What we talk about when we talk about mobile payments



Looking back a few years, the breakthrough of mobile payments has been surprisingly fast. As recently as 2014, only 22% of US mobile phone owners had made a mobile payment. In 2017, this figure is estimated to be more than 70 per cent and growing fast.

From 2014 to 2017, what we call mobile payments

has also become more and more diverse. These days, "mobile payments" usually refers to at least the following:

  • In-app purchases with credit or debit cards
  • Message purchases carried by operators, usually by SMS
  • NFC enabled payments (Android Pay, Apple Pay, banks' apps etc.)
  • Consumer-to-consumer money transfer apps
  • Peer-to-peer payments or even peer-to-peer currency (Bitcoin etc.).

On top of this, each sub-category is linked with a number of different technologies, providers, and ecosystems. This results in a bewildering amount of options for companies that want to implement mobile payment in their customer experience or services.

Of course, the field is bound to consolidate eventually. As users become familiar with mobile payments, everyone – and their mother – will understand the benefits of having a payment terminal in their pocket.

The case for mobile payments is strong. Cash is disappearing fast and businesses are eager to find new ways to convert touch points smoothly into add-on sales, premium features or renewing subscriptions.

We at Bookit work hard to develop one-click mobile payments. For example, Finnair used our platform to push seat upgrades to the customer's mobile phone and this has generated a 20–30 % increase in activating old customers.

The magic potion to effortless customer experience is seizing these micromoments and making the right offer to the right customer at the right time – with the right payment method.


June 01, 2017