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Mobile Payment Myths
There are many myths abound in the mobile payments business, says Rick Gerber, Locaid CEO. Among those myths is the belief that people distrust, or are not inclined to use location services.
“Customers really don’t fear location services,” Gerber says. “They trust brands with their data,”
and will share data with those trusted brands.
For brands, the benefits include operating costs. “Card declines” are a problem because people are likely to stop using cards when “declines” happen. Location can help reduce the number of “card declined” problems, Gerber says.
Also, “false positives” are an issue for users. It costs the bank $25 to $40 to check on a single instance of a suspected fraudulent card use, while a location approach can accomplish the same function for about five cents an occurrance.
2012-10-29 01:22:09
Source: http://dailynewsreader.mobi/2012/10/28/mobile-payment-myths/
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