What are some big issues facing mobile payments?

Early last month, Mobile Payments Today and yours truly hosted an hour-long Twitter Q&A session about the most pressing issues the payments industry, especially mobile, faces today.

Our chat came at a good time.

The holiday shopping season was underway two months after the EMV liability shift in the U.S. The transition brought with it some issues at the physical point of sale for consumers, most notably longer wait times to complete a transaction. Some retailers such as CVS turned off EMV acceptance in December because long lines interfered with a busy time of the year.

But while the EMV shift has caused consumers and retailers some headaches, is there a positive that we can glean from it?

Jackson, who is the director of the prepaid advisory service at Mercator Advisory Group, highlighted a popular idea among industry followers. As more consumers become frustrated with the idea of a card “dip,” tap-and-pay now becomes a more attractive option. I wrote in a blog post in late 2015 that I now use Apple Pay whenever it’s available because I’m impatient with a 30- to 45-second checkout process. How many other consumers now do the same?

But there is one caveat to more mobile payments inside brick-and-mortar locations and Alex Jimenez, who is a digital banking and payments strategist, highlighted a problem we continue to see.

Aside from Starbucks and a few others, most retailers don’t have a complete handle on mobile payments. I’ve experienced Jimenez’s example issue, as well as a few others such as barcode scanners that didn’t scan, associates’ unfamiliarity with how an app such as TabbedOut works despite their employer promoting it (long story) and eye rolls from movie theater ticket takers when they’re confronted with a mobile device. Everyone needs to be on board for this to work.

Our chat also touched on issues such as consumer adoption, security and loyalty. Below is a small sample of the tweets we received:

Join us in the coming months as we plan to do more Twitter Q&A sessions. Please follow us on Twitter @MobilePayToday.

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