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November 5, 2014 — by WEBOOSTSHARE ARTICLE
With Apple Pay and countless other options set to make purchasing consumer goods easier we are taking a look at just how much they will be used. Mashable, via Business News Daily, breaks down consumers use of mobile pay in the following article:
Although it may seem like consumers use their smartphones and tablets for everything these days, there’s one thing many of them won’t do on the go: make payments.
In fact, 48% of consumers surveyed said they have not used their mobile phones to make a purchase, according to a new study from digital commerce solutions provider Avangate. But why do so many consumers avoid making mobile payments and purchases? 40% of the consumers surveyed said they don’t want to store critical or sensitive information on their phones.
And even the consumers who do make mobile purchases don’t always feel safe doing so. 22% said they don’t feel secure when making mobile payments but do it anyway.
But despite their worries about mobile payments, most consumers actually prefer to go paperless. 90% of those surveyed said they no longer prefer paying bills by paper check.
So how can businesses make consumers more comfortable with online payments? The key is in long-term subscriptions.
60% of consumers said they have set up at least one to two recurring online payments, and 71% said they want recurring subscriptions without monthly reminders.
In addition, offering subscriptions with special features can seal the deal.
46% of buyers said they refuse to purchase online subscriptions without a “freemium” option (where the main product or service itself is free, but customers can pay for additional functionality or features), and 25% said they’re more willing to purchase an online service subscription when add-on features are available.
“Today, we are seeing the digitization of products into services — what we are calling the ‘New Services Economy’ — to truly monetize their offerings is no longer about point payment transactions with the customer, but rather being able to interact, service and expand the relationship with the customer from the discovery, trial and add-on and retention phases, all of which are potential opportunities to make purchasing decisions,” he added.SHARE ARTICLE