Technology those taking advantage of it is advancing at super-speed. In fact, a recent study conducted by Telecoms Market Research shows that in 2009, mobile payment transactions hit $68.7 billion worldwide. And, those numbers are expected to skyrocket astronomically in the next few years.
Savvy business owners see the writing on the wall and want in on the potential growth to their companies. Although, not too many of those businesses realize just how this technology will influence the channel.
With today’s attention span and time availability both taking nose-dives, partners who take advantage of mobile payment services have enhanced marketing techniques at their finger tips, 24/7. This capability will help boost channel sales through easier and quicker partner payments and service ability.
These tools will also allow for imaginative and innovative business-to-business marketing strategies.
According to John Jantsch, writing for Duct Tape Marketing, “On a mobile device loaded with a database, GPS and compass well, you’ve got the makings of a location-aware loyalty program with the ability to offer loyalty specials and club and membership perks through an electronic wallet kind of approach.”
Jantsch goes on to explain that while the mobile device allows for “no credit card reader, no paper slips, instant transfer, and more secure than written forms,” the customer will need the same technology for it to all work.
Channel partners already realize the benefits mobile payment services possess. These devices have the capability to allow partners to motivate purchases through texting, follow-up, track, and even reward customers. As the market continues to move forward, partners must evaluate mobile payment devices and services available and find the best ones for their needs.