Mobile Payments Today this week added to the growing debate around mobile wallets and declared that for transactions to really take off, there has to be more tangible benefits for consumers. The speed and ease of mobile payments by themselves are not seen as enough to convince consumers to adjust their habits. At Ensygnia we also believe that value-added services running alongside simple friction-free payments will drive increased consumer adoption – as long as the other consumer barriers are addressed.
Michelle Evans, a senior consumer finance analyst at Euromoniter, told Mobile Payments that she believed mobile wallets were struggling to gain adoption because of consumer concerns about “security and privacy."
"Identity and security lie at the heart of what we do at Ensygnia"
Identity and security lie at the heart of what we do at Ensygnia. One of our goals is to put people’s security and privacy back in their control and indeed back in their pocket. Ensygnia’s solution allows users to store their identity and details on a bank-grade secure cloud server and transactions can then be made using a mobile phone to authorize a payment without the need for any details to be shared directly.
Looking at the opportunities for value-added services, Mobile Payments Today highlighted the integration and embedding of loyalty systems into mobile platforms. Moving loyalty schemes across to a mobile platform carries an immediate and obvious benefit to consumers. Firstly, it becomes impossible to miss out on a deal or forget a voucher as everything can be managed and stored on your phone – meaning that you get automatic credits and prompts as you make payments – and also don’t need to carry a plethora of loyalty cards in your wallet
"Ensygnia’s Onescan solution is designed to easily integrate with loyalty programmes"
Mobile loyalty platforms therefore have strong potential to be a powerful tool pushing forward mobile payment adoption and of course Ensygnia’s Onescan solution is designed to easily integrate with loyalty programmes.
Indeed, at Mobile World Congress in Barcelona last month, Brian Partridge, a VP at global analyst house, Yankee Group, said: “The real m-payments opportunity is around marketing and engagement."
We couldn’t agree more and believe that consumers’ mobile phones will become their preferred device for engaging with brands and retailers - for payments, for loyalty programmes, in-app notifications of offers or the redemption of rewards. With our focus on identity and security, we feel well positioned to deliver successful, engaging and personalised shopping experiences.
31st March 2014