"Payments" Ecosystem is Complicated, and Getting More So

The thing about the "mobile payments" ecosystem is that it represents a "convergence" of formerly-separate industries and businesses. Mobile payments, mobile wallet, mobile location services, promotion, advertising, marketing, commerce and money transfers now are becoming parts of one larger business. Read more.

Consumer Savings Likely will Drive Developed Market Mobile Payments

From a demand-side stand point, emerging markets have a unique characteristic, the ubiquitous use of cash for most everyday transactions, say Alberto Jimenez, IBM mobile payment leader, and Prasanna Vanguri, IBM consultant. Cash has well-documented and understood weaknesses that allow mobile payments providers to offer a compelling value proposition to end-users.

In developed markets and high-income segments in emerging markets, the circumstances for both providers and end-users are completely different. Most end-users already have efficient payments instruments that are widely accepted and appear to present no pain points.

“For developed markets, we believe that the initial adoption drivers will fall into two categories, (1) Direct savings and (2) Improved experiences,” they say. “Furthermore, we believe that only in specific segments will Improved experiences act as a true adoption driver and that the majority of ecosystems will be initially driven by direct savings.”

There is currently a large, unfulfilled role within the developed markets mobile payments and commerce ecosystem: the role of an aggregator. An aggregator would provide a single place where multiple payment instruments can be accessed quickly, simply,
and effectively, and where discounts, deals, and awards appear contextually and automatically.  

Read the study results here.

Starbucks Mobile Payment App Gets 3 Million Users

Less than three months after Starbucks introduced a way for customers to pay for grande lattes using their mobile phones, the Starbucks Card Mobile app has been used by more than 3 million people, the company recently announced.

Starbucks Vice President Brady Brewer later called it 'the nation's largest mobile payment network,' according to a report from Mashable and USA Today. Starbucks rolled out the app on Jan. 19, 2011. It can be used in all of its 6,800 company-owned stores in the United States, plus another 1,000 locations inside Target retail centers.

Starbucks mobile payment app used by 3 million people in 3 months | MNN - Mother Nature Network:

How People Use LinkedIn

No surprises here. LinkedIn is the social network most used for business and professional purposes. Click the image twice to enlarge it.

LivingSocial Seeks $1 Billion IPO

LivingSocial, the social shopping business, is seeking to raise about $1 billion from an initial public offering, valuing the Web firm at between $10 billion and $15 billion, the Wall Street Journal reports.

The company has chosen three banks—Bank of America Merrill Lynch, Deutsche Bank AG and J.P. Morgan Chase & Co.—as the lead underwriters for the IPO.

LivingSocial Seeks $1 Billion IPO

The post-Google+ World

One Facebook developer says Google+ represents an end to the Facebook monopoly. "If Google is able to build a user-base similar in size to Facebook and they offer strong or stronger viral channels, I would be happy to build Google viral functionality into apps," says Chris at Momentus Media.

The other potential advantage is the ability to create a channel for niche content. Facebook tends to be better at highly-popular content, less good at fostering content and communities based on niche interests, which is 99 percent of all content, some might argue.

The post-Google world: A Facebook Developer’s Perspective

How a Drum Shop Uses Social Media To Sell Cymbals

Even products that are highly personal, such as a drummer's cymbal, can be sold online if social media, audio and video are used properly, the experience of the Memphis Drum Shop suggests. The issue with cymbals is the sound, which historically has been difficult to capture except inside a physical store.

The Memphis Drum Shop has a dedicated YouTube channel that demonstrates the sound various cymbals make. The videos let drummers hear a “virtual test” of what the cymbal will sound like. The channel has been up for a little over four years, and has amassed over 20 million views. Of course, from a marketing perspective, the big implication is that, by providing a way for prospects to test the product remotely, Memphis Drum Shop can sell globally, without the requirement for a physical visit to the store.

How a Drum Shop Uses Social Media To Sell Cymbals