Franchise Update Magazine Issue II, 2017 - Page 76

International

Global Mobile Worldwide trends in mobile payment

There are 4.8 billion unique mobile

subscribers today , a 65 percent penetration 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 .
GROWING YOUR SYSTEM
BY WILLIAM EDWARDS
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 , payments are generally by cash as cards are not widely available . In a world of 7 billion 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 mobile 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 putting 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 handsets reached 148 million globally in 2015 , according to Juniper Research . Samsung and Apple will account for approximately 70 per cent of new customers .
According to Franchise Payments Network , wireless payment processing is great for 1 ) any business or franchise that offers delivery ; 2 ) service or mobile businesses ; 3 ) all businesses that accept credit cards ; and / or 4 ) anyone who wants to save on interchange rates by taking cards in person instead of over the phone or Internet . Mobile payment also enables stores to ring up customers right on the sales floor with no checkout counter or lines . Apple Stores , for example , have roaming associates who ring up the sale quickly on the spot with a credit card or Apple Pay from a handheld device .
Developing countries In sub-Saharan Africa , more than 60 percent of individuals now have access to a mobile phone .
Kenya leads the world in mobile money , with more active accounts than adults in its population . The total value of transactions
74 Franchiseupdate ISSUE II , 2017
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$4.2 trillion and 4.9 percent. In developed countries we have several ways to pay for a franchise’s products or services: credit and debit cards, mobile pay apps like Apple Pay, and we can always use cash. In many developing countries, pay- ments are generally by cash as cards are not widely available. In a world of 7 bil- lion people and 5 billion mobile phones, just 2 billion people have a bank account. The concept of mobile phone payments is becoming a reality in many developing countries, which is leading to higher sales at franchise businesses that typically arrange for a mobile app or other mobile-related payment type. From Apple Pay to proprietary apps, thousands of franchisees in the U.S. are moving into the mobile payments space, says John Gordon of San Diego-based Pacific Management Consulting Group. Of Taco Bell’s approximately 6,000 U.S. locations, more than 5,700 now offer mo- bile pay options. Smoothie King recently implemented an iPad-based POS system in all 750-plus of its locations. Also in the U.S., Popeyes Louisiana Kitchen is put- ting mobile pay options on its counters. Mobile payment growth Mobile device ownership across the world far exceeds that of any other device or platform and is increasing rapidly. With the rapid adoption of smartphones over the past decade, improvement in telecom connectivity, and declining handset prices, mobile has become the primary device around which our daily lives revolve and is shaping how consumers search, purchase, and pay for goods and services. As commerce is moving to mobile, so are payments. The number of contactless mobile payments made with mobile hand- sets reached 148 million globally in 2015, accordi Ѽ)չȁI͕ɍMչ)ݥչЁȁɽ᥵ѕ(ȁЁ܁ѽ̸)ɑѼɅ͔A嵕́9д)ݽɬݥɕ́嵕Ёɽͥ́ɕ)ȀĤ䁉ͥ́ȁɅ͔ѡЁ)ٕȤ͕٥ȁ͕ͥ(̤͕ͥ́ѡЁЁɕЁɑ)ȀФ役ݡ݅́Ѽٔͅ)ѕɍɅѕ́хɑ́ȴ)ͽѕٕȁѡȁ%ѕɹи)5嵕Ёͼ́ѽɕ́Ѽ)ɥѽ́ɥЁѡ́ͅ)ݥѠЁչѕȁȁ̸)Mѽɕ̰ȁᅵٔɽͽ)ѕ́ݡɥѡͅե䁽ѡ)ЁݥѠɕЁɐȁA䁙ɽ)٥)ٕչɥ)%ՈMɅɥɔѡȴ)Ё٥Յ́܁ٔ́Ѽ))-儁́ѡݽɱ)ݥѠɔѥٔչ́ѡձ́)ձѥQѽхمՔɅͅѥ($)Ʌ͕є%MLT%$ȀĀ