say a customer is in a dressing room and they try on a bunch of clothing and they say, ‘I want to buy this and that.’

Instead of having to gather everything up from the dressing room, wrap all of it up at the wrap desk and trudge over to a cash register and stand in line behind other waiting customers, they quickly check out on mobile devices wherever they are on site.

Armed with information obtained from the CRM database such as email addresses and birthdates, special promotional offers can increase revenue significantly by enabling focused marketing efforts, from birthday percentage discount offers to coupons on favorite or best selling items.

The web based administrative system means that all sales traffic from any location can be monitored in real time. The system has features such as inventory control and product look up and availability which saves sales clerks precious time ensuring the customer experience is exemplary.

---

Rick Berry is Owner/President of ABC Mobile Pay, a registered ISO/MSP. ABC Mobile Pay provides merchant accounts to businesses of all kinds and sizes.
ABC Mobile Pay-877-258-5223-rick@abcmobilepay.com-www.abcmobilepay.com