Mercator Advisory Group Provides Recommendations for Retailers and Restaurants Evaluating Mobile Payments and Wallet Strategies
LAS VEGAS – (Money20/20 – Booth 2714) – CashStar, the industry-leading provider of prepaid commerce solutions, today announced the availability of a new whitepaper from Mercator Advisory Group titled, “Developing a Mobile Payments Strategy: Prepaid Considerations for Merchants.” As smartphones continue to greatly influence consumer behavior, the CashStar-sponsored paper explores the critical role payments play in optimal mobile commerce experiences.
“Every major retail and restaurant brand needs to be exploring a mobile payments strategy – one that uses advancing technology to provide mobile shoppers the experience they want from their favorite retailers, while minimizing risk,” said Ben Jackson, director, prepaid advisory service at Mercator Advisory Group.
In the whitepaper, Mercator explores the advantages of both open- and closed-loop mobile payments, advising merchants on how best to determine which will work for their business. In addition to providing guidance on how to approach a mobile payments strategy, the report also explores the marketing benefits of connecting payments to consumers’ phones, including the ability to store gift cards and other forms of branded currency within a device that is always with the shopper. This enables retail and restaurant marketers to deliver digital prepaid offers that are tailored to individuals based on their location, loyalty or purchase history.
“Mobile payments provide retailers not only opportunities to streamline payments and reduce friction at checkout, but also to engage with consumers and change behavior in positive ways,” said Ben Kaplan, president and CEO at CashStar. “Prepaid commerce is a critical component of a mobile payments strategy, enabling new marketing and commerce experiences with prepaid and digital gift cards.”
“Developing a Mobile Payments Strategy: Prepaid Considerations for Merchants” is available for download on the CashStar site. Money20/20 attendees can pick up a complimentary copy of the report at Booth 2714.
CashStar, the industry-leading provider of prepaid commerce solutions, enables the world’s top retailers and restaurants to grow and innovate in the rapidly evolving retail environment. CashStar provides best-in-class capabilities, revenue-optimizing risk management and a client success model based on aligned growth, to optimize digital gifting and prepaid commerce experiences. CashStar powers more than 300 leading brands worldwide including Best Buy, Brookstone, Coach, Crate & Barrel, Dell, Dunkin’ Donuts, Gap, lululemon athletica, Nine West, Office Depot, Petco, Pottery Barn, QVC, Sephora, Staples, Starbucks, The Cheesecake Factory, The Home Depot and Williams-Sonoma. To learn more, please visit www.cashstar.com, follow @CashStar or e-mail .