Aug. 11, 2020 by Bradley Cooper Mobilepayments Today
With COVID-19 currently causing the average consumer to balk at physical payments options such as cash and cards, the time is now for mobile payments to truly take the world by storm.
While mobile payments has already become ubiquitous in certain countries such as China, it has always struggled a bit in the U.S. This is due to a variety of reasons, including:
Older population struggle to learn how to use it.
Many people view it as a novelty.
It doesn't seem more convenient than other payments method.
Users don't see a reason to switch from their other payment methods.
However, the coronavirus has changed much of how people look at their payments' options. For example, in the U.S., there is an overall coin shortage because customers are balking at cash. Many are using cards instead, but there is still the issue of having an employee touch the card or having to press buttons or a touchscreen on a point-of-sale device.
For mobile payments vendors, COVID-19 is an ideal opportunity to push mass rollout of mobile payments. There are few moments like now where consumers are collectively open to the idea of new payments methods…especially contactless ones. And for retailers looking to get customers to switch to safer and more available payment methods, mobile payments can be just the ticket.
In order for mobile payments vendors, retailers and other businesses to truly take advantage of this moment, they need to revamp their messaging strategies.
For example, vendors should launch informational campaigns to give users simplified tutorials on how to use mobile payments platforms. It could be as simple as copy on a digital billboard that gives three steps to using mobile payments or a TV advertisement that describes contactless as a good measure to stay safe from COVID-19.
Other communication tactics include:
Showing how much safer contactless is to traditional payment methods.
Offering rewards to users for recommending new users.
Communicating its advantages to retailers.
Retailers can offer discounts for mobile payments users to drive up acceptance.
Now is the time for mass adoption of mobile payments…if vendors and retailers take advantage of this moment