eBay Chief Talks The Future of Mobile Payments

eBay Chief Talks The Future of Mobile PaymentsAs Bloomberg brilliantly summarized on Thursday, in the eyes of the consumer, ecommerce and retail are now one.

As a result, the electronic age has forever changed how consumers shop, research, and even pay for goods.

In a new interview with eBay boss John Donahoe, the prominent chief executive is weighing in on the future of eCommerce and mobile payments.

“Consumers want a seamless experience,” Donahoe contends. “If you’re a retailer or a merchant of any size, you’ve got to address that.”
While most accounts of mobile payments refer to stunning successes, one of the biggest names in this emerging industry hit a rough patch at Starbucks.

According to the findings of a March 2013 Fast Company report, Starbucks baristas are having trouble completing transactions with Square’s mobile payments solution. And that’s left some customer frustrated.

Where mobile payments are thriving more clearly, however, is the small business scene. From restaurant chains to sole proprietors, business owners using a variety of payments solutions – one of the more popular and reliable of which is PayAnywhere – have achieved bigger revenue and more satisfied customers.

“In busy shops and department stores, speed and efficiency of service are integral to customer satisfaction,” reads a recent blog post from PayAnywhere. According to the company, mobile payments allow merchants to speed up lines and process sales with far greater speed, which can maximize business during the busiest hours of the day.

All told, from the corner bakery to the CEO’s office at eBay, optimism abounds for the future of mobile technology in all facets of retail and commerce.

“The impact of mobile on our lives is just beginning,” Donahoe says. “The next phase you’re going to see using the mobile device—I’ll call it offline existence. So an example will be, you’re in a store and you want information about a product. Or PayPal Check-in is another example—how you can alert a merchant that you’re coming ahead of time. And so when you come in, they can greet you by name and give you personalized service.”

To read the full report from Bloomberg, click here.