Mobile payment technologies offer substantial advantages to channels
According to a study by Telecoms Market Research, worldwide mobile payment transactions reached $68.7 billion in 2009 and is expected to soar by 800 percent over the next four years. With such incredible market potential, many businesses and entrepreneurs are seeking to get their own foot in the door.
However, few businesses are considering how this emerging market will affect the technology channel. Mobile payment services will have the ability to drastically improve channel sales by improving partners' payment and service capabilities.
What's more, partners can even utilize mobile payment services and devices to implement creative business-to-business marketing techniques.
"On a mobile device loaded with a database, GPS and compass," writes John Jantsch for Duct Tape Marketing, "well, you’ve got the makings of a location-aware loyalty program with the ability to offer loyalty specials and club and membership perks through an electronic wallet kind of approach."
As the mobile payment market grows more and more competitive, channel partners will begin to sort out the best services from the worst. Until the market firmly establishes itself in the U.S., channel sales partners should conduct research to determine how such technologies can help them.