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How to make the most of mobile customers

Around the world, mobile commerce is on the rise. The power and convenience on offer from smartphones have quickly made them the preferred purchase method for millions of people.

Frequent travellers, shoppers, gamers and consumers no longer just use their mobile phone to look for inspiration for their next trips, swag, tips or tunes. Growing confidence and a smoother experience on mobile has led many to follow through to actually book and buy as well.

With this growing opportunity comes a range of new challenges. The mobile payment journey is unique, unlike any other customer experience journey out there, and it’s growing all the time.

As you have seen throughout the year, we’ve conducted extensive research into the mobile shopping preferences of travel, airline, retail, gambling and digital content consumers in 10 countries around the world. Having surveyed 16,000 smartphone users, we’ve developed a series of reports to help you navigate these preferences – from an optimisation standpoint, and at a granular, market-based level. Now, we’ve brought the insights home, to walk you through how all of this information can actually help you to improve your mobile payment journey and what solutions might be available for you to do so.

"The onus is on providers to optimise the payment journey so the traveller can book easily on both mobile browsers and apps."

Thomas Helldorff, Vice President of Travel & Airlines Vertical Strategy

With mobile shopping only getting more prevalent, it’s essential to understand how local consumers are embracing the trend and what they’re looking for. In Australia, for example, mobile purchases have increased by 25% since 2016, with 53% preferring to pay in-app, rather than through a mobile browser. This highlights the strong emphasis placed on ease of use, with one-click payment being favoured, while also having to balance constantly-evolving security requirements.

When it comes to personal finance, security is the number one priority for the vast majority of users. Keeping funds safe on a device that goes everywhere with a user, and can be relatively easily stolen or misplaced, means steps must be taken to ensure the information within remains safe. In the UK, for example, 50% of UK betters would not place a bet if they had any security concerns about a mobile payment journey. Getting security right is crucial.

However, security alone is not enough. The main benefit of mobile devices is their accessibility and ease of use. Keeping the mobile payment journey as quick and painless as possible marks the difference between a business facilitating a successful mobile payment and a struggling one.

For example, keeping people within an app, rather than redirecting them to a website can make a significant difference. In fact, 59% of US retail customers would stop a purchase if they were forced to redirect.

“With far more choice for consumers, apps need to be clean, well designed and as seamless as possible to stand out. That’s why user journeys with one-click payments and advanced security are currently the industry’s biggest focus – because if your journey is too complex, or the user has the smallest doubt about the security of your app or mobile website, they can buy an alternative product from a competitor within seconds.”  - Maria Prados, Vice President for Global Retail & B2B at Worldpay

"With far more choice for consumers, apps need to be clean, well designed and as seamless as possible to stand out."

Maria Prados, Vice President for Global Retail & B2B at Worldpay

Including one-click payment with biometric security, built into the app, is one way to keep the journey quick, painless and encourage impulse decisions. This is also true for subscription services, such as those offered by digital content providers. Once a subscriber is on board, they don’t want to have to worry about their payment method again. If a business takes advantage of payment solutions that ensure card details are up to date, even if the original card expires and is replaced, they can keep customers on a more comfortable payment journey.

With new challenges, inevitably, comes fresh solutions. As phones develop and provide innovative, exciting must-have features, such as enhanced biometrics, the options available to support mobile payment using these features arrive as well.

"To keep users engaged in this competitive space, it’s crucial to keep your payment options as stealthy as possible. Not only will this keep customers using your app, it will improve your overall user experience." – Daniel Belda, Vice President of Digital Content and Gambling

"To keep users engaged in this competitive space, it’s crucial to keep your payment options as stealthy as possible. Not only will this keep customers using your app, it will improve your overall user experience"

Daniel Belda, Vice President of Digital Content and Gambling

Naturally, each business sector has a different set of customers, with unique wants and needs, so the approach they must take to new technology can vary to suit their customers. Which is why Worldpay has put together guides that introduce the challenges individual industries are facing, along with the solutions and opportunities that will help a business to excel in the growing mobile payment world.

These four guides focus on the travel, retail, digital content and gaming sectors, four industries that are set to see major changes thanks to the ever-changing mobile payment journey.

Ready to find out more? The guides are ready to download now. Simply click below on your guide of choice. If you have any further questions or would like help getting started, contact Worldpay.

Written by:   ,  5 Dec 2018