Bill Ready, CEO of online payment services provider Braintree, published a good post on Techcrunch over the weekend. He takes a look at the characteristics and concerns that will make, or break, the expansion of mobile payments possible. He nails it here:
If consumers spend more time browsing the web on their mobile devices than traditional devices, they’ll ultimately end up shopping and purchasing more on those mobile devices as well. The mobile buying experience just needs to catch-up to where users are already. The opportunity now exists in making the mobile shopping experience as easy as possible for the consumer. This would increase sales and decrease the number of times a consumer gets frustrated with purchasing experiences that haven’t been optimized for mobile and likely abandons the purchase.
Ready goes on to discuss the importance of low friction payments, especially the one-click model. As Amazon has proven, a single click sale drives purchase volume. Braintree itself has built tools, including mobile software libraries, to support mobile transactions and one-click purchasing.
Braintree has focused its development energies on the needs of the developer community. Developers have become the decision makers at e-commerce retailers when it comes to choosing payment processing partners because they can demonstrate that the provider who saves them time in both deployment and maintenance provides the better ROI. Developer time is at a premium and it’s much better for the e-tailer to have that talent working on making improvements that accelerate selling. The mobile channel is all about accelerating selling and it’s complex and in the early stage of evolution. By giving developers payment handling tools, there’s more opportunity for innovation in general and payment volume for Braintree.
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