Tag: levelup mobile payments

The two companies are working together to use a simple QR code based program to pay for purchases.

LevelUp and Nokia have just announced a partnership together that could help to expand the use of mobile payments by consumers, regardless of whether or not they have NFC technology embedded in their devices, as this system is based on the use of QR codes.

This new partnership has had the two companies working together to introduce the service to various cities.

Consumers and businesses in certain American cities are being targeted by Nokia and LevelUp to help to encourage them to use mobile payments for some of the more routine transactions that are being made. The service works when a consumer signs up for the service and links a debit or credit card to the account. Then, when he or she makes a purchase at a participating merchant’s store (where the terminals are available) the app is loaded on the smartphone and a QR code is generated. This is scanned by the terminal and the associated card is billed.

This mobile payments system can also be used to allow consumers to collect loyalty rewards.

According to Matt Kiernan from LevelUp, the mobile payments service is very quick and easy to use. He stated that the average transaction through the service takes about 9 seconds to complete. Comparatively, the average traditional credit card transaction will usually take up to 15 seconds, while a cash transaction averages around 20 seconds.

The two companies in the partnership are hoping to point out that both consumers and businesses can benefit through the use of the service. This is especially true for the combination of the loyalty campaign option into the mobile payments so that the points or rewards can automatically be recorded into the appropriate account.

According to LevelUp, its processing fee has a flat rate of 2 percent, which is lower than the average fee for traditional credit card processing. It also stated that it allows companies to monitor the success of their mobile payments campaigns so that they can see the data related to their spending and activity of their customers. This can help companies to run future campaigns that are better designed to promote specific behaviors among their customers based on past successes.

Mobile payments are becoming more important for consumers

Mobile payments are becoming a very important part of global commerce. More consumers have smartphones now than ever before, and many of these consumers are looking for more efficient and convenient ways to purchase products. Mobile payments are becoming so important to consumers that new mobile commerce platforms spring up on a seemingly daily basis to help consumers purchase products and transfer money using their mobile devices. Some of these platforms have become so popular that they are beginning to clash with one another for dominance in the mobile commerce arena.

Companies hold high hopes for 2013

LevelUp, which recently celebrating reaching 1 million active users, is one such company. Seth Priesbatsch, founder of the mobile payments platform, believes that 2013 will be the year in which a dominant mobile commerce platform will be crowned. LevelUp is not the only company that shares this belief, of course, as Paydiant, another leading mobile commerce platform, also expects 2013 to be a major year for mobile payments. PayPal boasts of the largest share of active users in terms of mobile payments and expects to see more people participating in mobile commerce this year than ever before.

Loyalty programs and marketing may be where true opportunities lie

Though these companies share high hopes for mobile commerce, mobile payments may not actually be the most significant opportunity that exists in the evolving state of commerce. Loyalty and marketing are where the true opportunities lie, according to Paydient. Loyalty programs from major brands offer consumers access to benefits they can receive by, quite literally, showing loyalty to a specific brand. In some cases, these benefits could be steep discounts on favored products, or free products altogether.

Platform that can provide the best of everything mobile commerce has to offer may win with consumers

Though loyalty programs and marketing hold a great deal of promise, most companies are focused on the area of mobile payments. Developing efficient and effective mobile payment services may open up the door for loyalty programs and marketing campaigns to take hold among consumers. The evolving state of commerce suggests that the company that can offer the best of everything will come out on top in terms of consumer engagement.