by Celso Sato, president of Accesstage
We live in a fully connected world. Smartphones, tablets, televisions, watches and even pieces of clothing are already plugged into the network and the trend is for more and more objects to be included in this list. This is the phenomenon of the Internet of Things, which is transforming our relationships in recent years. Not only the relationship between people has changed, but also the way each of us consumes – and companies must prepare for this new reality.
Gartner predicts that in 2015 interest in mobile payments will grow along with the significant rise in mobile commerce, fueled by e-wallets. They will revolutionize retail and that shouldn't take long. Not just cell phones, but any internet-connected device will have purchasing power for years to come. This opens up a range of opportunities and new concerns for the entire Means of Payment chain.
The main concern is security. According to IDC, in two years, 90% of IT networks will have a failure due to the Internet of Things, so it is essential to invest, now, in the protection of transactions and information. At the other end, Retail must be ready to accept these new modes of payment, otherwise sales opportunities could be lost along the way. It is worth mentioning that there is no point in jumping into this novelty without first knowing the market and preparing for what is to come. Keeping an eye on global movements and the local reality of the merchant will help you decide when is the right time to accept mobile payment.
Analysis, planning and adaptation are the first steps for the acceptance of electronic wallets to be increasingly broad and well structured. It is also necessary for retailers to work in-house to have financial control over accepted means of payment – whether physical, plastic or mobile. Reconciling all these models can be a big challenge. Finance executives cannot lose sight of any details of transactions, such as cancellations, advances or even fees charged by operators. Any improper charge or unpaid payment means loss of money. In this case, sales reconciliation software can solve the issue and make the finance areas less operational and more strategic.
Electronic wallets are a trend and will arrive in Brazil in full force, as large companies in the sector have invested heavily in these solutions. It is now up to the Brazilian Means of Payment market to make them a reality in our country efficiently and without operational or technological difficulties.
Gartner predicts that in 2015 interest in mobile payments will grow along with the significant rise in mobile commerce, fueled by e-wallets. They will revolutionize retail and that shouldn't take long. Not just cell phones, but any internet-connected device will have purchasing power for years to come. This opens up a range of opportunities and new concerns for the entire Means of Payment chain.
The main concern is security. According to IDC, in two years, 90% of IT networks will have a failure due to the Internet of Things, so it is essential to invest, now, in the protection of transactions and information. At the other end, Retail must be ready to accept these new modes of payment, otherwise sales opportunities could be lost along the way. It is worth mentioning that there is no point in jumping into this novelty without first knowing the market and preparing for what is to come. Keeping an eye on global movements and the local reality of the merchant will help you decide when is the right time to accept mobile payment.
Analysis, planning and adaptation are the first steps for the acceptance of electronic wallets to be increasingly broad and well structured. It is also necessary for retailers to work in-house to have financial control over accepted means of payment – whether physical, plastic or mobile. Reconciling all these models can be a big challenge. Finance executives cannot lose sight of any details of transactions, such as cancellations, advances or even fees charged by operators. Any improper charge or unpaid payment means loss of money. In this case, sales reconciliation software can solve the issue and make the finance areas less operational and more strategic.
Electronic wallets are a trend and will arrive in Brazil in full force, as large companies in the sector have invested heavily in these solutions. It is now up to the Brazilian Means of Payment market to make them a reality in our country efficiently and without operational or technological difficulties.
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