Canadian Retailer - Fall 2016 - 28

M-COMMERCE

THE STATE
OF MOBILE
PAYMENTS
Experts weigh in on the current
mobile landscape and what it
might mean for retailers and
their customers going forward.
BY STUART FOXMAN
IF given a choice, would you rather lose your wallet
or your smartphone? Steve Buors, CEO of Torontobased ReShift Media, suggests that the answer says
everything you need to know about the power of mobile commerce. In several surveys, people report that
they would sooner return home to retrieve a phone
than a wallet, and would feel more devastated if their
phone went missing.
Buors, whose company specializes in digital marketing, says such responses shouldn't surprise. Not when
people view their phone as a remote control for life, or
when most smartphone owners sleep with their device
(on a night table, in bed or, for a smaller percentage, in
their hands). A U.S. study conducted by IDC Research
found that 35 per cent of respondents said their first
thought in the morning is about their phone; 10 per
cent said it's about their significant other.
Considering the data and personal information on
a smartphone, and its ubiquitous uses, it's no wonder
that so many people can't fathom living without it. In
some ways, phone vs. wallet isn't even really a choice;
the phone is becoming a wallet.
Broad usage of mobile payment options is just
a matter of time, Buors says. For retailers, revenue
booked on mobile is also poised to surpass revenue
from e-commerce. And mobile is becoming an increasingly valuable tool to engage consumers.
Are we nearing the moment of truth for m-commerce? "I would argue strongly that mobile is so important in the sales process that we've already passed
the tipping point," says Buors.
As e-commerce continues to grow in Canada, mobile commerce is unquestionably creating new opportunities for retailers. How do consumers view mobile payments? And how can mobile benefit retailers
of all sizes far beyond an additional payment mode?

28 |

CANADIAN RETAILER | FALL 2016



Table of Contents for the Digital Edition of Canadian Retailer - Fall 2016

Publisher’s Desk
Retail Currents
Retail Research
Independents’ Corner
Retail: At Issue
The Future of Retail
Technology for the Good
E-Commerce Next Practices
The State of Mobile Payments
Aldo Launches ‘Store of the Future’ at Westfield World Trade Center
The Hottest Summer in Half a Century
Once More Unto the Breach
Advertiser’s Index
Canadian Retailer - Fall 2016 - bellyband1
Canadian Retailer - Fall 2016 - bellyband2
Canadian Retailer - Fall 2016 - cover1
Canadian Retailer - Fall 2016 - cover2
Canadian Retailer - Fall 2016 - insert1
Canadian Retailer - Fall 2016 - insert2
Canadian Retailer - Fall 2016 - 3
Canadian Retailer - Fall 2016 - Publisher’s Desk
Canadian Retailer - Fall 2016 - 5
Canadian Retailer - Fall 2016 - Retail Currents
Canadian Retailer - Fall 2016 - 7
Canadian Retailer - Fall 2016 - insert3
Canadian Retailer - Fall 2016 - insert4
Canadian Retailer - Fall 2016 - Retail Research
Canadian Retailer - Fall 2016 - Independents’ Corner
Canadian Retailer - Fall 2016 - Retail: At Issue
Canadian Retailer - Fall 2016 - 11
Canadian Retailer - Fall 2016 - insert5
Canadian Retailer - Fall 2016 - insert6
Canadian Retailer - Fall 2016 - The Future of Retail
Canadian Retailer - Fall 2016 - 13
Canadian Retailer - Fall 2016 - 14
Canadian Retailer - Fall 2016 - 15
Canadian Retailer - Fall 2016 - 16
Canadian Retailer - Fall 2016 - 17
Canadian Retailer - Fall 2016 - 18
Canadian Retailer - Fall 2016 - 19
Canadian Retailer - Fall 2016 - Technology for the Good
Canadian Retailer - Fall 2016 - 21
Canadian Retailer - Fall 2016 - 22
Canadian Retailer - Fall 2016 - 23
Canadian Retailer - Fall 2016 - E-Commerce Next Practices
Canadian Retailer - Fall 2016 - 25
Canadian Retailer - Fall 2016 - 26
Canadian Retailer - Fall 2016 - 27
Canadian Retailer - Fall 2016 - The State of Mobile Payments
Canadian Retailer - Fall 2016 - 29
Canadian Retailer - Fall 2016 - 30
Canadian Retailer - Fall 2016 - 31
Canadian Retailer - Fall 2016 - Aldo Launches ‘Store of the Future’ at Westfield World Trade Center
Canadian Retailer - Fall 2016 - 33
Canadian Retailer - Fall 2016 - The Hottest Summer in Half a Century
Canadian Retailer - Fall 2016 - 35
Canadian Retailer - Fall 2016 - 36
Canadian Retailer - Fall 2016 - 37
Canadian Retailer - Fall 2016 - Once More Unto the Breach
Canadian Retailer - Fall 2016 - 39
Canadian Retailer - Fall 2016 - 40
Canadian Retailer - Fall 2016 - 41
Canadian Retailer - Fall 2016 - Advertiser’s Index
Canadian Retailer - Fall 2016 - cover3
Canadian Retailer - Fall 2016 - cover4
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