Paul Eckert, Technology

he Rise of Mobile Payment Options

Mobile Payment Options pic
Mobile Payment Options
Image: forbes.com

Paul Eckert is the founder and CEO of Family Financial Centers in Doylestown, Pennsylvania. Serving as a senior executive within the franchise industry for over 25 years, Paul Eckert believes in the power of technology in branding and marketing.

One way franchised businesses are taking advantage of technology is through mobile pay options, like the Dunkin’ Donuts and Starbucks apps that let customers pay with their smartphones.

Customers want convenience, speed, and brand interaction, according to Angela Abdallah, Dunkin’ Donuts’ manager of digital marketing and innovation. This is why it did not take much marketing to sell customers on the brand’s Dunkin’ App, which takes advantage of Apple Pay and Visa Checkout to enable customers to quickly pay for their morning donuts or coffee with their phone. Since the app’s release in 2012, 18 million Dunkin’ Donuts customers have downloaded it.

As for the coffee giant Starbucks, the company revealed during its first-quarter earnings call that 21 percent of the company’s transactions are carried out via the Starbuck’s app or another mobile point of sale system.

While seeing the most success in quick service food and drink industries, mobile payment use has been steadily rising in general since 2012. A 2016 report found that 40 percent of consumers use some form of mobile payment technology.