Mobile commerce might be a bit of a chicken and an egg situation. One of the biggest hurdles to making mobile payments mainstream might not actually be the customers, but rather the vendors.
It's one thing when you can get several major nationwide businesses such as Gap, Inc. and Jamba Juice on board with Google Wallet.
But updating hardware and payments systems is not easy on the budget of the small business owner -- especially if you can't convince him or her that customers will actually use their smartphones enough to warrant paying for the upgrade. Furthermore, it's inevitable that many small business owners are going to be wary over how secure the systems are too.
Yet then it becomes debatable if customers will warm up to mobile payments to justify all of this if the infrastructure isn't available in the first place.
MasterCard is trying to reach out to the vendor first by compiling what the credit card giant has deemed as mobile payments best practices. Some of the topics covered include dealing with personal account numbers, receipts, and understanding chips versus magnetic swipes.
Using its worldwide name brand and payments network as reassurances along with touting the ease of use, MasterCard is hoping to draw more small business owners into its new mobile point-of-sale program. Thus, maybe if MasterCard can get more vendors using its mobile platform, that means more consumers might be using it -- leading to more convenience fee revenue in its pockets.
A complete report of MasterCard's mobile point-of-sale best practices is available online now.
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