The prospect of using a mobile phone to make purchases could change the shape of consumer-business interaction in the coming years, as new technology offers the potential for consumers to house credit and other card information on their mobile phones. Europe’s largest trial of Near Field Communications (NFC) technology on mobile phones, conducted by research firm GFK and commissioned by O2 (a leading UK communications company), has revealed strong consumer demand for such services. Nine out... ...Read more »
Coca-Cola Amatil Australia is to pilot new cashless vending technology in partnership with Vending Management Services Limited (VMSL). The trial of the new Cashless Payment System and Cashless Reconciliation Engine (CRE) for Coke Vending will allow credit card and scheme-based debit card payments at vending machines. Gary Meier, General Manager of Coke Vending, says the initiative is in response to Australian consumer research. “In Australia, cards already account for more than half of all... ...Read more »
The US House Judiciary Committee’s passage of the Credit Card Fair Fee Act (H.R. 5546) could have wide reaching implications for credit providers and retailers alike. The proposed legislation would allow retailers, large and small, to join together to negotiate directly with credit card companies in an effort to reduce the “artificially high” credit card interchange fees. The National Restaurant Association has applauded the recommendation, claiming that it could reduce the stress... ...Read more »
As economic issues continue to worry consumers the need for retailers to think ahead becomes even more pivotal. Food prices are rising, fuel is reaching record highs and interest rates are starting to bite and, consequently, many consumers are looking for cheaper options. The figures for credit card purchases in Australia for the month of February indicated yet another record high but the growth in the figure was the lowest for 17 years. The trend is no longer a steep incline and a fall could... ...Read more »