Caffè Vanilla Frappuccino, Espresso Con Pana and… Smartphone. Seems like an odd mix, doesn’t it? But thanks to a new mobile payment system implemented by global coffee powerhouse Starbucks, you can now order all the indulging delicacies you want, sit in the cozy corner of your choice, whip out your smartphone and pay for whatever’s on your table. No counter, no queue, no hassle.
Square Mobile Commerce Technology: An Emerging Leader
Beginning this fall, Starbucks will swap out their existing POS terminals in favor of Square, which enables businesses to accept credit and debit purchases by swiping cards through the mobile commerce startup’s innovative card reader, a small dongle that plugs into a smartphone or tablet audio jack. The move will allow Starbucks to slash operational costs across the coffeehouse’s 7,000 company-owned U.S. locations. It’s a lot similar to what Walmart is trying to achieve with the iPhone’s retail checkout app.
Unlike other payment options, Square charges a flat fee of 2.75 percent on all transactions and promises users no contracts, monthly fees or hidden costs. As of mid of this year, more than 2 million businesses and individuals are using the Square service, with users processing close to a whopping $6 billion in payments on an annualized basis.
Mobile Commerce Becoming Next Big Thing
At MIT’s “What Technology Will Dominate Retail?” conference this year, hotshots from all sectors, focused on driving growth and trends across the globe, concluded that mobile commerce is the next decisive factor in a company’s competitiveness. EBay, alone, did a staggering $5 billion in mobile commerce last year, with vibes of doubling that amount this year. A recent Deloitte report, for example, found that a visit to a retailer’s mobile website during a shopping trip increased the chances of making a purchase from 66% to 74%.
And the growth-and-action factor is not restricted to top tier only. As a matter of fact, it’s the startups that provide the real incentive for this revolution. Take MoBeam for example. The company enables mobile devices such as smartphones and tablets to beam content directly from those devices into existing red laser POS devices, using light to transmit a barcode directly into the scanner, simplifying the process of checkout. With such technology at the helm, life seriously could become a lot easier, using our gadgets anywhere in the world.