Franchise Update Magazine Issue II, 2017 - Page 76

GROWING YOUR SYSTEM International Global Mobile Worldwide trends in mobile payment BY WILLIAM EDWARDS T here are 4.8 billion unique mobile subscribers today, a 65 percent pen- etration of the world’s population; by 2020 these numbers are expected to grow to 5.7 billion and 73 percent, respectively. In 2016, the mobile industry was US$3.3 trillion, 4.4 percent of total world GDP; by 2020 those corresponding numbers are expected to be US$4.2 trillion and 4.9 percent. In developed countries we have several ways to pay for a franchise’s products or services: credit and debit cards, mobile pay apps like Apple Pay, and we can always use cash. In many developing countries, pay- ments are generally by cash as cards are not widely available. In a world of 7 bil- lion people and 5 billion mobile phones, just 2 billion people have a bank account. The concept of mobile phone payments is becoming a reality in many developing countries, which is leading to higher sales at franchise businesses that typically arrange for a mobile app or other mobile-related payment type. From Apple Pay to proprietary apps, thousands of franchisees in the U.S. are moving into the mobile payments space, says John Gordon of San Diego-based Pacific Management Consulting Group. Of Taco Bell’s approximately 6,000 U.S. locations, more than 5,700 now offer mo- bile pay options. Smoothie King recently implemented an iPad-based POS system in all 750-plus of its locations. Also in the U.S., Popeyes Louisiana Kitchen is put- ting mobile pay options on its counters. Mobile payment growth Mobile device ownership across the world far exceeds that of any other device or platform and is increasing rapidly. With the rapid adoption of smartphones over the past decade, improvement in telecom connectivity, and declining handset prices, mobile has become the primary device around which our daily lives revolve and is shaping how consumers search, purchase, and pay for goods and services. As commerce is moving to mobile, so are payments. The number of contactless mobile payments made with mobile hand- sets reached 148 million globally in 2015, accordi ΉœΡΌ)ΥΉ₯Α•ΘI•Ν•…ɍ ΈM…΅ΝΥΉœ)…ΉΑΑ±”έ₯±°…½ΥΉΠ™½Θ…ΑΑΙ½α₯΅…Ρ•±δ(άΐΑ•Θ•ΉΠ½˜Ή•άΥΝΡ½΅•ΙΜΈ)½Ι‘₯ΉœΡΌΙ…Ή‘₯Ν”A…ε΅•ΉΡ́9•Π΄)έ½Ι¬°έ₯Ι•±•Ν́Α…ε΅•ΉΠΑΙ½•ΝΝ₯Ήœ₯́Ι•…Π)™½Θ€Δ€…Ήδ‰ΥΝ₯Ή•Ν́½Θ™Ι…Ή‘₯Ν”Ρ‘…Ё½™™•ΙΜ)‘•±₯Ω•Ιδμ€Θ€Ν•ΙΩ₯”½Θ΅½‰₯±”‰ΥΝ₯Ή•ΝΝ•Μμ(Μ€…±°‰ΥΝ₯Ή•Ν͕́ё…Ё…•ΑЁΙ•‘₯Ё…Ι‘Μμ)…Ή½½Θ€Π€…Ήε½Ή”έ‘Όέ…ΉΡ́ѼΝ…Ω”½Έ)₯ΉΡ•Ι‘…Ή”Ι…ѕ́‰δΡ…­₯Ήœ…ɑ́₯ΈΑ•Θ΄)Ν½Έ₯ΉΝΡ•…½˜½Ω•ΘΡ‘”Α‘½Ή”½Θ%ΉΡ•ΙΉ•ΠΈ)5½‰₯±”Α…ε΅•ΉΠ…±ΝΌ•Ή…‰±•ΜΝѽɕ́Ѽ)Ι₯ΉœΥΐΥΝΡ½΅•ΊΙ₯‘Ё½ΈΡ‘”Ν…±•Μ™±½½Θ)έ₯Ρ ΉΌ‘•­½ΥЁ½ΥΉΡ•Θ½Θ±₯Ή•ΜΈΑΑ±”)MΡ½Ι•Μ°™½Θ•α…΅Α±”°‘…Ω”Ι½…΅₯Ήœ…ΝΝ½€΄)…ѕ́ݑΌΙ₯ΉœΥΐΡ‘”Ν…±”ΕΥ₯­±δ½ΈΡ‘”)ΝΑ½Πέ₯Ρ „Ι•‘₯Ё…ɐ½ΘΑΑ±”A…䁙ɽ΄)„‘…Ή‘‘•±‘•Ω₯”Έ)•Ω•±½Α₯Ήœ½ΥΉΡΙ₯•Μ)%ΈΝՈ΅M…‘…Ι…Έ™Ι₯„°΅½Ι”Ρ‘…Έ€ΨΐΑ•Θ΄)•ΉΠ½˜₯Ή‘₯Ω₯‘Υ…±ΜΉ½ά‘…Ω”…•Ν́Ѽ„)΅½‰₯±”Α‘½Ή”Έ)-•Ήε„±•…‘́ё”έ½Ι±₯Έ΅½‰₯±”΅½Ή•δ°)έ₯Ρ ΅½Ι”…Ρ₯Ω”…½ΥΉΡ́ё…Έ…‘Υ±Ρ́₯Έ₯ΡΜ)Α½ΑΥ±…Ρ₯½ΈΈQ‘”Ρ½Ρ…°Ω…±Υ”½˜ΡΙ…ΉΝ…Ρ₯½ΉΜ(άΠ$)Ι…Ή‘₯Ν•ΥΑ‘…Ρ”%MLT%$°€Θ€ΐ€Δ€