The hype is that we soon will pay for goods in retail just swiping our mobiles over the payment terminal. I believe it will take another 3-5 years before we will see real customer adoption for this. Main reason is that merchants today can’t see/justify the investment needed and the lack of a mobile payment standard.
But there is a short cut, getting merchants to invest and getting users to swipe. A loyalty mobile app combined with swiping for points and use mobile coupons at a purchase. I believe it can give the same effect as with when the Internet bank moved into the mobile. Instead of “visit” your bank once a month when paying the bills, the rate is now every week using the mobile, that’s a 5 time raise in customer meet/contact. Think if the same can be reached in the relation merchant and customer..
The mobile app should of course show points balance, transaction history, receipts etc. When swiping new points are added and of course you swipe to get in-store offers and to use your mobile coupons. Who doesn’t like nice offers..and I think you will see many just going into a shop and swipe to see today’s deals.
So, when users are swiping to get their loyalty points, coupons and gift cards, the step to swipe to pay will be easy.